(2) The department shall make a cash flow projection to determine if assumptions at the interest rate established under subsection (1) of this section are among the causes of a negative cash flow projection for the loan program. The cash flow projection required by this section shall be an estimate of the revenue received from the repayment of loans, interest earnings, administrative expenses of the loan program, payment of interest and principal on outstanding debt and other relevant factors during the period in which current outstanding bonds are required to be retired.
(3) If the cash flow projection required under subsection (2) of this section indicates that assumptions of loans at the interest rate established under subsection (1) of this section are a cause of a negative cash flow projection for the loan program, the department, by rule and notwithstanding ORS 407.325 (3), shall increase the interest rate to be paid for loans assumed under ORS 407.305 to the lowest rate per annum that assures a positive cash flow projection, but not exceeding the rate then prescribed under ORS 407.325. [1982 s.s.1 c.11 §15; 1987 c.221 §5; 1987 c.564 §1; 2005 c.625 §35; 2019 c.223 §22]
Structure 2021 Oregon Revised Statutes
Volume : 10 - Highways, Military
Section 407.075 - Purpose; legislative intent.
Section 407.085 - Definitions.
Section 407.087 - Definition of "veteran."
Section 407.095 - Policy against foreclosure; rules.
Section 407.145 - Purchase and control of property; disbursements to protect security.
Section 407.169 - Escrow accounts; standards; interest; rules.
Section 407.195 - Loans not being amortized; identification; notice to borrowers.
Section 407.201 - Required disclosure of credit information and loan terms.
Section 407.205 - Application for loan; amount of loan; limit on number of loans.
Section 407.225 - Processing of loan application; security.
Section 407.275 - Terms of loan to veteran and transferee.
Section 407.285 - Rate of interest payable by certain transferees.
Section 407.325 - Rate of interest on loans; rules.
Section 407.327 - Department to prescribe fixed or variable interest rates.
Section 407.335 - Rate of interest payable by transferee; limit on transfers; rules.
Section 407.465 - Loan cancellation life insurance.
Section 407.480 - Definitions for ORS 407.480 to 407.490.
Section 407.485 - Agreements for mortgage insurance; terms; amount; required coverage.
Section 407.495 - Oregon War Veterans’ Fund; sources; uses.
Section 407.505 - Loan moneys to be reserved for borrower prior to loan commitment.
Section 407.515 - Oregon War Veterans’ Bond Sinking Account; sources; use.