As used in ORS Chapter 470 and in these rules, the following
security" means the pledge of real or personal property given to secure a loan
against loss or credit enhancement, guaranty or other security of value
authorized by ORS 470.170, given as assurance that
the loan will be paid.
"Alternative fuel project" means sub-sections (a) and (b):
The purchase of a fleet of vehicles that
are modified or acquired directly from a factory and that:
(A) Use an alternative fuel including
electricity, gasohol with at least twenty percent denatured alcohol content,
hydrogen, hythane, methane, methanol, natural gas, propane, biodiesel or any
other fuel approved by the Director; and
(B) Produce lower exhaust emissions or are
more energy efficient than those fueled by gasoline.
(b) A facility, including a fueling station,
necessary to operate alternative fuel vehicles.
(3) "Alternative Fuel Vehicle Revolving Fund
Program" means the loan program established by Oregon Laws 2013, chapter 774,
sections 1 through 7 for public bodies defined in ORS
174.109 and federally recognized
Indian tribes in Oregon.
"Applicant" means a loan program applicant.
(5) "Application" means a completed loan
application on a Department-approved form that contains all required
information, is dated and signed by an authorized representative of the
applicant, and is accompanied by the required documentation and the application
and underwriting fees. The term "application" includes all documentation
submitted in conjunction with a loan application, whether at the time of
original submission of the loan application or later and all modifications of
the application that was originally submitted.
(6) "Biomass" means plant and animal matter,
but not fossil fuels.
"Cogeneration" means the sequential production of electrical or mechanical
energy and useful thermal energy from a primary source including but not
limited to oil, natural gas or biomass. Cogeneration must qualify under the
Small Scale Local Energy Loan Program Technical Requirements.
(8) "Committee" means the Small Scale Local
Energy Project Advisory Committee.
"Conservation measure" means a system,
component of a system, mechanism or series of mechanisms, support service or
combination thereof that:
(a) Reduces the use
of energy at the project site;
Directly avoids the loss of energy in the transmission of energy;
(c) Conserves energy used in transportation
with the energy savings being substantially in Oregon;
(d) Is a cogeneration project; or
Increases the production or efficiency of
or extends operating life of a system or project otherwise described in OAR
, including but not limited to restarting a dormant project.
fuels" means purchased electricity or fossil fuels.
(11) "Creditworthy" means, in regard to an
applicant, able to repay its debts as they become due, as evidenced by a
satisfactory credit history, sufficient financial resources or other indication
of financial strength as approved by the Department.
(12) "Delinquent account" means a loan that
has not been paid in accordance with the terms of the underlying loan
project" means a project that showcases new or improved technologies or designs
that promise cost-effective production or conservation of energy if adopted by
means Oregon Department of Energy.
(15) "Director" means the Director of the
Department or designee.
"Energy need" means any of the energy demands forecasted by the Department
under ORS 469.070 and the need to save
energy to cut costs.
"Financial feasibility" means that:
primary repayment source for the loan has been identified, the applicant is
creditworthy and the project is financially viable; and
(b) Adequate security is offered to provide a
secondary source of repayment.
(18) "Financial statement" means a report of
a person's financial operations or condition including but not limited to
balance sheets, statements of financial condition, statements of financial
position, income statements, statement of earnings, statements of revenues and
expenses, statements of profit and loss, statements of operations, statements
of retained income, statements of cash flows, statements of changes in
financial position, pro forma statements, aging reports and any accounting
reports, reviews, audits, tax returns or other financial information submitted
as, or as a part of, a representation of financial condition in a Department
approved format using Generally Accepted Accounting Principles (GAAP).
(19) "Fleet" means two or more
vehicles used for commercial or governmental purposes primarily operated in
(20) "Interim loan" means
a disbursement of a program loan for the purpose of paying for pre-construction
and other approved project costs prior to permanent funding.
(21) "Loan contract" means, in addition to
the meaning set forth in ORS
470.050, the loan agreement and
all other documentation required by the Director to make a loan or change its
terms and conditions.
community or region" means one or more energy users in Oregon.
(23) "Municipal corporation" has the meaning
assigned to that term by ORS
(24) "Person" means a natural person or a
validly existing entity that is duly organized under the laws of a state,
including but not limited to a partnership.
(25) "Preference" means, in any choice
between financially feasible projects or applicants, preference under ORS
470.080 and these rules.
(26) "Primary repayment source"
means the business revenues produced by the borrower of a loan that is or will
be used to pay the debt service on a loan.
(27) "Program" means the Small Scale Local
Energy Loan Program.
"Project" has the meaning given to "small scale local energy project" in ORS
; including systems or
devices that implement one or more conservation measures, use renewable
resources to meet a local community or regional energy need in Oregon or are
recycling or alternative fuel projects. The project may produce heat,
electricity, mechanical action or alternative fuels. A project may also be an
improvement that increases the production or efficiency of or extends the
operating life of a system or device or project otherwise described in these
rules, including but not limited to restarting a dormant project. A project
(a) Must be primarily in Oregon but can
have a minor contiguous component in a neighboring state, or in the case of
energy conservation the project can provide substantial benefits to Oregon. The
components located in Oregon should exceed 70 percent of the portion of the
project cost financed by the program;
(b) Can directly or indirectly conserve
energy or enable the conservation of energy or use or enable the use of a
renewable resource, by the applicant or another person, to produce energy, as,
for example, power transmission or conditioning, energy storage or smart
(c) Can directly or
indirectly reduce the amount of energy needed in the construction and operation
of a facility, including the manufacture and transportation of construction
materials, but the project or components must meet acceptable sustainability
practices established in the Small Scale Local Energy Loan Program Technical
"Qualified" means, in regard to an applicant, able and eligible under the law
to apply for a loan and enter into a loan contract.
(30) "Recycling project" means a facility or
equipment that conserves energy by converting solid waste, as defined in ORS
459.005, into a new and usable
(31) "Renewable resource"
means solar, wind, geothermal, biomass, waste heat or water resource.
(32) "Security value" means the
value assigned by the Department, based upon an internal review or an appraisal
by a qualified third party acceptable to the Department, to the project or
security being offered as collateral for a loan.
(33) "Small business" has the meaning given
in ORS 470.050.
(34) "Small Scale Local Energy Loan Program
Technical Requirements" means the specific technical requirements of the
Department for certain projects. An application will be subject to the
Technical Requirements in effect on the date the Department receives a complete
(35) "Usable life" of
a project means the number of years that a project can likely function without
major repair or replacement.
"Waste heat" means produced but unused heat that can be applied to an energy