Or. Admin. Code § 690-095-0005 - Purpose, Statutory Authorization
(1) The Water Development Fund [Article
XI-I(1), Constitution of Oregon] provides financing for loans for the
construction of water development projects for irrigation, drainage, fish
protection, watershed restoration and municipal uses and for the acquisition of
easements and rights of way for water development projects authorized by
law.
(2) These rules establish
procedures and standards for administration of the Columbia River Basin Water
Development Loan Program to provide for loans that have a high probability of
repayment and are adequately secured in the event of default. The Columbia
River Basin Water Development Loan Program implements provisions of Chapter
907, Oregon Laws 2009 related to loans to finance water development projects in
the Columbia River Basin and various provisions of ORS Chapter 541, as amended
by Chapter 907. These rules are authorized by ORS
541.646 and ORS Chapter
183.
Notes
Stat. Auth: ORS 536.027 & 541.646
Stats. Implemented: ORS 541-600 - 541.646
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