Application Review and Approval
(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 (Application Review and Approval), 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.