Oregon Administrative Rules › Chapter 731 - DEPARTMENT OF TRANSPORTATION › Division 30 - OREGON TRANSPORTATION INFRASTRUCTURE FUND › Section 731-030-0030 - Definitions

Current through Register Vol. 63, No. 7, July 1, 2024
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