Oregon Administrative Code

123-011-0037 Approval of Bond Closing Resolution Prior to the approval of bond financing for an eligible project, as evidenced by the Commission’s approval of a bond closing resolution, the Commission shall: (1) Determine that the project satisfies the applicable requirements of …

123-011-0040 Extension (1) The Department may extend the eligibility granted by the Finance Committee for up to six months if the Department determines that the project still constitutes an eligible activity and that there is a reasonable prospect of the Bonds being issued within…

123-011-0045 Fees Applicants shall pay the Department and the Commission’s bond counsel the following fees and expenses: (1) For a new money Bond which is not a refunding, modification, restructuring, or reissuance: (a) Applicant shall pay to the Department a non-refundable appli…

123-011-0050 Confidential Records (1) Upon written request and within a reasonable time, the Director or his designee shall provide program records, for inspection in accordance with ORS Chapter 192. (2) The person requesting records will be charged for preparing and mailing such…

123-011-0055 Policies and Procedures for Identification of State’s Bond Counsel for Economic Development Revenue Bonds (1) Pursuant to ORS 286A.130(1): “The State Treasurer or a related agency may enter into one or more agreements for bond counsel services for a period of not les…

123-015-0100 Purpose The following rules are for the purpose of assisting technology-based, start-up businesses in Oregon whose primary purpose is to commercialize university-based or university-assisted research with the University of Oregon, Oregon State University and the Oreg…

123-015-0200 Definitions For the purposes of these rules additional definitions may be found in Procedural Rules, OAR 123-001. The following terms shall have the following definitions, unless the context clearly indicates otherwise: (1) “Grantee” means University of Oregon, Orego…

123-015-0300 Performance Based Contracts (1) The department shall enter into performance based contracts and agreements with the University of Oregon, Oregon State University and the Oregon Solutions Network in Lane, Linn and Benton counties. (2) Performance based contracts and a…

123-015-0400 Administration The department is responsible for disbursement of funds to entities per legislative designation consistent with OL 2013, ch. 762 and that funds are utilized for the purposes intended by the Legislature. The department will carry out those responsibilit…

123-015-0500 Reporting Grantees are required to report to the department on a quarterly basis on progress made in meeting all obligations set forth in the performance based contracts and agreements. Statutory/Other Authority: OL 2013 & ch. 762 Statutes/Other Implemented: OL 2013 …

123-016-0000 Purpose The purpose of these rules is to provide procedures, standards and criteria for the making of Oregon Business Development Commission expenditures for feasibility studies, technical assistance and management consulting services from the Business Retention Fund…

123-016-0010 Definitions For the purposes of these rules additional definitions may be found in Procedural Rules, OAR 123-001. The following terms shall have the following definitions, unless the context clearly indicates otherwise: (1) Business retention services means technical…

123-016-0020 Eligibility (1) Except as set forth in 123-016-0020(2), the following are eligible recipients of business retention services: (a) A for-profit business firm, whose Oregon facility is: (A) Engaged in: (i) Technology manufacturing; (ii) Wood and forest products process…

123-016-0030 Awards of Grants and Loans; Match Requirements (1) A business firm described in OAR 123-016-0020(1)(a) is eligible for a maximum award of $25,000 from the Fund for business retention services. (2) A public or non-profit, private entity described in OAR 123-016-0020(1…

123-016-0040 Application and Award Approval (1) An eligible recipient, as listed in 123-016-0020(1), shall make application for business retention services to the department on a form prescribed and provided by the department. (2) All applications shall be reviewed by the departm…

123-016-0050 Contracts for Awards (1) Upon approval of an award from the Fund, the department will enter into a contract with the recipient If the recipient is a for-profit business, the contract will require, among other items, repayment of the grant if the department has determ…

123-016-0060 Confidential Records For applicants and recipients of business retention services, ORS 192.502(17) lists certain types of business information that are exempted from public records requests. Statutory/Other Authority: ORS 285A.075 Statutes/Other Implemented: ORS 285A…

123-017-0005 Purpose The purpose of these rules is to provide procedures, standards and criteria for the making of loans from the Oregon Business Development Fund. Statutory/Other Authority: ORS 285A.110 Statutes/Other Implemented: ORS 285B.050 - 285B.098 History: EDD 11-1999, f.…

123-017-0007 Policy and Set Asides (1) It is the policy of the Business Development Commission, the Finance Committee and the Business Development Department to make loans from the Oregon Business Development Fund to qualified applicants without regard to race, color, creed, sex,…

123-017-0008 Delegation (1) Authority for the day-to-day operation of the fund, including approval of loans and projects, and amendments thereto, is delegated to the Finance Committee. (2) The Commission shall review and evaluate the operation of the fund with such frequency as i…

123-017-0010 Definitions For the purposes of these rules additional definitions may be found in Procedural Rules, OAR 123-001. For purposes of this division of administrative rules, unless the context demands otherwise: (1) "Applicant" means any county, municipality, person or an…

123-017-0015 Eligibility (1) Eligible projects are business development projects as defined in OAR 123-017-0010(2). If the Department is unable to obtain a sufficient number of approvable applications to meet the requirements of ORS 285B.059(5), it may, notwithstanding the limita…

123-017-0020 Preference (1) Except in the case of a loan made from the Oregon Targeted Development Account, the Finance Committee shall give preference to loan applications for projects that demonstrate an overall community benefit and that have one or more of the following chara…

123-017-0025 Application Procedure (1) It is the policy of the Finance Committee to strive for and encourage, throughout the application process: (a) Maximum participation by financial institutions and local development groups; and (b) A minimum administrative burden on the appli…

123-017-0030 Loan Conditions (1) The Director (for loan requests of $250,000 or less) or the Finance Committee may approve a loan request if it finds that: (a) Fund participation in any financing shall not exceed 40 percent of the total amount of the eligible project costs, excep…

123-017-0035 Loan Agreement If the Finance Committee approves the business development project, the Finance Committee or the Director, on behalf of the state, and the borrower may enter into a loan contract of not more than $2,000,000, secured by good and sufficient collateral (e…

123-017-0037 Appeals, Servicing, Amendments, Assumptions and Modifications (1) If the Director denies a loan request, the applicant may appeal the Director's decision to the Finance Committee. The Finance Committee may: (a) Affirm the Director's denial; or (b) Decide to consider …

123-017-0055 Fees and Charges (1) The Department shall charge and collect a loan fee of $200 at the time the application is filed. (2) In addition, the applicant, immediately upon receiving the loan proceeds, shall pay to the Department one and one-half percent of the principal a…

123-018-0000 Purpose and Scope (1) The purpose of this division of administrative rules is to provide definitions, procedures, standards and criteria, to establish eligibility, and to stipulate rights and obligations for operation of the Capital Access Program. (2) The Capital Ac…

123-018-0010 Definitions For the purposes of these rules additional definitions may be found in Procedural Rules, OAR 123-001 as used in this division of administrative rules, the following definitions apply, unless the context requires otherwise: (1) "Agreement" means a contract…

123-018-0020 Authority to Implement Program The manager of the Department's Business Finance programs, or his/her designee, may execute any document reasonably necessary or convenient to implement the Program. Statutory/Other Authority: ORS 285A.075 & 285B.113(3) Statutes/Other I…

123-018-0030 Program Registration Procedure (1) A Financial Institution wishing to participate in the Program must submit a completed program registration application using a form prescribed by the Department. (2) The Department shall determine the Financial Institution’s eligibi…

123-018-0040 Agreement All Agreements entered into between a Participating Financial Institution and the Department shall provide: (1) For the creation of a Loss Reserve Account by the Department, owned by the Department for the benefit of the Participating Financial Institution …

123-018-0050 Establishing a Loss Reserve Account After executing an Agreement with a Participating Financial Institution, the Department shall establish a Loss Reserve Account to receive the fees described in OAR 123-018-0070 from the Borrower and the Participating Financial Inst…

123-018-0060 Ownership, Control, Investment of Loss Reserve Account (1) All moneys in a Loss Reserve Account are the exclusive property of the State of Oregon, acting by and through the Department, and are controlled solely by the Department. The Department may withdraw funds fro…

123-018-0065 Loan Eligibility A Participating Financial Institution may determine that a Qualified Loan is eligible for the Department to enroll in the Program if the Participating Financial Institution determines the Qualified Loan meets the following conditions: (1) The Qualifi…

123-018-0070 Fees (1) When making a Qualified Loan for which enrollment under the Program will be sought, the Participating Financial Institution shall charge the Borrower a fee that is at least 1.5 percent but not more than 3.5 percent of the principal amount of the Qualified Lo…

123-018-0080 Procedure for Enrollment of a Qualified Loan (1) A Participating Financial Institution may enroll a Qualified Loan in the Program by taking the following actions: (a) Notifying the Department in writing of the Qualified Loan to be enrolled, using a form prescribed by…

123-018-0085 State Contributions to Loss Reserve Accounts The Department shall determine the amount of money it transfers from the Fund to a Loss Reserve Account as follows: (1) For each Enrolled Loan, the Department shall deposit an amount equal to or greater than the total fees…

123-018-0090 Procedure for Making Claim for Reimbursement of Loss (1) If a Participating Financial Institution charges off all or part of an Enrolled Loan as a result of a default by the Borrower, the Participating Financial Institution may claim reimbursement for all or part of …

123-018-0100 Payment of Claims by Department (1) The Department shall reimburse a Participating Financial Institution for Losses claimed as described in OAR 123-018-0090. The Department may reject a claim only if the Department determines the representations and warranties provid…

123-018-0110 Recoveries on Loans Subsequent to Payment of Claim (1) If, subsequent to the payment of a Loss claim by the Department, the Participating Financial Institution recovers from the Borrower, through liquidation of collateral or from any other source, amounts for which P…

123-018-0120 Available Collateral, Guarantees and Other Security Not Realized (1) After the Department has received a request to pay a Loss claim to the Participating Financial Institution from the Loss Reserve Account, as described in OAR 123-018-0100, and if requested by the De…

123-018-0130 Subrogation (1) The Department may request to be subrogated to the rights of a Participating Financial Institution to the pledges and security, pursuant to OAR 123-018-0120. (2) The Department may make such a request if the Department believes that it would be able t…

123-018-0140 Reporting (1) When a Loss Reserve Account is domiciled with the Participating Financial Institution, the Participating Financial Institution shall provide the Department with a monthly statement providing details of the balance and the payments and receipts activity …

123-018-0150 Withdrawal of Excess Deposits in Loss Reserve Accounts Upon and after a formal determination or order by the Director of the Department: (1) The following shall apply to all interest earnings on moneys transferred by the Department to match transmitted fees, as descr…

123-018-0160 Termination of and Withdrawal from Program (1) The Department may terminate enrollment of Qualified Loans under the Program for a Participating Financial Institution on the date specified in the Department's notice of termination to the Participating Financial Instit…