Oregon Administrative Rules
Chapter 123 - OREGON BUSINESS DEVELOPMENT DEPARTMENT
Division 30 - PORT REVOLVING FUND
Section 123-030-0030 - Application Review and Approval
Universal Citation: OR Admin Rules 123-030-0030
Current through Register Vol. 63, No. 9, September 1, 2024
(1) To approve an application for assistance from the fund, the Authority must make the determinations as follows:
(a) The project
is consistent with the requirements governing assistance from the fund. If the
Authority determines that the applicant and/or the proposed project do not meet
the requirements of this section, the Authority may reject an application or
require further documentation from the applicant;
(b) The requisite need for the project has
been demonstrated in the application or the local planning process;
(c) The port has certified to the Authority
that there will be adequate funds available to repay any loans made;
(d) The loan security includes the pledge of
revenues and/or other funds are sufficient, when considered with other
security, to assure repayment;
(e)
The applicant is willing and able to enter into a contract with the Authority
for repayment of the loan;
(f) The
project is ready to proceed including all necessary permits required by
federal, state and local agencies;
(g) The project activities constitute an
eligible project;
(h) Moneys in the
fund are or will be available for the project;
(i) The requirements under ORS
285A.055 for approval have been
satisfied;
(2) The Authority may provide preliminary approval of a loan application at any time and identify all necessary requirements for final approval.
(3) If the application is denied, the matter will be set aside unless the applicant requests further action under ORS Chapter 183.
Statutory/Other Authority: ORS 285A.075
Statutes/Other Implemented: ORS 285A.669 - 285A.732
Disclaimer: These regulations may not be the most recent version. Oregon may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.
