2023 Oregon Revised Statutes › Volume : 09 - Education and Culture › Chapter 352 - Public Universities › Section 352.388 - Definitions for ORS 352.388 to 352.415.

As used in ORS 352.388 to 352.415:
(1) "Bond-related costs" means:
(a) The costs of paying the principal of, the interest on and the premium, if any, on revenue bonds.
(b) The costs and expenses of issuing, administering and maintaining revenue bonds, including, but not limited to, the costs and expenses of:
(A) Redeeming revenue bonds.
(B) Paying amounts due in connection with credit enhancement devices or agreements for exchange of interest rates.
(C) Paying the fees, administrative costs and expenses of a public university listed in ORS 352.002 related to revenue bonds, including, but not limited to, the costs of consultants, bond trustees, remarketing agents, escrow agents, arbitrage rebate consultants, calculation agents and advisers retained by the university.
(c) The costs of funding reserves for the revenue bonds.
(d) Capitalized interest for the revenue bonds.
(e) Rebates or penalties due to the United States in connection with the revenue bonds.
(f) Any other costs or expenses that a public university determines are necessary or desirable in connection with issuing and maintaining the revenue bonds.
(2) "Credit enhancement device" means an agreement or contractual relationship between a public university listed in ORS 352.002 and a bank, trust company, insurance company, surety bonding company, pension fund or other financial institution or entity providing additional credit on or security for a revenue bond.
(3) "For the benefit of a public university" means, in relation to state bonds:
(a) Before August 14, 2013, the portion of the proceeds of the state bonds that was used to finance property, projects or liabilities on behalf of the State Board of Higher Education and for the benefit of a public university listed in ORS 352.002 in pursuing the purposes and missions of the university.
(b) On or after August 14, 2013, the portion of the proceeds of the state bonds a public university listed in ORS 352.002 is eligible to receive under ORS 352.402 to finance property, projects or liabilities on behalf of and for the benefit of a public university in pursuing the purposes and missions of the university.
(4) "Obligation" means:
(a) A revenue bond;
(b) The commitment of a public university listed in ORS 352.002 in connection with a credit enhancement device; or
(c) An agreement for exchange of interest rates.
(5) "Operative document" means a bond declaration, trust agreement, indenture, security agreement or other document in which a public university listed in ORS 352.002 makes a pledge.
(6) "Pledge" means:
(a) To create a lien on revenue or property.
(b) A lien created on revenue or property.
(7) "Revenue" means tuition, fees, charges, rents, revenues, interest, dividends, receipts and other income of a public university listed in ORS 352.002, except moneys received by the university from taxes collected by the State of Oregon.
(8) "Revenue bond":
(a) Means a contractual undertaking or instrument of a public university listed in ORS 352.002 to repay borrowed moneys, which undertaking or instrument is secured by a pledge of all or part of the revenue of the university.
(b) Does not mean a credit enhancement device or a state bond. [Formerly 351.365; 2017 c.440 §27]
Note:
Definitions in ORS 352.029 also apply to ORS 352.388 to 352.415.