reglab/statecodes huggingface dataset:
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 285B - Economic Development II › Section 285B.286 - Entrepreneurial and industry development activities.

For traded sector industries, the Oregon Business Development Department shall undertake entrepreneurial and industry development activities that may include, but are not limited to, all of the following:
(1) Focus groups and other meetings and related studies to identify traded sector industry members and issues of common concern within an industry.
(2) State technical and financial support for formation of industry associations, publication of association directories and related efforts to create or expand the activities of industry associations.
(3) Helping establish research consortia as well as partnering with universities and other research institutions to assist in the retention and recruitment of targeted industries.
(4) Joint training and education programs and curricula related to the specific needs of traded sector industries.
(5) Cooperative market and entrepreneurial development activities.
(6) Analysis of the need, feasibility and cost for establishing product certification and testing facilities and services.
(7) State technical and financial support to facilitate certification of sites as ready for development for traded sector industry. The support may include performing site assessments to determine the costs associated with development of individual sites.
(8) Assistance to traded sector and cluster affiliated Oregon businesses and consortia in making investments that advance entrepreneurial and industry-related development activities or other identified competitiveness objectives of existing Oregon cluster businesses.
(9) Assistance and support that promote regional economic development strategies fostering entrepreneurship and the development of targeted industry clusters in rural communities.
(10) Subject to applicable policies and procedures, entering into agreements for grants or other assistance, including but not limited to direct purchase of goods or services related to entrepreneurial and industry development. [Formerly 285.770; 1999 c.509 §20; 2003 c.800 §23; 2009 c.830 §82; 2014 c.3 §1; 2015 c.84 §1]
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 285B - Economic Development II › Section 285B.320 - Purpose of ORS 285B.320 to 285B.371.

It is the purpose of ORS 285B.320 to 285B.371 to authorize the exercise of powers granted by ORS 285B.320 to 285B.371 by this state in addition to and not in lieu of any other powers it may possess. [Formerly 285.310; 1999 c.509 §29; 2001 c.680 §2; 2007 c.804 §72]
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 285B - Economic Development II › Section 285B.323 - Definitions for ORS 285B.320 to 285B.371.

(1) As used in ORS 285B.320 to 285B.371, unless the context requires otherwise:
(a) "Bond" or "revenue bond" means a revenue bond, as defined in ORS 286A.001.
(b) "Capital asset" means real or personal property that the Oregon Business Development Commission expects to be:
(A) Used in connection with a revenue-producing enterprise, an exempt facility or a nonprofit entity; and
(B) Located in Oregon.
(c) "Economic development project" means:
(A) A capital asset.
(B) Research and development conducted in Oregon.
(C) Estimated operating expenses associated with a capital asset.
(d) "Eligible project" means the portion of an economic development project that the commission:
(A) Has found is in compliance with applicable standards of the commission;
(B) Has found will produce substantial benefits in Oregon; and
(C) Has approved for financing with proceeds of bonds authorized under ORS 285B.320 to 285B.371.
(e) "Exempt facility" means any facility described in section 142(a) of the Internal Revenue Code of 1986, as amended and in effect as of July 1, 2011.
(f) "Nonprofit entity" means an institution, organization or other entity exempt from taxation under section 501(c)(3) of the Internal Revenue Code of 1986, as amended and in effect as of July 1, 2011.
(2) Notwithstanding the definition of "exempt facility" in subsection (1) of this section, if section 142(a) of the Internal Revenue Code of 1986 is amended or altered on or after July 1, 2011, the Oregon Business Development Department may adopt by rule a definition of "exempt facility" that is consistent with section 142(a) of the Internal Revenue Code of 1986 as amended or altered.
(3) Notwithstanding the definition of "nonprofit entity" in subsection (1) of this section, if section 501(c)(3) of the Internal Revenue Code of 1986 is amended or altered on or after July 1, 2011, the department may adopt a definition of "nonprofit entity" that is consistent with section 501(c)(3) of the Internal Revenue Code of 1986 as amended or altered. [Formerly 285.315; 1999 c.509 §30; 2001 c.680 §3; 2007 c.804 §§73,90; 2009 c.830 §84; 2011 c.27 §1; 2012 c.59 §1]
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 285B - Economic Development II › Section 285B.326 - Request for issuance of bonds; fees; rules; reimbursement for expenses.

(1) Upon determining that an economic development project is an eligible project, the Oregon Business Development Commission shall request that the State Treasurer issue the bonds.
(2) For bonding purposes, the commission may treat any number of economic development projects determined to be eligible projects as a single eligible project.
(3) The commission shall collect fees set forth in rules established by the Oregon Business Development Department. Moneys collected under this subsection shall be deposited in the Oregon Business, Innovation and Trade Fund created under ORS 285A.227 and are continuously appropriated to the commission for the purpose of administration or funding of the Oregon Industrial Development Revenue Bond and Express Bond Program.
(4)(a) In addition to the fees described in subsection (3) of this section, the commission may charge and receive reimbursement for expenses incurred in:
(A) The initial review of an application for economic development projects sought to be declared eligible for financing; and
(B) Matters arising after the issuance of a bond.
(b) Reimbursement for expenses under this subsection shall be charged and received in accordance with rules established by the department. [Formerly 285.320; 1999 c.509 §31; 2003 c.167 §8; 2007 c.804 §§74,91; 2009 c.830 §85; 2011 c.27 §2]
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 285B - Economic Development II › Section 285B.329 - Review of project by commission; exception.

(1) The state, acting through the State Treasurer, shall not undertake to finance any economic development project pursuant to ORS 285B.320 to 285B.371 before the Oregon Business Development Commission has reviewed the project.
(2) The commission is not required to make the determination and findings described in ORS 285A.055 (1) and (2) if the economic development project involves an exempt facility. [Formerly 285.325; 1999 c.509 §32; 2001 c.680 §4; 2007 c.804 §75; 2009 c.830 §86; 2012 c.59 §2]
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 285B - Economic Development II › Section 285B.338 - Powers of commission.

In carrying out its duties under ORS 285B.320 to 285B.371, the Oregon Business Development Commission acting for and in behalf of the state as its duly authorized agency, may:
(1) Acquire, construct and hold in whole or in part any lands, buildings, easements, water and air rights, improvements to lands and buildings and capital equipment to be located permanently or used exclusively on such lands or in such buildings, which are deemed necessary in connection with an eligible project to be situated within the state, and construct, reconstruct, improve, better and extend such projects, and enter into contracts therefor; and
(2) Sell and convey all properties acquired in connection with eligible projects, including without limitation the sale and conveyance thereof subject to any mortgage and the sale and conveyance thereof under an option granted to the lessee of the eligible project, for such price, and at such time as the state may determine. However, no sale or conveyance of such properties shall ever be made in such manner as to impair the rights of interests of the holder, or holders, or any bonds issued under the authority of ORS 285B.320 to 285B.371. [Formerly 285.340; 1999 c.509 §35; 2009 c.830 §88]
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 285B - Economic Development II › Section 285B.341 - Limitation on state power.

Except as provided in ORS 285B.335 and 285B.338, the state does not have the power to operate any eligible project as a business or in any manner whatsoever, and except as provided in ORS 285B.335 and 285B.338, nothing in ORS 285B.320 to 285B.371 authorizes the state to expend any funds on any eligible project, other than the revenues of such projects, or the proceeds of revenue bonds issued hereunder, or other funds granted to the state for the purposes of an eligible project. For the purpose of exercising the powers and authority granted under ORS 285B.335 or 285B.338, the state and the Oregon Business Development Commission are not subject to the requirements of ORS 279.835 to 279.855 or ORS chapter 279A, 279B or 279C. [Formerly 285.345; 2001 c.680 §6; 2003 c.167 §12; 2003 c.794 §239; 2009 c.830 §89]
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 285B - Economic Development II › Section 285B.344 - Issuance of bonds.

(1) At the request of the Oregon Business Development Department, the State Treasurer may issue under ORS 285B.320 to 285B.371 and ORS chapter 286A bonds secured by revenues from an eligible project or from other financing sources to finance or refinance in whole or part an eligible project and bond-related costs, including capitalized interest. The bonds must be identified by eligible project. Refunding bonds may be issued to refinance the bonds.
(2) The department or the State Treasurer may appoint bond counsel as prescribed under ORS 286A.130.
(3) Any escrow agent, bond registrar, paying agent or trustee, if any, designated to carry out all or part of the powers specified in ORS 285B.335 must agree to furnish financial statements and audit reports for each bond issue. [Formerly 285.350; 1999 c.509 §36; 2001 c.536 §1; 2003 c.167 §13; 2003 c.794 §240; 2007 c.783 §99; 2009 c.830 §90; 2012 c.59 §3]
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 285B - Economic Development II › Section 285B.356 - Refunding bonds.

The State Treasurer shall have the power, whenever the treasurer deems refunding expedient, to refund any bonds by the issuance of new bonds, whether the bonds to be refunded have or have not matured. The refunding bonds may be exchanged for bonds to be refunded and the proceeds applied to the purchase, redemption or payment of such bonds. [Formerly 285.370]
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 285B - Economic Development II › Section 285B.359 - Validity of bonds.

The validity of bonds issued under ORS 285B.320 to 285B.371 shall not be dependent on nor be affected by the validity or regularity of any proceeding relating to the acquisition, purchase, construction, installation, reconstruction, improvement, betterment or extension of the eligible project for which the bonds are issued. The official action authorizing such bonds may provide that the bonds shall contain a recital that they are issued pursuant to ORS 285B.320 to 285B.371 and such recital shall be conclusive evidence of their validity and of the regularity of their issuance. [Formerly 285.375]
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 285B - Economic Development II › Section 285B.365 - Limitations of bonds; recitals.

(1) Revenue bonds issued under ORS 285B.320 to 285B.371:
(a) Shall not be payable from nor charged upon any funds other than the revenue pledged to the payment thereof, nor shall the state be subject to any liability thereon. No holder or holders of such bonds shall ever have the right to compel any exercise of the taxing power of the state to pay any such bonds or the interest thereon, nor to enforce payment thereof against any property of the state except those projects or portions thereof, mortgaged or otherwise encumbered under the provisions and for the purposes of ORS 285B.320 to 285B.371.
(b) Shall not constitute a charge, lien or encumbrance, legal or equitable, upon any property of the state, except those eligible projects, or portions thereof, mortgaged or otherwise encumbered, under the provisions and for the purposes of ORS 285B.320 to 285B.371.
(2) Each bond issued under ORS 285B.320 to 285B.371 shall recite in substance that the bond, including interest thereon, is payable solely from the revenue pledged to the payment thereof. No such bond shall constitute a debt of the state or a lending of the credit of the state within the meaning of any constitutional or statutory limitation. However, nothing in ORS 285B.320 to 285B.371 is intended to impair the rights of holders of bonds to enforce covenants made for the security thereof as provided in ORS 285B.368. [Formerly 285.385; 2003 c.167 §14]
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 285B - Economic Development II › Section 285B.368 - Powers and rights of bondholders.

Subject to any contractual limitation binding upon the holders of any issue of bonds, or any escrow agent, vendor, lender, other financing party or trustee therefor, including but not limited to the restriction of the exercise of any remedy to a specified proportion or percentage of such holders, any holder of bonds, or any trustee therefor, for the equal benefit and protection of all bondholders similarly situated, may:
(1) By action or proceeding for legal or equitable remedies, enforce their rights against the state and any of its officers, agents and employees, and may require and compel the state or any such officers, agents or employees to perform and carry out its and their duties and obligations under ORS 285B.320 to 285B.371 and its and their covenants and agreements with bondholders;
(2) By action require the state to account as if it was the trustee of an express trust;
(3) By action enjoin any acts or things which may be unlawful or in violation of the right of the bondholders;
(4) Bring action upon the bonds;
(5) Foreclose any mortgage or lien given under the authority of ORS 285B.320 to 285B.371 and cause the property standing as security to be sold under any proceedings permitted by law or equity; and
(6) Exercise any right or remedy conferred by ORS 285B.320 to 285B.371 without exhausting and without regard to any other right or remedy conferred by ORS 285B.320 to 285B.371 or any other law of this state, none of which rights and remedies is intended to be exclusive of any other, and each is cumulative and in addition to every other right and remedy. [Formerly 285.390; 1999 c.509 §39]
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 285B - Economic Development II › Section 285B.371 - State interest in eligible projects not necessary for loans; security.

The state, acting through the Oregon Business Development Commission, may loan the proceeds of the bonds authorized by ORS 285B.320 to 285B.371 for eligible projects without the necessity of the state having any ownership or leasehold interest in the eligible projects. Loans made pursuant to this section shall be secured, if at all, to the extent deemed necessary or desirable by the commission. [Formerly 285.393; 1999 c.509 §40; 2007 c.783 §102; 2009 c.830 §92]
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 285B - Economic Development II › Section 285B.413 - Legislative findings; purpose; use of moneys; rules.

(1) The Legislative Assembly finds that:
(a) The improvement, expansion and new construction of the state’s infrastructure systems provide the basic framework for continuing and expanding economic activity in this state, thereby improving the quality of life and economic opportunity for the people of Oregon.
(b) It is essential to maintain usable and developable industrial and commercial lands in Oregon.
(2) Because municipalities in this state often suffer from a lack of available financing and technical capacity for these projects, it is the purpose of ORS 285B.410 to 285B.482 to provide financial or other assistance to enable municipalities to construct, improve and repair those facilities that are essential for supporting continuing and expanded economic activity. It is the intent of the Legislative Assembly, by providing that assistance, to stimulate industrial growth and commercial enterprise and to promote employment opportunities in Oregon.
(3) Moneys in the Special Public Works Fund shall be used primarily to provide loans to municipalities for development and planning projects. Grants shall be given only when loans are not feasible due to the financial need of the municipality or under circumstances that the Oregon Business Development Department specifies by administrative rule. The Oregon Infrastructure Finance Authority is authorized to determine the level of grant or loan funding, if any, on a case-by-case basis. [Formerly 285.703; 2001 c.883 §27a; 2003 c.773 §28; 2005 c.835 §3; 2009 c.830 §94]
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 285B - Economic Development II › Section 285B.419 - Administration of Special Public Works Fund; rules and policies.

(1) The Oregon Business Development Department shall adopt rules and policies for the administration of the Special Public Works Fund. All forms of assistance are subject to the rules and policies of the department.
(2) The Oregon Infrastructure Finance Authority shall manage the Special Public Works Fund and any expenditures from its accounts and transfers between its accounts so that the fund provides a continuing source of financing for development or planning projects consistent with ORS 285B.413.
(3) The authority may commit moneys in the Special Public Works Fund or reserve future income to the fund for disbursal in future years under ORS 285B.440. The authority shall commit or reserve moneys under this subsection only after:
(a) Allowing for contingencies;
(b) Finding that there will be sufficient unobligated net income to the fund to make the future payments, consistent with the financial requirements of subsections (2) and (3) of this section; and
(c) Providing in any contract for the commitment that the liability of the state to make the annual payments shall be contingent on the availability of moneys in the Special Public Works Fund.
(4) In assisting municipalities with projects, the authority shall cooperate to the maximum extent possible with other state and federal agencies. [Formerly 285.707; 1999 c.509 §22; 2001 c.633 §2; 2001 c.883 §29; 2003 c.773 §30; 2005 c.835 §5; 2009 c.830 §95]
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 285B - Economic Development II › Section 285B.420 - Financial assistance for levee projects; required findings.

(1) The Oregon Infrastructure Finance Authority may provide financial assistance in the form of loans or grants for a levee project to:
(a) Drainage districts organized under ORS chapter 547;
(b) Corporations or companies for drainage or flood control organized under ORS chapter 554; and
(c) For-profit or nonprofit entities and individuals engaged in the ownership, construction, inspection, accreditation, certification or repair of levees.
(2) To qualify for financial assistance under this section, the district, corporation, company, entity or individual must demonstrate, and the authority must find, that the levee project substantially contributes to the improvement, expansion or repair of the state’s or a municipality’s infrastructure system and is essential for the use or development of farm, industrial or commercial land in Oregon.
(3) Levee projects that receive financial assistance under this section are subject to the provisions and requirements of ORS 285B.410 to 285B.482, if applicable. [2015 c.667 §3]
Note:
285B.420 was added to and made a part of 285B.410 to 285B.482 by legislative action but was not added to any smaller series therein. See Preface to Oregon Revised Statutes for further explanation.
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 285B - Economic Development II › Section 285B.421 - Levee Project Grant Fund; limits; matching funds; rural and distressed areas.

(1) The Levee Project Grant Fund is established in the State Treasury, separate and distinct from the General Fund. Interest earned by the Levee Project Grant Fund must be credited to the fund. The Levee Project Grant Fund consists of moneys deposited in the fund under section 33, chapter 671, Oregon Laws 2019, and may include moneys appropriated, allocated, deposited or transferred to the fund by the Legislative Assembly or otherwise and interest earned on moneys in the fund.
(2) Moneys in the fund are continuously appropriated to the Oregon Business Development Department for the Oregon Infrastructure Finance Authority to provide grants under ORS 285B.420 for levee projects as defined in ORS 285B.410.
(3) Grants from the fund for planning projects are limited to a maximum of $2 million per applicant per biennium.
(4) Grants from the fund for construction or capital improvement projects may not exceed an amount equal to 80 percent of the total cost of the project.
(5) A grant may not be awarded from the fund unless the applicant pledges matching funds to the project of at least 20 percent of the amount of the grant.
(6) At least 60 percent of the dollar value of grants awarded from the fund in any biennium shall be used to provide assistance with levee projects to rural or distressed areas as those terms are defined in ORS 285A.010. [2019 c.671 §34; 2021 c.654 §1]
Note:
285B.421 was enacted into law by the Legislative Assembly but was not added to or made a part of ORS chapter 285B 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 285B - Economic Development II › Section 285B.422 - Funding to municipalities for development projects; criteria for project funding; prohibited uses.

(1) The Oregon Infrastructure Finance Authority may provide financial or other assistance to a municipality for a development project.
(2) The project must be municipally owned and operated either by the municipality or under a management contract or an operating agreement with the municipality. If the project consists:
(a) Solely of the purchase or acquisition of land by the municipality, the land must be identified in the applicable land use or capital plan as necessary for a potential development project or be zoned solely for commercial or industrial use.
(b) Of a privately owned railroad, the railroad must be designated by the owner and operator as subject to abandonment within three years, pursuant to federal law governing abandonment of common carrier railroad lines.
(c) Of a telecommunications system, the governing body of the municipality shall adopt a resolution, after a public hearing, finding that the proposed telecommunications system project is necessary and would not otherwise be provided by a for-profit entity within a reasonable time and for a reasonable cost.
(3) If the project is an energy system, the municipality and the serving utility must execute an ownership and operating agreement for the proposed energy system. This subsection does not apply when the energy system will be located within the recognized service territory of the municipality.
(4) The authority may not use funds to provide assistance for:
(a) Projects that primarily focus on relocating business or economic activity from one part of the state to another, except in cases where the business or economic activity would otherwise locate outside of Oregon; or
(b) Ongoing operations or maintenance expenses. [1997 c.800 §12; 1999 c.509 §44; 2001 c.883 §30; 2003 c.773 §31; 2005 c.835 §6; 2009 c.11 §33; 2009 c.830 §96]
Note:
285B.422 was added to and made a part of 285B.410 to 285B.482 by legislative action but was not added to any smaller series therein. See Preface to Oregon Revised Statutes for further explanation.
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 285B - Economic Development II › Section 285B.428 - Application for funds; rules.

Any municipality may apply for financial or other assistance from the Special Public Works Fund by submitting a completed application and related information as required by the Oregon Business Development Department by rule. The application shall be filed, reviewed and approved or rejected in accordance with rules adopted by the department. [Formerly 285.710; 2001 c.883 §30b; 2003 c.773 §33; 2005 c.835 §11; 2009 c.830 §98]
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 285B - Economic Development II › Section 285B.437 - Contract with municipality; required provisions; repayment.

(1) If the Oregon Infrastructure Finance Authority approves assistance from the Special Public Works Fund for a project, the authority, on behalf of the state, and the municipality may enter into a contract to implement the assistance. The contract shall include:
(a) A provision that the liability of the state under the contract is contingent upon the availability of moneys in the Special Public Works Fund for use in the project;
(b) If any portion of the assistance is in the form of a loan or the purchase of a bond of a municipality, a provision granting the authority a lien on or a security interest in the collateral as determined by the authority to be necessary to secure repayment of the loan or bond; and
(c) Other provisions as the authority considers necessary or appropriate to implement the assistance.
(2) When the authority approves financial assistance under ORS 285B.410 to 285B.482 for a project, the authority shall pay moneys for the project from the Special Public Works Fund in accordance with the terms of the contract.
(3) Notwithstanding any other provision of law or any restriction on indebtedness contained in a charter, a municipality may borrow from the Special Public Works Fund by entering into a contract with the authority. The contract may be repaid from:
(a) The revenues of the project, including special assessment revenues;
(b) Amounts withheld under ORS 285B.449 (1);
(c) The general fund of the municipality; or
(d) Any other source.
(4) A loan contract authorized under subsection (3) of this section shall be authorized by an ordinance, order or resolution adopted by the governing body of the municipality. [Formerly 285.717; 2001 c.883 §30d; 2003 c.773 §35; 2005 c.835 §12; 2009 c.830 §99]
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 285B - Economic Development II › Section 285B.440 - Primary use of moneys in fund; standards for awarding grants; limitations; rules.

(1)(a) The moneys in the Special Public Works Fund shall be used primarily to provide loans to municipalities for projects as defined in ORS 285B.410 to 285B.482. The Oregon Infrastructure Finance Authority may determine the level of grant or loan funding, if any, on a case-by-case basis.
(b) If the authority approves funding, the authority shall determine a maximum amount of the loan based upon a reasonable and prudent expectation of the ability of the municipality to repay the loan.
(c) The initial loan term may not exceed the usable life of the project or 30 years from the year of project completion, whichever is less. The term of a renegotiated loan may not exceed the remaining usable life of the project or 30 years, whichever is less.
(d) Assistance from the fund for a marine facility project otherwise funded under ORS 777.267 shall be limited to a loan. The loan may not exceed the amount of the required local matching funds.
(2) The Oregon Business Development Department shall by rule adopt standards for awarding grants from the Special Public Works Fund. The standards may include the award of grants as a financial incentive to accomplish the goals of the Special Public Works Fund, to address special circumstances of a project or to address the financial need of the applicant.
(3) The authority may make grants to a municipality not to exceed $1 million per project or 85 percent of the allowable project costs, whichever is less. For purposes of this subsection, allowable project costs do not include capitalized interest, if any.
(4) The authority may not expend more than one percent of the value of the Special Public Works Fund in any biennium for grants or direct assistance, if any, for planning projects and community development projects to municipalities.
(5) Except as otherwise limited by this section, not more than 100 percent of the total cost of a project, including capitalized interest, shall be financed from the Special Public Works Fund. [Formerly 285.720; 2001 c.883 §31a; 2003 c.773 §37; 2005 c.835 §13; 2007 c.804 §33; 2009 c.830 §100; 2011 c.47 §1; 2017 c.398 §1]
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 285B - Economic Development II › Section 285B.449 - Effect of failure to comply or default.

(1) If a municipality fails to comply with a contract entered into under ORS 285B.410 to 285B.482, the Oregon Business Development Department may seek appropriate legal remedies to secure any repayment due the Special Public Works Fund. If any municipality defaults on payments due to the Special Public Works Fund under ORS 285B.410 to 285B.482, the State of Oregon may withhold any amounts otherwise due to the municipality to apply to the indebtedness. The department may waive this right to withhold.
(2) Moneys withheld under subsection (1) of this section shall be deposited in the Special Public Works Fund and shall be used to repay any account in the fund from which funds were expended to pay obligations upon which the municipality defaulted. [Formerly 285.727; 2009 c.830 §101]
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 285B - Economic Development II › Section 285B.456 - Levee Project Subaccount.

(1) The Levee Project Subaccount is established in the Special Public Works Fund established under ORS 285B.455. Interest earned by the Levee Project Subaccount shall be credited to the subaccount. Moneys in the subaccount are continuously appropriated to the Oregon Business Development Department for the purpose of providing financial assistance under ORS 285B.410 to 285B.482 for levee projects, as defined in ORS 285B.410.
(2) The department may accept grants, donations, contributions or gifts from any source for deposit in the Levee Project Subaccount. [2015 c.812 §1b]
Note:
285B.456 was enacted into law by the Legislative Assembly but was not added to or made a part of ORS chapter 285B 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 285B - Economic Development II › Section 285B.458 - Grants for assistance to distressed or rural areas; minimum.

Not less than 60 percent of the grants awarded from the Special Public Works Fund in any biennium shall be used to provide assistance to distressed or rural areas. [Formerly 285.735; 2001 c.883 §32a; 2003 c.773 §42; 2005 c.835 §14]
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 285B - Economic Development II › Section 285B.460 - Funding and assistance for planning projects.

(1) The Oregon Infrastructure Finance Authority may provide financial or other assistance to a municipality for a planning project.
(2) The planning project may be a stand-alone project.
(3) The planning project may include an environmental action on a brownfield. For purposes of this subsection:
(a) "Brownfield" has the meaning given that term in ORS 285A.185.
(b) "Environmental action" has the meaning given that term in ORS 285A.188. [2005 c.835 §8; 2009 c.11 §34; 2009 c.830 §103]
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 285B - Economic Development II › Section 285B.462 - Funding and assistance for emergency projects.

(1) The Oregon Infrastructure Finance Authority may provide financial or other assistance to a municipality for an emergency project. Emergency project grants include grants for essential community facilities, as defined by the Oregon Business Development Department by rule after consultation with the League of Oregon Cities, the Association of Oregon Counties, the Oregon Ports Representation Group and the Special Districts Association of Oregon.
(2) The authority may award grant funding to an emergency project only if federal disaster relief assistance has been committed for the emergency project.
(3) Assistance from the Special Public Works Fund for an emergency project may not exceed the total local matching funds requirement for the federal disaster relief assistance committed to the project. [2005 c.835 §9; 2009 c.11 §35; 2009 c.830 §104; 2017 c.398 §2]
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 285B - Economic Development II › Section 285B.465 - Allowable costs of projects.

For purposes of ORS 285B.410 to 285B.482, the allowable costs of a project include:
(1) Financing costs, including capitalized interest;
(2) Direct project management costs;
(3) Costs of consultant services and expenses;
(4) Construction costs and expenses;
(5) Costs of property acquisition, including any easement or right of way directly related to and necessary for the project;
(6) Costs of acquiring off-site property for purposes directly related to the project, such as wetland mitigation; and
(7) Other costs that the Oregon Infrastructure Finance Authority determines to be necessary or useful. [2005 c.835 §10; 2009 c.830 §105]
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 285B - Economic Development II › Section 285B.467 - Oregon Infrastructure Finance Authority to determine eligibility for revenue bond financing; rules; request for issuance; allowable costs.

(1) The Oregon Infrastructure Finance Authority shall determine eligibility for revenue bond financing under ORS 285B.467 to 285B.479 of development projects that have qualified under ORS 285B.419 to 285B.437 and 285B.449 pursuant to rules adopted by the Oregon Business Development Department.
(2) After a determination is made that a development project is eligible for revenue bond financing under ORS 285B.467 to 285B.479, the department shall forward a request for the issuance of revenue bonds to the State Treasurer, who shall determine whether to issue revenue bonds.
(3) When a project is determined to be eligible for revenue bond financing under ORS 285B.467 to 285B.479, allowable costs as described in ORS 285B.465 may be paid from bond proceeds.
(4) Administrative expenses of the authority in processing applications and investigating proposed projects and bond sales may not be derived from bond proceeds.
(5) The authority may pledge all or any portion of the existing or future assets and receipts of the Special Public Works Fund to pay debt service on bonds issued pursuant to ORS 285B.410 to 285B.482. The pledge shall take effect immediately, without delivery of the pledged funds to third parties, and the lien of the pledge shall be superior to all other liens of any nature.
(6) The authority is authorized to establish separate accounts within the fund for separate bond issues. [Formerly 285.740; 2001 c.883 §34; 2003 c.773 §45; 2005 c.835 §15; 2009 c.830 §106]
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 285B - Economic Development II › Section 285B.470 - Powers of authority.

The Oregon Infrastructure Finance Authority may:
(1) Make all contracts, execute all instruments and do all things necessary or convenient in the exercise of the powers granted by this section, or in the performance of its covenants or duties, or in order to secure the payment of its bonds;
(2) Enter into and perform contracts and agreements with municipalities as the authority may consider proper and feasible for or concerning the planning, construction, installation, lease or other acquisition, and the financing of projects; and
(3) Enter into covenants for the benefit of bond owners regarding the use and expenditure of moneys in the Special Public Works Fund. [Formerly 285.743; 2003 c.773 §46; 2005 c.835 §16; 2007 c.783 §103; 2009 c.830 §107]
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 285B - Economic Development II › Section 285B.473 - Issuance of revenue bonds.

(1) At the request of the Oregon Business Development Department, the State Treasurer may issue under ORS 285B.467 to 285B.479 and ORS chapter 286A revenue bonds secured by moneys paid to the Special Public Works Fund pledged therefor to finance or refinance in whole or part the cost of acquisition, construction, reconstruction, improvement or extension of development projects. Refunding bonds may be issued to refinance the revenue bonds.
(2) The department or the State Treasurer may appoint bond counsel as prescribed in ORS 286A.130. [Formerly 285.745; 2001 c.536 §2; 2003 c.773 §47; 2003 c.794 §241; 2005 c.835 §17; 2007 c.783 §104; 2009 c.830 §108]
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 285B - Economic Development II › Section 285B.476 - Application of law to revenue bonds; proceeds; maximum duration of loans.

(1) ORS 285B.350 to 285B.362 and 285B.368 apply to revenue bonds issued under ORS 285B.467 to 285B.479.
(2) The proceeds of revenue bonds issued and sold under ORS 285B.467 to 285B.479 shall be deposited in the Special Public Works Fund and used for the payment of a loan to a municipality for a development project and costs of issuing the revenue bonds.
(3) A loan made with money derived from the sale of revenue bonds under this section shall be made as other loans under ORS 285B.419 to 285B.437 and 285B.449 are made, except that the loan contract shall set forth a schedule of payments that may not exceed the usable life of the contracted project. [Formerly 285.747; 2003 c.773 §48; 2005 c.835 §18]
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 285B - Economic Development II › Section 285B.479 - Nature of revenue bonds.

(1) Revenue bonds issued under ORS 285B.467 to 285B.479:
(a) May not be payable from nor charged upon any funds other than the revenue pledged to the payment thereof, except as provided in this section, nor shall the state be subject to any liability thereon. No holder or holders of such bonds shall ever have the right to compel any exercise of the taxing power of the state to pay any such bonds or the interest thereon, nor to enforce payment thereof against any property of the state except those moneys pledged therefor in the Special Public Works Fund, under the provisions of ORS 285B.467 to 285B.479.
(b) May not constitute a charge, lien or encumbrance, legal or equitable, upon any property of the state, except those moneys paid to the Special Public Works Fund.
(2) A revenue bond issued under ORS 285B.467 to 285B.479 does not constitute a debt of the State of Oregon or a lending of the credit of this state within the meaning of any constitutional or statutory limitation. [Formerly 285.750; 2001 c.883 §35; 2007 c.783 §105]
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 285B - Economic Development II › Section 285B.500 - Purpose of ORS 285B.500 to 285B.512; legislative findings.

(1) The Legislative Assembly finds that:
(a) It is a matter of statewide importance to increase the infrastructure capacity of Coos, Jackson and Josephine Counties and the rest of southern Oregon.
(b) The absence of such infrastructure capacity, the lack of inexpensive industrial fuel and inadequate transportation facilities restrict national and international trade and otherwise hinder the economic development of the region.
(c) State financial assistance to specified local projects in southern Oregon will sustain and increase jobs, foster national and international trade, allow industrial and commercial expansion and eliminate other negative effects caused by infrastructure that is inadequate to support a vibrant and expanding economy.
(d) It is desirable to make a present commitment of lottery revenues that are expected to be received in the 1999-2001 and 2001-2003 biennia. A clear and prompt financial commitment from the State of Oregon will allow the project sponsors, in reliance on that commitment, to make prompt commitments to pay their share. Prompt commitment by the project sponsors will enhance the likelihood that other private or federal funds will be received for the projects.
(2) The Legislative Assembly declares that the purpose of ORS 285B.500 to 285B.512 and section 9, chapter 644, Oregon Laws 1997, is to obligate the State of Oregon to pay the amounts specified in ORS 285B.500 to 285B.512 and section 9, chapter 644, Oregon Laws 1997, from future lottery revenues. The obligation of the state to pay the amounts specified in section 9, chapter 644, Oregon Laws, 1997, and in grant agreements authorized by ORS 285B.506 is limited to, and conditioned solely on, the availability of unobligated net lottery proceeds and any other moneys lawfully credited to the Oregon Unified International Trade Fund. Neither the faith and credit nor any of the taxing power of the State of Oregon are pledged or otherwise committed by ORS 285B.500 to 285B.515 and 777.277 to 777.287 and section 9, chapter 644, Oregon Laws 1997, and the commitments of the State of Oregon under ORS 285B.500 to 285B.515 and 777.277 to 777.287 and section 9, chapter 644, Oregon Laws 1997, and any grant agreement shall not constitute a debt or liability of the state within the meaning of section 7, Article XI of the Oregon Constitution. [1997 c.644 §7]
Note:
285B.500 to 285B.515 were enacted into law by the Legislative Assembly but were not added to or made a part of ORS chapter 285B by legislative action. See Preface to Oregon Revised Statutes for further explanation.
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 285B - Economic Development II › Section 285B.503 - Oregon Unified International Trade Fund; uses.

(1) There is established in the State Treasury, separate and distinct from the General Fund, the Oregon Unified International Trade Fund. Interest earned by the Oregon Unified International Trade Fund shall be credited to the fund. The moneys in the fund are continuously appropriated to the Oregon Business Development Department for the Oregon Infrastructure Finance Authority for:
(a) Paying all or a portion of the costs of:
(A) A project for the extension and improvement of Jackson County Airport runway.
(B) A project for the extension of a natural gas pipeline to the Coos Bay and North Bend area from a location near Roseburg.
(C) A project for improvements to the Klamath Falls International Airport maintained by the City of Klamath Falls.
(b) Transfer to the Oregon Port Revolving Fund created by ORS 285A.708.
(2) A separate account within the Oregon Unified International Trade Fund shall be established for each project listed in subsection (1) of this section.
(3) The Oregon Unified International Trade Fund shall consist of moneys allocated to the fund under section 9, chapter 644, Oregon Laws 1997, and such other moneys as may be appropriated to the fund by the Legislative Assembly, including interest on such moneys. [1997 c.644 §8; 2009 c.830 §110]
Note:
See note under 285B.500.
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 285B - Economic Development II › Section 285B.509 - Agreements between primary sponsor and United States.

The primary sponsors of projects listed in ORS 285B.503 are authorized to enter into agreements with agencies of the United States for the project and, notwithstanding any other provision of law, may each agree to be bound by any requirement imposed by an Act of the United States Congress as a condition of federal participation in the project. [1997 c.644 §11]
Note:
See note under 285B.500.
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 285B - Economic Development II › Section 285B.512 - End of lottery allocations upon certification by administrator of authority.

(1) The deposit of unobligated net lottery proceeds to an account in the Oregon Unified International Trade Fund shall cease if and when the administrator of the Oregon Infrastructure Finance Authority certifies in writing that deposits are no longer required because:
(a) Sufficient funds are on hand in the account to pay all amounts required to be paid under the grant agreement;
(b) All amounts required to be paid under the grant agreement have been paid; or
(c) The primary sponsor has notified the administrator pursuant to the grant agreement that the primary sponsor is unable to undertake the project.
(2) Upon receipt of the administrator’s written certification pursuant to subsection (1) of this section, the State Treasurer shall thereafter credit any amounts remaining in the account that are not required to pay amounts due under the grant agreement, and any lottery revenues that otherwise would have been deposited in the account under section 9, chapter 644, Oregon Laws 1997, to the Administrative Services Economic Development Fund. In addition, any unexpended grant funds and earnings which are remitted to the State of Oregon pursuant to the grant agreement shall be credited to the Administrative Services Economic Development Fund. [1997 c.644 §12; 2009 c.830 §112]
Note:
See note under 285B.500.
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 285B - Economic Development II › Section 285B.515 - "Primary sponsor" and "project sponsor" defined.

As used in ORS 285B.500 to 285B.512 and section 9, chapter 644, Oregon Laws 1997, "primary sponsor" or "project sponsor" means a city, county, agency or person who acts as a financial contributor to a project listed in ORS 285B.503, as determined by the Oregon Infrastructure Finance Authority in a grant agreement under ORS 285B.506. [1997 c.644 §13; 2009 c.830 §113]
Note:
See note under 285B.500.
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 285B - Economic Development II › Section 285B.530 - Definitions for ORS 285B.530 to 285B.548.

As used in ORS 285B.530 to 285B.548, unless the context requires otherwise:
(1) "Infrastructure lottery bonds" means the bonds authorized to be issued under ORS 285B.533 for the purpose of financing infrastructure projects.
(2) "Infrastructure projects" includes:
(a) A water project defined in ORS 285B.560; and
(b) Payment of any state financial obligations to the federal government under the Safe Drinking Water Act. [1997 c.800 §16; 1999 c.44 §24]
Note:
285B.530 to 285B.548 were enacted into law by the Legislative Assembly but were not added to or made a part of ORS chapter 285B by legislative action. See Preface to Oregon Revised Statutes for further explanation.