OAR 731-030-0170
Interagency and Intra-agency Loans
(1)
For purposes of OAR 731-030-0170 (Interagency and Intra-agency Loans), capitalized terms shall have the respective meanings given in ORS Chapter 367 (Transportation Financing) and OAR 731-030-0030 (Definitions), 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 (Application Procedures). The Department will evaluate the Agency’s Application in the same manner provided in OAR 731-030-0100 (Application Evaluation Procedures) and 731-030-0110 (Approval Procedures), giving due consideration, however, to differences in funding sources, available Collateral and mission between an Agency and an Applicant that is a Municipality or Private Entity.(3)
A Department Borrower may request an Infrastructure Loan or Infrastructure Assistance by submitting an Application to the Chief Financial Officer or Staff. Staff will evaluate the Application in the same manner provided in OAR 731-030-0100 (Application Evaluation Procedures) and 731-030-0110 (Approval Procedures), giving due consideration, however, to differences in funding sources, available Collateral and mission between the Department Borrower and an Applicant that is an Agency, Municipality or Private Entity.(4)
For an Application approved under this OAR 731-030-0170 (Interagency and Intra-agency Loans), 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 Chief Financial Officer or Staff consider 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. An Agency or Department Borrower will pay:(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 and appraisals; and(c)
Charges specified in the Agreement executed by the Agency or Department Borrower and the Department.
Source:
Rule 731-030-0170 — Interagency and Intra-agency Loans, https://secure.sos.state.or.us/oard/view.action?ruleNumber=731-030-0170.