Oregon Statutes 465.290 – Financial assistance agreement not General Fund obligation; cost estimates; security; recovery of costs; compromise of obligations
(1) The obligation of the Department of Environmental Quality to provide financial assistance or to advance money under a financial assistance agreement made under ORS § 465.285 shall not constitute an obligation against the General Fund or any other state fund except against the Hazardous Substance Remedial Action Fund to the extent moneys in the Hazardous Substance Remedial Action Fund are expressly designated by the department for such financial assistance purposes.
Terms Used In Oregon Statutes 465.290
- Any other state: includes any state and the District of Columbia. See Oregon Statutes 174.100
- Guarantor: A party who agrees to be responsible for the payment of another party's debts should that party default. Source: OCC
- Lien: A claim against real or personal property in satisfaction of a debt.
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
(2) The department may provide a remedial action cost estimate for use by the department, a lender or a guarantor in determining the amount of financial assistance, evaluating the creditworthiness of a borrower, providing loan guarantees or as the department considers appropriate.
(3) When financial assistance is provided to a local governmental unit, the agreement may be secured as the department requires for adequate security.
(4) The department may take any action under ORS § 465.260, 465.330 or 465.335 or other applicable authority to recover costs incurred or moneys advanced under a financial assistance agreement. Costs incurred or money advanced under a financial assistance agreement entered into under ORS § 465.285 shall be remedial action costs. At the department’s discretion, the department may file a claim of lien for such remedial action costs in accordance with the procedures set forth in ORS § 465.335 (1), (2)(a) to (c), (3) and (4).
(5) The department may settle, compromise or release all or part of any obligation arising under a financial assistance agreement so long as the department’s action is consistent with the purposes of ORS § 465.265 to 465.310. [1989 c.833 § 107]