reglab/housing_qa huggingface dataset:
OR Rev Stat § 286A.095 (2021)
2021 Oregon Revised Statutes|Volume : 07 - Public Facilities and Finance|Chapter 286A - State Borrowing|Section 286A.095 - Compliance with constitutional or statutory debt limit.

(1) When calculating compliance with a constitutional or statutory debt limit: (a) If a bond is issued to a provider of a credit enhancement device for a bond that is subject to a debt limit, the bond issued to the provider must be taken into account only to the extent that the amount of the bond issued to the provider exceeds the amount of the bond that is secured by the credit enhancement device. (b) The amount of interest to be paid on bonds, whether paid currently or deferred, is not taken into account. (c) For a zero coupon bond or other original issue discount bond on which periodic interest payments are not made, only the accreted value of the bond on the date the bond is issued is taken into account. (d) The state may deduct from the amount of outstanding bonds: (A) The amount of moneys and investments held by the state or a trustee of the state to pay bonds that have not been defeased; and (B) The principal amount of bonds that have been defeased. (2) For purposes of this section, a bond is defeased if: (a) The state has set aside in an irrevocable escrow government obligations, as defined in ORS 287A.375, the receipts from which have been calculated by a certified public accountant or other experienced professional to be sufficient, without reinvestment, to pay the principal, interest and premium, if any, due on the bond at maturity or on prior redemption; or (b) The state has complied with the provisions in the documents authorizing the bond that provide for the payment or defeasance of the bond. [2007 c.783 §15]
OR Rev Stat § 286A.100 (2021)
2021 Oregon Revised Statutes|Volume : 07 - Public Facilities and Finance|Chapter 286A - State Borrowing|Section 286A.100 - Definitions for ORS 286A.100 and 286A.102.

As used in this section and ORS 286A.102: (1) "Obligation" means: (a) A bond; (b) An agreement for exchange of interest rates with the State of Oregon; or (c) A credit enhancement device given as additional security for a bond. (2) "Pledge" means: (a) To create a security interest in or a lien on property to secure payment or performance of an obligation, by mortgaging, assigning or encumbering property or by creating a security interest in property by any other manner. (b) A security interest in or lien on property created under paragraph (a) of this subsection. (3) "Pledgee" means: (a) A trustee for the holder of an obligation; or (b) The holder of an obligation if a trustee was not appointed in the operative document or if the operative document authorizes the holder of an obligation to foreclose the lien of a pledge and enforce the remedies consequent to the pledge in lieu of the trustee. (4) "Property" means: (a) Real or personal property, tangible or intangible, whether owned when the pledge is made or acquired subsequently to the time the pledge is made; and (b) Revenues, contract rights, receivables or securities. [2007 c.783 §17; 2009 c.537 §8]
OR Rev Stat § 286A.110 (2021)
2021 Oregon Revised Statutes|Volume : 07 - Public Facilities and Finance|Chapter 286A - State Borrowing|Section 286A.110 - Agreements for exchange of interest rates.

(1) A related agency with the approval of the State Treasurer, or the State Treasurer on behalf of a related agency, may enter into agreements for exchange of interest rates with counterparties. Agreements for exchange of interest rates may be made to manage payment, interest rate, spread or similar exposure undertaken in connection with a related bond upon a determination by the related agency, or by the State Treasurer on behalf of the related agency, that the agreement benefits the State of Oregon. (2) Subject to covenants applicable to a related bond and the limitations of this section, payments required under an agreement for the exchange of interest rates by the related agency, or the State Treasurer on behalf of the related agency, may: (a) Be treated as interest payments on the related bond; (b) Be made from revenues or other moneys that are pledged or otherwise committed to pay the related bond; and (c) Rank in an order of priority of payment relative to the payment of the related bond as the related agency, or the State Treasurer on behalf of the related agency, determines. (3) In connection with entering into an agreement under this section, a related agency, or the State Treasurer on behalf of the related agency, may enter into a credit enhancement device for an agreement for exchange of interest rates. (4) An agreement for exchange of interest rates is subject only to the limitations of this section and is not subject to a limitation applicable to the related bond. (5) With the approval of the State Treasurer, a related agency may use moneys derived from the issuance and sale of bonds to pay termination payments due under an agreement entered into under this section. (6) A related agency, with the approval of the State Treasurer, may: (a) Create reserves to pay amounts due under an agreement for exchange of interest rates; and (b) Fund the reserves with moneys derived from the issuance and sale of bonds or from revenues or other moneys described in subsection (2)(b) of this section. [2007 c.783 §10]
OR Rev Stat § 286A.118 (2021)
2021 Oregon Revised Statutes|Volume : 07 - Public Facilities and Finance|Chapter 286A - State Borrowing|Section 286A.118 - Termination payment of conduit borrower.

With the approval of the State Treasurer, a related agency 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 due under an agreement for exchange of interest rates entered into by the conduit borrower in relation to the outstanding, previously issued conduit revenue bonds. [2009 c.538 §4]
OR Rev Stat § 286A.120 (2021)
2021 Oregon Revised Statutes|Volume : 07 - Public Facilities and Finance|Chapter 286A - State Borrowing|Section 286A.120 - Credit enhancement devices.

(1) In addition to authority conferred by law other than this section, a related agency, with the approval of the State Treasurer, or the State Treasurer may: (a) Enter into a credit enhancement device agreement in order to provide liquidity or security for bonds or for an agreement for exchange of interest rates. The credit enhancement device may be secured only by moneys that the State of Oregon may legally commit to secure payment of the bonds that are secured by the credit enhancement device or related to the agreement for exchange of interest rates. (b) Obtain a credit enhancement device providing additional security for: (A) The payment of all or a portion of amounts owing under bonds; (B) The purpose of funding, in lieu of cash, all or a portion of a debt service reserve established with respect to bonds; or (C) The payment of amounts owing under an agreement for exchange of interest rates. (2) The related agency, with the approval of the State Treasurer, or the State Treasurer may pledge as security for the obligations of the State of Oregon arising under or with respect to a credit enhancement device all or a portion of revenues pledged to the payment of the bonds related to the credit enhancement device. (3) The State Treasurer may issue a bond to the provider of a credit enhancement device to secure the obligations of the State of Oregon to pay amounts due to the provider. [2007 c.783 §8]
OR Rev Stat § 286A.123 (2021)
2021 Oregon Revised Statutes|Volume : 07 - Public Facilities and Finance|Chapter 286A - State Borrowing|Section 286A.123 - Agency purchase of own bonds.

(1) A related agency, with the approval of the State Treasurer, or the State Treasurer, on behalf of a related agency: (a) May bid for, purchase, hold, cause to be held in trust and remarket bonds issued by the State Treasurer on behalf of the related agency. (b) May not, except as provided in ORS 293.793 (2), bid for, purchase, hold, cause to be held in trust and remarket bonds issued by the State Treasurer on behalf of another state agency. (2) Except as otherwise provided in the operative documents, the purchase or acquisition of bonds under subsection (1) of this section does not cancel or extinguish the bonds unless the related agency elects in writing to cancel or extinguish the bonds. (3) In addition to other uses authorized by law, a related agency, or the State Treasurer on behalf of a related agency, may purchase bonds under subsection (1) of this section using moneys that are: (a) Deposited in a fund or account in the State Treasury for the use of the related agency or held by a trustee of the related agency; and (b) Appropriated or otherwise legally available to the related agency for repayment of the bonds or for payment of the costs of the related agency to administer the program under which the bonds were sold, including bond proceeds and reserves established for the bonds. (4) Within two business days after using the authority to purchase bonds under this section, the State Treasurer shall notify the legislative revenue committees, when the Legislative Assembly is in regular or special session, or the Legislative Revenue Officer and the Legislative Fiscal Officer, during the interim, of: (a) The amount and status of the bonds purchased by or on behalf of a related agency under this section; and (b) The current or anticipated interest rates applicable to the bonds. (5) Not later than February 1 of each year, the State Treasurer shall submit a report to the legislative revenue committees, when the Legislative Assembly is in regular or special session, or to the Legislative Revenue Officer and the Legislative Fiscal Officer, during the interim, describing: (a) The amount and status of bonds purchased during the previous year by or on behalf of related agencies under this section; and (b) The savings realized or costs incurred by related agencies from the purchase of bonds under this section. [2009 c.537 §2]
OR Rev Stat § 286A.132 (2021)
2021 Oregon Revised Statutes|Volume : 07 - Public Facilities and Finance|Chapter 286A - State Borrowing|Section 286A.132 - Debt-related advisory services.

(1) In addition to authority conferred by law other than this section, the State Treasurer or, with the approval of the State Treasurer, a related agency may enter into an agreement with and retain the services of one or more: (a) Providers of investment advisory services or advisory services related to agreements for exchange of interest rates; (b) Providers of banking services; (c) Escrow agents; (d) Providers of fiscal or paying agent services; (e) Collateral custodians; (f) Providers of investment contracts; (g) Remarketing agents; or (h) Other bond-related or credit enhancement device-related agents or service professionals, or other persons with relevant expertise, to assist the State Treasurer or the related agency in the performance of the duties of the State Treasurer or the related agency under this chapter. (2) The related agency shall pay the expenses incurred in providing the services described in this section unless the related agency requires a recipient of bond sale proceeds to pay the expenses. (3) The Public Contracting Code does not apply to an agreement entered into under this section. (4) When the Oregon Constitution or a law of this state authorizes bond proceeds to be spent for a particular purpose, the authorization also includes authorization to spend bond proceeds for bond counsel, attorney, consultant, fiscal or paying agent, trustee or other professional fees and other expenses incurred by the related agency or the State Treasurer to authorize, issue, administer and repay the bonds, including fees payable to the State Treasurer. [2007 c.783 §21]
OR Rev Stat § 286A.140 (2021)
2021 Oregon Revised Statutes|Volume : 07 - Public Facilities and Finance|Chapter 286A - State Borrowing|Section 286A.140 - State taxation of bond interest.

Except as provided in ORS 289.250, interest on all bonds of the State of Oregon is exempt from personal income tax under ORS chapter 316. [2007 c.783 §22; 2015 c.548 §4]
OR Rev Stat § 286A.145 (2021)
2021 Oregon Revised Statutes|Volume : 07 - Public Facilities and Finance|Chapter 286A - State Borrowing|Section 286A.145 - Federal taxation of bond interest; interest rate subsidies; rules.

(1) The State Treasurer or a related agency may enter into covenants for the benefit of owners of bonds that are intended to allow the bonds to bear interest that is excluded from gross income under the federal Internal Revenue Code or that is otherwise exempt from taxation by the United States. The State Treasurer or a related agency may adopt rules or procedures that are intended to facilitate compliance with those covenants, and may take any action that is required to comply with those covenants. Covenants authorized by this subsection include, but are not limited to, covenants to: (a) Pay any rebates of earnings or penalties to the United States; (b) Invest proceeds alone or in combination with other moneys in investments that have different maturities, yields or credit qualities than the state would acquire under the investment standards specified in ORS 293.721 and 293.726 and other similar laws, but only if those investments facilitate compliance with covenants described in this subsection; or (c) Restrict the expenditure of bond proceeds or restrict the operation of, or otherwise limit the use of, facilities that are financed with bonds. (2) When the State of Oregon receives interest rate subsidies from the United States in connection with bonds, the State Treasurer or the related agency, to the extent permitted by federal law, may: (a) Apply the subsidies to pay bonds of the related agency and credit the subsidies to an account that is used to pay bonds of the related agency; (b) Pledge the subsidies to secure bonds of the related agency; or (c) Use the subsidies to pay costs that would otherwise be paid with proceeds of bonds of the related agency and credit the subsidies to accounts that are used to pay the costs. [2007 c.783 §23; 2010 c.3 §6]
OR Rev Stat § 286A.160 (2021)
2021 Oregon Revised Statutes|Volume : 07 - Public Facilities and Finance|Chapter 286A - State Borrowing|Section 286A.160 - Exception to expenditure limits for repaying obligations; administrative limits; reports.

(1) Notwithstanding any law limiting expenditures of a state agency, for the purpose of repaying obligations of the state to obtain savings in total or periodic debt service payments, a law limiting expenditures does not apply to payments approved by the State Treasurer for administrative expenses, debt service or financing costs that are necessary or appropriate for the retirement or refunding of bonds unless the law limiting expenditures creates a specific exception to this section. (2) The Oregon Department of Administrative Services may establish administrative limitations on the payment and recording of expenditures made pursuant to subsection (1) of this section. (3) The Oregon Department of Administrative Services shall report incurred expenses and debt service savings resulting from actions taken under subsection (1) of this section that affect administrative expenses, debt service or financing costs paid with moneys out of the General Fund or lottery funds, within 90 days of taking action, to the Joint Committee on Ways and Means if the Legislative Assembly is in session or to the Emergency Board or to the Joint Interim Committee on Ways and Means during the interim between legislative sessions. [Formerly 286.063; 2012 c.107 §20]
OR Rev Stat § 286A.185 (2021)
2021 Oregon Revised Statutes|Volume : 07 - Public Facilities and Finance|Chapter 286A - State Borrowing|Section 286A.185 - Cancellation, purchase or redemption of bonds; lost or destroyed evidence of bonds; rules.

(1) The State Treasurer may adopt rules, or establish by contract or policy, procedures and requirements for the cancellation, purchase or redemption of bonds, the remittance of funds to pay bonds, or the replacement of lost or destroyed evidence of bonds or interest coupons. (2) If the State Treasurer decides: (a) To replace lost or destroyed evidence of bonds or coupons, or to make payment in lieu of replacement, the State Treasurer may require indemnity, deposit or other form of assurance or proof of ownership to ensure against conflicting, duplicative or fraudulent claims. The State Treasurer may charge a fee to the person seeking replacement or payment in lieu of replacement under this section, in an amount sufficient to reimburse the State Treasurer for costs incurred in providing replacement or payment under this subsection. (b) Not to replace or make payment with respect to a lost or destroyed bond or coupon, the person seeking replacement or payment under this section may appeal the determination as a review of an order other than a contested case under ORS 183.484. [2007 c.783 §24]
OR Rev Stat § 286A.190 (2021)
2021 Oregon Revised Statutes|Volume : 07 - Public Facilities and Finance|Chapter 286A - State Borrowing|Section 286A.190 - Disclosure of bond ownership.

The records of bond ownership are not public records for purposes of ORS 192.311 to 192.478 or other law governing the disclosure of information. [2007 c.783 §25]
OR Rev Stat § 286A.195 (2021)
2021 Oregon Revised Statutes|Volume : 07 - Public Facilities and Finance|Chapter 286A - State Borrowing|Section 286A.195 - Financial audit of bond programs.

(1) The Secretary of State shall conduct a financial audit of the bond programs of each state agency at least annually. The Secretary of State shall publish the audit as soon as possible following the end of the audit period. (2) The Oregon Department of Administrative Services may, on an annual basis, exempt a bond program from the requirements of subsection (1) of this section. [2007 c.783 §26]
OR Rev Stat § 286A.200 (2021)
2021 Oregon Revised Statutes|Volume : 07 - Public Facilities and Finance|Chapter 286A - State Borrowing|Section 286A.200 - Administration of certain bond programs by Oregon Department of Administrative Services.

(1) The Oregon Department of Administrative Services may, with respect to bonds described in subsection (2) of this section, administer bond programs and the transfer or disbursement of bond proceeds through intergovernmental agreements or grant or loan agreements containing terms and conditions the department determines are necessary or advisable to: (a) Protect any tax benefit related to the bonds; (b) Protect the State of Oregon from liability due to the failure of grantees or borrowers to comply with legal requirements related to the bonds, including requirements under the Internal Revenue Code; (c) Ensure that bond proceeds are used for authorized or intended purposes; (d) Ensure that adequate funds will be available for repayment of the bonds; or (e) Ensure compliance with state and federal law. (2) The department may exercise powers authorized under subsection (1) of this section with respect to: (a) Bonds issued under ORS 286A.560 to 286A.585 (lottery bonds); (b) Bonds issued under ORS 286A.710 to 286A.720 and Article XI-D of the Oregon Constitution (state power development); (c) Bonds issued under ORS 286A.760 to 286A.772 and Article XI-M of the Oregon Constitution (seismic rehabilitation of public education buildings); (d) Bonds issued under ORS 286A.780 to 286A.792 and Article XI-N of the Oregon Constitution (seismic rehabilitation of emergency services buildings); (e) Bonds issued under ORS 286A.796 to 286A.806 and Article XI-P of the Oregon Constitution (school district capital costs); (f) Bonds issued under ORS 286A.816 to 286A.826 and Article XI-Q of the Oregon Constitution (property owned or operated by state); and (g) Bonds issued under ORS 286A.830 to 286A.863 and Article XI-F(1) or Article XI-G of the Oregon Constitution (higher education). [2017 c.9 §5]
OR Rev Stat § 286A.250 (2021)
2021 Oregon Revised Statutes|Volume : 07 - Public Facilities and Finance|Chapter 286A - State Borrowing|Section 286A.250 - State Debt Policy Advisory Commission; membership; compensation; quorum; meetings; personnel; consultation with other agencies.

(1) There is established a State Debt Policy Advisory Commission, consisting of five members. (2) The State Treasurer and the Director of the Oregon Department of Administrative Services shall serve as ex officio members of the commission. One member of the commission must be a member of the Senate appointed by the President of the Senate. One member of the commission must be a member of the House of Representatives appointed by the Speaker of the House. One member of the commission must be a public member, knowledgeable on matters of public finance, appointed by the Governor from among those persons recommended by the State Treasurer. (3) The term of an appointed member is two years, but an appointed member serves at the pleasure of the appointing authority. Before the expiration of the term of an appointed member, the appointing authority shall appoint a successor. If there is a vacancy for any reason in the office of an appointed member, the appointing authority shall make an appointment to become immediately effective for the unexpired term. (4) A member of the commission is entitled to compensation and expenses as provided in ORS 292.495. (5) The State Treasurer shall serve as chairperson of the commission, with the duties and powers necessary for the performance of that office that the commission determines appropriate. (6) A majority of the members of the commission constitutes a quorum for the transaction of business. (7) The commission shall meet at least once every year at a place and time determined by the commission. The commission also shall meet at other times and places specified by the call of the chairperson or of a majority of the members of the commission. (8) The office of the State Treasurer shall provide the commission with office space and clerical and other administrative support. (9) When preparing documents or reports or other materials for or by the State Debt Policy Advisory Commission, and prior to the release of the documents, reports or other materials to the public, the State Treasurer shall consult and share the documents, reports or other materials with the Oregon Department of Administrative Services and the Legislative Fiscal Office. [Formerly 286.550; 2015 c.40 §1; 2016 c.118 §5] Note: 286A.250 and 286A.255 were enacted into law by the Legislative Assembly but were not added to or made a part of ORS chapter 286A or any series therein by legislative action. See Preface to Oregon Revised Statutes for further explanation.
OR Rev Stat § 286A.255 (2021)
2021 Oregon Revised Statutes|Volume : 07 - Public Facilities and Finance|Chapter 286A - State Borrowing|Section 286A.255 - Functions and duties of commission.

The State Debt Policy Advisory Commission shall advise the Governor and the Legislative Assembly regarding policies and actions that enhance and preserve the state’s credit rating and maintain the future availability of low-cost capital financing. In carrying out this function, the commission shall at least annually prepare a report showing the consolidated bond profile of this state. The report must include: (1) The total amount of outstanding bonds for the most recently concluded fiscal year. (2) A forecast for at least the next six years of the state’s borrowing capacity targets by repayment source that is based on the policies and actions established under this section and that is consistent with the most recently published revenue forecast by the Oregon Department of Administrative Services. (3) A calculation of the state’s net remaining borrowing capacity by repayment source. [Formerly 286.555; 2015 c.40 §2] Note: See note under 286A.250.