Section 289.005 – Definitions for ORS chapter 289.
(1) As used in this chapter, unless the context requires otherwise: (a) “Authority” means the Oregon Facilities Authority created by this chapter. (b) “Bonds” or “revenue bonds” means revenue bonds, as defined in ORS 286A.001. (c) “Cost” means the cost of: (A) Construction, acquisition, alteration, enlargement, reconstruction and remodeling of a project, including all lands, […]
Section 289.010 – Findings; purpose.
(1) The Legislative Assembly finds that by use of the powers and procedures described in this chapter for the assembling and financing of lands for housing, educational, cultural or other nonprofit uses and for the construction and financing of facilities for those uses, financed through the issuance of revenue bonds secured solely by the properties […]
Section 287A.140 – Ad valorem tax levy to pay general obligation bonds.
(1) In addition to other taxes imposed, a public body shall levy annually an ad valorem property tax on the taxable property within the boundaries of the public body in an amount that is sufficient, when added to other amounts available, to pay the principal of and interest on outstanding general obligation bonds issued by […]
Section 287A.365 – Advance refunding bonds and forward current refunding.
(1) The Legislative Assembly declares that the issuance of advance refunding bonds and the authority to effect a forward current refunding are matters of general statewide concern, and ORS 287A.360 to 287A.380 preempt all local statutory or charter authority to issue advance refunding bonds or to effect a forward current refunding. (2) A public body […]
Section 287A.145 – Misspent proceeds of general obligation bonds.
(1) If a court of competent jurisdiction determines that the proceeds of an issue of general obligation bonds have been used by a public body for expenditures that are not capital costs permitted by Article XI, section 11L, of the Oregon Constitution, or that are not costs of capital construction or capital improvements permitted by […]
Section 287A.150 – Authority of public body to issue revenue bonds.
(1) In addition to any other authority to issue revenue bonds, a public body may authorize revenue bonds by resolution or nonemergency ordinance pursuant to this section for a public purpose. (2) If revenue bonds are authorized by nonemergency ordinance, a public body may not sell the revenue bonds pursuant to this section until the […]
Section 287A.180 – Short-term borrowing by public body.
(1) In addition to any other authority to issue revenue bonds, but subject to applicable limitations imposed by the Oregon Constitution or the charter or ordinance of the public body, a public body may issue revenue bonds pursuant to this section: (a) In anticipation of tax revenues or other moneys; (b) To provide interim financing […]
Section 287A.195 – Compliance with constitutional or statutory debt limits.
(1) When calculating compliance with a constitutional or statutory debt limit for a public body: (a) The amount of interest to be paid on bonds, whether paid currently or deferred, is not taken into account. (b) For a zero coupon bond or other original discount bond on which periodic interest payments are not made, only […]
Section 287A.300 – Terms and conditions of bond sales; delegation of authority.
(1) Notwithstanding a local charter or statutory limitation, when a public body is authorized by law to issue bonds, the public body may: (a) Combine bonds authorized by different laws or actions of the governing body into a single issue and use a single disclosure document if the bonds in the issue will have the […]
Section 287A.310 – Definitions for ORS 287A.310 and 287A.315; lien of a pledge; Uniform Commercial Code.
(1) As used in this section and ORS 287A.315: (a) “Obligation” means: (A) A bond; (B) The commitment of a public body in connection with a credit enhancement device; or (C) An agreement for exchange of interest rates. (b) “Property” means: (A) Real or personal property, tangible or intangible, whether owned when a pledge is […]