OAR 340-054-0005: Purpose

(1) The rules in this division establish procedures and requirements for funding projects and activities that enhance, protect or restore water quality through the Water Pollution Control Revolving Fund, called the Clean Water State Revolving Fund. (2) This division: (a) Describes the means for a public agency to obtain financing for a project that enhances, protects or restores water quality. (b) Describes the means for a qualified institution to obtain financing to finance projects to (i) repair or replace failing on-site septic systems or (ii) replace failing on-site septic systems with connections to an available sewer. (c) Ensures the loan application and funding processes, procedures and requirements are clear. (d) Promotes loan affordability by offering below-market interest rates. (e) Ensures CWSRF’s perpetuity for project funding reliability to provide loans for future projects that enhance, protect or restore water quality.