73R9214 JGD-D
          By Patterson, et al.                                 H.C.R. No. 130
                              HOUSE CONCURRENT RESOLUTION
    1-1        WHEREAS, A prosperous, independent family farm system and a
    1-2  fair and honest credit system are vital to the economic health and
    1-3  well-being of all Americans; and
    1-4        WHEREAS, The current crisis in farm credit and financing
    1-5  throughout this country erodes that prosperity and threatens the
    1-6  survival of the family farm to the detriment of farmers and
    1-7  consumers alike; and
    1-8        WHEREAS, Many of the credit problems experienced by
    1-9  agricultural borrowers are through no fault of their own but are
   1-10  traceable to the financial malfeasance of lenders; and
   1-11        WHEREAS, The state legislatures of Iowa, North Dakota, and
   1-12  South Dakota have introduced resolutions calling on the president
   1-13  and Congress of the United States to thoroughly investigate
   1-14  widespread allegations of abuse and inequities by certain
   1-15  agricultural lenders in the handling of agricultural loans; and
   1-16        WHEREAS, U.S. Secretary of Agriculture Mike Espy, reflecting
   1-17  official recognition of the problem by the Clinton administration,
   1-18  has suspended some foreclosure actions pending a review by an
   1-19  independent panel; and
   1-20        WHEREAS, The Texas Legislature places its full support behind
   1-21  the family farmers of this state and behind actions to ensure the
   1-22  propriety of credit practices affecting the agricultural sector;
   1-23  now, therefore, be it
   1-24        RESOLVED, That the 73rd Legislature of the State of Texas
    2-1  hereby urge the president and United States Congress to thoroughly
    2-2  investigate the national farm credit system, including alleged
    2-3  abuses and improprieties by agricultural lenders in the handling of
    2-4  agricultural loans, and to consider enactment or implementation of
    2-5  a moratorium on farm foreclosure actions subject to completion of
    2-6  the investigation; and, be it further
    2-7        RESOLVED, That the Texas secretary of state forward official
    2-8  copies of this resolution to the president of the United States, to
    2-9  the speaker of the house of representatives and president of the
   2-10  senate of the U.S. Congress, and to all members of the Texas
   2-11  congressional delegation, with the request that it be officially
   2-12  entered in the Congressional Record as a memorial to the Congress
   2-13  of the United States of America.