Section 470.240 – General obligation bonds to include promise to pay principal amount.
All general obligation bonds issued under ORS 470.220 to 470.290 and Article XI-J of the Oregon Constitution shall contain a direct promise of the State of Oregon to pay the principal amount of the bonds, plus any accrued interest and any redemption premium. The principal of and the interest and redemption premium, if any, upon […]
Section 470.270 – General obligation refunding bonds.
(1) After consultation with the State Treasurer, the Director of the State Department of Energy may issue general obligation refunding bonds for the purpose of refunding outstanding bonds issued under ORS 470.220 to 470.290 and Article XI-J of the Oregon Constitution. The refunding bonds may be sold in the same manner as other bonds are […]
Section 470.280 – General obligation bond repayment from sinking fund.
(1) The State Treasurer shall make payment of the principal of and the interest and redemption premium, if any, on any general obligation bond issued under ORS 470.220 to 470.290 from the Small Scale Local Energy Project Administration and Bond Sinking Fund. (2) The State Treasurer shall compute and determine in January of each year, […]
Section 470.290 – Bond indebtedness limited to constitutional limit.
No bonds shall be issued or sold under ORS 470.220 to 470.290 nor indebtedness incurred thereunder, which singly, or in the aggregate with previous debts or liabilities incurred for small scale local energy projects, shall exceed any limitation provided in the Oregon Constitution at the date of the issuance and sale of such bonds. If […]
Section 470.300 – Small Scale Local Energy Project Administration and Bond Sinking Fund; uses; sources.
(1) There hereby is created the Small Scale Local Energy Project Administration and Bond Sinking Fund, separate and distinct from the General Fund, to provide for payment of: (a) Administrative expenses of the State Department of Energy and the Director of the State Department of Energy in processing applications, investigating potential small scale local energy […]
Section 470.150 – Loan contract; security; content.
Except as provided in ORS 470.155 and 470.170, if the Director of the State Department of Energy approves the financing of a small scale local energy project, the director, on behalf of the state, and the applicant may enter into a loan contract, secured by a first lien or by other good and sufficient collateral […]
Section 470.310 – Procedure if sinking fund inadequate.
(1) If there are insufficient funds in the Small Scale Local Energy Project Administration and Bond Sinking Fund to make the payments referred to in ORS 470.300 (1), the Director of the State Department of Energy may request the funds necessary for such payments from the Legislative Assembly or the Emergency Board. (2) When the […]
Section 470.155 – Loan contract in form of intergovernmental agreement; provisions.
A loan contract with an eligible state agency for a small scale local energy project may be made in the form of an intergovernmental agreement under ORS chapter 190. The agreement shall set forth, among other matters, that: (1) The small scale local energy project shall be security for the loan. (2) The applicant pledges […]
Section 470.160 – Payment from loan funds.
If the Director of the State Department of Energy approves a loan for a small scale local energy project, the State Treasurer shall pay moneys for such project from the Small Scale Local Energy Project Loan Fund or Energy Project Bond Loan Fund in accordance with the terms of the loan contract, as prescribed by […]
Section 470.170 – Security for loan.
(1)(a) Except as otherwise provided in this subsection, when a loan is made under this chapter to an applicant other than a municipal corporation, the loan shall be secured pursuant to a mortgage, trust deed, security agreement, pledge, assignment or similar instrument, by a security interest or lien on real or personal property in the […]