An eligible port district may submit an application after consulting with Authority staff on a preliminary determination of eligibility and otherwise following the Authority procedures for submitting applications.
The application must be in the form provided by the Authority and must contain or be accompanied by such information as the Authority may require. The Authority will process only completed applications.
A fee of $100 will be charged for each loan application submitted to the Authority All application fees will be made by check or money order and made payable to the Oregon Port Revolving Fund.
All applications for loans from the Oregon Port Revolving Fund must indicate the proposed collateral to secure the loan and must include the following information:
If the ports taxing authority is proposed to be pledged as collateral, a statement certified by the county assessors office that sets forth the current millage rate, the projected new millage rate, if required to pay off the loan, the ports maximum current limitation, and a statement indicating whether the proposed pledge is within the ports current maximum mileage limitation;
If any of the ports personal or real property is proposed to be pledged as collateral, the Authority may require a formal appraisal, certified by an appropriate licensed authority, attesting to the value of all collateral proposed to be held as security.