Chapter 454 — Sewage Treatment and Disposal Systems
ORS 454.442 Application for loan; terms and conditions
Any public agency desiring funding of its assessment deferral loan program from the Assessment Deferral Loan Program Revolving Fund may borrow from the Assessment Deferral Loan Program Revolving Fund in accordance with the procedures contained in ORS 454.430 to 454.445 and 468.220. The public agency shall submit an application to the Department of Environmental Quality on a form provided by the department. After final approval of the application, the department shall offer the public agency funds from the Assessment Deferral Loan Program Revolving Fund through a loan agreement with terms and conditions that:
Require the public agency to repay the loan with interest according to a repayment schedule corresponding to provisions governing repayment of deferred assessments by property owners as defined in the public agency’s adopted assessment deferral loan program;
Require the public agency to secure the loan with an assessment deferral loan program financing lien as described in ORS 454.445; and
Limit the funds of the public agency that are obligated to repay the loan to proceeds from repayment of deferred assessments by property owners participating in the assessment deferral loan program adopted by the public agency.
Note: See note under 454.430.
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2025 Oregon Revised Statutes — official online source
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Prior statutory text is not available in the ingested published editions. Consult an earlier official ORS edition or the cited Oregon Laws chapter.
2025 Oregon Revised Statutes — official online source · active · operative text
Official source