Oregon Administrative Rules
Chapter 690 - WATER RESOURCES DEPARTMENT
Division 95 - COLUMBIA RIVER BASIN WATER DEVELOPMENT LOAN PROGRAM
Section 690-095-0065 - Interest Rates

Universal Citation: OR Admin Rules 690-095-0065

Current through Register Vol. 63, No. 9, September 1, 2024

(1) The director shall consult the State Treasurer before setting the interest rate on a loan in order to determine that the interest rate on the loan is sufficient to pay all costs associated with the bond issuance and expenses incurred in issuing the bonds.

(2) If the bonds have been sold, the director will set the interest rate paid under a loan

document at a rate that is at least equal to the interest rate paid to bondholders and is sufficient to pay the State of Oregon for:

(a) The administrative expenses incurred by the department, the State Treasurer and any other agency of the state in connection with the issuance of the bonds and the loan program;

(b) Any costs related to administration of the bonds, including but not limited to the costs of any credit enhancement for the bonds and the establishment of the Water Development Administration and Bond Sinking Fund reserves; and

(c) An amount to be deposited to the Water Development Fund for the purpose of increasing the amount available for loans from that fund.

(3) If, after consultation with the State Treasurer, the director believes that a project is unlikely to produce a net profit for the borrower, the director may set the loan interest rate in a loan document at a level that reduces or eliminates that portion of the loan rate above the bond interest rate.

Stat. Auth: ORS 536.027 & 541.646

Stats. Implemented: ORS 541-600 - 541.646

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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