Section 289.215 – Validity of bonds not affected by other matters regarding project.
The validity of bonds issued under this chapter is not dependent on or affected by the validity or regularity of any proceeding relating to the acquisition, purchase, construction, reconstruction, installation, improvement, betterment, extension, management, operation or funding of the project for which the bonds are issued. The official action authorizing such bonds may provide that […]
Section 289.220 – Covenants regarding bond issuance.
The official action authorizing the issuance of bonds under this chapter to finance or refinance, in whole or in part, the acquisition, purchase, construction, reconstruction, installation, improvement, betterment, extension, management, operation or funding of a project may contain covenants that limit the exercises of powers conferred by this chapter in the following respects and in […]
Section 289.225 – Sources of bond repayment restricted; recitations in bonds.
(1) Revenue bonds issued under this chapter shall not: (a) Be payable from nor charged upon any funds other than the revenue pledged to the payment thereof, nor shall the state be subject to any liability thereon. No holder or holders of such bonds shall ever have the right to compel any exercise of the […]
Section 289.230 – Actions by bondholders to enforce rights.
Subject to any contractual limitation binding upon the holders of any issue of revenue bonds, or a trustee therefor, including but not limited to the restriction of the exercise of any remedy to a specified proportion or percentage of such holders, any holder of bonds, or any trustee therefor, for the equal benefit and protection […]
Section 289.235 – Loan of bond proceeds for projects; state not required to have ownership or leasehold interest.
The state, acting through the State Treasurer and the Oregon Facilities Authority, or either of them, may lend the proceeds of the bonds authorized by this chapter for eligible projects without the necessity of the state having any ownership or leasehold interest in the eligible projects. Loans made pursuant to this section shall be secured […]
Section 289.240 – Report of bonding activities; rules.
(1) Within 90 days following the closing of each fiscal year, the Oregon Facilities Authority shall report on its operations to the Governor, State Treasurer and the Legislative Assembly. The report shall include a summary of the authority’s activities relating to bonds issued under this section. (2) In accordance with any applicable provision of ORS […]
Section 289.250 – Limitation on income tax exemption for interest on revenue bonds.
(1) As used in this section, “within the State of Oregon” has the meaning given the term “within this state” in ORS 289.005. (2) Interest on revenue bonds issued by the State Treasurer under the authority of this chapter is exempt from personal income tax under ORS chapter 316 only to the extent that the […]
Section 289.125 – Rules; fees.
(1) The Oregon Facilities Authority shall adopt by rule standards by which to determine the eligibility of projects for bond financing pursuant to this chapter. In determining the standards, the authority shall consider all relevant data. The standards of the authority must provide that projects are approved in accordance with criteria reflecting the benefits to […]
Section 289.130 – Oregon Facilities Authority Account.
The Oregon Facilities Authority Account is created separate and distinct from the General Fund. The account is an investment account for purposes of ORS 293.701 to 293.857. Interest on the account shall be credited to and deposited in the account. The account is continuously appropriated to the Oregon Facilities Authority and may be used to […]
Section 289.200 – Issuance of revenue bonds; role of State Treasurer; role of Oregon Facilities Authority; fees.
(1) If the State Treasurer determines that revenue bonds should be issued: (a) The State Treasurer may authorize and issue in the name of the State of Oregon revenue bonds secured by revenues from eligible projects to finance or refinance in whole or part the cost of acquisition, purchase, construction, reconstruction, installations improvement, betterment, extension, […]