OAR 731-030-0110
Approval Procedures

(1)

Staff will combine the results of the evaluation completed under OAR 731-030-0100 (Application Evaluation Procedures) into a combined score.

(2)

Upon completion of its evaluation and scoring, Staff will forward the Application to the Chief Financial Officer with a recommendation for action based on an analysis of such factors as those listed in OAR 731-030-0110 (Approval Procedures)(3), the availability of funds, and OTIB cash flow. A recommendation, or any related approval, may include proposed modifications to the terms of the financial assistance requested by Applicant.

(3)

To make a recommendation for approval, staff must find that:

(a)

The Applicant and the Transportation Project qualify for assistance from the Infrastructure Fund according to the criteria established under OAR 731-030-0100 (Application Evaluation Procedures)(1).

(b)

The proposed Transportation Project is feasible and a reasonable risk from practical and economic standpoints, and the proposed Infrastructure Loan has a reasonable prospect of repayment according to its terms.

(c)

The Applicant’s financial resources and management capability appear to be adequate to assure the successful completion and operation of the Transportation Project.

(d)

The Applicant is creditworthy.

(e)

The Applicant can provide good and sufficient Collateral when appropriate to mitigate risk to the Infrastructure Fund.

(4)

After review and consideration of the Staff recommendation, and subject to the availability of moneys in the Infrastructure Fund, the Chief Financial Officer may:

(a)

For an Application for an Infrastructure Loan or Infrastructure Assistance for less than $1 million that will finance a Transportation Project that has been included in the STIP:

(A)

Approve the request;

(B)

Deny the request; or

(C)

Forward a recommendation for action to the Commission.

(b)

For any other Application:

(A)

Deny the request; or

(B)

Forward a recommendation for action to the Commission.

(5)

The Commission will consider the recommendation by the Chief Financial Officer on any Application forwarded to it for action and may:

(a)

Approve the request; or

(b)

Deny the request.

Source: Rule 731-030-0110 — Approval Procedures, https://secure.­sos.­state.­or.­us/oard/view.­action?ruleNumber=731-030-0110.

Last Updated

Jun. 8, 2021

Rule 731-030-0110’s source at or​.us