2011 Oregon Revised Statutes
ORS Volume 11, Chapters 431 - 470
ORS Chapter 470
470.630 Form of disbursement; conditions for issuance.

(1) The State Department of Energy may disburse energy efficiency and sustainable technology loan and small scale local energy program loan moneys by providing the loan moneys through a sustainable energy project manager or providing the loan moneys to or through an entity described in ORS 470.060. Loan moneys may be disbursed through a project manager only for the purpose of enabling the project manager to issue energy efficiency and sustainable technology loans and small scale local energy program loans to applicants in the sustainable energy territory served by the project manager.

(2) The project manager may issue a loan from moneys disbursed under this section only if adequate security exists to ensure repayment of the loan. An energy efficiency and sustainable technology loan from a project manager to an applicant located in the sustainable energy territory served by the project manager must have the features described in ORS 470.150 and 470.645 and is subject to the requirements and processes imposed under ORS 470.500 to 470.710 for energy efficiency and sustainable technology loans issued by the Director of the State Department of Energy. A project manager that issues an energy efficiency and sustainable technology loan to support a small scale local energy project may record a fixture filing and lien on the property that benefits from the project as provided in ORS 470.680 or 470.685. [2009 c.753 26]