OAR 123-027-0070: Federally Authorized Project Award and Funding

(1) The Authority and the Port shall execute a contract prior to disbursal of moneys from the Fund. The contract shall be in a form and content as provided by the Authority. (2) Payments from the Fund shall be disbursed in accordance with the executed contract. (3) The Port must provide the Authority with a written report, records, and a detailed accounting of costs in the format required by the Authority : (a) Within 30 days following the close of each federal fiscal year; and (b) Within 90 days following final completion of a project. (4) Any amount disbursed from the Fund and not used for a project must be returned to the Authority.