Oregon Administrative Rules › Chapter 690 - WATER RESOURCES DEPARTMENT › Division 95 - COLUMBIA RIVER BASIN WATER DEVELOPMENT LOAN PROGRAM › Section 690-095-0010 - Definitions

Current through Register Vol. 63, No. 7, July 1, 2024
The words and phrases used in these rules have the meaning
				given in ORS 541.600 and ORS
				541.700, unless they are
				otherwise specifically defined in this division.
(1) "Adequate Security" means the pledge of
			 real or personal property or a credit enhancement or other collateral of value
			 authorized by the director to secure a loan against default.
(2) "Applicant" means a qualified water
			 developer applying to borrow moneys through the loan program for a water
			 development project in the Columbia River Basin.
(3) "Application" includes all documents and
			 forms required by the department under these rules and pursuant to ORS
			 541.600 to
			 541.855.
(4) "Bonds" mean the State of Oregon general
			 obligation bonds issued under Article XI-I(1) of the Oregon Constitution to
			 fund the loan program.
(5)
			 "Columbia River Basin" means the area of land comprising the drainage areas of
			 all river basins within Oregon that drain directly to the Columbia River or
			 Snake River and includes the main stem of the Columbia River.
(6) "Commission" means the Oregon Water
			 Resources Commission.
(7)
			 "Community" means an incorporated or unincorporated town or locality with more
			 than three service connections.
(8)
			 "Department" means the Oregon Water Resources Department.
(9) "Director" means the director of the
			 Oregon Water Resources Department or the director's designee.
(10) "Federal Water Development Project"
			 means any water development project that receives funding from the federal
			 government, or any agency or instrumentality of the United States.
(11) "Loan" means the moneys loaned by the
			 department under the loan program to finance a water development
			 project.
(12) "Loan Advisory Board"
			 means a board appointed by the director to review applications made under
			 Section 20 of chapter 907, Oregon Laws 2009 and make recommendations thereon to
			 the director.
(13) "Loan Document"
			 means the loan agreement, any supplemental loan agreement, promissory note,
			 mortgage, security agreement and any related documents, including but not
			 limited to any pledge of or lien against collateral, entered into by the
			 department and an applicant related to a loan from the department to a borrower
			 under the loan program, and any documentation required by the department to
			 change a loan's terms and conditions.
(14) "Loan Program" means the Columbia River
			 Basin Water Development Loan Program.
(15) "Provider of water for municipal
			 purposes" means a public body as defined in ORS
			 174.109, a community or a
			 private entity whose primary purpose is to operate a water distribution system
			 that delivers potable water for community needs, either to individual customers
			 or through another water distribution system.
(16) "Municipality" means a city as defined
			 in ORS 174.100(2);
			 includes any incorporated village or town.
(17) "Qualified Water Developer" means a
			 "water developer" as defined in ORS
			 541.700 that is not a
			 municipality, a community or a provider of water for municipal
			 purposes.
(18) "Security Value"
			 means the value assigned by the department to the project or other
			 security.
(19) "Water Development
			 Fund" means the fund created through the adoption of Article XI-I of the
			 Constitution of Oregon by general election in November, 1977, as
			 amended.
Stat. Auth: ORS
				  536.027 &
				  541.646
Stats. Implemented: ORS 541-600 -
				  541.646