(1) The Energy Project Supplemental Fund is established in the State Treasury, separate and distinct from the General Fund. Interest earned by the Energy Project Supplemental Fund shall be credited to the Energy Project Supplemental Fund.

Terms Used In Oregon Statutes 470.570

  • Director: means the Director of the State Department of Energy appointed under ORS § 469. See Oregon Statutes 470.050
  • Energy efficiency and sustainable technology loan: means a loan for a small scale local energy project that is repayable by means of:

    (a) A charge included with the participant's utility customer account billing; or

    (b) An alternative repayment method identified by the department and the borrower and specified in the loan agreement. See Oregon Statutes 470.050

  • Energy Project Bond Loan Fund: means the fund established under ORS § 470. See Oregon Statutes 470.050
  • Energy Project Supplemental Fund: means the fund established under ORS § 470. See Oregon Statutes 470.050
  • Energy Revenue Bond Repayment Fund: means the fund established under ORS § 470. See Oregon Statutes 470.050
  • Loan: includes the purchase or other acquisition of evidence of indebtedness and money used for the purchase or other acquisition of evidence of indebtedness. See Oregon Statutes 470.050
  • 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.
  • Small scale local energy program loan: means a loan for a small scale local energy project other than an energy efficiency and sustainable technology loan. See Oregon Statutes 470.050
  • Small scale local energy project: means any of the following:

    (a) A system, mechanism or series of mechanisms located primarily in Oregon that directly or indirectly uses or enables the use of, by the applicant or another person, renewable resources including, but not limited to, solar, wind, geothermal, biomass, waste heat or water resources to produce energy, including heat, electricity and substitute fuels, to meet a local community or regional energy need in this state. See Oregon Statutes 470.050

  • Small Scale Local Energy Project Administration and Bond Sinking Fund: means the fund created under ORS § 470. See Oregon Statutes 470.050
  • Small Scale Local Energy Project Loan Fund: means the loan fund created by Article XI-J of the Oregon Constitution and appropriated to the State Department of Energy under ORS § 470. See Oregon Statutes 470.050
  • State Treasury: includes those financial assets the lawful custody of which are vested in the State Treasurer and the office of the State Treasurer relating to the custody of those financial assets. See Oregon Statutes 174.100

(2) The Energy Project Supplemental Fund shall consist of any moneys received for purposes of the energy efficiency and sustainable technology loan program or for small scale local energy program loans other than moneys deposited to:

(a) The Small Scale Local Energy Project Loan Fund.

(b) The Small Scale Local Energy Project Administration and Bond Sinking Fund.

(c) The Energy Project Bond Loan Fund.

(d) The Jobs, Energy and Schools Fund, except that Jobs, Energy and Schools Fund moneys used to offset the energy efficiency and sustainable technology loan or small scale local energy program loan repayment obligation of a borrower shall be deposited to the Energy Project Supplemental Fund.

(e) The Energy Revenue Bond Repayment Fund.

(3) Moneys in the Energy Project Supplemental Fund are continuously appropriated to the State Department of Energy for the following purposes:

(a) To provide funding, separately or in conjunction with moneys from the Small Scale Local Energy Project Loan Fund and the Energy Project Bond Loan Fund, for energy efficiency and sustainable technology loans and small scale local energy program loans;

(b) For transfer to the Energy Revenue Bond Repayment Fund, to the extent that moneys available in the Energy Project Bond Loan Fund are insufficient to provide the amount determined prudent by the Director of the State Department of Energy under ORS § 470.610 (2); and

(c) To pay costs incurred by the State Department of Energy or the director in implementing or administering loan programs for small scale local energy projects.

(4) The State Treasurer may establish any subaccounts in the Energy Project Supplemental Fund that the treasurer or the director considers reasonable for the efficient administration of the fund. [2009 c.753 § 15; 2011 c.467 § 12]

 

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