OAR 690-095-0030: Authority of Director

(1) Loans over three million dollars that meet the statutory requirements of ORS 541.600 through 541.855 and these rules may only be approved by the commission. (2) The director is authorized by the commission to approve loans under three million dollars that meet the statutory requirements of ORS 541.600 through 541.855 and these rules; approve, deny, amend, or set conditions of loans; establish loan interest rates; execute bond and loan documents; and sign all loan documents. (3) The director shall: (a) Give a periodic written report on all loan activity to the commission; (b) Assess each project in consultation with the State Department of Fish and Wildlife, the State Parks and Recreation Department, the Department of Environmental Quality and affected tribal governments, and notify other interested parties who may be consulted, as deemed appropriate. If a project may affect agricultural use, the department shall also assess the project in consultation with the State Department of Agriculture; and (c) Take such steps as are needed to recover loan funds and prevent their misuse, or to prevent loan funds from being diverted from the originally approved purpose.