reglab/statecodes huggingface dataset:
2023 Oregon Revised Statutes › Volume : 13 - Housing, Games, Environment › Chapter 470 - Small Scale Local Energy Projects › Section 470.270 - General obligation refunding bonds.

(1) After consultation with the State Treasurer, the Director of the State Department of Energy may issue general obligation refunding bonds for the purpose of refunding outstanding bonds issued under ORS 470.220 to 470.290 and Article XI-J of the Oregon Constitution. The refunding bonds may be sold in the same manner as other bonds are sold under ORS 470.220 to 470.290. All moneys obtained from the sale of refunding bonds shall be credited by the State Treasurer to the Small Scale Local Energy Project Administration and Bond Sinking Fund. The refunding bonds may be issued to refund bonds previously issued for refunding purposes. Pending the use of moneys obtained from the sale of refunding bonds for proper purposes, such moneys may be invested in the manner provided by law.
(2) Notwithstanding any provision of ORS 470.150, if the State Department of Energy issues taxable refunding bonds at a lower interest rate to refund outstanding general obligation bonds, and is unable to allow loan recipients to receive a portion of the interest savings, the director shall allow the loan recipient to prepay the outstanding loan balance upon the request of the recipient. The director shall respond to such a request within 30 days after receiving the request by specifying the outstanding principal balance after applying reserves held by the state for the borrower and the prepayment premium as listed in the bond document, loan document or bond purchase agreement.
(3) The department shall pursue opportunities for refunding bonds to reduce interest sums payable by the department. When the department refunds a bond with tax-exempt bonds, the department shall share, on an equitable basis, the savings from any refunding with the borrowers whose loans were made with the proceeds of the refunded bonds in an amount consistent with a finding by the director that the sinking fund has, and will continue to have, sufficient funds to make payments required under ORS 470.300 (1). The department may not refund tax-exempt bonds with taxable bonds, unless the department is able to share the savings associated with such a refunding with the borrowers whose loans are linked to such bonds. At least 120 days before the date on which the department intends to issue refunding bonds, the director shall notify each borrower whose loan was made from the proceeds of the bonds being refunded and shall offer the borrower the opportunity to prepay the borrower’s loan. A borrower shall respond within 60 days of the date of the notice described in this subsection if the borrower intends to prepay the borrower’s loan. [1979 c.672 §22; 1995 c.282 §1; 1997 c.482 §2; 2003 c.186 §72; 2005 c.201 §11; 2009 c.753 §70]
2023 Oregon Revised Statutes › Volume : 13 - Housing, Games, Environment › Chapter 470 - Small Scale Local Energy Projects › Section 470.280 - General obligation bond repayment from sinking fund.

(1) The State Treasurer shall make payment of the principal of and the interest and redemption premium, if any, on any general obligation bond issued under ORS 470.220 to 470.290 from the Small Scale Local Energy Project Administration and Bond Sinking Fund.
(2) The State Treasurer shall compute and determine in January of each year, after the sale of bonds under ORS 470.220 to 470.290 and Article XI-J of the Oregon Constitution, the amount of principal, interest and redemption premiums that will fall due during the year on bonds then outstanding and unpaid and shall maintain or hold in the sinking fund sufficient moneys to pay such maturing obligations. [1979 c.672 §§21,24; 2005 c.201 §12; 2009 c.753 §71]
2023 Oregon Revised Statutes › Volume : 13 - Housing, Games, Environment › Chapter 470 - Small Scale Local Energy Projects › Section 470.290 - Bond indebtedness limited to constitutional limit.

No bonds shall be issued or sold under ORS 470.220 to 470.290 nor indebtedness incurred thereunder, which singly, or in the aggregate with previous debts or liabilities incurred for small scale local energy projects, shall exceed any limitation provided in the Oregon Constitution at the date of the issuance and sale of such bonds. If the maximum aggregate principal sum of bonds authorized to be issued under ORS 470.220 to 470.290 exceeds any limitation provided in the Oregon Constitution, bonds shall be issued under ORS 470.220 to 470.290 in the aggregate principal sum of not to exceed that authorized under the limitation provided in the Oregon Constitution. [1979 c.672 §25]
2023 Oregon Revised Statutes › Volume : 13 - Housing, Games, Environment › Chapter 470 - Small Scale Local Energy Projects › Section 470.300 - Small Scale Local Energy Project Administration and Bond Sinking Fund; uses; sources.

(1) There hereby is created the Small Scale Local Energy Project Administration and Bond Sinking Fund, separate and distinct from the General Fund, to provide for payment of:
(a) Administrative expenses of the State Department of Energy and the Director of the State Department of Energy in processing applications, investigating potential small scale local energy projects and proposed loans and servicing and collecting outstanding loans made from the Small Scale Local Energy Project Loan Fund, if the expense is not paid directly by the applicant.
(b) Administrative expenses of the State Treasurer in carrying out the duties, functions and powers imposed upon the State Treasurer by this chapter.
(c) Principal, interest and redemption premium, if any, of all bonds issued pursuant to the provisions of ORS 470.220 to 470.290 and Article XI-J of the Oregon Constitution.
(d) Net investment earnings on any funds loaned to municipal corporations but withheld as provided in ORS 470.230.
(e) Costs of issuing the bonds and of obtaining credit enhancement for the bonds.
(2) The fund created by subsection (1) of this section shall consist of:
(a) Application fees required by ORS 470.060, unless the department requires the applicant to pay the fee directly for a cost incurred in connection with the application.
(b) Repayment of moneys loaned to applicants from the Small Scale Local Energy Project Loan Fund, including interest on such moneys.
(c) Such moneys as may be appropriated to the fund by the Legislative Assembly.
(d) Moneys obtained from the sale of refunding bonds under ORS 470.220 to 470.290 and any accrued interest on such bonds.
(e) Moneys received from ad valorem taxes levied pursuant to Article XI-J of the Oregon Constitution, and all moneys that the Legislative Assembly may provide in lieu of such taxes.
(f) Interest earned on cash balances invested by the State Treasurer.
(g) Moneys transferred from the loan fund.
(h) Gifts, grants, donations or other moneys for promoting small scale local energy program loan purposes and goals.
(3) The director, with the approval of the State Treasurer, may transfer moneys from the sinking fund to the loan fund if:
(a) A cash flow projection shows that, for the term of the bonds outstanding at the time the director transfers the moneys, remaining moneys in the sinking fund, together with expected loan contract payments and fund earnings, will improve the financial basis of the program and will continue to be adequate to pay bond principal, interest, redemption premiums, if any, and administration costs; and
(b) The transfer will not create the need for issuance of any bonds.
(4) The director, with the approval of the State Treasurer, may establish separate and distinct accounts within the sinking fund to accomplish the purpose of this section. [1979 c.672 §26; 1981 c.50 §8; 1983 c.188 §6; 1985 c.805 §4; 1987 c.365 §6; 1993 c.496 §6; 2003 c.186 §73; 2005 c.201 §13; 2009 c.753 §72]
2023 Oregon Revised Statutes › Volume : 13 - Housing, Games, Environment › Chapter 470 - Small Scale Local Energy Projects › Section 470.310 - Procedure if sinking fund inadequate.

(1) If there are insufficient funds in the Small Scale Local Energy Project Administration and Bond Sinking Fund to make the payments referred to in ORS 470.300 (1), the Director of the State Department of Energy may request the funds necessary for such payments from the Legislative Assembly or the Emergency Board.
(2) When the director determines that moneys in sufficient amount are available in the sinking fund, the State Treasurer shall reimburse the General Fund without interest, in an amount equal to the amount allocated by the Legislative Assembly or the Emergency Board pursuant to subsection (1) of this section. The moneys used to reimburse the General Fund under this subsection shall not be considered a budget item on which a limitation is otherwise fixed by law, but shall be in addition to any specific appropriations or amounts authorized to be expended from continually appropriated moneys. [1979 c.672 §28; 2003 c.186 §74; 2009 c.753 §73]
2023 Oregon Revised Statutes › Volume : 13 - Housing, Games, Environment › Chapter 470 - Small Scale Local Energy Projects › Section 470.500 - Goals.

(1) The Director of the State Department of Energy shall administer the energy efficiency and sustainable technology loan program for the purpose of providing financing, promotion and technical support to encourage significant investments in energy efficiency, renewable energy and energy conservation.
(2) The goals of the loan program are to:
(a) Provide capital at the lowest possible cost for the purpose of supporting energy efficiency and conservation and renewable energy projects for residential and commercial structures;
(b) Expand, and to simplify taking advantage of, opportunities for small scale local energy project financing;
(c) Leverage multiple sources of public and private capital through a unified and strategic funding mechanism;
(d) Provide technical and financing information to the public and to businesses;
(e) Foster energy savings;
(f) Stimulate job growth; and
(g) Help substantially reduce carbon emissions. [2009 c.753 §2]
2023 Oregon Revised Statutes › Volume : 13 - Housing, Games, Environment › Chapter 470 - Small Scale Local Energy Projects › Section 470.505 - Delay or suspension of program.

Notwithstanding any other provision of this chapter, if the Director of the State Department of Energy determines that the State Department of Energy is unable to issue a sufficient number of energy efficiency and sustainable technology loans to offset the reasonable cost to the department of operating the loan program, the director may delay or suspend the energy efficiency and sustainable technology loan program in one or more utility service territories or may delay or suspend any feature of the energy efficiency and sustainable technology loan program. [2009 c.753 §2a; 2013 c.8 §14]
2023 Oregon Revised Statutes › Volume : 13 - Housing, Games, Environment › Chapter 470 - Small Scale Local Energy Projects › Section 470.510 - State Department of Energy may enter contracts for loan issuance; financing of loans; consent of utility.

(1) Except as provided in subsection (3) of this section, the State Department of Energy may enter into contracts for the issuance of energy efficiency and sustainable technology loans. Except as provided in ORS 470.700, the department shall finance the loans using moneys from the Small Scale Local Energy Project Loan Fund, the Energy Project Supplemental Fund or the Energy Project Bond Loan Fund, or from a combination of those funds.
(2) The sustainable energy project manager may enter into agreements with trade associations and other public and private entities for the promotion or marketing of the energy efficiency and sustainable technology loan program.
(3) The department must obtain the consent of the utility before operating an energy efficiency and sustainable technology loan program within the service territory of:
(a) An investor-owned electric utility that serves fewer than 20,000 customers; or
(b) An investor-owned gas utility that is actively administering an energy conservation program established:
(A) On or before January 1, 2009; and
(B) Without assistance from a nongovernmental entity that receives public purpose charge moneys under ORS 757.612. [2009 c.753 §3]
2023 Oregon Revised Statutes › Volume : 13 - Housing, Games, Environment › Chapter 470 - Small Scale Local Energy Projects › Section 470.520 - State Department of Energy may contract for performance of duties.

The State Department of Energy may contract for persons to perform the duties of the department under ORS 470.500 to 470.710 including, but not limited to, the development of standardized base efficiency packages and standardized optional packages, energy efficiency and sustainable technology loan evaluation, processing and collection. A loan processed by a person contracting with the department, other than a loan processed by a sustainable energy project manager, must include the department as a party to the loan. [2009 c.753 §5]
2023 Oregon Revised Statutes › Volume : 13 - Housing, Games, Environment › Chapter 470 - Small Scale Local Energy Projects › Section 470.525 - Quarterly report.

(1) The State Department of Energy shall send a quarterly report to the Small Scale Local Energy Project Advisory Committee. The report shall include, but need not be limited to, a summary of:
(a) The total amount of energy efficiency and sustainable technology loans issued;
(b) The types of projects being funded by the loans; and
(c) The characteristics of loan recipients.
(2) The committee shall review the report to determine whether the goals of the loan program are being implemented and whether applicable rules and statutory standards are met. The committee may send comments regarding the report to the Director of the State Department of Energy. [2009 c.753 §6]
2023 Oregon Revised Statutes › Volume : 13 - Housing, Games, Environment › Chapter 470 - Small Scale Local Energy Projects › Section 470.530 - Qualifications; duties; certification program.

(1) Except as provided in subsection (5) of this section, the Director of the State Department of Energy may establish qualifications for sustainable energy project managers and may exercise oversight to ensure compliance with those qualifications. A sustainable energy project manager shall provide the promotion, technical and financial support and verifications necessary to administer an energy efficiency and sustainable technology loan.
(2) A sustainable energy project manager may administer an energy efficiency and sustainable technology loan only within a utility service territory of an investor-owned or consumer-owned utility that provides electricity or gas services.
(3) A sustainable energy project manager shall serve the utility service territory for which the sustainable energy project manager has been selected by the director. The sustainable energy project manager shall provide loan program information and technical and financial information to promote energy efficiency and use of renewable energy at the neighborhood and community levels. The sustainable energy project manager shall be responsible for small scale local energy project verification and for monitoring program effectiveness for energy efficiency and sustainable technology loans and small scale local energy program loans. The sustainable energy project manager may administer the energy efficiency and sustainable technology loan program within the utility service territory.
(4) A city, county, metropolitan service district or other local government entity, or a nonprofit, for-profit, tribal or state entity, may be a sustainable energy project manager if the entity meets the qualifications established by the director under this section and is approved by the director to provide promotion, outreach and customer support related to the energy efficiency and sustainable technology loan program within a utility service territory. The Public Purpose Fund Administrator is an ex officio sustainable energy project manager. The Public Purpose Fund Administrator shall act as the sustainable energy project manager in any utility service territory that is not served by another sustainable energy project manager.
(5) The director shall establish a sustainable energy project manager certification program. However, the Public Purpose Fund Administrator or a consumer-owned utility is not required to obtain a sustainable energy project manager certificate and the Public Purpose Fund Administrator is not subject to any qualifications established by the director for a sustainable energy project manager. [2009 c.753 §7; 2010 c.92 §8; 2013 c.8 §5]
2023 Oregon Revised Statutes › Volume : 13 - Housing, Games, Environment › Chapter 470 - Small Scale Local Energy Projects › Section 470.535 - Applications for certification as project manager; selection factors.

(1) The Director of the State Department of Energy shall initiate the certification process for a sustainable energy project manager by publishing a request for proposals.
(2) An applicant for certification as a sustainable energy project manager shall submit information to the director that includes:
(a) Background information about the applicant including, but not limited to, the qualifications, relevant experience, financial status and staff of the applicant;
(b) A proposed plan for implementing and administering the goals and requirements of the energy efficiency and sustainable technology loan program in the utility service territory; and
(c) Any additional information required by the director by rule.
(3) After reviewing all applications received, the director may select a sustainable energy project manager. In selecting the sustainable energy project manager, the director shall consider the following factors:
(a) The organizational experience of the applicant and the capacity of the applicant to successfully implement the energy efficiency and sustainable technology loan program goals and requirements.
(b) The strength of the applicant’s proposed plan for implementing the goals and requirements of the energy efficiency and sustainable technology loan program.
(c) The cost at which the applicant can conduct outreach, promotion, loan applicant support and project verification services necessary to implement the energy efficiency and sustainable technology loan program.
(d) Any other factors the director adopts by rule or directive.
(4) An applicant may not be certified as a sustainable energy project manager if the applicant has a fiduciary or other obligation that creates an actual or apparent conflict of interest that may interfere with achieving the goals of the energy efficiency and sustainable technology loan program. [2009 c.753 §8; 2013 c.8 §6]
2023 Oregon Revised Statutes › Volume : 13 - Housing, Games, Environment › Chapter 470 - Small Scale Local Energy Projects › Section 470.540 - State Department of Energy to notify unsuccessful applicants; time- table for certification of project manager.

(1) Upon selecting a proposed sustainable energy project manager, the Director of the State Department of Energy shall notify all unsuccessful applicants for the position that another candidate is proposed for appointment. The director shall negotiate with the proposed sustainable energy project manager regarding any modifications to the service cost estimates or other features of the applicant’s proposed plan that are necessary to ensure that the applicant will meet the goals and requirements of the energy efficiency and sustainable technology loan program and State Department of Energy rules.
(2) To the extent practicable, the director shall certify a sustainable energy project manager not later than four months after publication of the request for proposals and not later than two months after the selection of the proposed sustainable energy project manager. However, the director may at any time select a different applicant as the proposed sustainable energy project manager or may reinitiate the certification process.
(3) Upon deciding to certify the proposed sustainable energy project manager, the director shall give notice of the decision to all unsuccessful candidates, the public and the Small Scale Local Energy Project Advisory Committee. The director may approve the final certification of the sustainable energy project manager if:
(a) A request to appeal under ORS 470.545 is not filed within 15 days after the date the notice is sent; and
(b) The committee does not undertake a review of the proposed certification within 15 days after the date the notice is sent. [2009 c.753 §9; 2013 c.8 §15]
2023 Oregon Revised Statutes › Volume : 13 - Housing, Games, Environment › Chapter 470 - Small Scale Local Energy Projects › Section 470.545 - Appeal of certification decision; fee.

(1) A person that believes a decision of the Director of the State Department of Energy to certify a sustainable energy project manager is inconsistent with applicable rules or statutes may file a request to appeal with the Small Scale Local Energy Project Advisory Committee. Unless the request for appeal is filed by a nonprofit entity, the request must be accompanied by a $2,000 appeal fee. The fee shall be waived for a nonprofit entity. The committee may initiate a review on its own motion.
(2) A majority of the committee may authorize the presiding officer of the committee to appeal the certification decision to the Governor. The presiding officer may initiate an appeal to the Governor no later than 30 days after receiving a request for appeal or 15 days after the committee initiates a review on its own motion.
(3) The decision of the Governor is final. If the Governor does not act within 30 days after receiving the appeal from the presiding officer of the committee, the appeal is denied. [2009 c.753 §10]
2023 Oregon Revised Statutes › Volume : 13 - Housing, Games, Environment › Chapter 470 - Small Scale Local Energy Projects › Section 470.550 - Term of certification of project manager; certification approval letter; conditions for termination of certification.

(1) Unless the sustainable energy project manager is the Public Purpose Fund Administrator or a consumer-owned utility, the certification of a sustainable energy project manager shall be for a five-year term. The Director of the State Department of Energy shall issue the sustainable energy project manager a certification approval letter that states any conditions applicable to the certification.
(2) The director may terminate the certification of a sustainable energy project manager for:
(a) Failure to adequately implement an applicable plan for implementing the energy efficiency and sustainable technology loan program;
(b) Noncompliance with the regulatory or statutory requirements of the energy efficiency and sustainable technology loan program;
(c) Failure to meet any sustainable energy project manager criteria established by the director; or
(d) Failure to perform other certification conditions. [2009 c.753 §11; 2013 c.8 §16]
2023 Oregon Revised Statutes › Volume : 13 - Housing, Games, Environment › Chapter 470 - Small Scale Local Energy Projects › Section 470.560 - Rules; certification standards; provision for preferred service providers.

(1) The State Department of Energy shall adopt rules establishing certification standards for primary contractors participating in the construction of small scale local energy projects financed through the energy efficiency and sustainable technology loan program. The department shall design the standards to ensure that the project work performed by a primary contractor holding the certification and all the primary contractor’s subcontractors is of high quality and will result in a high degree of customer satisfaction.
(2) The certification standards established by the department must, at a minimum, require that the primary contractor:
(a) Prove that the primary contractor and the primary contractor’s subcontractors have sufficient skill to successfully install energy efficiency, renewable energy or weatherization projects.
(b) Not be a contractor listed by the Commissioner of the Bureau of Labor and Industries under ORS 279C.860 as ineligible to receive a contract or subcontract for public works.
(c) Be an equal opportunity employer or small business or be a disadvantaged business enterprise, a minority-owned business, a woman-owned business, a veteran-owned business or an emerging small business, as those terms are defined in ORS 200.005.
(d) Demonstrate a history of compliance with the rules and other requirements of the Construction Contractors Board and of the Workers’ Compensation Division and the Occupational Safety and Health Division of the Department of Consumer and Business Services.
(e) Employ at least 80 percent of employees used for energy efficiency and sustainable technology loan program projects from the local work force, if a sufficient supply of skilled workers is available locally.
(f) Demonstrate a history of compliance with federal and state wage and hour laws.
(g) Pay wages to employees used for energy efficiency and sustainable technology loan program projects at a rate equal to at least 180 percent of the state minimum wage.
(3) The State Department of Energy shall consult with the Public Purpose Fund Administrator and utilities when developing certification standards for primary contractors.
(4) The Construction Contractors Board may issue a qualifying primary contractor a certification authorizing the primary contractor to participate in the construction of small scale local energy projects financed through the energy efficiency and sustainable technology loan program. A primary contractor seeking certification shall apply to the board as provided under ORS 701.119.
(5) The State Department of Energy shall identify certified primary contractors that provide employees with health insurance benefits as preferred service providers and may take other actions as practicable to encourage certified primary contractors to provide employees with health insurance benefits. [2009 c.753 §13; 2013 c.8 §2; 2015 c.565 §23; 2023 c.497 §24]
2023 Oregon Revised Statutes › Volume : 13 - Housing, Games, Environment › Chapter 470 - Small Scale Local Energy Projects › Section 470.565 - Loan applicant request for energy savings projection; processing of loan applications.

(1) At the request of a loan applicant, a primary contractor that is authorized to participate in the construction of small scale local energy projects financed through the energy efficiency and sustainable technology loan program may conduct an energy savings projection or similar evaluation for a property and conduct post-project verifications of energy savings in a utility service territory not served by a sustainable energy project manager.
(2) The State Department of Energy shall process a loan application submitted by an applicant in a utility service territory not served by a sustainable energy project manager in the same manner as an application submitted through a sustainable energy project manager.
(3) The department may approve an energy efficiency and sustainable technology loan for property located in a utility service territory not served by a sustainable energy project manager if:
(a) On-bill financing is available to the loan applicant through a local utility serving the benefited property; or
(b) The department and the loan applicant agree to an alternative method for ensuring repayment of the loan. [2009 c.753 §14; 2013 c.8 §8]
2023 Oregon Revised Statutes › Volume : 13 - Housing, Games, Environment › Chapter 470 - Small Scale Local Energy Projects › Section 470.570 - Energy Project Supplemental Fund; sources; uses.

(1) The Energy Project Supplemental Fund is established in the State Treasury, separate and distinct from the General Fund. Interest earned by the Energy Project Supplemental Fund shall be credited to the Energy Project Supplemental Fund.
(2) The Energy Project Supplemental Fund shall consist of any moneys received for purposes of the energy efficiency and sustainable technology loan program or for small scale local energy program loans other than moneys deposited to:
(a) The Small Scale Local Energy Project Loan Fund.
(b) The Small Scale Local Energy Project Administration and Bond Sinking Fund.
(c) The Energy Project Bond Loan Fund.
(d) The Jobs, Energy and Schools Fund, except that Jobs, Energy and Schools Fund moneys used to offset the energy efficiency and sustainable technology loan or small scale local energy program loan repayment obligation of a borrower shall be deposited to the Energy Project Supplemental Fund.
(e) The Energy Revenue Bond Repayment Fund.
(3) Moneys in the Energy Project Supplemental Fund are continuously appropriated to the State Department of Energy for the following purposes:
(a) To provide funding, separately or in conjunction with moneys from the Small Scale Local Energy Project Loan Fund and the Energy Project Bond Loan Fund, for energy efficiency and sustainable technology loans and small scale local energy program loans;
(b) For transfer to the Energy Revenue Bond Repayment Fund, to the extent that moneys available in the Energy Project Bond Loan Fund are insufficient to provide the amount determined prudent by the Director of the State Department of Energy under ORS 470.610 (2); and
(c) To pay costs incurred by the State Department of Energy or the director in implementing or administering loan programs for small scale local energy projects.
(4) The State Treasurer may establish any subaccounts in the Energy Project Supplemental Fund that the treasurer or the director considers reasonable for the efficient administration of the fund. [2009 c.753 §15; 2011 c.467 §12]
2023 Oregon Revised Statutes › Volume : 13 - Housing, Games, Environment › Chapter 470 - Small Scale Local Energy Projects › Section 470.575 - Jobs, Energy and Schools Fund; sources; uses.

(1) The Jobs, Energy and Schools Fund is established in the State Treasury, separate and distinct from the General Fund. Interest earned by the Jobs, Energy and Schools Fund shall be credited to the Jobs, Energy and Schools Fund. Moneys in the fund are continuously appropriated to the State Department of Energy for use as provided in this section.
(2) The fund shall consist of any moneys directed by law, gift, grant or donation to the fund and moneys from base efficiency package fees collected pursuant to ORS 470.655.
(3) The department shall use fund moneys:
(a) To promote energy efficiency, renewable energy and energy conservation projects, including the clean energy deployment program established in ORS 470.810, that would otherwise result in a higher overall cost to the applicant when energy costs and the financing and repayment costs for the project are considered, by using the fund moneys to help reduce the overall financing costs associated with related projects; or
(b) To transfer to an appropriate fund for carrying out any purpose under this chapter specified as a condition of a gift, grant or donation. [2009 c.753 §16; 2010 c.92 §2; 2011 c.467 §9; 2013 c.656 §18]
2023 Oregon Revised Statutes › Volume : 13 - Housing, Games, Environment › Chapter 470 - Small Scale Local Energy Projects › Section 470.580 - Energy Project Bond Loan Fund; sources; uses.

(1) The Energy Project Bond Loan Fund is established in the State Treasury, separate and distinct from the General Fund. Interest earned by the Energy Project Bond Loan Fund shall be credited to the fund.
(2) The fund shall consist of:
(a) Net proceeds from the issuance of revenue bonds under ORS 470.610 that are deposited to the fund;
(b) Moneys from project initiation fees under ORS 470.655;
(c) Repayments of any moneys loaned from the fund and interest earned on those moneys;
(d) Any moneys appropriated to the fund;
(e) Moneys from the sale of refunding bonds under ORS 470.610 and any accrued interest on those bonds; and
(f) Interest earned on cash balances invested under ORS 470.595.
(3) Moneys in the fund are continuously appropriated to the State Department of Energy for the following purposes:
(a) Subject to ORS 470.620, to issue and administer small scale local energy program loans and energy efficiency and sustainable technology loans and to administer the loan programs.
(b) For transfer to the Energy Revenue Bond Repayment Fund for the payment of bond obligations, the costs of issuing bonds described in subsection (2) of this section and the costs of administering the revenue bond program and for the funding of bond payment reserves. Transfers under this paragraph shall be carried out as determined by the Director of the State Department of Energy under ORS 470.610 (2).
(4) The State Treasurer may establish any subaccounts in the Energy Project Bond Loan Fund that the treasurer or the director considers reasonable for the efficient administration of the fund. [2009 c.753 §17]
2023 Oregon Revised Statutes › Volume : 13 - Housing, Games, Environment › Chapter 470 - Small Scale Local Energy Projects › Section 470.585 - Energy Revenue Bond Repayment Fund; uses.

(1) The Energy Revenue Bond Repayment Fund is established in the State Treasury, separate and distinct from the General Fund. Interest earned by the Energy Revenue Bond Repayment Fund shall be credited to the fund. Moneys in the fund may be invested as provided in ORS 293.701 to 293.857. Moneys in the fund are continuously appropriated to the State Department of Energy for the payment of:
(a) Administrative expenses of the State Department of Energy and the Director of the State Department of Energy for energy efficiency and sustainable technology loans and small scale local energy program loans made from the proceeds of energy project revenue bonds, to the extent those expenses are not paid from the Energy Project Bond Loan Fund, the Energy Project Supplemental Fund or the Jobs, Energy and Schools Fund;
(b) Administrative expenses incurred by the State Treasurer under this chapter;
(c) Principal, interest and any redemption premiums of energy project revenue bonds;
(d) Net investment earnings on moneys loaned to municipal corporations from energy project revenue bonds under ORS 470.610 but withheld as provided in ORS 470.230; and
(e) Costs of issuing revenue bonds and obtaining credit enhancement for those revenue bonds.
(2) The Energy Revenue Bond Repayment Fund shall consist of moneys transferred to the fund from the Energy Project Bond Loan Fund and Energy Project Supplemental Fund by the State Treasurer as provided in ORS 470.610 (2). [2009 c.753 §18; 2011 c.467 §13]
2023 Oregon Revised Statutes › Volume : 13 - Housing, Games, Environment › Chapter 470 - Small Scale Local Energy Projects › Section 470.590 - Proposals; selection.

The State Department of Energy may request proposals for and select one or more financial managers for the energy efficiency and sustainable technology loan program. The function of a financial manager is:
(1) To assist in energy efficiency and sustainable technology loan program development;
(2) To cooperate with federal and state agencies and public and private entities for the purpose of securing federal funding, public and private investments of capital and gifts, grants and donations for the purpose of financing small scale local energy projects; and
(3) To provide a platform for the blending of private and public capital from various sources including, but not limited to, small scale local energy project financing, moneys from the Energy Project Bond Loan Fund, the Jobs, Energy and Schools Fund and the Energy Project Supplemental Fund, private activity bonds and grant moneys. [2009 c.753 §19; 2011 c.467 §14]
2023 Oregon Revised Statutes › Volume : 13 - Housing, Games, Environment › Chapter 470 - Small Scale Local Energy Projects › Section 470.595 - Investment with financial manager; rate of return.

Private utilities and other private entities may invest capital with an energy efficiency and sustainable technology loan program financial manager for use in carrying out the loan program. The Public Utility Commission may establish a reasonable rate of return that a financial manager may pay to a utility investing capital under this section. In establishing the rate of return, the commission shall consider the risk to the utility in providing the investment capital. [2009 c.753 §20]
2023 Oregon Revised Statutes › Volume : 13 - Housing, Games, Environment › Chapter 470 - Small Scale Local Energy Projects › Section 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:
(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]
2023 Oregon Revised Statutes › Volume : 13 - Housing, Games, Environment › Chapter 470 - Small Scale Local Energy Projects › Section 470.605 - Local governments may direct moneys to certain funds to finance loans; accounting of moneys.

(1) Subject to the approval of the Director of the State Department of Energy, a local government, public utility or other legally organized entity may direct moneys to the Energy Project Supplemental Fund or Jobs, Energy and Schools Fund for use within a limited geographic area of this state as a source of capital for financing energy efficiency and sustainable technology loans, small scale local energy program loans or loan offset grants.
(2) Any moneys deposited under this section shall be separately accounted for and shall be managed consistently with small scale local energy project goals and any agreement between the State Department of Energy and the entity providing the moneys. The moneys may be disbursed only for use as designated by, and in the geographic area designated by, the entity providing the moneys. [2009 c.753 §25; 2011 c.467 §15]
2023 Oregon Revised Statutes › Volume : 13 - Housing, Games, Environment › Chapter 470 - Small Scale Local Energy Projects › Section 470.610 - Issuance of bonds; written declarations of State Department of Energy.

(1) The State Treasurer, at the request of the Director of the State Department of Energy, from time to time may issue and sell revenue bonds in the name of and on behalf of the State of Oregon in compliance with the applicable provisions of ORS chapter 286A in the principal amount necessary to carry out the purposes of ORS 470.500 to 470.710, or for paying or refunding any revenue bonds previously issued on behalf of the State Department of Energy for those purposes. At least once every six months, the director shall estimate the anticipated demand for loans under the energy efficiency and sustainable technology loan program, and shall make a written declaration of this amount to the State Treasurer.
(2) All bonds shall be special revenue obligations of the State of Oregon, and, unless paid from the proceeds of other bonds, shall be payable as to principal, redemption premium, if any, and interest, through the Energy Revenue Bond Repayment Fund solely from the revenues, moneys and other assets of the Energy Project Bond Loan Fund and the Energy Project Supplemental Fund that may be pledged for that payment. The Director of the State Department of Energy shall determine for each fiscal quarter the amount that will fall due during that fiscal quarter for bonds issued under this section, other amounts described in ORS 470.585 and any expected significant changes in bond obligations for upcoming fiscal quarters and the amount necessary to adequately fund reserves. The director shall request that the State Treasurer make transfers from the Energy Project Bond Loan Fund and Energy Project Supplemental Fund to the Energy Revenue Bond Repayment Fund as the director believes prudent to ensure the continuing payment of maturing obligations and the funding of reserves.
(3) Prior to an issuance of revenue bonds under this section, the director shall prepare and sign a written declaration setting forth the amount of the bonds to be issued and the terms and conditions for issuance. If the State Treasurer approves the declaration, the State Treasurer shall certify the approval on the declaration. The approved declaration shall be known as an "energy revenue bond declaration." Each bond declaration shall be deemed to be and shall constitute conclusive proof of the authorization to issue the bonds described in the bond declaration and may contain further pledges and covenants as determined by the director or the State Treasurer. [2009 c.753 §22; 2010 c.92 §5]
2023 Oregon Revised Statutes › Volume : 13 - Housing, Games, Environment › Chapter 470 - Small Scale Local Energy Projects › Section 470.615 - Payment of bonds.

(1) Revenue bonds issued under ORS 470.610 do not constitute a debt, liability or general obligation of this state or any political subdivision of this state or a pledge of the faith and credit of this state or any political subdivision of this state, but shall be payable solely from the revenues, moneys and other assets of the Energy Project Bond Loan Fund and the Energy Project Supplemental Fund that are pledged to the repayment in the energy revenue bond declaration.
(2) Each revenue bond issued under ORS 470.610 shall contain on the face of the bond a statement that the department is not obligated to pay the bond or the interest on the bond except from the revenues or assets pledged for those payments and that neither the faith and credit nor the taxing power of this state or any political subdivision of this state is pledged to the payment of the principal of or the interest on the bond.
(3) A utility or sustainable energy project manager is not liable for the payment of the principal of or the interest on any bond issued under this section. [2009 c.753 §23]
2023 Oregon Revised Statutes › Volume : 13 - Housing, Games, Environment › Chapter 470 - Small Scale Local Energy Projects › Section 470.620 - Bond pledges; trustees.

The bonds issued by the State Treasurer under ORS 470.610 and the energy revenue bond declaration may:
(1) Pledge all or any part of the fees received by the State Department of Energy under ORS 470.655 and all or any part of the moneys received in payment of energy efficiency and sustainable technology loans and small scale local energy program loans that are funded with revenue from bonds issued under ORS 470.610, interest on those amounts and other moneys credited to the Energy Project Bond Loan Fund.
(2) Pledge any moneys, loans or grants received from the federal government, this state or any city, county or political subdivision of this state for payment of revenue bonds issued under ORS 470.610.
(3) Vest in a trustee appointed by the Director of the State Department of Energy and approved by the State Treasurer such property, rights, powers and duties in trust as the director may determine. [2009 c.753 §24]
2023 Oregon Revised Statutes › Volume : 13 - Housing, Games, Environment › Chapter 470 - Small Scale Local Energy Projects › Section 470.630 - Form of disbursement; conditions for issuance.

(1) The State Department of Energy may disburse energy efficiency and sustainable technology loan and small scale local energy program loan moneys by providing the loan moneys through a sustainable energy project manager or providing the loan moneys to or through an entity described in ORS 470.060. Loan moneys may be disbursed through a sustainable energy project manager only for the purpose of enabling the sustainable energy project manager to issue energy efficiency and sustainable technology loans and small scale local energy program loans to applicants in the utility service territory served by the sustainable energy project manager.
(2) The sustainable energy project manager may issue a loan from moneys disbursed under this section only if adequate security exists to ensure repayment of the loan. An energy efficiency and sustainable technology loan from a sustainable energy project manager to an applicant located in the utility service territory served by the sustainable energy project manager must have the features described in ORS 470.150 and 470.645 and is subject to the requirements and processes imposed under ORS 470.500 to 470.710 for energy efficiency and sustainable technology loans issued by the Director of the State Department of Energy. A sustainable energy project manager that issues an energy efficiency and sustainable technology loan to support a small scale local energy project may record a fixture filing and lien on the property that benefits from the small scale local energy project as provided in ORS 470.680 or 470.685. [2009 c.753 §26; 2013 c.8 §9]
2023 Oregon Revised Statutes › Volume : 13 - Housing, Games, Environment › Chapter 470 - Small Scale Local Energy Projects › Section 470.640 - Amount of loans; exceptions.

(1) Except as provided in subsection (2) of this section, the amount of an energy efficiency and sustainable technology loan may not exceed $40,000 for residential dwellings served by a single meter of the utility that is to provide on-bill financing. The loan limit described in this subsection does not apply to other buildings such as multifamily housing and mixed-use structures.
(2) The loan amount limit described in subsection (1) of this section shall increase annually on January 1 of each year, beginning January 1, 2011. The loan amount limit shall increase from the most recently established loan amount limit by a percentage equal to the percentage increase in the Consumer Price Index for All Urban Consumers, West Region (All Items), as published by the Bureau of Labor Statistics of the United States Department of Labor. [2009 c.753 §28; 2010 c.92 §6; 2019 c.57 §26]
2023 Oregon Revised Statutes › Volume : 13 - Housing, Games, Environment › Chapter 470 - Small Scale Local Energy Projects › Section 470.645 - Application for loan; contents.

An application for an energy efficiency and sustainable technology loan must contain:
(1) Information sufficient to identify real or personal property located within this state against which a fixture filing and lien may be filed under ORS 470.680 or 470.685 to secure the loan and sufficient to allow verification that the property owner is the applicant or has consented to the fixture filing and lien;
(2) A clear and conspicuous disclosure:
(a) That a lien or other form of security for the energy efficiency and sustainable technology loan need not be paid in full upon a sale of the property, but all amounts due under the repayment plan as of the sale date must be paid before the sale closes; and
(b) That some lenders may be unwilling to make a mortgage on a property that is subject to a lien or other form of security for the energy efficiency and sustainable technology loan;
(3) The loan applicant must sign a loan contract that recites all terms and conditions required under this chapter for an energy efficiency and sustainable technology loan; and
(4) The State Department of Energy must be satisfied that all conditions required under ORS 470.090 to support the loan have been satisfied. [2009 c.753 §29]
2023 Oregon Revised Statutes › Volume : 13 - Housing, Games, Environment › Chapter 470 - Small Scale Local Energy Projects › Section 470.650 - Residential small scale local energy projects; weatherization program.

(1) If an applicant for a loan to construct a residential small scale local energy project has household income that may qualify the person for a weatherization program operated by the Housing and Community Services Department, the sustainable energy project manager shall refer the applicant to the department. This subsection does not prohibit a sustainable energy project manager from accepting an application from a person who has been denied, or is receiving, assistance under a department weatherization program.
(2) If an applicant for a loan to construct a residential small scale local energy project has household income that is less than 250 percent of the federal poverty guidelines, upon request by the applicant, the State Department of Energy may waive all or part of an application fee for the loan and may waive all or part of the project initiation fee. [2009 c.753 §30; 2013 c.8 §17]