OAR 123-030-0020: Application Requirements

An eligible port district may submit an application after consulting with Authority staff on a preliminary determination of eligibility and otherwise following the Authority procedures for submitting applications. (1) The application must be in the form provided by the Authority and must contain or be accompanied by such information as the Authority may require. The Authority will process only completed applications. (2) All applications for loans from the Oregon Port Revolving Fund must indicate the proposed collateral to secure the loan and must include the following information: (a) If the port's taxing authority is proposed to be pledged as collateral, a statement certified by the county assessor's office that sets forth the current millage rate, the projected new millage rate, if required to pay off the loan, the port's maximum current limitation, and a statement indicating whether the proposed pledge is within the port's current maximum mill [MB2] age limitation; (b) If any of the port's personal or real property is proposed to be pledged as collateral, the Authority may require a formal appraisal, certified by an appropriate licensed authority, attesting to the value of all collateral proposed to be held as security.