2019 Oregon Revised Statutes
Volume : 07 - Public Facilities and Finance
Chapter 285A - Economic Development I
Section 285A.678 - Qualifications for approval of project funding.
The Oregon Infrastructure Finance Authority may approve a project proposed in an application filed as provided in ORS 285A.669, if, after investigation, the authority finds that:
(1) The proposed project is feasible and a reasonable risk from practical and economic standpoints, and the loan has reasonable prospect of repayment.
(2) Moneys in the Oregon Port Revolving Fund are or will be available for the proposed project.
(3) There is a need for the proposed project, and the applicant’s financial resources are adequate to provide the working capital needed to ensure success of the project.
(4) The applicant has received all necessary permits required by federal, state or local agencies.
(5) The applicant will not owe more than $3 million in principal to the Oregon Port Revolving Fund if the loan is approved.
(6) The standards under ORS 285A.055 have been met. [Formerly 285.883; 2001 c.883 §12; 2003 c.773 §12; 2009 c.830 §40]
