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Interest rate reduction by John E. Finlay, Agricultural Representative The new Ontario Family Farm In- terest Rate Reduction (OFFIRR) program, as promised in the 1986 provincial budget, will provide in- terest rebates on up to $260,000 of ex- isting long-term, intermediate and short-term farm debt held by ap- proved lenders. The program is to take effect on September 1, 1986. The new program brings the ef- fective cost of long-term credit down to eight percent or a maximum of seven percentage points. The max- imum interest rate eligible for rebate on fluctuating demand loans is prime rate plus three percent. The new program incorporates the interest reduction benefits of the Farm Operating Credit Assistance Program (FOCAP) with the assistance provided under the 1985 OFFIRR program. The new program offers enhanc- ed benefits over the 1985 OFFIRR program including coverage of short-term and intermediate farm debt, and increase in the amount of eligible debt from $200,000 to $260,000, three years of assistance, and expanded eligibility to include Beginning Farmers Assistance Pro- gram participants. The operating loan guarantee aspect of the FOCAP program will continue as a separate program called the Operating Loan Guarantee Program. : The new OFFIRR program pro- vides benefits of 100 percent in the first year, 70 percent in the second and 40 percent in the third. The rebates are paid directly to the farmer by cheque. The program is targeted to farm families with equity of 10 to 75 per- cent. The program will also consider producers with exceptional ability who have less than 10 percent equity. Ontario residents operating a farm from which they intend to earn a family living are eligible for assistance if they have less than 75 percent equity. The amount of eligible debt is reduced if net worth exceeds $500,000, and if participants are already receiving interest reduction grants under the 1986 FOCAP. Rebates cannot be paid until after any loan guarantee under the On- tario Farm Adjustment Assistance program of FOCAP has expired or repayment has been made. Deadline for application is May 18, 1987. Applications for the new OFFIRR program will be available from your local OMAF office begin- ning September 1, 1986. ---- by's | Pizza Parlour - 150 Water St. Port Perry 985-2225 CLIP & SAVE $30 OFF Large Pizza $4 OFF X-Large Pizza | ONE COUPON PER PIZZA | GEES GE GED GUND GEN GND GE GEN GE GE GR C= FREE DELIVERY | in Port Perry | Open to 4 a.m. Thurs, Fr. & Sat. | | a a-- -- GA SE GT GW GE Sw SE GH G---- Ln ----_---- ---- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- a = w=] AL a sees WOODEN CAPTAIN'S CHAIRS Reg. 108.70 ea 92.50 | DAMAGED BATH TUBS 79.95 FLOOR TILES 6 Different/Patterns - No Wax Peel & Stick - 45 sq.ft. per Box 35.55. CLOSET STORAGE SYSTEMS 5' & Under - reg. 40.30 ........ S0.00 5' to 8 - reg. 64.84 .......... 50.00 BAKER BOARD Blue Pattern - 4 x 8 Sheet THIS WEEK wove 21.00 CEDAR DOORS RICE 10% OFF Aino ony 2 x 4 UTILITY SPRUCE 10' to 16' ................ lin.ft. « 22 1 C NET ASPENITE - Shop Grade 4 x8 x 7/16" Sheet ............. 7.99 NET FIBREGLASS 26"x8', 3 oz. - reg. 9.35 ........ 7.99 34"x8', 5 oz. - reg. 23.80... 21.40 34"x10', 5 oz. - reg. 29.80. 26.80 Bagged Goods Concrete Mix ...... 3.09 Portland Cement 0.90 | : Sealbond ........ we 8.39 | CONSTRUCTION SPRUCE 8' 10' 12' 14' 16' 2x4... 219 274 329 384 4.38 2x6 .. 328 410 492 574 6.56 2x8... 496 620 744 868 992 2x10 7.28 9.10 1092 12.74 14.56 ~ MONA TIT} i PANELS by Graham Products LIGHE amm-- seme 900 OF TABLE SAW LEGS ..................... eee. 95.99 vo ssi aworl QQ QF, ww coness orl 62.95 "Ne 902005 3x24. 169.99 LAKE SCUGOG LUMBER CO. LTD. 11 VANEDWARD DRIVE - (OSHAWA ROAD) cilstie PORT PERRY - ONTARIO - PHONE 985-7391 bn centre ROOF TRUSS DIVISION - PHONE 985-3121 ¢ QUALITY PRODUCTS ® QUALIFIED SERVICE ® COMPETITIVE PRICING