Oregon Statutes 470.160 – Payment from loan funds
If the Director of the State Department of Energy approves a loan for a small scale local energy project, the State Treasurer shall pay moneys for such project from the Small Scale Local Energy Project Loan Fund or Energy Project Bond Loan Fund in accordance with the terms of the loan contract, as prescribed by the director. [1979 c.672 § 8; 2003 c.186 § 65; 2009 c.753 § 65]
Terms Used In Oregon Statutes 470.160
- Contract: A legal written agreement that becomes binding when signed.
- Director: means the Director of the State Department of Energy appointed under ORS § 469. See Oregon Statutes 470.050
- Energy Project Bond Loan Fund: means the fund established under ORS § 470. See Oregon Statutes 470.050
- Loan: includes the purchase or other acquisition of evidence of indebtedness and money used for the purchase or other acquisition of evidence of indebtedness. See Oregon Statutes 470.050
- Small scale local energy project: means any of the following:
(a) A system, mechanism or series of mechanisms located primarily in Oregon that directly or indirectly uses or enables the use of, by the applicant or another person, renewable resources including, but not limited to, solar, wind, geothermal, biomass, waste heat or water resources to produce energy, including heat, electricity and substitute fuels, to meet a local community or regional energy need in this state. See Oregon Statutes 470.050