For those who formed farm or ranch corporations before October 3, 1989, and issued debt securities such as debentures, a major concern is how to handle the maturity of the notes, bonds or debentures. Although a few farm or ranch corporations have established reserves for redemption of debt securities at maturity, more commonly reserve funds have not been established and, in many instances, the corporation is not in a sufficiently strong cash position to redeem the debt securities as they mature.