Oregon Statutes 470.600 – State Department of Energy may enter agreements to disburse supplemental capital funds; conditions
To achieve the energy efficiency and sustainable technology loan program goals described in ORS § 470.500, the Director of the State Department of Energy may enter into agreements to disburse supplemental capital funds through the Small Scale Local Energy Project Loan Fund and the Energy Project Supplemental Fund if:
Terms Used In Oregon Statutes 470.600
- Director: means the Director of the State Department of Energy appointed under ORS § 469. See Oregon Statutes 470.050
- Energy efficiency and sustainable technology loan: means a loan for a small scale local energy project that is repayable by means of:
(a) A charge included with the participant's utility customer account billing; or
(b) An alternative repayment method identified by the department and the borrower and specified in the loan agreement. See Oregon Statutes 470.050
- Energy Project Supplemental 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
(1) The director estimates that interest rates and total costs to program applicants that would result from the use of the supplemental capital funds are lower than would result from the use of bond proceeds; and
(2) The supplemental capital funds are made subject to any requirements adopted by the director by rule to ensure adequate protection of project moneys. [2009 c.753 § 21]
(Local Governments)