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2019 Oregon Revised Statutes
Volume : 07 - Public Facilities and Finance
Chapter 285A - Economic Development I
Section 285A.690 - Powers to enforce loan agreement.
Universal Citation: OR Rev Stat § 285A.690 (2019)
(1) The Oregon Business Development Department may institute proceedings to foreclose any lien for delinquent loan payments.
(2) If a port district fails to comply with a contract entered into pursuant to ORS 285A.681, the department may seek appropriate legal remedies to secure the loan, and may contract with any port project developer for continuation of the project and for repayment of moneys from the Oregon Port Revolving Fund used therefor and interest thereon.
(3) The department may also provide by contract or otherwise for a project until the project is assumed by the new port project developer. [Formerly 285.893; 2001 c.883 §15; 2009 c.830 §44]
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