OAR 123-049-0035: Loan Fee

(1) The Authority may charge a loan fee on all funding awards, unless eligible for any exceptions established in this rule. The loan fee amount will be set by the IFA Board and may be periodically revised by that Board. (2) The fee may be included as part of the loan principal. A funding recipient shall pay the loan fee as part of the first disbursement of project funds. (3) Fee revenue shall be used for eligible Fund administrative costs incurred by the Authority. (4) A fee may only be charged to awards for public water systems determined to be non-disadvantaged as a part of Oregon Health Authority rating and ranking of preliminary letter of interest. (5) The loan interest rate plus assessed borrowing fees shall not exceed current market rate as determined by the Authority.