2013 Oregon Revised Statutes
Volume : 11 - Public Health, Housing, Environment
Chapter 469 - Energy; Conservation Programs; Energy Facilities
Section 469.966 - Loan terms; interest rates; rules.
(1) The State Department of Energy shall establish by rule policies for establishing loan terms and interest rates for loans made from the Alternative Fuel Vehicle Revolving Fund that ensure that the objectives of ORS 469.960 to 469.966 are met and that adequate funds are maintained in the Alternative Fuel Vehicle Revolving Fund to meet future needs. In establishing the policy, the department shall take into consideration at least the following factors:
(a) The ability of a public body or tribe to repay a loan.
(b) Current market rates of interest.
(2) The department may establish an interest rate ranging from zero to the market rate. The department may establish the loan term, provided that the loan is fully amortized not later than six years after the purchase of a new alternative fuel vehicle or the conversion of a vehicle that uses gasoline or diesel to an alternative fuel vehicle.
(3) The department shall adopt by rule any procedures or standards necessary to carry out the provisions of ORS 469.960 to 469.966. [2013 c.774 §7]
Note: See note under 469.960.
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