The Department shall issue an interest rate payment confirmation letter to a lender where the lender has provided a loan to provide UST project work where:
- (1) A reduced interest rate certificate has been issued to the loan applicant;
- (2) The borrower’s interest rate and the lender’s interest rate meet the requirements of these rules;
- (3) The maturity date of the loan does not exceed 20 years from the initial loan closing date;
- (4) The commercial lending institution has approved the loan, subject to receiving the loan guarantee confirmation letter from the Department; and
- (5) The lender’s interest rate has been provided to the Department.
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