Oregon Statutes 285A.690 – Powers to enforce loan agreement
Current as of: 2023 | Check for updates
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(1) The Oregon Business Development Department may institute proceedings to foreclose any lien for delinquent loan payments.
Terms Used In Oregon Statutes 285A.690
- Contract: A legal written agreement that becomes binding when signed.
- Lien: A claim against real or personal property in satisfaction of a debt.
(2) If a port district fails to comply with a contract entered into pursuant to ORS § 285A.681, the department may seek appropriate legal remedies to secure the loan, and may contract with any port project developer for continuation of the project and for repayment of moneys from the Oregon Port Revolving Fund used therefor and interest thereon.
(3) The department may also provide by contract or otherwise for a project until the project is assumed by the new port project developer. [Formerly 285.893; 2001 c.883 § 15; 2009 c.830 § 44]