State Ex Rel. Medlock v. South Carolina State Family Farm Development Authority

Ness, Justice:

This action tests the validity of Act No. 179, § 15, the Family Farm Development Act, now codified at S. C. Code Ann. § 46-47-10 et seq. (Cum. Supp. 1982). The trial judge held that the Act constitutional, and we affirm.

The Act empowers the Authority to issue revenue bonds to provide loans to low and moderate income farmers through three methods of financing: (1) direct loans, (2) loans to lending institutions, and (3) loan purchases. Under the first method, the Authority may issue bonds and loan the proceeds to qualified farmers. The second method allows the Authority to lend…