Standards for eligibility for loans for fire safety systems
(1) The governing body of a city or district shall adopt standards to determine the eligibility of borrowers to borrow money from the loan fund established under ORS 478.855 (Loan fund created from bond proceeds) for the purpose of acquiring and installing a fire safety system in a privately owned structure owned by the borrower.
(2) The governing body of a city or district shall also adopt a list of fire safety systems that may be financed with loans made under ORS 478.845 (Revenue bonds authorized for fire safety systems) to 478.875 (Remedies for breach of loan contract). [1995 c.725 §3]
Note: See note under 478.840 (Definitions for ORS 478.845 to 478.875).
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