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Oregon Economic Development Revenue Bonds


Published: 2015

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OREGON BUSINESS DEVELOPMENT DEPARTMENT

 






DIVISION 11
OREGON ECONOMIC DEVELOPMENT REVENUE BONDS





123-011-0020
Purpose
The purpose of these rules is to provide procedures, standards and criteria for operation of the Oregon Economic Development Revenue Bond program authorized by ORS 285B.320 to 285B.371.
Stat. Auth.: ORS 285A.075

Stats. Implemented: ORS 285B.320 - 285B.371

Hist.: EDD 8-1984(Temp), f. 12-31-84, ef. 1-1-85; EDD 3-1985, f. & ef. 6-28-85; EDD 4-1988, f. & cert. ef. 2-10-88; EDD 6-1988(Temp), f. & cert. ef. 2-29-88; EDD 9-1988 (Temp), f. & cert. ef. 3-18-88; EDD 15-1988, f. & cert. ef. 5-24-88; EDD 36-1988, f. & cert. ef. 12-15-88; EDD 2-1999(Temp), f. & cert. ef. 3-18-99 thru 9-14-99; EDD 10-1999, f. & cert. ef. 10-11-99; EDD 4-2005, f. & cert. ef. 5-5-05
123-011-0021
Commission Powers
For the purposes of these rules,
the Business Development Commission (the “Commission”) shall retain
and possess, in addition to all authority reserved to it under OAR 123-011-0027,
all rights and powers delegated to the Finance Committee. Upon written notice to
the Finance Committee, the Commission may elect to exercise directly, either in
a specific instance or generally, any right or power delegated to the Finance Committee
under these rules and the Finance Committee shall not have the authority to exercise
the right or power identified in the notice under the circumstances described in
the notice.
Stat. Auth.: ORS 285A.075

Stats. Implemented: ORS 285B.320
- 285B.371

Hist.: EDD 36-1988, f. &
cert. ef. 12-15-88; EDD 2-1999(Temp), f. & cert. ef. 3-18-99 thru 9-14-99; EDD
10-1999, f. & cert. ef. 10-11-99; EDD 4-2005, f. & cert. ef. 5-5-05; OBDD
11-2010, f. 4-30-10, cert. ef. 5-1-10; OBDD 5-2012, f. & cert. ef. 6-1-12
123-011-0025
Definitions
For the purposes of these rules,
the following terms shall have the following meaning, unless the context clearly
indicates otherwise:
(1) "Applicant" means any person,
firm or public or private corporation or federal or state governmental subdivision
or agency which submits an application for Oregon Economic Development Revenue Bonds.
(2) "Bonds" means Oregon Economic
Development Revenue Bonds issued by the State of Oregon under ORS 285B.320 to 285B.371.
(3) “Capital Asset”
means real or personal property that the Commission expects to be:
(a) Used in connection with
a revenue-producing enterprise, an exempt, or a non-profit entity; and
(b) Located in Oregon.
(4) “Economic Development
Project” means a Capital Asset and may also include one or more the following:
(a) Research and development
conducted in Oregon; or
(b) Estimated operating expenses
associated with a Capital Asset.
(5) “Eligible Project”
means the portion of an Economic Development Project that the Commission:
(a) Has found in compliance
with applicable standards of the Commission;
(b) Has found will produce benefits
substantially in Oregon; and
(c) Has approved for financing
with proceeds of Bonds authorized under ORS 285B.320 to 285B.371.
(6) “Exempt Facility”
means any facility described in section 142(a) of the Internal Revenue Code of 1986,
as amended and in effect as of July 1, 2011.
(7) "Finance Committee" means
the Finance Committee for the Business Development Commission as allowed in ORS
285A.060.
(8) "Financial Institution"
means any commercial bank, mutual savings bank, savings and loan association, insurance
company, investment bank or NASD securities underwriter licensed or authorized to
do business in the State of Oregon.
(9) "In-state Plant Relocation"
means the relocation of an Applicant's plant from one labor market area, as defined
by the Oregon Employment Department, in Oregon to a different labor market area
in Oregon.
(10) “Nonprofit Entity”
means and institution, organization, or other entity exempt from taxation under
section 501(c)(3) of the Internal Revenue Code of 1986, as amended and in effect
as of July 1, 2011.
(11) "Oregon Express Bond Program"
means a department program that involves a method of sale for a single client purchase
that includes, but is not limited to, direct placement of bonds with a bank. Such
a purchase does not require the use of placement agents, underwriters, marketing
agents or letters of credit. To utilize this program, use of a standardized departmental
bond process is required.
(12) "Treasurer" means the Treasurer
of the State of Oregon or the Treasurer's designee.
Stat. Auth.: ORS 285A.075

Stats. Implemented: ORS 285B.320
- 285B.371

Hist.: EDD 8-1984(Temp), f.
12-31-84, ef. 1-1-85; EDD 3-1985, f. & ef. 6-28-85; EDD 4-1988, f. & cert.
ef. 2-10-88; EDD 6-1988(Temp), f. & cert. ef. 2-29-88; EDD 9-1988 (Temp), f.
& cert. ef. 3-18-88; EDD 15-1988, f. & cert. ef. 5-24-88; EDD 36-1988, f.
& cert. ef. 12-15-88; EDD 14-1994(Temp), f. & cert. ef. 11-10-94; EDD 4-1995,
f. 4-28-95, cert. ef. 5-3-95; EDD 2-1999(Temp), f. & cert. ef. 3-18-99 thru
9-14-99; EDD 10-1999, f. & cert. ef. 10-11-99; EDD 4-2005, f. & cert. ef.
5-5-05; EDD 20-2008, f. 7-31-08, cert. ef. 8-1-08; OBDD 11-2010, f. 4-30-10, cert.
ef. 5-1-10; OBDD 5-2012, f. & cert. ef. 6-1-12
123-011-0027
Delegation
(1) Authority for the day-to-day
operation of the Economic Development Revenue Bond Program, including determination
of eligibility, authorization of the issuance of bonds, adoption of inducement and
bond resolutions and amendments thereto, is delegated to the Finance Committee.
(2) The Finance Committee may
adopt standards and procedures for the operation of the bond program. Such standards
and procedures shall not be inconsistent with any part of this division.
(3) The Department may send
to each member of the Commission a summary of each project to be considered by the
Finance Committee. If so, Commissioners shall receive such summaries in sufficient
time to comment on the projects and to attend each Finance Committee meeting, as
each individual commissioner may in his or her sole discretion determine.
(4) The Commission shall review
and evaluate the operation of the bond program as it may from time to time determine
and may order any changes that it considers necessary or desirable.
(5) The Commission shall retain
final authority over policies and administrative procedures governing the operation
of the bond program.
(6) If at any time the Commission
decides to take any action or make any decision, it may do so at any regular or
special meeting or through any telephone
conference call as the Commission in its sole discretion may determine.
Stat. Auth.: ORS 285A.075

Stats. Implemented: ORS 285B.320
- 285B.371

Hist.: EDD 9-1988(Temp), f.
& cert. ef. 3-18-88; EDD 36-1988, f. & cert. ef. 12-15-88; EDD 2-1999(Temp),
f. & cert. ef. 3-18-99 thru 9-14-99; EDD 10-1999, f. & cert. ef. 10-11-99;
EDD 4-2005, f. & cert. ef. 5-5-05; EDD 20-2008, f. 7-31-08, cert. ef. 8-1-08;
OBDD 11-2010, f. 4-30-10, cert. ef. 5-1-10; OBDD 5-2012, f. & cert. ef. 6-1-12
123-011-0030
Application
(1) An Applicant desiring issuance
of Economic Development Revenue Bonds must submit a complete application to the
Department in a form approved by the Department.
(2) The application shall be
received by the Department at least 21 days prior to the Finance Committee meeting
at which the application will be considered. The Department may waive this requirement
at its sole discretion.
(3) A non-refundable application
fee is to be submitted with the Application: The application fee is a non-refundable
application fee of $500 and shall be paid by an Applicant seeking Economic Development
Revenue Bond financing.
(4) Application materials may
be obtained from the Oregon Business Development Department, 775 Summer Street N.E.,
Suite 200 Salem, OR 97301-1280.
Stat. Auth.: ORS 285A.075

Stats. Implemented: ORS 285B.320
- 285B.371

Hist.: EDD 8-1984(Temp), f.
12-31-84, ef. 1-1-85; EDD 3-1985, f. & ef. 6-28-85; EDD 4-1988, f. & cert.
ef. 2-10-88; EDD 6-1988(Temp), f. & cert. ef. 2-29-88; EDD 9-1988 (Temp), f.
& cert. ef. 3-18-88; EDD 15-1988, f. & cert. ef. 5-24-88; EDD 36-1988, f.
& cert. ef. 12-15-88; EDD 13-1990, f. & cert. ef. 6-7-90; EDD 2-1999(Temp),
f. & cert. ef. 3-18-99 thru 9-14-99; EDD 10-1999, f. & cert. ef. 10-11-99;
EDD 4-2005, f. & cert. ef. 5-5-05; EDD 9-2007(Temp), f. & cert. ef. 9-4-07
thru 2-29-08; EDD 9-2008(Temp), f. & cert. ef. 3-4-08 thru 8-1-08; EDD 20-2008,
f. 7-31-08, cert. ef. 8-1-08; OBDD 11-2010, f. 4-30-10, cert. ef. 5-1-10; OBDD 5-2012,
f. & cert. ef. 6-1-12
123-011-0035
Determination of Eligibility
(1) The Department shall review
the application.
(2) The Department shall make
a recommendation to the Finance Committee to either approve or deny the application
for eligibility for Economic Development Revenue Bonds. The review of the application
will be based upon the standards set forth in this rule:
(a) The following Economic Development
Projects are eligible for Economic Development Revenue Bonds, unless otherwise prohibited
under this section:
(A) Manufacturing or other industrial
production;
(B) Agricultural development
or food processing;
(C) Aquaculture development
or seafood processing;
(D) Development or improved
utilization of natural resources;
(E) Research and development;
(F) Destination facilities other
than retail or food service businesses;
(G) Convention and trade centers;
(H) Construction of buildings
for corporate headquarters;
(I) Product distribution facilities;
(J) Transportation or freight
facilities;
(K) Scientific testing including,
but not limited to, medical, clinical or engineering testing services;
(L) Sports facilities not otherwise
prohibited under paragraph (2)(b)(D) of this rule;
(M) Nonprofit entities organized
under Section 501(c)(3) of the U.S. Internal Revenue Code ;
(N) Utilities, as allowed by
ORS 285B.323(2);
(O) Management of waste;
(P) Other activities which represent
a new technology or type of economic enterprise that the Finance Committee determines
are needed to diversify the economic base of an area, or any other activities allowed
by Federal law.
(b) Activities or projects that
will not be considered for the issuance of Oregon Economic Development Revenue Bonds
include:
(A) Retail businesses and shopping
centers;
(B) Food service not part of
a convention center or destination resort;
(C) Professional corporations
for medicine, law, dentistry, or finance;
(D) Athletic, racquetball, handball
clubs, amusement parks, or similar endeavors;
(E) Commercial office buildings
except for corporate headquarters, unless the office building supports the eligible
economic activities listed in (2)(a) of this section;
(F) Activities that maintain
private memberships; are not open to the general public; or do not serve a broad
cross section of the general public;
(c) The following serve as an
elaboration and clarification of activities which qualify as Eligible Projects for
Economic Development Revenue Bonds:
(A) "Destination Facility" means
a project which has a significant impact on the regional tourism economy and has
the capacity to be marketed to national or international markets. Incidental food
service facilities may be included. Sleeping accommodations without unique attraction
capabilities are not eligible;
(B) "Convention and Trade Centers"
may include sleeping accommodations, but the majority of the total bond issue must
be used for convention meeting facilities. Such facilities must have the capacity
to seat a minimum of 300 people. However, the Finance Committee may approve financing
for projects, as convention centers, consisting solely or primarily of sleeping
accommodations, if the Applicant sufficiently demonstrates existing sleeping accommodations
are inadequate for existing meeting facility space;
(C) "Corporate Headquarters"
may qualify if a minimum of 75 percent of the floor space is allocated to the corporate
headquarter function. Corporate headquarters do not include professional corporations
for medicine, law, dentistry, or finance or office space to be leased to others;
(D) "Transportation" is not
intended to include rolling stock or other highly moveable equipment operated by
a carrier for hire;
(E) In deciding whether or not
to approve economic development revenue bonding for a utility project, the Finance
Committee may consider all relevant factors including but not limited to the utility
company's published tariff schedules and construction and extension procedures as
filed with the Oregon Public Utility Commission;
(F) "Pollution Control" equipment
may qualify as part of projects that otherwise qualifies under this rule. Where
pollution control equipment costs are incidental to the total capital investment
of the project, the Finance Committee may qualify such equipment, provided the Oregon
Department of Environmental Quality concurs;
(G) "In-State Plant Relocations"
not accompanied by an expansion of the Applicant's business or employment, may be
considered when the Applicant is able to demonstrate that:
(i) The relocation is caused
by reasons beyond its control; or
(ii) The relocation will not
cause a resulting loss of employment at the former site of the business; or
(iii) The relocation is necessary
for the continued operation of the business.
(H) "Nonprofit entities" do
not include religious or fraternal organizations;
(I) "Developer Project" may
qualify. The Finance Committee shall have right of approval for each tenant occupying
25 percent or more of the leasable space. No more than 25 percent of the leasable
space shall be leased to tenants relocating from another Oregon location, unless
such relocation is accompanied by an expansion of the tenants' labor force. These
conditions shall be incorporated into bond documents, shall survive closing and
shall be enforceable for the term of the bond.
(d)
The following serves as an elaboration and clarification of the qualifications of
an Eligible Project for which Economic Development Revenue Bond proceeds can be
used:
(A) The Applicant shall provide detailed
information on the proposed uses of Bond proceeds for research and development costs.
Research and development costs shall not represent a significant portion of the
total amount of the Bonds, at the discretion of the Finance Committee.
(B) The Applicant shall provide
detailed information on how Bond proceeds will be used for operating expenses.
Operating expenses shall not represent a significant portion of the total amount
of the Bonds, at the discretion of the Finance Committee.
(C) Unless the Finance Committee
determines otherwise, Bond proceeds shall not be used to refinance outstanding financing,
but may be used to reimburse approved Applicants for short-term financing for costs
of Capital Assets.
(D) Unless the Finance Committee
determines otherwise, Bond proceeds may only be used for capitalized interest that
accrued prior to completion of an Eligible Project and that is directly related
to the financing of a Capital Asset.
(e) Public Purpose. The Applicant
must demonstrate that a public purpose is served by the proposed Economic Development
Project through economic diversification, creation of new jobs including construction
activity, construction occurring before it otherwise could or would, economic activity
occurring during economic slumps, tax dollars remaining in the state, increased
productivity, or other public health benefit as determined by the Finance Committee.
The Applicant is encouraged to demonstrate as many public purposes for the proposed
project as can be prudently shown.; The Finance Committee shall consider these public
purposes in determining whether a proposed project will produce benefits substantially
in Oregon, pursuant to OAR 123-011-0025(5)(b).
(f) Prior to determining that
an Economic Development Project is an Eligible Project, the Finance Committee shall:
(A) Determine that the action
is cost effective, considering both major public expenses and major public benefits,
unless the Economic Development Project involves an Exempt Facility;
(B) Find that the project involved
is consistent with the Department's comprehensive policy and programs;
(C) Find that the project will
produce goods or services which are sold in markets for which national or international
competition exists, unless the Economic Development Project involves an Exempt Facility;
(D) Determine that, if the project
is to be constructed and operated by a Non-profit Entity, the project will not compete
significantly with local for-profit businesses;
(E) Determine that the action
is the best use of the moneys involved, considering other pending applications for
those moneys; and
(F) Provide for public notice
of, and public comment on, the action. The public hearing is not a contested case
hearing. Members of the public are invited to present written or oral testimony.
Only Finance Committee members and department staff will ask questions.
(G) Notify a senior official
(such as mayor or city manager) of the city or county (if in unincorporated county
property) in which the project will be located about the project and the potential
use of Economic Development Revenue Bonds.
(g) The Finance Committee may
deny an application if the Applicant does not demonstrate, to the satisfaction of
the Finance Committee, that the project is financially feasible. When bond proceeds
for an Economic Development Project are to be used for research and development
costs or operating expenses, the determination of financial feasibility may include
one or more of the following criterion:
(A) The adequacy of long-term
equity investment in the project;
(B) Collateral value of assets
as supported by appraisals; or
(C) Other valuations or factors
determined to be necessary by the Finance Committee.
(h) The Finance Committee may
deny an application if the Applicant (or any of the principals in the Applicant)
is subject to any existing, pending or threatened litigation or unasserted claim,
unless such litigation or claim is fully disclosed to the Finance Committee and
the arrangements for the settlement thereof are acceptable to the Finance Committee.
In any case where such litigation or claim is unknown to the Finance Committee at
the time project eligibility is granted or if such litigation or claim arises subsequent
to a grant of project eligibility, the Finance Committee may rescind the project
eligibility;
(i) The Finance Committee may
make any reasonable requirement of the Applicant related to the administration of
the Oregon Economic Development Revenue Bond Program, including requirements that
would survive closing and be enforceable for the term of the Bond.
(j) If Bond proceeds for an
Economic Development Project are to be used for research and development costs or
operating expenses, the Finance Committee may require, regardless of the method
of sale, that the proposed Bond issuance receive an investment grade rating from
a nationally recognized rating agency (Moody’s Investors Service, Fitch Ratings
or Stand and Poor’s Corporation) or receive an equivalent rating through the
use of credit enhancement. However, the investment grade rating requirement may
be waived for Applicants who are listed on the New York Stock Exchange (NYSE) or
the National Association of Securities Dealers Exchange (NASDAQ).
(k) If Bond proceeds for an
Economic Development Project are to be used for research and development costs or
operating expenses and research and development costs and operating expenses total
more than 5% of the total amount of the Bonds, the Finance Committee shall approve
the investment bankers, remarketing agents, and other finance team professionals,
in addition to the approvals from Oregon State Treasury.
(l) If Bond proceeds for an
Economic Development Project are to be used for research and development costs or
operating expenses, the Finance Committee may impose requirements on the resale
of the Bonds.
(3) The Finance Committee shall
issue a Resolution for Project Eligibility for each economic development project
determined to be an eligible project. The term of eligibility shall last 12 months
unless extended by the department or the Finance Committee.
(4) Administrative rules in
effect at the time the Finance Committee determines a project to be eligible shall
continue to govern the project until the bonds have been redeemed, not withstanding
any contrary provision in any subsequently adopted administrative rule.
[Publications: Publications
referenced are available from the agency.]
Stat. Auth.: ORS 285A.075

Stats. Implemented: ORS 285B.320
- 285B.371

Hist.: EDD 8-1984(Temp), f.
12-31-84, ef. 1-1-85; EDD 1-1985(Temp), f. & ef. 2-26-85; EDD 3-1985, f. &
ef. 6-28-85; EDD 5-1985(Temp), f. & ef. 10-4-85; EDD 6-1985(Temp), f. &
ef. 10-22-85; EDD 1-1986, f. 1-28-86, ef. 2-1-86; EDD 4-1988, f. & cert. ef.
2-10-88; EDD 6-1988(Temp), f. & cert. ef. 2-29-88; EDD 9-1988(Temp), f. &
cert. ef. 3-18-88; EDD 15-1988, f. & cert. ef. 5-24-88; EDD 36-1988, f. &
cert. ef. 12-15-88; EDD 13-1990, f. & cert. ef. 6-7-90; EDD 14-1994(Temp), f.
& cert. ef. 11-10-94; EDD 4-1995, f. 4-28-95, cert. ef. 5-3-95; EDD 2-1999(Temp),
f. & cert. ef. 3-18-99 thru 9-14-99; EDD 10-1999, f. & cert. ef. 10-11-99;
EDD 4-2005, f. & cert. ef. 5-5-05; EDD 9-2007(Temp), f. & cert. ef. 9-4-07
thru 2-29-08; EDD 9-2008(Temp), f. & cert. ef. 3-4-08 thru 8-1-08; EDD 20-2008,
f. 7-31-08, cert. ef. 8-1-08; OBDD 11-2010, f. 4-30-10, cert. ef. 5-1-10; OBDD 7-2011(Temp),
f. & cert. ef. 12-8-11 thru 6-5-12; OBDD 5-2012, f. & cert. ef. 6-1-12
123-011-0037
Approval of Bond Closing Resolution
Prior to the approval of bond
financing for an eligible project, as evidenced by the Commission’s approval
of a bond closing resolution, the Commission shall:
(1) Determine that the project
satisfies the applicable requirements of OAR chapter 123, division 8 (compliance
with local land use planning requirements), as evidenced by documentation to be
provided by the city or county (if in unincorporated county property) in which the
project is located.
(2) Determine that
the project involved is consistent with applicable adopted local economic development
plans, as evidenced by documentation from the city or county.
Stat. Auth: ORS 285A.075

Stats. Implemented: ORS 285B.320
– 285B.371

Hist: EDD 9-2008(Temp), f. &
cert. ef. 3-4-08 thru 8-1-08; EDD 20-2008, f. 7-31-08, cert. ef. 8-1-08; OBDD 5-2012,
f. & cert. ef. 6-1-12
123-011-0040
Extension
(1) The Department may extend
the eligibility granted by the Finance Committee for up to six months if the Department
determines that the project still constitutes an eligible activity and that there
is a reasonable prospect of the Bonds being issued within the six-month extension
period. The Applicant must provide updated financial information, and a project
status report to the Department, in a form approved by the Department, at least
14 calendar days before eligibility expires. The Department may waive the 14 calendar
day requirement at its sole discretion.
(2) The Finance Committee may
extend eligibility if the Department denies extended eligibility or if the initial
extension granted by the Department under section (1) of this rule has expired.
The Finance Committee must determine that the project still constitutes an eligible
activity, and that there is a reasonable prospect of the Bonds being issued within
the extension period. The Applicant must provide updated financial information and
a project status report, as well as a request for extension, in a form approved
by the Department, at least one month prior to the expiration date of the original
or extended eligibility period. The Finance Committee may waive this time period
at its sole discretion.
Stat. Auth.: ORS 285A.075

Stats. Implemented: ORS 285B.320
- 285B.371

Hist.: EDD 8-1984(Temp), f.
12-31-84, ef. 1-1-85; EDD 3-1985, f. & ef. 6-28-85; EDD 1-1986, f. 1-28-86,
ef. 2-1-86; EDD 4-1988, f. & cert. ef. 2-10-88; EDD 6-1988(Temp), f. & cert.
ef. 2-29-88; EDD 9-1988(Temp), f. & cert. ef. 3-18-88; EDD 15-1988, f. &
cert. ef. 5-24-88; EDD 36-1988, f. & cert. ef. 12-15-88; EDD 10-1999, f. &
cert. ef. 10-11-99; EDD 4-2005, f. & cert. ef. 5-5-05; EDD 9-2007(Temp), f.
& cert. ef. 9-4-07 thru 2-29-08; EDD 9-2008(Temp), f. & cert. ef. 3-4-08
thru 8-1-08; EDD 20-2008, f. 7-31-08, cert. ef. 8-1-08; OBDD 11-2010, f. 4-30-10,
cert. ef. 5-1-10; OBDD 5-2012, f. & cert. ef. 6-1-12
123-011-0045
Fees
In addition to the application
fee specified in OAR 123-011-0030(5):
(1) The Applicant shall pay
to the Department at the time of initial bond closing a closing fee of 1/2 of one
percent of the total Bonds issued for the project.
(2) For the Oregon Express Bond
Program, the Applicant shall pay to the Department at the time of the initial Bond
closing a closing fee of 1/4th of one percent of the total Bond Issuance for the
project.
(3) An Applicant for a current
refunding of an outstanding Bond shall pay to the Department a non-refundable processing
fee of $500 that shall accompany the request for the refunding.
(4) The Applicant shall pay
to the Department a closing fee of 1/10 of one percent of the amount of the refunding
Bond or for any additional Bonds issued under a single project eligibility. This
closing fee may be waived for any refunding Bond issued within 18 months of the
closing date of the Bond issue to be refunded.
(5) The Department may charge
any out-of-pocket expenses, including but not limited to legal expenses, incurred
by the Department for processing any Bond request.
(6) The Commission may collect
the above fees and expense reimbursements from an Applicant that seeks to have an
Economic Development Project declared eligible for financing, even though the project
has not been determined to be eligible for financing.
(7) An Applicant for the restructuring
of existing Bonds shall pay to the Department an non-refundable processing fee of
$1,000 that shall accompany the request for approval of the restructuring.
(8) The Department may charge
the Applicant a closing fee of up to 1/10 of one percent of the amount of the restructured
Bond.
(9) Applicants or beneficiaries
of Bond financing shall pay directly to the Commission’s bond counsel their
legal fees and direct expenses related to issuance, refunding, modifications, or
restructuring of Bonds.
Stat. Auth.: ORS 285A.075

Stats. Implemented: ORS 285B.326

Hist.: EDD 8-1984(Temp), f.
12-31-84, ef. 1-1-85; EDD 3-1985, f. & ef. 6-28-85; EDD 4-1988, f. & cert.
ef. 2-10-88; EDD 6-1988(Temp), f. & cert. ef. 2-29-88; EDD 9-1988 (Temp), f.
& cert. ef. 3-18-88; EDD 15-1988, f. & cert. ef. 5-24-88; EDD 36-1988, f.
& cert. ef. 12-15-88; EDD 15-1994, f. & cert. ef. 11-10-94; EDD 10-1996(Temp),
f. & cert. ef. 12-4-96; EDD 2-1999(Temp), f. & cert. ef. 3-18-99 thru 9-14-99;
EDD 10-1999, f. & cert. ef. 10-11-99; EDD 14-2000(Temp), f. & cert. ef.
12-14-00 thru 6-12-01; Administrative correction 6-14-01; EDD 10-2001(Temp), f.
& cert. ef. 12-13-01 thru 6-1-02; Administrative correction 11-29-02; EDD 4-2005,
f. & cert. ef. 5-5-05; EDD 9-2007(Temp), f. & cert. ef. 9-4-07 thru 2-29-08;
EDD 9-2008(Temp), f. & cert. ef. 3-4-08 thru 8-1-08; EDD 20-2008, f. 7-31-08,
cert. ef. 8-1-08; OBDD 7-2011(Temp), f. & cert. ef. 12-8-11 thru 6-5-12; OBDD
5-2012, f. & cert. ef. 6-1-12
123-011-0050
Confidential Records
(1) Upon written request and
within a reasonable time, the Director or his designee shall provide program records,
for inspection in accordance with ORS Chapter 192.
(2) The person requesting records
will be charged for preparing and mailing such records. Costs may include but not
be limited to costs incurred in locating records, separating exempt and nonexempt
records, having a custodian present during the inspection, preparing lists of data,
making photocopies and telefaxing materials. Fees to be collected shall be set forth
in the Department's schedule of fees and may be amended from time to time as the
Department may determine.
(3) Except as otherwise provided
in ORS 192.410-192.595, records exempt from disclosure include but are not limited
to:
(a) Reports and analyses of
reports which bear on the Applicant's character, finances, management ability and
reliability, and which were obtained in confidence from persons or firms not required
by law to submit them and the Department has obliged itself in good faith not to
disclose the information;
(b) Financial statements, tax
returns, business records, employment history and other personal data submitted
by or for Applicants, or analysis of such data;
(c) Intra-departmental advisory
memoranda preliminary to a decision;
(d) Formulas, plans, designs
and related information that constitute trade secrets under ORS Chapter 192;
(e) Personal financial statement;
(f) Financial statements of
Applicants;
(g) Customer lists;
(h) Information of an Applicant
pertaining to litigation to which the Applicant is a party if the complaint has
been filed, or if the complaint has not been filed, if the Applicant shows that
such litigation is reasonably likely to occur. This exemption does not apply to
concluded litigation and nothing in this section shall limit any right or opportunity
granted by law to a party involved in litigation;
(i) Production, sales or cost
data; and
(j) Marketing strategy information
that relates to an Applicant's plan to address specific markets and Applicant's
strategy regarding specific competitors.
Stat. Auth.: ORS 285A.075(5)
& 285A.110

Stats. Implemented: ORS 285B.320
- 285B.371

Hist.: EDD 8-1984(Temp), f.
12-31-84, ef. 1-1-85; EDD 3-1985, f. & ef. 6-28-85; EDD 4-1988, f. & cert.
ef. 2-10-88; EDD 6-1988(Temp), f. & cert. ef. 2-29-88, EDD 9-1988 (Temp), f.
& cert. ef. 3-18-88; EDD 15-1988, f. & cert. ef. 5-24-88; EDD 36-1988, f.
& cert. ef. 12-15-88; EDD 2-1999(Temp), f. & cert. ef. 3-18-99 thru 9-14-99;
EDD 10-1999, f. & cert. ef. 10-11-99; EDD 4-2005, f. & cert. ef. 5-5-05;
OBDD 5-2012, f. & cert. ef. 6-1-12

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contained in the Administrative Order filed at the Archives Division,
800 Summer St. NE, Salem, Oregon 97310. Any discrepancies with the
published version are satisfied in favor of the Administrative Order.
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