reglab/statecodes huggingface dataset:
2023 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.
2023 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.
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 286A - State Borrowing › Section 286A.563 - Purposes; nature of lottery bonds.

(1) The Legislative Assembly declares that the purpose of ORS 286A.560 to 286A.585 is to combine previously enacted legislation authorizing lottery bonds into a single Act that provides uniform administrative procedures for all lottery bonds issued by the State of Oregon.
(2) The lottery bonds issued under ORS 286A.560 to 286A.585 shall be special obligations of the State of Oregon that are payable solely from unobligated net lottery proceeds, amounts available in the Lottery Bond Fund and in any reserve accounts established for lottery bonds under ORS 286A.560 to 286A.585 and any appropriated funds. The faith and credit of the State of Oregon or any of its taxing power shall not be pledged or committed to the payment of lottery bonds or any other commitment of the State of Oregon authorized by ORS 286A.560 to 286A.585. [Formerly 286.563]
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 286A - State Borrowing › Section 286A.566 - Requirements for legislation authorizing lottery bonds.

(1) Any legislation authorizing issuance of lottery bonds under ORS 286A.560 to 286A.585 shall:
(a) State the purposes for which the proceeds of lottery bonds may be spent;
(b) Contain findings that those uses are lawful uses of lottery revenues;
(c) Indicate the amount of lottery bonds that may be issued under the legislation;
(d) Specify the fund into which the net proceeds of those lottery bonds shall be deposited; and
(e) Provide for the payment of the bond-related costs for the lottery bonds.
(2) Unless specifically prohibited by the legislation authorizing lottery bonds:
(a) Any agency or other entity holding net proceeds of lottery bonds shall, upon the written request of the Director of the Oregon Department of Administrative Services, transfer to the Oregon Department of Administrative Services for deposit in the Lottery Bond Administrative Fund the amounts that the director states in the request are reasonably required to pay for bond-related costs that are allocable to those net proceeds.
(b) The agencies or other entities receiving proceeds of lottery bonds shall, if so directed by the Oregon Department of Administrative Services, take any action specified by the Oregon Department of Administrative Services that is necessary to maintain the excludability of lottery bond interest from gross income under the Internal Revenue Code. [Formerly 286.566]
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 286A - State Borrowing › Section 286A.570 - Lottery Bond Fund; purposes.

(1) The Lottery Bond Fund is established in the State Treasury, separate and distinct from the General Fund. The amounts of unobligated net lottery proceeds described in ORS 286A.576 (2)(a) and (b) and any appropriated funds and investment earnings of the Lottery Bond Fund shall be credited to the Lottery Bond Fund. The State Treasurer may establish reserves for lottery bonds as provided in ORS 286A.580 (6). The reserves shall be credited to such account in the Lottery Bond Fund as the State Treasurer may designate.
(2) The amounts credited to the Lottery Bond Fund are continuously appropriated only for the purpose of paying, when due, the principal of and the interest and premium, if any, on outstanding lottery bonds, funding lottery bond reserves and paying amounts due in connection with any instrument authorized by ORS 286A.580 (6).
(3) The moneys in the Lottery Bond Fund shall be used and applied solely to pay, when due, the principal of and the interest and premium, if any, on any lottery bonds, to fund reserves and to pay amounts due under instruments authorized by ORS 286A.580 (6). [Formerly 286.570]
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 286A - State Borrowing › Section 286A.573 - Lottery Bond Administrative Fund; purposes.

The Lottery Bond Administrative Fund is established in the State Treasury, separate and distinct from the General Fund. The amounts of unobligated net lottery proceeds specified in ORS 286A.576 (2)(c), the proceeds of any lottery bonds issued to pay bond-related costs and the investment earnings on amounts in the Lottery Bond Administrative Fund shall be credited to the Lottery Bond Administrative Fund. All moneys credited from time to time to the Lottery Bond Administrative Fund, including any investment earnings thereon, are appropriated continuously to the Oregon Department of Administrative Services only for payment of bond-related costs. Amounts in the Lottery Bond Administrative Fund shall be disbursed upon the written request of the Director of the Oregon Department of Administrative Services. [Formerly 286.573]
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 286A - State Borrowing › Section 286A.578 - Litigation challenging legality of Oregon State Lottery.

(1) Lottery bonds may be issued pursuant to ORS 286A.580 without regard to any litigation challenging the legality of the Oregon State Lottery. Lottery bonds issued pursuant to ORS 286A.580 are valid and binding obligations of the State of Oregon that are payable only from amounts pledged under ORS 286A.580 (7) or from appropriated funds, even if the Oregon State Lottery is partially or wholly invalidated. In the event the lottery is invalidated, the Oregon Department of Administrative Services shall request the Legislative Assembly or, if the Legislative Assembly is not in session, the Emergency Board to provide appropriated funds pursuant to ORS 286A.580 (6).
(2) By enacting this section, the Legislative Assembly acknowledges its current intention to provide appropriated funds if amounts are certified by the Director of the Oregon Department of Administrative Services under ORS 286A.580, but the Legislative Assembly or the Emergency Board does not have a legal obligation to provide appropriated funds. [Formerly 286.578]
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 286A - State Borrowing › Section 286A.605 - Definitions for ORS 286A.605 to 286A.625.

As used in ORS 286A.605 to 286A.625:
(1) "Issuer" means an entity that may issue private activity bonds that are qualified bonds on which the interest is exempt from federal taxation.
(2) "Private activity bonds" has the meaning given in section 141 of the Internal Revenue Code. [Formerly 286.605]
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 286A - State Borrowing › Section 286A.620 - Private activity bond volume cap.

The Legislative Assembly may allocate the amount of private activity bond volume cap among state agencies and the Private Activity Bond Committee for the two calendar years that begin in a biennium. Any volume cap that the state receives that is not allocated by the Legislative Assembly may be allocated by the Private Activity Bond Committee. [2007 c.783 §31]
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 286A - State Borrowing › Section 286A.630 - Reallocation of private activity bond cap; rules.

(1) The Legislative Assembly finds that the American Recovery and Reinvestment Act of 2009 (P.L. 111-5) provides that the State of Oregon may receive, allocate and reallocate the authority to issue certain kinds of state and local government bonds that qualify for tax credits, federal subsidies or exclusion of bond interest from gross income under the United States Internal Revenue Code of 1986, as amended.
(2) As described in subsections (3) to (6) of this section, state agencies and the Private Activity Bond Committee may allocate and reallocate or take any additional actions that are desirable to maximize the benefits of bonding programs created or expanded by the American Recovery and Reinvestment Act of 2009 (P.L. 111-5).
(3) The Department of Education, with the approval of the Governor, may allocate, reallocate and otherwise manage this state’s qualified school construction bonding authority.
(4) The Oregon Business Development Department may allocate, reallocate and otherwise manage this state’s recovery zone economic development bonding authority and this state’s recovery zone facility bonding authority.
(5) The State Department of Energy may allocate, reallocate and otherwise manage this state’s qualified energy conservation bonding authority.
(6) The Private Activity Bond Committee may allocate, reallocate and otherwise manage any bonding authority that is created or expanded by the American Recovery and Reinvestment Act of 2009 (P.L. 111-5) if that responsibility is not assigned to a state agency by this section, or if an agency that is assigned that responsibility requests the Private Activity Bond Committee to allocate that authority on behalf of that agency.
(7) The Department of Education, the Oregon Business Development Department, the State Department of Energy and the Private Activity Bond Committee may adopt rules to implement the provisions of this section including, but not limited to, rules prescribing:
(a) Application processes and requirements to receive a subsequent allocation or reallocation;
(b) Standards upon which an allocation or reallocation may be based; and
(c) Any conditions that must be met to receive an allocation or reallocation of the bonding authority or to receive the benefits of such bonding authority. [2009 c.885 §12]
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 286A - State Borrowing › Section 286A.700 - Authority to issue baccalaureate bonds.

(1) As used in this section:
(a) "Oregon Baccalaureate Bonds" means bonds of the State of Oregon issued by the State Treasurer at the request of the Higher Education Coordinating Commission that are designated as baccalaureate bonds.
(b) "Post-secondary education" means training and instruction provided by fully accredited public universities or private institutions of higher learning, community colleges and post-high-school career schools.
(2) The Legislative Assembly encourages citizens of the State of Oregon to avail themselves of post-secondary education opportunities.
(3) The Legislative Assembly finds:
(a) For the benefit of its citizens, the state supports a system of common schools, public universities and community colleges.
(b) A post-secondary education advances a citizen’s ability to pursue life, liberty and happiness through a wide range of employment opportunities.
(c) A well-educated citizenry contributes to the economic well-being of the state and nation.
(d) A well-trained and skilled citizenry enhances economic development of the state.
(e) While students have just begun their education upon completion of a formal education, a lifetime pursuit of learning contributes to a well-informed citizenry and to Oregon’s cherished quality of life.
(f) Citizens educated in Oregon are more likely to pursue careers in Oregon.
(g) It is in the interest of this state to encourage its citizens to plan and save for a post-secondary education.
(h) An Oregon Baccalaureate Bond program that provides citizens an opportunity to save for a post-secondary education for their children, themselves or any citizen is in the social and economic interest of the State of Oregon.
(i) A systematic way to save for post-secondary education can assist all of Oregon’s higher education, community college and career schools to better project enrollments, thereby permitting the prudent allocation of scarce resources.
(4) At the request of the Higher Education Coordinating Commission, the State Treasurer may:
(a) Issue bonds as Oregon Baccalaureate Bonds, to encourage investors to save for post-secondary education opportunities.
(b) Investigate and implement the means and procedures to facilitate the participation by the broadest practical range of investors in the Oregon Baccalaureate Bond program. The means and procedures may include, but are not limited to, adjustments in the denominations in which the bonds are issued and the frequency with which the bonds are issued.
(5) The purchase of an Oregon Baccalaureate Bond does not guarantee the purchaser, owner or beneficiary of the bond admittance to a public university or private post-secondary institution. [2007 c.783 §33; 2011 c.637 §96; 2013 c.768 §123d; 2015 c.767 §9]
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 286A - State Borrowing › Section 286A.710 - Definitions for ORS 286A.710 to 286A.720.

As used in ORS 286A.710 to 286A.720:
(1) "Article XI-D bonds" means general obligation bonds issued under the authority of Article XI-D of the Oregon Constitution.
(2) "Bond-related costs" means:
(a) The costs of paying the principal of, the interest on and the premium, if any, on Article XI-D bonds;
(b) The costs and expenses of issuing, administering and maintaining Article XI-D bonds including, but not limited to, redeeming Article XI-D bonds and paying amounts due in connection with credit enhancements or the administrative costs and expenses of the State Treasurer, the State Department of Energy and the Oregon Department of Administrative Services, including costs of consultants or advisers retained by the State Treasurer, the State Department of Energy or the Oregon Department of Administrative Services for the purpose of issuing, administering or maintaining Article XI-D bonds;
(c) Capitalized interest on Article XI-D bonds;
(d) Costs of funding reserves for Article XI-D bonds, including costs of surety bonds and similar instruments;
(e) Rebates or penalties due the United States Government in connection with Article XI-D bonds; and
(f) Other costs or expenses that the Director of the Oregon Department of Administrative Services determines are necessary or desirable in connection with issuing, administering or maintaining Article XI-D bonds. [2009 c.893 §2]
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 286A - State Borrowing › Section 286A.712 - Authority of State Treasurer to issue bonds.

(1) Article XI-D bonds are a general obligation of the State of Oregon and must contain a direct promise on behalf of the State of Oregon to pay the principal of, the interest on and the premium, if any, on the Article XI-D bonds. The State of Oregon shall pledge its full faith and credit and taxing power to pay Article XI-D bonds, except that the ad valorem taxing power of the State of Oregon may not be pledged to pay Article XI-D bonds.
(2) In accordance with the applicable provisions of this chapter, the State Treasurer, with the concurrence of the Director of the State Department of Energy, may issue Article XI-D bonds:
(a) At the request of the Director of the Oregon Department of Administrative Services for any of the purposes specified in Article XI-D of the Oregon Constitution, plus an amount determined by the State Treasurer to pay estimated bond-related costs; and
(b) Subject to the limit on bond issuance established for the particular biennium in ORS 286A.035.
(3) The State Treasurer may issue Article XI-D bonds for the purpose of financing the refund of Article XI-D bonds.
(4) The State Treasurer shall transfer the net proceeds of Article XI-D bonds issued for the purpose described in subsection (2)(a) of this section to the State Department of Energy for deposit in the Renewable Energy Fund established under ORS 286A.718. [2009 c.893 §3; 2017 c.9 §18]
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 286A - State Borrowing › Section 286A.714 - Article XI-D Bond Fund; purposes.

(1) The Article XI-D Bond Fund is established in the State Treasury, separate and distinct from the General Fund. Amounts in the bond fund may be invested as provided in ORS 293.701 to 293.857, and interest earned on the bond fund must be credited to the bond fund. Amounts credited to the bond fund are continuously appropriated to the Oregon Department of Administrative Services for the purpose of paying, when due, the principal of, the interest on and the premium, if any, on outstanding Article XI-D bonds. The department shall deposit in the bond fund:
(a) Capitalized or accrued interest on Article XI-D bonds;
(b) Amounts appropriated or otherwise provided by the Legislative Assembly for deposit in the bond fund; and
(c) Reserves established for the payment of Article XI-D bonds.
(2) The department may create separate accounts in the bond fund for reserves and debt service for each series of Article XI-D bonds. [2009 c.893 §4]
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 286A - State Borrowing › Section 286A.716 - Article XI-D Bond Administration Fund; purposes.

(1) The Article XI-D Bond Administration Fund is established in the State Treasury, separate and distinct from the General Fund. Amounts in the bond administration fund may be invested as provided in ORS 293.701 to 293.857, and interest earned on the bond administration fund must be credited to the bond administration fund. Amounts credited to the bond administration fund are continuously appropriated to the Oregon Department of Administrative Services for payment of bond-related costs. The department shall credit to the bond administration fund:
(a) Proceeds of Article XI-D bonds that were issued to pay bond-related costs;
(b) Amounts appropriated or otherwise provided by the Legislative Assembly for deposit in the bond administration fund; and
(c) Amounts transferred from the Renewable Energy Fund by the State Department of Energy as provided in ORS 286A.718.
(2) The department may create separate accounts in the bond administration fund. [2009 c.893 §5]
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 286A - State Borrowing › Section 286A.718 - Renewable Energy Fund; purposes; rules.

(1) The Renewable Energy Fund is established in the State Treasury, separate and distinct from the General Fund. Amounts in the fund may be invested as provided in ORS 293.701 to 293.857, and interest earned on the fund must be credited to the fund. Amounts credited to the fund are continuously appropriated to the State Department of Energy for the purpose described in ORS 286A.712 (2)(a) and for the purpose of paying bond-related costs. The department shall deposit in the fund:
(a) The net proceeds of Article XI-D bonds transferred pursuant to ORS 286A.712 (4);
(b) Amounts appropriated or otherwise provided by the Legislative Assembly for deposit in the fund; and
(c) Gifts, grants or contributions received by the department for the purpose described in ORS 286A.712 (2)(a).
(2) The State Department of Energy may create separate accounts in the Renewable Energy Fund as appropriate for the management of moneys in the fund.
(3) The State Department of Energy and any other state agency or other entity receiving or holding net proceeds of Article XI-D bonds shall, at the direction of the Oregon Department of Administrative Services, take action necessary to maintain the excludability of interest on Article XI-D bonds from gross income under the Internal Revenue Code.
(4) If at any time the Oregon Department of Administrative Services or the State Department of Energy determines that there are moneys in the Renewable Energy Fund in excess of the amounts necessary for the purpose described in ORS 286A.712 (2)(a), the Oregon Department of Administrative Services or the State Department of Energy may transfer the excess amounts to the Article XI-D Bond Fund or to the Article XI-D Bond Administration Fund.
(5) The State Department of Energy may adopt rules to carry out this section, including procedures for distributing and monitoring the use of moneys from the Renewable Energy Fund. [2009 c.893 §6]
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 286A - State Borrowing › Section 286A.720 - Payment of bond-related costs.

For each biennium in which Article XI-D bonds will be outstanding, the Oregon Department of Administrative Services shall include in the Governor’s budget an amount that, when added to the amount on deposit in the Article XI-D Bond Fund and the Article XI-D Bond Administration Fund, is sufficient to pay the bond-related costs that are scheduled to come due in the biennium. [2009 c.893 §7; 2016 c.117 §48]
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 286A - State Borrowing › Section 286A.730 - Definitions for ORS 286A.730 to 286A.750.

As used in ORS 286A.730 to 286A.750, unless the context requires otherwise:
(1) "Article XI-O bonds" means general obligation bonds or other general obligation indebtedness issued or incurred under the authority of Article XI-O of the Oregon Constitution.
(2) "Bond administration fund" means the Article XI-O Bond Administration Fund established under ORS 286A.745.
(3) "Bond fund" means the Article XI-O Bond Fund established under ORS 286A.740.
(4) "Bond-related costs" means:
(a) The costs of paying the principal of, the interest on and the premium, if any, on Article XI-O bonds;
(b) The costs and expenses of issuing, administering and maintaining Article XI-O bonds including, but not limited to, redeeming Article XI-O bonds, paying amounts due in connection with bond insurance, other credit enhancements or the administrative costs and expenses of the State Treasurer and the Oregon Department of Administrative Services, including costs of consultants or advisors retained by the State Treasurer or the Oregon Department of Administrative Services for the purpose of issuing, administering or maintaining Article XI-O bonds;
(c) Capitalized interest on Article XI-O bonds;
(d) Costs of funding reserves for Article XI-O bonds, including costs of surety bonds and similar instruments;
(e) Rebates or penalties due the United States Government in connection with Article XI-O bonds; and
(f) Other costs or expenses that the State Treasurer or the Director of the Oregon Department of Administrative Services determines are necessary or desirable in connection with issuing, administering or maintaining Article XI-O bonds.
(5) "State agency" means a state officer, board, commission, corporation, institution, department or other state organization that has officers or employees participating in the Public Employees Retirement System. [Formerly 286.730]
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 286A - State Borrowing › Section 286A.735 - Authority of State Treasurer to issue pension liability bonds; nature and purpose of bonds; refunding bonds.

(1) Article XI-O bonds are a general obligation of the State of Oregon and must contain a direct promise on behalf of the State of Oregon to pay the principal of, the interest on and the premium, if any, on the Article XI-O bonds. The State of Oregon shall pledge its full faith and credit and taxing power to pay Article XI-O bonds; however, the ad valorem taxing power of the State of Oregon may not be pledged to pay Article XI-O bonds.
(2) The State Treasurer may issue Article XI-O bonds:
(a) To finance all or a portion of the state’s pension liabilities for retirement, health care or disability benefits, in an amount that produces net proceeds that do not exceed the State Treasurer’s estimate of those liabilities based on information provided to the State Treasurer by the Public Employees Retirement System, plus an amount determined by the State Treasurer to pay estimated bond-related costs. If Article XI-O bonds are issued for a purpose described in this paragraph, the Director of the Oregon Department of Administrative Services shall allocate the bond-related costs of those Article XI-O bonds among affected state agencies based on their payroll costs and shall bill those state agencies for an appropriate share of the bond-related costs on a monthly or other periodic basis. A state agency receiving a bill under this paragraph shall pay the amounts billed from the first moneys legally available to the state agency after paying the costs incurred for obligations under ORS 283.085 to 283.092.
(b) To refund Article XI-O bonds. The amount of Article XI-O bonds issued under this paragraph may not exceed the estimated costs of paying, redeeming or defeasing the refunded bonds, plus an amount determined by the State Treasurer to pay estimated bond-related costs. If Article XI-O bonds are issued under this paragraph, the Director of the Oregon Department of Administrative Services shall bill a state agency that was responsible for payment of the refunded bonds for an appropriate share of the bond-related costs on a monthly or other periodic basis. A state agency receiving a bill under this paragraph shall pay the amounts billed from the first moneys legally available to the state agency after paying the costs incurred for obligations under ORS 283.085 to 283.092.
(3) The net proceeds of Article XI-O bonds issued to finance all or a portion the state’s pension liabilities for retirement, health care or disability benefits must be transferred to the Public Employees Retirement Board for deposit in the Public Employees Retirement Fund established under ORS 238.660. [Formerly 286.735]
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 286A - State Borrowing › Section 286A.740 - Article XI-O Bond Fund; purposes.

(1) The Article XI-O Bond Fund is established in the State Treasury, separate and distinct from the General Fund. Interest earned on the bond fund must be credited to the bond fund. Amounts credited to the bond fund are continuously appropriated to the Oregon Department of Administrative Services for the purpose of paying, when due, the principal of, the interest on and the premium, if any, on outstanding Article XI-O bonds. The Oregon Department of Administrative Services shall credit to the bond fund:
(a) Capitalized or accrued interest on Article XI-O bonds;
(b) Amounts appropriated or otherwise provided by the Legislative Assembly for deposit in the bond fund;
(c) Reserves established for the payment of Article XI-O bonds; and
(d) Amounts received in payment of a bill for bond-related costs in amounts and at times so that sufficient moneys are available in the bond fund to pay the principal of, the interest on and the premium, if any, on Article XI-O bonds when due.
(2) The department may create separate accounts in the bond fund for reserves and debt service for each series of Article XI-O bonds. [Formerly 286.740]
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 286A - State Borrowing › Section 286A.745 - Article XI-O Bond Administration Fund; purposes.

(1) The Article XI-O Bond Administration Fund is established in the State Treasury, separate and distinct from the General Fund. Interest earned on the bond administration fund must be credited to the bond administration fund. Amounts credited to the bond administration fund are continuously appropriated to the Oregon Department of Administrative Services for payment of bond-related costs. The department shall credit to the bond administration fund:
(a) Proceeds of Article XI-O bonds that were issued to pay bond-related costs that are not credited to the bond fund;
(b) Amounts appropriated or otherwise provided by the Legislative Assembly for deposit in the bond administration fund; and
(c) Amounts received in payment of a bill for bond-related costs that are not credited to the bond fund.
(2) The department may create separate accounts in the bond administration fund. [Formerly 286.745]
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 286A - State Borrowing › Section 286A.750 - Terms and conditions of pension liability bonds.

(1) In accordance with the applicable provisions of this chapter, the State Treasurer, after consulting with the Director of the Oregon Department of Administrative Services, may issue Article XI-O bonds from time to time for the purposes described in ORS 286A.735 (2).
(2) Article XI-O bonds may be issued and sold as provided in this chapter.
(3) Subject to the approval of the State Treasurer, the Director of the Oregon Department of Administrative Services may:
(a) Enter into agreements with a trustee or escrow agent regarding the use and application of the amounts held in the Article XI-O Bond Fund or the Article XI-O Bond Administration Fund; and
(b) Transfer amounts credited to the bond fund or the bond administration fund to a trustee or escrow agent. [Formerly 286.750]
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 286A - State Borrowing › Section 286A.760 - Definitions for ORS 286A.760 to 286A.772.

As used in ORS 286A.760 to 286A.772, unless the context requires otherwise:
(1) "Article XI-M bonds" means general obligation bonds or other general obligation indebtedness issued or incurred under the authority of Article XI-M of the Oregon Constitution.
(2) "Bond administration fund" means the Article XI-M Bond Administration Fund established under ORS 286A.766.
(3) "Bond fund" means the Article XI-M Bond Fund established under ORS 286A.764.
(4) "Bond-related costs" means:
(a) The costs of paying the principal of, the interest on and the premium, if any, on Article XI-M bonds;
(b) The costs and expenses of issuing, administering and maintaining Article XI-M bonds including, but not limited to, redeeming Article XI-M bonds and paying amounts due in connection with bond insurance, other credit enhancements or the administrative costs and expenses of the State Treasurer and the Oregon Department of Administrative Services, including costs of consultants or advisers retained by the State Treasurer or the department for the purpose of issuing, administering or maintaining Article XI-M bonds;
(c) Capitalized interest on Article XI-M bonds;
(d) Costs of funding reserves for Article XI-M bonds, including costs of surety bonds and similar instruments;
(e) Rebates or penalties due the United States Government in connection with Article XI-M bonds; and
(f) Other costs or expenses that the Director of the Oregon Department of Administrative Services determines are necessary or desirable in connection with issuing, administering or maintaining Article XI-M bonds.
(5) "Plan and implement seismic rehabilitation" includes:
(a) Surveying and conducting engineering evaluations of the need for seismic rehabilitation; and
(b) Paying costs of personnel, advisors, equipment, supplies and services that are reasonably necessary to develop and carry out the seismic rehabilitation grant program described in ORS 401.910.
(6) "Seismic fund" means the Education Seismic Fund established under ORS 286A.768.
(7) "State share of costs" means total costs minus contributions from applicants as required by the Oregon Business Development Department. [Formerly 286.760; 2013 c.782 §4; 2016 c.55 §1]
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 286A - State Borrowing › Section 286A.762 - Authority of State Treasurer to issue bonds.

(1) Article XI-M bonds are a general obligation of the State of Oregon and must contain a direct promise on behalf of the State of Oregon to pay the principal of, the interest on and the premium, if any, on the Article XI-M bonds. The State of Oregon shall pledge its full faith and credit and taxing power to pay Article XI-M bonds, except that the ad valorem taxing power of the State of Oregon may not be pledged to pay Article XI-M bonds.
(2) The State Treasurer, with the concurrence of the Director of the Oregon Business Development Department, may issue Article XI-M bonds as provided in this chapter, subject to the limit on bond issuance established for the particular biennium pursuant to ORS 286A.035 and at the request of the Director of the Oregon Department of Administrative Services, for the purpose of financing all or a portion of the state share of costs to plan and implement seismic rehabilitation of public education buildings in the amount of the state share of costs, plus an amount determined by the State Treasurer to pay estimated bond-related costs.
(3) The State Treasurer shall transfer the net proceeds of Article XI-M bonds issued for the purpose described in subsection (2)(a) of this section to the Oregon Business Development Department for deposit in the Education Seismic Fund established under ORS 286A.768. [Formerly 286.762; 2013 c.782 §5; 2017 c.9 §19]
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 286A - State Borrowing › Section 286A.764 - Article XI-M Bond Fund; purposes.

(1) The Article XI-M Bond Fund is established in the State Treasury, separate and distinct from the General Fund. Amounts in the bond fund may be invested as provided in ORS 293.701 to 293.857, and interest earned on the bond fund must be credited to the bond fund. Amounts credited to the bond fund are continuously appropriated to the Oregon Department of Administrative Services for the purpose of paying, when due, the principal of, the interest on and the premium, if any, on outstanding Article XI-M bonds. The department shall deposit in the bond fund:
(a) Capitalized or accrued interest on Article XI-M bonds;
(b) Amounts appropriated or otherwise provided by the Legislative Assembly for deposit in the bond fund; and
(c) Reserves established for the payment of Article XI-M bonds.
(2) The department may create separate accounts in the bond fund for reserves and debt service for each series of Article XI-M bonds. [Formerly 286.764]
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 286A - State Borrowing › Section 286A.766 - Article XI-M Bond Administration Fund; purposes.

(1) The Article XI-M Bond Administration Fund is established in the State Treasury, separate and distinct from the General Fund. Amounts in the bond administration fund may be invested as provided in ORS 293.701 to 293.857, and interest earned on the bond administration fund must be credited to the bond administration fund. Amounts credited to the bond administration fund are continuously appropriated to the Oregon Department of Administrative Services for payment of bond-related costs. The department shall credit to the bond administration fund:
(a) Proceeds of Article XI-M bonds that were issued to pay bond-related costs;
(b) Amounts appropriated or otherwise provided by the Legislative Assembly for deposit in the bond administration fund; and
(c) Amounts transferred from the Education Seismic Fund by the Oregon Business Development Department as provided in ORS 286A.768.
(2) The Oregon Department of Administrative Services may create separate accounts in the bond administration fund. [Formerly 286.766; 2013 c.782 §6]
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 286A - State Borrowing › Section 286A.768 - Education Seismic Fund; purposes; rules.

(1) The Education Seismic Fund is established in the State Treasury, separate and distinct from the General Fund. Amounts in the seismic fund may be invested as provided in ORS 293.701 to 293.857, and interest earned on the seismic fund must be credited to the seismic fund. Amounts credited to the seismic fund are continuously appropriated to the Oregon Business Development Department for the purpose described in ORS 286A.762 (2) and for the purpose of paying bond-related costs. The department shall deposit in the seismic fund:
(a) The net proceeds of Article XI-M bonds transferred pursuant to ORS 286A.762 (3);
(b) Amounts appropriated or otherwise provided by the Legislative Assembly for deposit in the seismic fund;
(c) Gifts, grants or contributions received by the department for the purpose described in ORS 286A.762 (2); and
(d) Moneys received as repayment of, as a return on or in exchange for the grant or loan of net proceeds of Article XI-M bonds.
(2) The department may create separate accounts in the seismic fund as appropriate for the management of moneys in the seismic fund.
(3) The department and any other state agency or other entity receiving or holding net proceeds of Article XI-M bonds shall, at the direction of the Oregon Department of Administrative Services, take action necessary to maintain the excludability of interest on Article XI-M bonds from gross income under the Internal Revenue Code.
(4) The department shall transfer to the Article XI-M Bond Administration Fund the unexpended and uncommitted amounts remaining in the seismic fund if:
(a) Unexpended funds that are not contractually committed to a particular purpose remain in the seismic fund on the last day of the biennium; and
(b) Article XI-M bonds will be outstanding in the next biennium.
(5) The department may adopt rules to carry out this section including, but not limited to, establishing:
(a) Required contributions from applicants;
(b) Fees;
(c) Standards, terms and conditions under which moneys in the seismic fund may be granted, loaned or otherwise made available; and
(d) Procedures for distributing and monitoring the use of moneys from the seismic fund. [Formerly 286.768; 2013 c.782 §7]
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 286A - State Borrowing › Section 286A.772 - Payment of bond-related costs.

For each biennium in which Article XI-M bonds will be outstanding, the Oregon Department of Administrative Services shall include in the Governor’s budget an amount that, when added to the amount on deposit in the Article XI-M Bond Fund and the Article XI-M Bond Administration Fund, is sufficient to pay the bond-related costs that are scheduled to come due in the biennium. [Formerly 286.772; 2016 c.117 §49]
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 286A - State Borrowing › Section 286A.780 - Definitions for ORS 286A.780 to 286A.792.

As used in ORS 286A.780 to 286A.792, unless the context requires otherwise:
(1) "Article XI-N bonds" means general obligation bonds or other general obligation indebtedness issued or incurred under the authority of Article XI-N of the Oregon Constitution.
(2) "Bond administration fund" means the Article XI-N Bond Administration Fund established under ORS 286A.786.
(3) "Bond fund" means the Article XI-N Bond Fund established under ORS 286A.784.
(4) "Bond-related costs" means:
(a) The costs of paying the principal of, the interest on and the premium, if any, on Article XI-N bonds;
(b) The costs and expenses of issuing, administering and maintaining Article XI-N bonds including, but not limited to, redeeming Article XI-N bonds and paying amounts due in connection with bond insurance, other credit enhancements or the administrative costs and expenses of the State Treasurer and the Oregon Department of Administrative Services, including costs of consultants or advisers retained by the State Treasurer or the department for the purpose of issuing, administering or maintaining Article XI-N bonds;
(c) Capitalized interest on Article XI-N bonds;
(d) Costs of funding reserves for Article XI-N bonds, including costs of surety bonds and similar instruments;
(e) Rebates or penalties due the United States Government in connection with Article XI-N bonds; and
(f) Other costs or expenses that the Director of the Oregon Department of Administrative Services determines are necessary or desirable in connection with issuing, administering or maintaining Article XI-N bonds.
(5) "Plan and implement seismic rehabilitation" includes:
(a) Surveying and conducting engineering evaluations of the need for seismic rehabilitation; and
(b) Paying costs of personnel, advisors, equipment, supplies and services that are reasonably necessary to develop and carry out the seismic rehabilitation grant program described in ORS 401.910.
(6) "Seismic fund" means the Emergency Services Seismic Fund established under ORS 286A.788.
(7) "State share of costs" means total costs minus contributions from applicants as required by the Oregon Business Development Department. [Formerly 286.780; 2013 c.782 §8; 2016 c.55 §2]
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 286A - State Borrowing › Section 286A.782 - Authority of State Treasurer to issue bonds.

(1) Article XI-N bonds are a general obligation of the State of Oregon and must contain a direct promise on behalf of the State of Oregon to pay the principal of, the interest on and the premium, if any, on the Article XI-N bonds. The State of Oregon shall pledge its full faith and credit and taxing power to pay Article XI-N bonds, except that the ad valorem taxing power of the State of Oregon may not be pledged to pay Article XI-N bonds.
(2) The State Treasurer, with the concurrence of the Director of the Oregon Business Development Department, may issue Article XI-N bonds as provided in this chapter, subject to the limit on bond issuance established for the particular biennium pursuant to ORS 286A.035 and at the request of the Director of the Oregon Department of Administrative Services, for the purpose of financing all or a portion of the state share of costs to plan and implement seismic rehabilitation of emergency services buildings in the amount of the state share of costs, plus an amount determined by the State Treasurer to pay estimated bond-related costs.
(3) The State Treasurer shall transfer the net proceeds of Article XI-N bonds issued for the purpose described in subsection (2) of this section to the Oregon Business Development Department for deposit in the Emergency Services Seismic Fund established under ORS 286A.788. [Formerly 286.782; 2013 c.782 §9; 2017 c.9 §20]
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 286A - State Borrowing › Section 286A.784 - Article XI-N Bond Fund; purposes.

(1) The Article XI-N Bond Fund is established in the State Treasury, separate and distinct from the General Fund. Amounts in the bond fund may be invested as provided in ORS 293.701 to 293.857, and interest earned on the bond fund must be credited to the bond fund. Amounts credited to the bond fund are continuously appropriated to the Oregon Department of Administrative Services for the purpose of paying, when due, the principal of, the interest on and the premium, if any, on outstanding Article XI-N bonds. The department shall deposit in the bond fund:
(a) Capitalized or accrued interest on Article XI-N bonds;
(b) Amounts appropriated or otherwise provided by the Legislative Assembly for deposit in the bond fund; and
(c) Reserves established for the payment of Article XI-N bonds.
(2) The department may create separate accounts in the bond fund for reserves and debt service for each series of Article XI-N bonds. [Formerly 286.784]
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 286A - State Borrowing › Section 286A.786 - Article XI-N Bond Administration Fund; purposes.

(1) The Article XI-N Bond Administration Fund is established in the State Treasury, separate and distinct from the General Fund. Amounts in the bond administration fund may be invested as provided in ORS 293.701 to 293.857, and interest earned on the bond administration fund must be credited to the bond administration fund. Amounts credited to the bond administration fund are continuously appropriated to the Oregon Department of Administrative Services for payment of bond-related costs. The department shall credit to the bond administration fund:
(a) Proceeds of Article XI-N bonds that were issued to pay bond-related costs;
(b) Amounts appropriated or otherwise provided by the Legislative Assembly for deposit in the bond administration fund; and
(c) Amounts transferred from the Emergency Services Seismic Fund by the Oregon Business Development Department as provided in ORS 286A.788.
(2) The Oregon Department of Administrative Services may create separate accounts in the bond administration fund. [Formerly 286.786; 2013 c.782 §10]