Or. Admin. Code § 340-178-0060 - Interest Rate Payment Confirmation

The Department shall issue an interest rate payment confirmation letter to a lender where the lender has provided a loan to provide UST project work where:

(1) A reduced interest rate certificate has been issued to the loan applicant;

(2) The borrower's interest rate and the lender's interest rate meet the requirements of these rules;

(3) The maturity date of the loan does not exceed 20 years from the initial loan closing date;

(4) The commercial lending institution has approved the loan, subject to receiving the loan guarantee confirmation letter from the Department; and

(5) The lender's interest rate has been provided to the Department.

Notes

Or. Admin. Code § 340-178-0060

DEQ 29-1991(Temp), f. 12-18-91, cert. ef. 12-20-91; DEQ 14-1992, f. & cert. ef. 6-11-92

Stat. Auth.:ORS 466.706 -ORS 466.895 &ORS 466.995

Stats. Implemented: OL 1991, Ch. 863, Sec. 6 & 6a