Part of the contract payment was subject to a court case which the contractors lost.

He urged the board to adopt new procedures to streamline the contract payments.

"We will have the right to seek damages for about three years of contract payments."

They hope to repay the loans and make a living on contract payments that they say add up to about $8 a hog.

Likewise, a penalty of $100,000 would be deducted from the contract payments for each day over.

Most high-profile hosts are protected against lost revenue through long-term contract payments from the syndicator that employs them.

Producers also could choose to receive 50% of the contract payment in December or January of the fiscal year.

Long-term liabilities - include all notes payable such as mortgages, contract payments, etc. that are due over a period greater than one year.

However, the title to a property bought on contract would not be transferred to the buyer until all contract payments had been made.

They said they would have to ask the county for larger contract payments to cover their higher costs.