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The Small Scale Energy Loan Program​ (SELP) offers fixed-rate long-term loans for qualified energy projects.
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25 Jan 2017Temporary Rule for SELP Bond Refunding

Rule Caption: Amending SELP program to allow greater sharing of bond refunding savings with borrowers.

The Oregon Department of Energy’s Small Scale Energy Loan Program (SELP) has an opportunity to achieve significant savings by refunding selected outstanding bonds. 

Under the current rule, savings achieved from a refunding transaction must be divided evenly between ODOE and the borrower. The rule did not contemplate current circumstances under which the borrower would be asked to make concessions and take actions that would not be required absent the transaction. ODOE is asking borrowers to execute tax documents and make certain financial concessions. The temporary rule amendment would allow ODOE to share the bond refunding savings in excess of one-half with a borrower, if ODOE determined that circumstances exist under which sharing bond refunding savings in excess of one-half with a borrower was appropriate. 

ODOE plans to begin permanent rulemaking to address this rule within the coming months.

Documents

Temporary Rule (effective Jan. 25, 2017)

Temporary Rule Filing Forms​

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Resources
SELP Information


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For more information or to provide comments, contact:

Elizabeth Ross
Rulemaking Coordinator
503-378-8534​

John Hobbs
SELP Program Coordinator
503-378-5048

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disability icons To request an interpreter for the hearing impaired or accommodations for persons with disabilities, please contact the Oregon Department of Energy at least 72 hours before the meeting at
1-800-221-8035 or fax 503-373-7806. TTY users should call the Oregon Relay Service at 711.​​​​​
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