reglab/housing_qa huggingface dataset:
OR Rev Stat § 294.825 (2021)
2021 Oregon Revised Statutes|Volume : 07 - Public Facilities and Finance|Chapter 294 - County and Municipal Financial Administration|Section 294.825 - State Treasurer as investment officer; bond; employment of personnel; rules.

(1) The State Treasurer is the investment officer for the Oregon Investment Council and the investment pool, and shall perform functions in that capacity as authorized or required by law and, consistent with law, by the council. (2) The bond of the State Treasurer required from the State Treasurer by law shall be deemed to extend to the faithful performance of all functions of the office of investment officer under ORS 294.805 to 294.895. (3) The investment officer may: (a) Subject to any applicable provision of the State Personnel Relations Law, employ, prescribe the functions and fix the compensation of personnel necessary to facilitate and assist in carrying out the functions of the council, investment officer and investment pool. (b) Require a fidelity bond of any person employed by the investment officer who has charge of, handles or has access to any of the moneys in the investment pool. The amounts of the bonds shall be fixed by the investment officer, except as otherwise provided by law, and the sureties shall be approved by the investment officer. The premiums on the bonds shall be an expense of the State Treasurer. (4) Subject to review by the board, the investment officer may, pursuant to ORS chapter 183, make reasonable rules necessary for the administration of ORS 294.805 to 294.895. [1973 c.748 §§5,18]
OR Rev Stat § 294.831 (2021)
2021 Oregon Revised Statutes|Volume : 07 - Public Facilities and Finance|Chapter 294 - County and Municipal Financial Administration|Section 294.831 - Investment objective; limit on maturity dates.

(1) The investment officer shall seek to obtain a competitive return on investments of the investment pool subject to the standards set forth in ORS 294.835 and consistent with the liquidity requirements demanded by the short term nature of local government and tribal government deposits in the pool. (2) The investment officer shall at all times hold investments which mature in three years or less, in an amount not less than an amount equal to the aggregate of all funds placed with the investment officer by local governments and tribal governments under ORS 294.805 to 294.895, which investments shall be from the funds defined in ORS 293.701 (2)(o). (3) Notwithstanding subsection (2) of this section, the investment officer may purchase legally issued general obligations of the United States and of the agencies and instrumentalities of the United States if the seller of the obligations agrees to repurchase the obligations within 90 days following the date on which the investment officer makes the investment. The price paid by the investment officer for such obligations may not exceed amounts or percentages prescribed by written policy of the Oregon Investment Council or the Oregon Short Term Fund Board created by ORS 294.885. (4) Investments and commitments of the investment pool which do not conform to the quality or maturity requirements set forth in ORS 294.805 to 294.895 shall be liquidated by the investment officer once the market value of such investments and commitments reaches book value, or as soon as is practicable thereafter. [1979 c.608 §3 (enacted in lieu of 294.830); 1981 c.880 §16; 1987 c.381 §3; 1993 c.18 §61; 1995 c.40 §1; 2009 c.541 §14; 2013 c.338 §5]
OR Rev Stat § 294.835 (2021)
2021 Oregon Revised Statutes|Volume : 07 - Public Facilities and Finance|Chapter 294 - County and Municipal Financial Administration|Section 294.835 - Standard of care; investment in certain stocks prohibited.

(1) In investing and reinvesting moneys in the investment pool and in acquiring, retaining, managing and disposing of investments of the investment pool there shall be exercised the judgment and care under the circumstances then prevailing, which individuals of prudence, discretion and intelligence exercise in the management of their own affairs, not in regard to speculation but in regard to the permanent disposition of their funds, considering the probable income as well as the probable safety of their capital. Within the limitations of the foregoing standard and subject to subsection (2) of this section, there may be acquired, retained, managed and disposed of as investments of the investment pool every kind of investment which individuals of prudence, discretion and intelligence acquire, retain, manage and dispose of for their own account. (2) Notwithstanding subsection (1) of this section, moneys in the investment pool may not be invested in the stock of any company, association or corporation. [1973 c.748 §8; 1979 c.608 §4; 2005 c.294 §2]
OR Rev Stat § 294.840 (2021)
2021 Oregon Revised Statutes|Volume : 07 - Public Facilities and Finance|Chapter 294 - County and Municipal Financial Administration|Section 294.840 - Investment policies; review; separate policies for individual public bodies.

Subject to the objective set forth in ORS 294.831 and the standards set forth in ORS 294.835, the Oregon Investment Council shall formulate policies for the investment and reinvestment of moneys in the investment pool and the acquisition, retention, management and disposition of investments of the investment pool. The council, from time to time, shall review those policies and make changes therein as it considers necessary or desirable. The council may formulate separate policies for any funds from any single public body included in the investment pool. [1973 c.748 §9; 2007 c.783 §122a]
OR Rev Stat § 294.845 (2021)
2021 Oregon Revised Statutes|Volume : 07 - Public Facilities and Finance|Chapter 294 - County and Municipal Financial Administration|Section 294.845 - Investment officer to invest, reinvest pool funds.

In amounts available for investment purposes and subject to the policies formulated by the Oregon Investment Council, the investment officer shall invest and reinvest moneys in the investment pool and acquire, retain, manage, including exercise of any voting rights, and dispose of investments of the investment pool. [1973 c.748 §10]
OR Rev Stat § 294.847 (2021)
2021 Oregon Revised Statutes|Volume : 07 - Public Facilities and Finance|Chapter 294 - County and Municipal Financial Administration|Section 294.847 - Prohibited conduct for investment officer.

In making investments pursuant to ORS 294.805 to 294.895, the investment officer may not: (1) Make a commitment to invest funds or sell securities more than 14 business days prior to the anticipated date of settlement of the purchase or sale transaction; (2) Enter into any agreement to invest funds or sell securities for future delivery for a fee other than interest; (3) Lend securities to any person or institution, except on a fully collateralized basis; (4) Pay for any securities purchased by the investment officer until the investment officer has received physical possession, or other sufficient evidence, as determined under ORS 293.751 (1), of title to the securities. However, the investment officer may instruct any custodial agent or bank to accept securities on the investment officer’s behalf against payment for the securities previously deposited with the custodial agent or bank by the investment officer; or (5) Deliver securities to the purchaser of the securities upon sale prior to receiving payment in full for the securities. However, the investment officer may deliver the securities to any custodial agent or bank upon instructions to hold the securities pending receipt by the custodial agent or bank of full payment for the securities. [1981 c.880 §11; 1991 c.88 §6; 2007 c.871 §27; 2008 c.18 §§2,3]
OR Rev Stat § 294.850 (2021)
2021 Oregon Revised Statutes|Volume : 07 - Public Facilities and Finance|Chapter 294 - County and Municipal Financial Administration|Section 294.850 - Contracts with persons to perform investment functions; compensation; bond.

The Oregon Investment Council may enter into contracts with one or more persons whom the council determines to be qualified, whereby the persons undertake, in lieu of the investment officer, to perform the functions specified in ORS 294.845 to the extent provided in the contract. Performance of functions under contract so entered into shall be paid for out of the gross interest or other income of the investments with respect to which the functions are performed, and the net interest or other income of the investments after that payment shall be considered income of the investment pool. The council may require a person contracted with to give to the state a fidelity bond in a penal sum as may be fixed by law or, if not so fixed, as may be fixed by the council, with corporate surety authorized to do business in this state. Contracts so entered into and functions performed thereunder are not subject to the State Personnel Relations Law or ORS 279A.140. [1973 c.748 §11; 2003 c.794 §251]
OR Rev Stat § 294.855 (2021)
2021 Oregon Revised Statutes|Volume : 07 - Public Facilities and Finance|Chapter 294 - County and Municipal Financial Administration|Section 294.855 - Legal opinions; investment counseling services; mortgage services.

(1) In the acquisition or disposition of bonds with which approving legal opinions ordinarily are furnished, the investment officer may require an original or certified copy of the written opinion of a reputable bond attorney or attorneys, or the written opinion of the Attorney General, certifying to the legality of the bonds. (2) The Oregon Investment Council may arrange for the furnishing to the investment officer of investment counseling services. The furnishing and acquisition of those services are not subject to the State Personnel Relations Law or ORS 279A.140. (3) The investment officer, with the approval of the council, may arrange for services with respect to mortgages in which moneys in the investment pool are invested. Those services shall be paid for out of the gross interest of the mortgages with respect to which the services are furnished, and the net interest of the mortgages after that payment shall be considered income of the investment pool. The furnishing and acquisition of those services are not subject to the State Personnel Relations Law or ORS 279A.140. [1973 c.748 §12; 2003 c.794 §252]
OR Rev Stat § 294.865 (2021)
2021 Oregon Revised Statutes|Volume : 07 - Public Facilities and Finance|Chapter 294 - County and Municipal Financial Administration|Section 294.865 - Monthly deductions from income received for payment of expenses.

The State Treasurer may deduct monthly a maximum of 0.435 basis points of the most recent market value of assets under the management of the investment pool. Amounts so deducted shall pay the State Treasurer for expenses of the State Treasurer as investment officer and to the extent the amounts deducted are so used shall be deposited into the Miscellaneous Receipts Account established in the General Fund for the State Treasurer, and are continuously appropriated for payment of the expenses of the State Treasurer as investment officer. [1973 c.748 §6; 1975 c.740 §9; 1977 c.266 §11; 1991 c.88 §2; 1995 c.288 §2; 1999 c.1043 §3; 2001 c.716 §25]
OR Rev Stat § 294.870 (2021)
2021 Oregon Revised Statutes|Volume : 07 - Public Facilities and Finance|Chapter 294 - County and Municipal Financial Administration|Section 294.870 - Separate accounts for public bodies; reports on investment changes and monthly financial statements required.

(1) The investment officer shall keep, for each public body with funds in the investment pool, a separate account, which shall record the individual amounts and the totals of all investments of its moneys in the investment pool. (2) The investment officer shall report monthly to the local government official or tribal government official of a public body with funds in the investment pool the changes in its account made during the preceding month for the investment pool. The investment officer shall also furnish a financial report monthly to each participating governmental unit investor in the investment pool. The financial report shall include, but not be limited to, such comparative data for the preceding six months operation of the investment pool as will provide a basis for analyzing trends and comparing operating results and financial position. A monthly statement shall be distributed within 30 days after the end of that month. [1973 c.748 §§14,15; 1979 c.608 §5; 1989 c.569 §4; 2007 c.783 §122b; 2013 c.338 §7]
OR Rev Stat § 294.875 (2021)
2021 Oregon Revised Statutes|Volume : 07 - Public Facilities and Finance|Chapter 294 - County and Municipal Financial Administration|Section 294.875 - Monthly report of investments of pool funds; distribution.

Not later than 15 days after the last day of each month, the investment officer shall submit to the Oregon Investment Council and the Oregon Short Term Fund Board a report of the investments made during the preceding month. The report shall include a detailed summary of investment, reinvestment, purchase, sale and exchange transactions, setting forth, among other matters, the investments bought, sold and exchanged, the dates thereof, the prices paid and obtained, the names of the dealers involved and a statement of the accounts referred to in ORS 294.870 (1). The reports shall include a description of every investment in the portfolio of assets in the investment pool showing issuer, coupon, purchase date, maturity date, yield to maturity, book value, market value as of the end of the month for which the report is rendered and the method used to value pool investments; a computation of the average life of the portfolio of assets in the investment pool weighted according to the market value of each investment that matures more than 270 days from the report date as of the end of the month for which the report is rendered; and a computation of the annualized rate of return of the investment pool portfolio, net of expense. A copy of the reports shall be made available to each county, municipality, school district and other political subdivision and tribal government the funds of which are then being invested by the investment officer. The investment officer may send copies of the report to investment bankers and brokers recommended by the council. [1973 c.748 §16; 1981 c.880 §17; 1987 c.381 §5; 2013 c.338 §8]
OR Rev Stat § 294.880 (2021)
2021 Oregon Revised Statutes|Volume : 07 - Public Facilities and Finance|Chapter 294 - County and Municipal Financial Administration|Section 294.880 - Program examination and audit; report; distribution.

An examination and audit of the investment pool shall be made separately from the audit of the treasurer for submission to the Oregon Investment Council, public bodies that are investors in the pool, the Legislative Assembly and the Oregon Short Term Fund Board at least once a year and at other times as the council may require. An audit report shall be submitted to the individuals and public bodies specified within 60 days after the end of the fiscal year or as soon as practical. The report shall include a statement prepared by the State Treasurer of the investment rules governing investments authorized by the council. [1973 c.748 §17; 1979 c.608 §6; 2007 c.783 §122c; 2013 c.338 §9]
OR Rev Stat § 294.882 (2021)
2021 Oregon Revised Statutes|Volume : 07 - Public Facilities and Finance|Chapter 294 - County and Municipal Financial Administration|Section 294.882 - Merger or subsequent separation of investment pool and Oregon Short Term Fund; preconditions.

(1) It is recognized that a time may come when the interest of local governments and tribal governments diminishes to the extent that participation in the investment pool no longer warrants its operation as a separate fund. If the investment pool decreases to a level below $125 million, the State Treasurer may transfer the assets of the pool to the Oregon Short Term Fund established under ORS 293.728. In that event, the investment pool participant accounts will be treated as are other state funds and accounts in receiving a proportionate share of the earnings of the Oregon Short Term Fund. Notwithstanding ORS 294.805 to 294.895, but subject to ORS 294.810, when the State Treasurer transfers the assets of the investment pool to the Oregon Short Term Fund, the distributions of income to local governments and tribal governments, payment of related expenses and the reporting, program examination and audit functions with respect to the investment pool participant accounts shall be administered in accordance with ORS 293.353 and 293.701 to 293.857. (2) The State Treasurer, at the discretion of the treasurer, may reestablish the investment pool as a separate fund if the participant accounts increase to over $125 million and, in the State Treasurer’s judgment, sufficient interest by local government and tribal government exists to ensure the investment pool will remain over $125 million. Prior to reestablishing the pool as a separate fund, the State Treasurer shall first present a plan for operation, including the reasons for such action, to the Oregon Investment Council at a regularly scheduled meeting for its review and comment. The State Treasurer shall publish notice in the Secretary of State’s administrative rules bulletin of the treasurer’s intent to reestablish the pool as a separate fund at least 30 days prior to the meeting at which the Oregon Investment Council shall review the proposal, and notice of the meeting time and location of the Oregon Investment Council at which the proposal will be discussed. [1979 c.608 §9; 1980 c.19 §7; 1983 c.456 §3; 1993 c.18 §62; 1997 c.129 §1; 1999 c.1043 §7; 2009 c.541 §15; 2009 c.821 §27; 2013 c.338 §10]
OR Rev Stat § 294.885 (2021)
2021 Oregon Revised Statutes|Volume : 07 - Public Facilities and Finance|Chapter 294 - County and Municipal Financial Administration|Section 294.885 - Oregon Short Term Fund Board; members; appointment; term; vacancies.

(1) There is created the Oregon Short Term Fund Board consisting of seven members. (2) One member shall be the State Treasurer or the treasurer’s designated representative. Three members, who are qualified by training and experience in the field of investment or finance and who do not hold any other public office or employment, shall be appointed by the State Treasurer. Three members, who are treasurers, finance or fiscal officers or business managers of any county, city or school district, shall be appointed by the Governor. In making the appointment, the Governor may consider persons recommended by: (a) The Association of Oregon Counties. (b) The League of Oregon Cities. (c) The Oregon School Boards Association. (d) One or more tribal governments with tribal government officials. (3) The term of office of each appointed member of the board is four years, but each appointed member serves at the pleasure of the appointing authority. A vacancy in the appointed membership occurring other than by expiration of term shall be filled in the same manner as the original appointment, but for the unexpired term only. [1973 c.748 §19; 1979 c.608 §7; 1981 c.880 §18; 1989 c.1006 §2; 2013 c.338 §11]
OR Rev Stat § 294.890 (2021)
2021 Oregon Revised Statutes|Volume : 07 - Public Facilities and Finance|Chapter 294 - County and Municipal Financial Administration|Section 294.890 - Board members serve without compensation; selection of chairperson.

(1) A member of the Oregon Short Term Fund Board shall serve without compensation. (2) The board shall select one of its members as chairperson, for a term and with the powers and duties necessary for the performance of the functions of the office as the board shall determine. [1973 c.748 §20]
OR Rev Stat § 294.895 (2021)
2021 Oregon Revised Statutes|Volume : 07 - Public Facilities and Finance|Chapter 294 - County and Municipal Financial Administration|Section 294.895 - Board duties, generally.

The Oregon Short Term Fund Board shall: (1) Advise the Oregon Investment Council and the investment officer in the management of the investment pool and in the investment of moneys deposited in the Oregon Short Term Fund established under ORS 293.728 and invested pursuant to ORS 293.701 to 293.857. (2) Review the rules promulgated by the investment officer as authorized under ORS 294.825 (4). (3) Consult with the council and the investment officer on any matter relating to the investment and reinvestment of funds in the investment pool and on any matter relating to the investment or reinvestment of moneys deposited in the Oregon Short Term Fund and invested by the State Treasurer. [1973 c.748 §21; 1981 c.880 §19; 1993 c.18 §63; 2009 c.541 §16; 2009 c.821 §28]
OR Rev Stat § 294.900 (2021)
2021 Oregon Revised Statutes|Volume : 07 - Public Facilities and Finance|Chapter 294 - County and Municipal Financial Administration|Section 294.900 - "Council of governments" defined.

As used in ORS 294.900 to 294.930, "council of governments" means an entity organized by units of local government under an intergovernmental agreement under ORS 190.003 to 190.130, which does not act under the direction and control of any single member government and does provide services directly to individuals. [1987 c.666 §1] Note: 294.900 to 294.930 were enacted into law by the Legislative Assembly but were not added to or made a part of ORS chapter 294 or any series therein by legislative action. See Preface to Oregon Revised Statutes for further explanation.
OR Rev Stat § 294.905 (2021)
2021 Oregon Revised Statutes|Volume : 07 - Public Facilities and Finance|Chapter 294 - County and Municipal Financial Administration|Section 294.905 - Budget committee; membership; term; vacancies; officers; meetings to be public.

(1) A council of governments shall establish a budget committee in accordance with the provisions of this section. (2) The budget committee shall consist of the members of the governing body of the council of governments and an equal number of representatives of the services provided by the council of governments. If there are fewer representatives of the services than the number of members of the governing body of the council, the governing body and the representatives willing to serve shall be the budget committee. If there are no representatives willing to serve, the governing body shall be the budget committee. (3) The members of the budget committee shall receive no compensation for their services as members of such committee. (4) Appointive members of the budget committee shall not be officers, agents or employees of the council of governments or providers of the services. (5) The appointive members of the budget committee shall be appointed for terms of three years. The terms shall be staggered so that one-third or approximately one-third of the terms of the appointive members end each year. (6) If any appointive member is unable to serve the term for which the member was appointed, or an appointive member resigns prior to completion of the term for which the member was appointed, the governing body of the council of governments shall fill the vacancy by appointment for the unexpired term. (7) The budget committee, at its first meeting after its appointment, shall elect a chairperson and a secretary from among its members. (8) Meetings of the budget committee shall comply with the requirements of ORS 192.610 to 192.690. [1987 c.666 §2] Note: See note under 294.900.