Oregon Administrative Rules
Chapter 123 - OREGON BUSINESS DEVELOPMENT DEPARTMENT
Division 43 - WATER/WASTEWATER FINANCING PROGRAM
Section 123-043-0075 - Application Review and Approval
Universal Citation: OR Admin Rules 123-043-0075
Current through Register Vol. 63, No. 3, March 1, 2024
(1) For a water project, the Authority must make the following determinations:
(a)
Project feasibility as demonstrated by certification from a professional
engineer registered in the State of Oregon in an engineering report, such as a
Master Plan, that the proposed project is feasible and is the most cost
effective solution, or other feasibility documentation approved by the
Authority.
(b) The loan is secured
by the pledge of utility revenues or other revenues or payments from owners of
specially benefited properties, and these revenues or payments are sufficient,
when considered with other security, to assure repayment of the loan and the
municipality has certified to the Authority that there will be adequate funds
available to repay the loans made to the municipality from the fund.
(c) Moneys in the appropriate accounts of the
fund are or will be available for the project.
(d) The municipality is willing and able to
enter into a contract with the Authority.
(e) The project is consistent with the
requirements governing assistance from the fund. If the Authority determines
that the municipality or the proposed project does not meet the requirements of
this OAR 123-043-0075, the Authority may reject an application or require
further documentation from the municipality.
(f) The project is ready to begin and the
municipality has committed in writing that, if awarded the assistance it shall
proceed immediately.
(2) To award assistance from the fund for a technical assistance project, the Authority must determine that the municipality has, or has demonstrated the ability to secure, the administrative capacity to undertake and complete the project.
Statutory/Other Authority: ORS 285B.563 & 285A.075
Statutes/Other Implemented: ORS 285B.560 - 285B.599
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.
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