As used in ORS 196.200 to 196.240 and 196.993, “Willamette Falls Locks project” means: (1) The project for navigation, Willamette Falls Locks, Willamette River, Oregon, authorized by the Act of June 25, 1910 (61 P.L. 264, 36 Stat. 630, 664, chapter 382); (2) Any land in which the federal government had a property interest for […]
(1) The Willamette Falls Locks Authority is established as a public corporation and shall exercise and carry out all powers, rights and privileges that are expressly conferred upon the authority, are implied by law or are incident to such powers, rights and privileges. The authority is an independent public corporation with a statewide mission and […]
(1) The Willamette Falls Locks Authority shall consist of no fewer than seven and no more than 11 individuals appointed by the Governor. An authority member holds office for a term of four years but may be removed at any time at the pleasure of the Governor. Members are eligible for reappointment. Prior to the […]
(1) The Willamette Falls Locks Authority shall appoint an executive director. The executive director is the executive officer of the authority responsible for day-to-day operations. Subject to the supervision of the authority, the executive director is authorized to direct the affairs of the authority. The executive director serves at the discretion of the authority and […]
(1) Except as may otherwise be provided by law, the Willamette Falls Locks Authority may, within or outside the state: (a) Adopt, alter, amend or repeal policies, procedures or bylaws for the organization, administration, development and management of the authority. (b) Enter into contracts and agreements involving property, goods or services with any public or […]
(1) Pursuant to ORS 196.220, the Willamette Falls Locks Authority may create and maintain an entity that is exempt from federal income tax under section 501(c)(3) of the Internal Revenue Code, as amended, for the purpose of advancing the mission of the authority. (2) Any entity created by the authority under subsection (1) of this […]
(1) The Willamette Falls Locks Authority may from time to time issue and sell revenue bonds in accordance with ORS chapter 287A, except that ORS 287A.150 (2) to (6) do not apply to revenue bonds issued by the authority. Revenue bonds issued by the authority are not to any extent a general obligation of the […]
(1) As used in this section: (a) “Credit enhancement agreement” means any agreement or contractual relationship between the Willamette Falls Locks Authority and any bank, trust company, insurance company, surety bonding company, pension fund or other financial institution providing additional credit on or security for a financing agreement or certificates of participation. (b) “Financing agreement” […]
(1) The Willamette Falls Locks Authority shall submit to periodic audits by the Secretary of State. The authority shall, no less than annually, retain a public accounting firm to examine and attest to the financial operations of the authority. The authority shall include the results of any public accounting in the annual report submitted to […]
