OAR 330-110-0010: Definitions

As used in ORS Chapter 470 and in these rules, the following definitions apply: (1) "Adequate security" means the pledge of real or personal property given to secure a loan against loss or credit enhancement, guaranty or other security of value authorized by ORS 470.170, given as assurance that the loan will be paid. (2) "Alternative fuel project" means sub-sections (a) and (b): (a) The purchase of a fleet of vehicles that are modified or acquired directly from a factory and that: (A) Use an alternative fuel including electricity, gasohol with at least twenty percent denatured alcohol content, hydrogen, hythane, methane, methanol, natural gas, propane, biodiesel or any other fuel approved by the Director; and (B) Produce lower exhaust emissions or are more energy efficient than those fueled by gasoline. (b) A facility, including a fueling station, necessary to operate alternative fuel vehicles. (3) "Applicant" means a loan program applicant. (4) “Application” means a completed loan application on a Department-approved form that contains all required information, is dated and signed by an authorized representative of the applicant, and is accompanied by the required documentation and the application and underwriting fees. The term “application” includes all documentation submitted in conjunction with a loan application, whether at the time of original submission of the loan application or later and all modifications of the application that was originally submitted. (5) "Biomass" means plant and animal matter, but not fossil fuels. (6) "Cogeneration" means the sequential production of electrical or mechanical energy and useful thermal energy from a primary source including but not limited to oil, natural gas or biomass. Cogeneration must qualify under the Small Scale Local Energy Loan Program Technical Requirements. (7) "Committee" means the Small Scale Local Energy Project Advisory Committee. (8) "Conservation measure" means a system, component of a system, mechanism or series of mechanisms, support service or combination thereof that: (a) Reduces the use of energy at the project site; (b) Directly avoids the loss of energy in the transmission of energy; (c) Conserves energy used in transportation with the energy savings being substantially in Oregon; (d) Is a cogeneration project; or (e) Increases the production or efficiency of or extends operating life of a system or project otherwise described in OAR 330-110-0010, including but not limited to restarting a dormant project. (9) "Conventional fuels" means purchased electricity or fossil fuels. (10) "Creditworthy" means, in regard to an applicant, able to repay its debts as they become due, as evidenced by a satisfactory credit history, sufficient financial resources or other indication of financial strength as approved by the Department. (11) “Delinquent account” means a loan that has not been paid in accordance with the terms of the underlying loan documents. (12) "Demonstration project" means a project that showcases new or improved technologies or designs that promise cost-effective production or conservation of energy if adopted by the marketplace. (13) "Department" means Oregon Department of Energy. (14) "Director" means the Director of the Department or designee. (15) "Energy need" means any of the energy demands forecasted by the Department under ORS 469.070 and the need to save energy to cut costs. (16) “Financial feasibility” means that: (a) The primary repayment source for the loan has been identified, the applicant is creditworthy and the project is financially viable; and (b) Adequate security is offered to provide a secondary source of repayment. (17) "Financial statement" means a report of a person’s financial operations or condition including but not limited to balance sheets, statements of financial condition, statements of financial position, income statements, statement of earnings, statements of revenues and expenses, statements of profit and loss, statements of operations, statements of retained income, statements of cash flows, statements of changes in financial position, pro forma statements, aging reports and any accounting reports, reviews, audits, tax returns or other financial information submitted as, or as a part of, a representation of financial condition in a Department approved format using Generally Accepted Accounting Principles (GAAP). (18) "Fleet" means two or more vehicles used for commercial or governmental purposes primarily operated in Oregon. (19) "Interim loan" means a disbursement of a program loan for the purpose of paying for pre-construction and other approved project costs prior to permanent funding. (20) "Loan contract" means, in addition to the meaning set forth in ORS 470.050, the loan agreement and all other documentation required by the Director to make a loan or change its terms and conditions. (21) "Local community or region" means one or more energy users in Oregon. (22) "Municipal corporation" has the meaning assigned to that term by ORS 470.050. (23) "Person" means a natural person or a validly existing entity that is duly organized under the laws of a state, including but not limited to a partnership. (24) "Preference" means, in any choice between financially feasible projects or applicants, preference under ORS 470.080 and these rules. (25) “Primary repayment source” means the business revenues produced by the borrower of a loan that is or will be used to pay the debt service on a loan. (26) "Program" means the Small Scale Local Energy Loan Program. (27) "Project" has the meaning given to “small scale local energy project” in ORS 470.050; including systems or devices that implement one or more conservation measures, use renewable resources to meet a local community or regional energy need in Oregon or are recycling or alternative fuel projects. The project may produce heat, electricity, mechanical action or alternative fuels. A project may also be an improvement that increases the production or efficiency of or extends the operating life of a system or device or project otherwise described in these rules, including but not limited to restarting a dormant project. A project also: (a) Must be primarily in Oregon but can have a minor contiguous component in a neighboring state, or in the case of energy conservation the project can provide substantial benefits to Oregon. The components located in Oregon should exceed 70 percent of the portion of the project cost financed by the program; (b) Can directly or indirectly conserve energy or enable the conservation of energy or use or enable the use of a renewable resource, by the applicant or another person, to produce energy, as, for example, power transmission or conditioning, energy storage or smart metering; and (c) Can directly or indirectly reduce the amount of energy needed in the construction and operation of a facility, including the manufacture and transportation of construction materials, but the project or components must meet acceptable sustainability practices established in the Small Scale Local Energy Loan Program Technical Requirements. (28) "Qualified" means, in regard to an applicant, able and eligible under the law to apply for a loan and enter into a loan contract. (29) "Recycling project" means a facility or equipment that conserves energy by converting solid waste, as defined in ORS 459.005, into a new and usable product. (30) "Renewable resource" means solar, wind, geothermal, biomass, waste heat or water resource. (31) "Security value" means the value assigned by the Department, based upon an internal review or an appraisal by a qualified third party acceptable to the Department, to the project or security being offered as collateral for a loan. (32) "Small business" has the meaning given in ORS 470.050. (33) "Small Scale Local Energy Loan Program Technical Requirements" means the specific technical requirements of the Department for certain projects. An application will be subject to the Technical Requirements in effect on the date the Department receives a complete application. (34) "Usable life" of a project means the number of years that a project can likely function without major repair or replacement. (35) "Waste heat" means produced but unused heat that can be applied to an energy need.