Notwithstanding any other representation or provision contained in the Program rules or otherwise, financing funds shall not be disbursed for the Project loan until:
- (1) Fully executed Bond Documents, or other adequate instrument as required by the Department fully secures the Project.
- (2) The Borrower and other necessary parties have executed all Project documents required by the Department at its sole discretion.
- (3) The Borrower and other necessary parties have satisfied all program financing conditions contained , as well as the requirement for assuring investment grade credit quality bond-financing for the Project as determined by the Department at its sole discretion.
Statutory/Other Authority
ORS 90.800 - 90.840, 91.886, 183, 456.515 - 456.723 & 458.210 - 458.650
Statutes/Other Implemented
ORS 456.555 & 456.625
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