2011 Oregon Revised Statutes
ORS Volume 10, Chapters 366 - 430
ORS Chapter 367
367.082 Grants and loans from Multimodal Transportation Fund; rules.
(1) Except as provided in subsection (2) of this section, the Department of Transportation may provide, from moneys in the Multimodal Transportation Fund established by ORS 367.080:
(a) Grants for transportation projects to public bodies, as defined in ORS 174.109, and to private entities; and
(b) Loans for transportation projects to public bodies, as defined in ORS 174.109, and to private entities.
(2) Grants and loans may not be made from the Multimodal Transportation Fund for transportation projects that could constitutionally be funded by revenues described in section 3a, Article IX of the Oregon Constitution.
(3) The Department of Transportation shall adopt rules:
(a) Specifying the process by which a public body or private entity may apply for a loan under this section and prescribing the terms and conditions of loans, including but not necessarily limited to interest rates and repayment schedules; and
(b) Specifying the process by which a public body or private entity may apply for a grant under this section and prescribing the terms and conditions of grants, including but not necessarily limited to a requirement that the public body or private entity receiving the grant provide at least 20 percent of the moneys required for the transportation project. [2005 c.816 3]
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