731-030-0030 Definitions For the purposes of OAR 731-030-0010 through 731-030-0170, the following definitions apply, unless the context clearly indicates otherwise: (1) “Applicant” means a Municipality or any other entity authorized by law to obtain an Infrastructure Loan or Infrastructure Assistance including an Agency or the Department. (2) “Application” means the form, prescribed by the Department, and all supplemental attachments, exhibits and other supporting papers that the Applicant completes and provides to the Department to request an Infrastructure Loan or Infrastructure Assistance through the Oregon Transportation Infrastructure Bank. (3) “Agency” has the meaning given in ORS 367.010(1). (4) “Agency Contract” means an inter-agency agreement between the Department and an Agency or intra-agency agreement between the Department and a Department Borrower, that is intended to be binding on the State of Oregon and the Agency or the Department Borrower, respectively, as provided in ORS 367.040. (5) “Agreement” means a legally binding contract between the Department and a Recipient that sets out the terms and conditions under which the Department is providing an Infrastructure Loan or Infrastructure Assistance. (6) “Bond” has the meaning given in ORS 367.010(2). (7) “Bond Counsel” means a law firm having knowledge and expertise in the field of municipal law and whose opinions are generally accepted by purchasers of municipal bonds. (8) “Bond Debt Service” has the meaning given in ORS 367.010(3). (9) “OTIF Manager” means the Department employee designated by the Commission, through a delegation order, to administer the OTIB and OTIF. (10) “Collateral” means any real or personal property, including but not limited to intangibles, bonds, revenues or other money, that is or may be pledged, or subject to a lien or security interest to secure the repayment of an Infrastructure Loan, and includes any property included in the definition of collateral in ORS 79.0102(1). (11) “Commission” means the Oregon Transportation Commission. (12) “Credit Enhancement” has the meaning given in ORS 367.010(4). (13) “Debt Service Reserve” means any moneys reserved for debt service for, or used to secure payment of, Infrastructure Bonds. A Debt Service Reserve may be held in a segregated account in the Infrastructure Fund or by a trustee. (14) “Department” or “ODOT” means the Oregon Department of Transportation. (15) “Department Borrower” means a division or other organizational unit in the Department that applies for or receives an Infrastructure Loan or Infrastructure Assistance from the Oregon Transportation Infrastructure Fund. (16) “Director” means the director of the Department. (17) “Financial Advisor” means a consultant providing the Department with information and advice relative to the structure, timing, marketing, pricing, terms and bond ratings for the sale of Infrastructure Bonds. (18) “Infrastructure” means any construction project, facility, property or program that provides the foundation or basic framework by which an entity provides transportation services to the public. (19) “Infrastructure Assistance” has the meaning given in ORS 367.010(6). (20) “Infrastructure Bonds” has the meaning given in ORS 367.010(7). (21) “Infrastructure Loan” has the meaning given in ORS 367.010(9). (22) “Municipality” has the meaning given in ORS 367.010(10). (23) “Oregon Transportation Infrastructure Bank” or “OTIB” means the program authorized by Section 350 of the National Highway System Designation Act of 1995, 23 U.S.C. 101 note, Public Law 104-59, and a cooperative agreement between the U.S. Department of Transportation and the Department dated August 26, 1996. (24) “Oregon Transportation Infrastructure Fund” or “OTIF” means the fund established in ORS 367.015. (25) “Public Transit Division Administrator” means the administrative head of the Transit Division or their designee. (26) “Private Entity” means a natural person capable of being legally bound, a sole proprietorship, a corporation, a partnership, a limited liability company or partnership, a limited partnership, a for-profit or non-profit unincorporated association, a business trust, or any other entity with legal capacity to contract which is not a Government, as defined by ORS 165.075, or a Local Government as defined by ORS 174.116. (27) “Recipient” means an Applicant that has received an Infrastructure Loan or Infrastructure Assistance or a combination thereof. (28) “Region” means one of the geographic areas established by the Department to administer transportation programs. (29) “Region Manager” means the administrative head of a Region or their designee. (30) “Transportation Project” has the meaning given in ORS 367.010(11). Statutory/Other Authority: ORS 184.619, 367.015 & 367.020 Statutes/Other Implemented: ORS 367.010 - 367.060 & US Code, PL 104-59 & Sect. 350 History: DOT 9-2022, amend filed 09/22/2022, effective 09/22/2022 DOT 3-2012, f. & cert. ef. 6-27-12 DOT 7-2004, f. & cert. ef. 11-17-04 DOT 1-1997, f. & cert. ef. 1-17-97