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[Congressional Bills 114th Congress]
[From the U.S. Government Publishing Office]
[S. Res. 349 Introduced in Senate (IS)]

<DOC>

114th CONGRESS
  2d Session
S. RES. 349

 Congratulating the Farm Credit System on the celebration of its 100th 
                              anniversary.

_______________________________________________________________________

                   IN THE SENATE OF THE UNITED STATES

                            January 28, 2016

  Mr. Roberts (for himself, Ms. Stabenow, Mr. Tillis, Mrs. Ernst, Mr. 
    Cochran, Mr. Bennet, Ms. Heitkamp, Mr. Casey, and Mr. Grassley) 
submitted the following resolution; which was referred to the Committee 
                on Agriculture, Nutrition, and Forestry

_______________________________________________________________________

                               RESOLUTION

 
 Congratulating the Farm Credit System on the celebration of its 100th 
                              anniversary.

Whereas on July 17, 1916, President Woodrow Wilson signed into law the Federal 
        Farm Loan Act (39 Stat. 360, chapter 245), which established the Farm 
        Credit System;
Whereas through the enactment of the Farm Credit Act of 1971 (12 U.S.C. 2001 et 
        seq.), Congress--

    (1) directed that the Farm Credit System be designed as a permanent 
system to support the well-being and prosperity of rural communities and 
agricultural producers of all types and sizes in the United States; and

    (2) recognized that a prosperous, productive agricultural sector is 
essential to a free country;

Whereas Congress designed the Farm Credit System as a network of independently 
        owned cooperatives that are--

    (1) controlled by borrowers; and

    (2) responsive to the individual needs of borrowers for credit and 
financial services;

Whereas the Farm Credit System plays an important role in the success of United 
        States agriculture and economic vibrancy of rural communities in all 50 
        States and Puerto Rico;
Whereas the Farm Credit System actively supports the next generation of 
        agricultural producers--

    (1) by annually providing billions of dollars for loans to young and 
beginning farmers and ranchers; and

    (2) through ongoing financial support for organizations such as 4-H and 
the Future Farmers of America; and

Whereas Congress has provided for--

    (1) the appropriate safety and soundness oversight of the Farm Credit 
System through the Farm Credit Administration, an independent Federal 
agency, the operating costs of which are funded by the Farm Credit System; 
and

    (2) the protection of investors in Farm Credit System bonds through the 
Farm Credit System Insurance Corporation, funded by premiums paid by the 
Farm Credit System: Now, therefore, be it

    Resolved, That the Senate--
            (1) congratulates the Farm Credit System on the celebration 
        of the 100th anniversary of its founding; and
            (2) commends the continued service of cooperative owners 
        and employees of the Farm Credit System to help meet the credit 
        and financial services needs of rural communities and 
        agriculture.
                                 <all>
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