2013 Oregon Revised Statutes
Volume : 13 - Water Resources, Agriculture and Food
Chapter 541 - Water Distributors; Water Releases; Conservation and Storage; Water Development Projects; Watershed Management and Enhancement
Section 541.696 - Standards for security of loans from account; rules.

(1) The Water Resources Commission shall adopt rules establishing standards for borrowers obtaining loans issued from the Water Supply Development Account. The commission shall design the standards to ensure that all loans have a high probability of repayment and that all loans are adequately secured in the event of a default. The commission shall solicit comments from the Oregon Department of Administrative Services and the State Treasurer when designing the standards. The standards may include, but need not be limited to, standards that give preference to entities with ad valorem taxing authority.

(2) If the Water Resources Department approves a loan from the account for the implementation of a water development project, the department may require that the applicant enter into a loan contract, secured by a first lien or by other good and sufficient collateral. [2013 c.784 §15]

Note: See note under 541.651.

Note: Sections 18 and 22, chapter 784, Oregon Laws 2013, provide:

Sec. 18. (1) The Governor, or a designee of the Governor, shall appoint a nonlegislative task force composed of members the Governor or designee deems to be appropriate and to be sufficiently representative of agricultural, municipal, conservation and tribal interests and of other groups having an interest in water resources development.

(2) The task force shall meet at times and places specified by the Governor or the designee of the Governor.

(3) The task force shall review the structure established for water development project loans and grants under sections 1 to 15 of this 2013 Act [541.651 to 541.696] and develop any proposals for changing the structure that the task force determines to be warranted. The review may include but need not be limited to possible changes in the long-term structure of the decision-making process regarding:

(a) The appropriate role of the state in providing loan and grant funding for multipurpose water resource development under sections 1 to 15 of this 2013 Act; and

(b) The decision-making process for the allocation of newly developed water from projects for which the uses of the water were not specified in the funding application.

(4) The Water Resources Department shall provide staff support to the task force.

(5) The task force shall submit a report in the manner provided in ORS 192.245, including any recommendations for legislation, to the Governor and to an interim committee of the Legislative Assembly related to natural resources no later than July 1, 2014.

(6) Members of the task force are not entitled to compensation, but may be reimbursed for actual and necessary travel and other expenses incurred by them in the performance of their official duties in the manner and amounts provided for in ORS 292.495. Claims for expenses shall be paid out of funds appropriated to the department for purposes of the task force. [2013 c.784 §18]

Sec. 22. Section 18 of this 2013 Act is repealed on the date of the convening of the 2015 regular session of the Legislative Assembly as specified in ORS 171.010 [February 2, 2015]. [2013 c.784 §22]