Oregon Administrative Rules
Chapter 731 - DEPARTMENT OF TRANSPORTATION
Division 30 - OREGON TRANSPORTATION INFRASTRUCTURE FUND
Section 731-030-0170 - Interagency and Intra-agency Loans

Universal Citation: OR Admin Rules 731-030-0170

Current through Register Vol. 63, No. 12, December 1, 2024

(1) For purposes of OAR 731-030-0170, capitalized terms shall have the respective meanings given in ORS Chapter 367 and OAR 731-030-0030, unless the context clearly indicates otherwise.

(2) An Agency may apply for an Infrastructure Loan or Infrastructure Assistance by following the same procedures as an Applicant and submitting an Application as set forth in 731-030-0090. The Department will evaluate the Agency's Application in the same manner provided in OAR 731-030-0100 and 731-030-0110; as well as giving due consideration, to differences in funding sources and available Collateral.

(3) A Department Borrower may request an Infrastructure Loan or Infrastructure Assistance by submitting an Application as described under OAR 731-030-0090. The Department will evaluate the Application in the same manner provided in OAR 731-030-0100 and 731-030-0110, giving due consideration to differences in funding sources and available Collateral.

(4) For an Application approved under this OAR 731-030-0170, the Department will enter into an Agency Contract setting forth the amount of the Infrastructure Loan or Infrastructure Assistance and such additional terms and conditions as the Department considers necessary including, but not limited to:

(a) For an Infrastructure Loan, the interest rate, installment payment amount and schedule, maturity date, and any revenues or other moneys pledged or dedicated to repayment of the Infrastructure Loan; and

(b) For an Infrastructure Loan or Infrastructure Assistance, the allowable purposes on which the moneys provided may be spent and the remedies available to the Department in the event the moneys are misspent.

(5) The Department may charge an Agency or Department Borrower for costs to review, process, and service an Application or the Infrastructure Loan or Infrastructure Assistance. Charges described under this section include, but are not limited to:

(a) A loan fee of one percent of the amount of the Infrastructure Loan upon disbursement of Infrastructure Loan proceeds;

(b) Charges for credit reports, expert advice, legal fees, construction inspections, disbursement fees, loan servicing fees, Uniform Commercial Code-1 fees and appraisals; and

(c) Any other charges specified in the Agreement executed by the Agency or Department Borrower and the Department.

Statutory/Other Authority: ORS 184.619, 367.015 & 367.020

Statutes/Other Implemented: ORS 367.010-367.060 & US Code, PL 104-59 & Sect. 350

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