1. (1) The Department may finance Projects pursuant to written Commitments made to eligible Borrowers.

2. (2) Projects may be financed directly with proceeds from the issuance of Bonds or other available funds obtained by the Department. The Department may establish charges and interest rates for financing Projects based upon factors including but not limited to the following:

   1. (a) The cost of borrowing through Bond issuance; and
   2. (b) Other funds required to carry out the Program.
3. (3) The Borrower shall comply with all provisions of the Program and the Act.
4. (4) The Department may take appropriate enforcement action in accordance with the Commitment and other Project documents, or as otherwise available at law.
5. (5) The Department may finance Projects in such order, as in the sole judgment of the Department, best achieves the purposes of the Program and the Act.

Statutory/Other Authority

ORS 90.800 - 90.840, 91.886, 183, 456.515 - 456.723 & 458.210 - 458.650

Statutes/Other Implemented

ORS 456.515 - 456.720

History

OHCS 1-2007, f. & cert. ef. 1-11-07
OHCS 3-2000, f. & cert. ef. 9-15-00
OHCS 1-2000(Temp), f. 6-8-00, cert. ef. 6-8-00 thru 12-4-00