Section 287A.472 – Interest on municipal warrants not paid on presentation.
All warrants for payment of money issued by cities and other municipalities that are not paid upon presentation and so indorsed shall draw interest at the legal rate after such indorsements but municipalities may by proper resolution fix the rate at less than the legal rate and may make such interest payable semiannually. [Formerly 287.452]
Section 289.120 – Limitation on manner of operating project and expenditure of funds.
Except as provided in ORS 289.115 (2), the state shall not have power to operate any eligible project as a business or in any manner whatsoever. Nothing in this chapter authorizes the state to expend any funds on any eligible project, other than the revenues of such projects, or the proceeds of revenue bonds issued […]
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 […]
Section 287A.315 – Pledge of full faith and credit and taxing power.
(1) A public body may pledge its full faith and credit and taxing power when the public body issues: (a) A general obligation bond; or (b) An obligation that is secured by all lawfully available funds of the public body. (2) When a public body pledges its full faith and credit and taxing power to […]
Section 287A.325 – Covenants of public bodies regarding pledges.
(1) The Legislative Assembly finds that: (a) It is a matter of statewide concern that certain covenants made by public bodies regarding a pledge of revenues to secure bonds not be impaired by subsequent initiative or referendum measures. (b) The covenants described in paragraph (a) of this subsection usually are in the form of a […]
Section 287A.335 – Agreements for exchange of interest rates; rules.
(1) As used in this section, “counterparty” means an entity with whom a public body enters into an agreement for exchange of interest rates. (2) Upon a finding by a public body that an agreement for exchange of interest rates benefits the public body, the public body may enter into the agreement for exchange of […]
Section 287A.339 – Termination payment of conduit borrower.
When a public body is authorized by law to issue bonds, the public body may lend moneys derived from an issuance and sale of bonds to a conduit borrower of proceeds from outstanding, previously issued conduit revenue bonds for the purpose of paying a termination payment required to be paid by the borrower under an […]
Section 287A.340 – Credit enhancement devices.
(1) A public body may obtain a credit enhancement device and enter into related agreements. (2) The public body may pay the provider of the credit enhancement device from the same sources that the public body may lawfully use to pay the related bonds or from any other legally available source. (3) The public body […]
Section 287A.343 – Public body purchase of own bonds.
(1) Notwithstanding any limitation in a local charter, a public body may bid for, purchase, hold, cause to be held in trust and remarket bonds issued by the public body. (2) Except as otherwise provided in the operative documents, the purchase or acquisition of bonds under this section does not cancel or extinguish the bonds […]