1. (1) Any person qualifying for Tier 1, 2, 3, or 4 UST financial assistance under OAR 340, division 172 will qualify for a reduced interest rate where the person receives a loan for UST project work from a commercial lending institution.

2. (2) In addition to the requirements of section (1) of this rule:

   1. (a) A person qualifying for Tier 1 financial assistance is eligible to receive a reduced interest rate of 7.5 percent on a loan for the first $100,000 of eligible UST project costs;
   2. (b) A person qualifying for Tier 2 financial assistance is eligible to receive a reduced interest rate of 5.0 percent on a loan for the first $100,000 of eligible UST project costs;
   3. (c) A person qualifying for Tier 3 financial assistance is eligible to receive a reduced interest rate of 3.0 percent on a loan for the first $100,000 of eligible UST project costs; and
   4. (d) A person qualifying for Tier 4 financial assistance is eligible to receive a reduced interest rate of 1.5 percent on a loan for the first $100,000 of eligible UST project costs.

Statutory/Other Authority

ORS 466.706 - 466.895 & 466.995

Statutes/Other Implemented

OL 1991, Ch. 863, Sec. 6 & 6a

History

DEQ 14-1992, f. & cert. ef. 6-11-92
DEQ 29-1991(Temp), f. 12-18-91, cert. ef. 12-20-91