Oregon § 541.696 Standards for security of loans from account; rules

Oregon Statutes

§ 541.696 — Standards for security of loans from account; rules

Oregon § 541.696

Vol.15

Title 45Water Resources; Irrigation, Drainage, Flood Control, Reclamation

Ch. 541Water Distributors; Water Releases; Conservation and Storage;

This text of Oregon § 541.696 (Standards for security of loans from account; rules) is published on Counsel Stack Legal Research, covering Oregon primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Or. Rev. Stat. § 541.696 (2026).

Text

(1)The Water Resources Commission shall adopt rules establishing standards for borrowers obtaining loans issued from the Water Supply Development Account. The commission shall design the standards to ensure that all loans have a high probability of repayment and that all loans are adequately secured in the event of a default. The commission shall solicit comments from the Oregon Department of Administrative Services and the State Treasurer when designing the standards. The standards may include, but need not be limited to, standards that give preference to entities with ad valorem taxing authority.

(2)If the Water Resources Department approves a loan from the account for the implementation of a water development project, the department may require that the applicant enter into a loan con

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(1) The Water Resources Commission shall adopt rules establishing standards for borrowers obtaining loans issued from the Water Supply Development Account. The commission shall design the standards to ensure that all loans have a high probability of repayment and that all loans are adequately secured in the event of a default. The commission shall solicit comments from the Oregon Department of Administrative Services and the State Treasurer when designing the standards. The standards may include, but need not be limited to, standards that give preference to entities with ad valorem taxing authority.
(2) If the Water Resources Department approves a loan from the account for the implementation of a water development project, the department may require that the applicant enter into a loan contract, secured by a first lien or by other good and sufficient collateral.