Or. Admin. R. 330-112-0040

Current through Register Vol. 63, No. 8, August 1, 2024

Section 330-112-0040 - Form of Loan Assistance

(1) The Department may make loans to eligible entities under the terms of written commitments.

(2) Loans shall be made with proceeds from bonds issued pursuant to ORS 470.610 or other available funds obtained by the Department. The Department may establish such fees, charges, premiums, interest rates, and repayment terms, as the Department considers appropriate or necessary to provide sufficient funds to:

(a) Pay for the cost of borrowing through bond issuance; and

(b) Carry out the EEAST program; Further, the Department may include in the loan documentation such covenants, performance criteria and reporting requirements as the Department considers appropriate or necessary for the type, use and amount of loan provided, and such other provisions as the Department considers appropriate or necessary, to provide sufficient safeguards to protect the financial interest of the state.

(3) If the Department receives loan applications in an amount greater than the amount of funds available, the Department shall select those applications which, in the judgment of the Department, best achieve the program's goals as defined in ORS 470.500.

Or. Admin. R. 330-112-0040

DOE 8-2010(Temp), f. & cert. ef. 7-1-10 thru 12-28-10; DOE 15-2010, f. & cert. ef. 12-15-10

Stat. Auth.: ORS 470.500 - 47.0715, 2009 OL Ch. 753 & HB 3675 (2010)

Stats. Implemented: ORS 470.500 - 470.715, 2009 OL Ch. 753 & HB 3675 (2010)