reglab/statecodes huggingface dataset:
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 286A - State Borrowing › Section 286A.788 - Emergency Services Seismic Fund; purposes; rules; fees.

(1) The Emergency Services 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.782 (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-N bonds transferred pursuant to ORS 286A.782 (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.782 (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-N bonds.
(2) The Oregon Business Development Department may create separate accounts in the seismic fund as appropriate for the management of moneys in the seismic fund.
(3) The Oregon Business Development Department and any other state agency or other entity receiving or holding net proceeds of Article XI-N bonds shall, at the direction of the Oregon Department of Administrative Services, take action necessary to maintain the excludability of interest on Article XI-N bonds from gross income under the Internal Revenue Code.
(4) The Oregon Business Development Department shall transfer to the Article XI-N 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-N bonds will be outstanding in the next biennium.
(5) The Oregon Business Development 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 286.788; 2013 c.782 §11]
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 286A - State Borrowing › Section 286A.792 - Payment of bond-related costs.

For each biennium in which Article XI-N 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-N Bond Fund and the Article XI-N Bond Administration Fund, is sufficient to pay the bond-related costs that are scheduled to come due in the biennium. [Formerly 286.792; 2016 c.117 §50]
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 286A - State Borrowing › Section 286A.796 - Definitions for ORS 286A.796 to 286A.806.

As used in ORS 286A.796 to 286A.806:
(1) "Article XI-P bonds" means general obligation bonds issued under the authority of Article XI-P 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-P bonds.
(b) The costs and expenses of issuing, administering and maintaining Article XI-P bonds including, but not limited to, the costs and expenses of:
(A) Redeeming Article XI-P bonds.
(B) Paying amounts due in connection with credit enhancement devices or agreements for exchange of interest rates.
(C) Paying the fees, administrative costs and expenses of the State Treasurer, the Oregon Department of Administrative Services and the Department of Education, including the costs of consultants or advisors retained by the State Treasurer, the Oregon Department of Administrative Services or the Department of Education for the Article XI-P bonds.
(c) The costs of funding reserves for the Article XI-P bonds.
(d) Capitalized interest for the Article XI-P bonds.
(e) Rebates or penalties due to the United States in connection with the Article XI-P bonds.
(f) Any other costs or expenses that the State Treasurer, the Oregon Department of Administrative Services or the Department of Education determines are necessary or desirable in connection with issuing and maintaining the Article XI-P bonds.
(3) "Capital costs" means costs of land and of other assets having a useful life of more than one year, including costs associated with acquisition, construction, improvement, remodeling, furnishing, equipping, maintenance or repair. [2011 c.699 §1]
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 286A - State Borrowing › Section 286A.798 - Authority of State Treasurer to issue bonds.

(1) In accordance with the applicable provisions of ORS chapter 286A, the State Treasurer, with the concurrence of the Superintendent of Public Instruction, may issue Article XI-P bonds:
(a) At the request of the Director of the Oregon Department of Administrative Services for the purposes specified in Article XI-P of the Oregon Constitution, plus an amount determined by the State Treasurer to pay estimated bond-related costs; and
(b) Subject to the budget authorization for bond issuance established under ORS 286A.035 for the Department of Education for the biennium.
(2) The State Treasurer may issue Article XI-P bonds for the purpose of refunding Article XI-P bonds.
(3) The net proceeds of Article XI-P bonds must be deposited in the School Capital Matching Fund established under ORS 286A.806 as described in section 4, Article XI-P of the Oregon Constitution.
(4) If at any time the superintendent determines that the net proceeds of Article XI-P bonds deposited in the School Capital Matching Fund pursuant to subsection (3) of this section exceed the amount necessary for the purposes described in subsection (1)(a) of this section and the budget authorization, the superintendent, in consultation with the Oregon Department of Administrative Services, may transfer the excess amount to the Article XI-P Bond Fund established under ORS 286A.802 or the Article XI-P Bond Administration Fund established under ORS 286A.804.
(5) Article XI-P 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-P bonds. The State of Oregon shall pledge its full faith and credit and taxing power to the payment of the principal of, the interest on and the premium, if any, on Article XI-P bonds, except that the ad valorem taxing power of the State of Oregon may not be pledged to pay Article XI-P bonds. [2011 c.699 §2; 2017 c.9 §21]
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 286A - State Borrowing › Section 286A.800 - School capital matching bond program; rules.

(1) The State Board of Education shall establish by rule a program to provide school districts with matching fund grants or loans for the capital costs of school districts financed with the net proceeds of Article XI-P bonds issued under ORS 286A.796 to 286A.806. The state board shall establish, by rule, ratios for matching local moneys with grants, and ratios for matching local moneys with loans.
(2) The Department of Education, subject to rules adopted by the state board:
(a) May provide matching funds only to a school district that has received voter approval for local general obligation bonds to finance capital costs.
(b) May not provide financing through grants or loans to finance operating costs of school districts. [2011 c.699 §3]
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 286A - State Borrowing › Section 286A.802 - Article XI-P Bond Fund; purposes.

(1) The Article XI-P Bond Fund is established in the State Treasury, separate and distinct from the General Fund. Amounts in the Article XI-P 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-P bonds. The department shall deposit in the bond fund:
(a) Capitalized or accrued interest on Article XI-P 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-P bonds; and
(d) Amounts transferred from the School Capital Matching Fund established under ORS 286A.806 as described in section 4, Article XI-P of the Oregon Constitution.
(2) At the request of the department, the State Treasurer may create separate accounts in the bond fund for reserves and debt service for each series of Article XI-P bonds as provided in ORS 286A.025 (2)(g). [2011 c.699 §4; 2017 c.9 §6]
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 286A - State Borrowing › Section 286A.804 - Article XI-P Bond Administration Fund; purposes.

(1) The Article XI-P Bond Administration Fund is established in the State Treasury, separate and distinct from the General Fund. Amounts in the Article XI-P 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-P 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 School Capital Matching Fund established under ORS 286A.806 as described in section 4, Article XI-P of the Oregon Constitution.
(2) At the request of the department, the State Treasurer may create separate accounts in the bond administration fund as provided in ORS 286A.025 (2)(g). [2011 c.699 §5; 2017 c.9 §7]
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 286A - State Borrowing › Section 286A.806 - School Capital Matching Fund; purposes.

Pursuant to section 4, Article XI-P of the Oregon Constitution, the School Capital Matching Fund is established in the State Treasury, separate and distinct from the General Fund. Amounts in the School Capital Matching Fund may be invested as provided in ORS 286A.025 (2)(g), and interest earned on moneys in the fund must be credited to the fund. The School Capital Matching Fund consists of net proceeds of Article XI-P bonds issued under ORS 286A.796 to 286A.806, moneys from the repayment of loans by school districts and other moneys made available by the Legislative Assembly for purposes described in ORS 286A.798 (1) and the budget authorization for bond issuance established under ORS 286A.035 for the Department of Education. Moneys in the fund are continuously appropriated to the Department of Education for the purposes described in ORS 286A.798 (1) and the budget authorization. [2011 c.699 §6; 2013 c.722 §38]
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 286A - State Borrowing › Section 286A.808 - Oregon School Capital Improvement Matching Account; purposes.

(1) Pursuant to Article XI-P, section 4, of the Oregon Constitution, the Oregon School Capital Improvement Matching Account is established in the State Treasury, separate and distinct from the General Fund.
(2) Amounts in the Oregon School Capital Improvement Matching Account may be invested as provided in ORS 286A.025 (2)(g), and interest earned on moneys in the account must be credited to the account.
(3) Notwithstanding ORS 286A.806, the Oregon School Capital Improvement Matching Account consists of net proceeds of Article XI-P bonds and other moneys made available by the Legislative Assembly for purposes described in ORS 286A.798 (1) and the budget authorization for bond issuance established under ORS 286A.035 for the Department of Education.
(4) Moneys in the Oregon School Capital Improvement Matching Account are continuously appropriated to the Department of Education for the purposes described in ORS 286A.801. [2015 c.783 §4]
Note:
286A.808 was enacted into law by the Legislative Assembly but was 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.810 - LEED certification of school projects financed with Article XI-P bonds.

(1) As used in this section:
(a) "Green Globes program" means a building guidance and assessment program to advance overall environmental performance and sustainability of commercial buildings established by the Green Building Initiative.
(b) "LEED" means the Leadership in Energy and Environmental Design rating system for certification of energy efficient and environmentally sustainable buildings established by the United States Green Building Council.
(c) "LEED Silver" means the second of four tiers of standards for certification in the LEED rating system.
(d) "Two globes" means the second of four tiers of ratings for certification in the Green Globes program rating system.
(2) If general obligation bonds are issued under Article XI-P of the Oregon Constitution, and proceeds from the bonds are used for the construction, improvement, remodel, equipment, maintenance or repair of a building of a school district, the building of the school district that is constructed, improved, remodeled, equipped, maintained or repaired must qualify for, at a minimum:
(a) LEED Silver certification;
(b) A two globes rating from the Green Globes program; or
(c) An equivalent numeric rating from a nationally recognized, accepted and appropriate sustainable development rating system as determined by the State Department of Energy. [2011 c.467 §8]
Note:
286A.810 was enacted into law by the Legislative Assembly but was 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.816 - Definitions for ORS 286A.816 to 286A.826.

As used in ORS 286A.816 to 286A.826:
(1) "Article XI-Q bonds" means general obligation bonds issued under the authority of Article XI-Q 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-Q bonds.
(b) The costs and expenses of issuing, administering and maintaining Article XI-Q bonds including, but not limited to, the costs and expenses of:
(A) Redeeming Article XI-Q bonds.
(B) Paying amounts due in connection with credit enhancement devices or agreements for exchange of interest rates.
(C) Paying the fees, administrative costs and expenses of the State Treasurer, the Oregon Department of Administrative Services or the project agency, including the costs of consultants or advisers retained by the State Treasurer, the department or the project agency.
(c) The costs of funding reserves for the Article XI-Q bonds.
(d) Capitalized interest for the Article XI-Q bonds.
(e) Rebates or penalties due to the United States in connection with the Article XI-Q bonds.
(f) Any other costs or expenses that the State Treasurer, the department or the project agency determines are necessary or desirable in connection with issuing and maintaining the Article XI-Q bonds.
(3) "Project agency" means a state agency that administers a project that is financed with Article XI-Q bond proceeds. [2011 c.14 §2]
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 286A - State Borrowing › Section 286A.818 - Authority of State Treasurer to issue bonds.

(1) In accordance with the applicable provisions of this chapter, the State Treasurer, at the request of the Director of the Oregon Department of Administrative Services, may issue Article XI-Q bonds:
(a) For any of the purposes specified in Article XI-Q of the Oregon Constitution, plus an amount determined by the State Treasurer to pay estimated bond-related costs; and
(b) Subject to the budget authorization for Article XI-Q bond issuance established under ORS 286A.035 for the biennium.
(2) The State Treasurer may issue Article XI-Q bonds for the purpose of:
(a) Refunding Article XI-Q bonds.
(b) Subject to subsection (3) of this section, refinancing borrowings issued before December 2, 2010, to finance or refinance costs described in section 1 (1), Article XI-Q of the Oregon Constitution.
(c) Paying bond-related costs.
(3) When Article XI-Q bonds are issued to refinance borrowings issued before December 2, 2010, the maturity date of the Article XI-Q bonds may not be later than the maturity date of the refinanced borrowings.
(4) The State Treasurer shall deposit the net proceeds of Article XI-Q bonds issued in one or more project funds established in the State Treasury or with a third party approved by the State Treasurer. Net proceeds must be expended in accordance with procedures established by the Oregon Department of Administrative Services for the purposes described in each project agency’s budget authorization.
(5) If at any time the Oregon Department of Administrative Services and the project agency determine that the net proceeds of Article XI-Q bonds deposited in a project fund pursuant to subsection (4) of this section exceed the amount necessary for the purpose described in the project agency’s budget authorization, the department may allocate and transfer the excess amount as determined by the department to other project funds, the Article XI-Q Bond Fund established under ORS 286A.820 or the Article XI-Q Bond Administration Fund established under ORS 286A.822.
(6) Article XI-Q 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-Q bonds. The State of Oregon shall pledge its full faith and credit and taxing power to the payment of the principal of, the interest on and the premium, if any, on Article XI-Q bonds, except that the ad valorem taxing power of the State of Oregon may not be pledged to pay Article XI-Q bonds. [2011 c.14 §3]
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 286A - State Borrowing › Section 286A.820 - Article XI-Q Bond Fund; purposes.

(1) The Article XI-Q Bond Fund is established in the State Treasury, separate and distinct from the General Fund. Amounts in the Article XI-Q 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-Q bonds. The department shall deposit in the bond fund:
(a) Capitalized or accrued interest on Article XI-Q 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-Q bonds;
(d) Amounts transferred from a project fund as provided in ORS 286A.818 (5); and
(e) Amounts paid by a project agency under ORS 286A.824.
(2) At the request of the department, the State Treasurer may create separate accounts in the bond fund for reserves and debt service for each series of Article XI-Q bonds as provided in ORS 286A.025 (2)(g). [2011 c.14 §4]
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 286A - State Borrowing › Section 286A.822 - Article XI-Q Bond Administration Fund; purposes.

(1) The Article XI-Q Bond Administration Fund is established in the State Treasury, separate and distinct from the General Fund. Amounts in the Article XI-Q 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-Q 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;
(c) Amounts transferred from a project fund as provided in ORS 286A.818 (5); and
(d) Amounts paid by a project agency under ORS 286A.824.
(2) At the request of the department, the State Treasurer may create separate accounts in the bond administration fund as provided in ORS 286A.025 (2)(g). [2011 c.14 §5]
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 286A - State Borrowing › Section 286A.824 - Article XI-Q bond program; rules.

(1) The Oregon Department of Administrative Services shall adopt procedures under which a project agency may request:
(a) Financing for real or personal property projects that may be financed with Article XI-Q bond proceeds; or
(b) Refinancing of borrowings issued before December 2, 2010, that financed or refinanced real or personal property projects that would have been eligible for financing under Article XI-Q. The department may periodically bill any project agency for an appropriate share of the bond-related costs of the bonds issued to finance the agency’s projects or refinance the agency’s bonds. The department may bill at such intervals as are established in the department’s procedures and shall deposit amounts paid by project agencies in the Article XI-Q Bond Fund or the Article XI-Q Bond Administration Fund as the department determines is appropriate. A project agency that receives a bill for bond-related costs shall pay the amount billed by the time and in the manner designated in the billing statement from amounts budgeted under ORS 286A.826 or, if necessary, from any other amounts lawfully available for expenditure by the project agency for that purpose.
(2) The State Treasurer may authorize a project agency or the department to act as a related agency under this chapter if necessary or desirable for the issuance or administration of Article XI-Q bonds, including, without limitation, entering into contracts or covenants as provided in ORS 286A.025. However, a project agency may not request the State Treasurer to issue Article XI-Q bonds.
(3) If Article XI-Q bonds are issued to refinance bonds issued before December 2, 2010, and the bond-related costs of the refinanced bonds were paid by state agencies under ORS 283.091, under one of the programs described in ORS 291.445 (7) or under a revenue bond program of this state, the state agency whose bonds are refinanced may pay the amounts billed under subsection (1) of this section from the sources of funds previously used by the agency to pay the refinanced bonds or from any other funds lawfully available for payment of the Article XI-Q bonds.
(4) A project agency that receives or holds proceeds of Article XI-Q bonds shall, at the direction of the department, take action necessary to obtain and maintain:
(a) The excludability of interest on Article XI-Q bonds from gross income under the Internal Revenue Code; or
(b) A federal interest subsidy payment or any other tax-advantaged status granted under the Internal Revenue Code for the Article XI-Q bonds. [2011 c.14 §6]
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 286A - State Borrowing › Section 286A.826 - Budgeting for Article XI-Q project costs.

A project agency shall request that the Governor include in the Governor’s budget for each biennium amounts that are sufficient to pay:
(1) The costs of a project financed or to be financed by the issuance of Article XI-Q bonds during the biennium;
(2) Amounts billed during the biennium by the Oregon Department of Administrative Services under ORS 286A.824; and
(3) The bond-related costs associated with the projects financed or to be financed with Article XI-Q bonds. [2011 c.14 §7; 2016 c.117 §51]
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 286A - State Borrowing › Section 286A.833 - Authority of State Treasurer to issue Article XI-F(1) bonds.

(1) In accordance with the applicable provisions of this chapter, the State Treasurer, with the concurrence of the Higher Education Coordinating Commission, may issue Article XI-F(1) bonds for the benefit of a public university if:
(a) The Director of the Oregon Department of Administrative Services requests that bonds be issued for the purposes specified in Article XI-F(1) of the Oregon Constitution, plus an amount determined by the State Treasurer to pay estimated bond-related costs;
(b) The issuance does not exceed the budget authorization for bond issuance established under ORS 286A.035; and
(c) A loan agreement is executed under ORS 286A.836 prior to sale of the bonds.
(2) The State Treasurer may issue Article XI-F(1) bonds for the purpose of refunding Article XI-F(1) bonds, with the concurrence of a public university that received proceeds of Article XI-F(1) bonds to be refunded.
(3) The State Treasurer shall deposit the net proceeds of Article XI-F(1) bonds in one or more project funds established in the State Treasury or with a third party under contract with the Oregon Department of Administrative Services and approved by the State Treasurer. Net proceeds of Article XI-F(1) bonds must be expended for the purposes described in the commission’s budget authorization.
(4) If at any time the department and the commission jointly determine that the net proceeds of Article XI-F(1) bonds deposited in a project fund pursuant to subsection (3) of this section exceed the cost of the project described in the commission’s budget authorization, the department may allocate and transfer the excess amount as determined by the department to other project funds, the Article XI-F(1) Bond Fund established under ORS 286A.839 or the Article XI-F(1) Bond Administration Fund established under ORS 286A.842. Before transferring an excess amount under this subsection, the department shall consult with the public university for whose benefit the Article XI-F(1) bonds were issued, but the department may transfer an excess amount without the approval of the public university. Excess amounts may not be transferred to a project fund for the project of another public university unless the applicable loan agreements and loan repayment schedules are amended to reflect the transfer.
(5) Article XI-F(1) bonds are direct general obligations 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-F(1) bonds. The State of Oregon shall pledge its full faith and credit and taxing power to the payment of the principal of, the interest on and the premium, if any, on Article XI-F(1) bonds, and the ad valorem taxing power of the State of Oregon may be pledged to pay Article XI-F(1) bonds. [2015 c.828 §3; 2017 c.570 §7]
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 286A - State Borrowing › Section 286A.836 - Loan agreements for Article XI-F(1) bonds.

Prior to the sale of any Article XI-F(1) bonds, except for refunding bonds, a public university and the Higher Education Coordinating Commission shall enter into a loan agreement that includes:
(1) A representation by the public university that it has revenue sufficiency for the Article XI-F(1) bonds;
(2) A loan repayment schedule and a covenant of the public university to make all required loan repayment schedule payments to the commission prior to the date any bond debt service payments are due on the Article XI-F(1) bonds that financed the loan;
(3) Terms and conditions obligating the public university to maintain any federal tax benefits related to the Article XI-F(1) bonds and to execute and deliver any required tax certificates or agreements in connection with any federal tax benefits related to the Article XI-F(1) bonds; and
(4) Terms and conditions indemnifying the State of Oregon against regulatory or bondholder liability due to the action or inaction of the public university related to the Article XI-F(1) bonds. [2015 c.828 §4; 2016 c.66 §10]
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 286A - State Borrowing › Section 286A.839 - Article XI-F(1) Bond Fund; purposes.

(1) The Article XI-F(1) Bond Fund is established in the State Treasury, separate and distinct from the General Fund, or with a third party under contract with the Oregon Department of Administrative Services and approved by the State Treasurer. Moneys in the Article XI-F(1) Bond Fund may be invested as provided in ORS 286A.025 and 293.701 to 293.857, and interest earned on the fund must be credited to the fund. Moneys credited to the Article XI-F(1) Bond Fund are continuously appropriated to the department for the purpose of paying, when due, the principal of, the interest on and the premium, if any, on outstanding Article XI-F(1) bonds. The department shall deposit in the fund:
(a) Capitalized or accrued interest on Article XI-F(1) bonds;
(b) Moneys, if any, appropriated or otherwise provided by the Legislative Assembly for deposit in the fund;
(c) Reserves, if any, established for the payment of Article XI-F(1) bonds;
(d) Moneys transferred from a project fund under ORS 286A.833 (4);
(e) Moneys received as payment under a loan agreement or the schedule provided under ORS 352.415;
(f) Moneys received from ad valorem taxes levied pursuant to ORS 291.445; and
(g) Moneys provided by the Legislative Assembly in lieu of ad valorem taxes levied pursuant to ORS 291.445.
(2) The department shall credit any interest earnings in the fund on amounts paid by a public university pursuant to a loan agreement or the schedule provided under ORS 352.415 that exceed the amount needed to repay outstanding Article XI-F(1) bonds issued for the benefit of the public university against the payment obligations of the public university under a loan agreement or the schedule provided under ORS 352.415.
(3) At the request of the department, the State Treasurer may create or cause to be created separate accounts in the fund for reserves and debt service for each series of Article XI-F(1) bonds. [2015 c.828 §5]
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 286A - State Borrowing › Section 286A.842 - Article XI-F(1) Bond Administration Fund; purposes.

(1) The Article XI-F(1) Bond Administration Fund is established in the State Treasury, separate and distinct from the General Fund, or with a third party under contract with the Oregon Department of Administrative Services and approved by the State Treasurer. Moneys in the Article XI-F(1) Bond Administration Fund may be invested as provided in ORS 286A.025 and 293.701 to 293.857, and interest earned on the fund must be credited to the fund. Moneys credited to the Article XI-F(1) Bond Administration Fund are continuously appropriated to the department for payment of bond-related costs. The department shall credit to the fund:
(a) Proceeds of Article XI-F(1) bonds that were issued to pay bond-related costs; and
(b) Moneys appropriated or otherwise provided by the Legislative Assembly for deposit in the fund.
(2) At the request of the department, the State Treasurer may create or cause to be created separate accounts in the Article XI-F(1) Bond Administration Fund. [2015 c.828 §6]
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 286A - State Borrowing › Section 286A.845 - Budgeting for Article XI-F(1) bonds.

The Higher Education Coordinating Commission shall request that the Governor include in the Governor’s budget request to the Legislative Assembly for each biennium amounts that are sufficient to pay:
(1) The costs of loan agreement disbursements during the biennium to public universities for the costs of projects to be financed by the issuance of Article XI-F(1) bonds;
(2) The debt service due during the biennium for any Article XI-F(1) bonds that have been or will be issued;
(3) Amounts billed during the biennium by the Oregon Department of Administrative Services, or the commission, under ORS 286A.863 (2); and
(4) Any bond-related costs associated with any Article XI-F(1) bonds. [2015 c.828 §7]
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 286A - State Borrowing › Section 286A.848 - Authority of State Treasurer to issue Article XI-G bonds.

(1) In accordance with the applicable provisions of this chapter, the State Treasurer, with the concurrence of the Higher Education Coordinating Commission, may issue Article XI-G bonds for the benefit of a public university or a community college if:
(a) The Director of the Oregon Department of Administrative Services requests that bonds be issued for the purposes specified in Article XI-G of the Oregon Constitution, plus an amount determined by the State Treasurer to pay estimated bond-related costs;
(b) The issuance does not exceed the budget authorization for bond issuance established under ORS 286A.035; and
(c) A grant contract is executed under ORS 286A.851 prior to sale of the bonds.
(2) The State Treasurer may issue Article XI-G bonds for the purpose of refunding Article XI-G bonds without a request from the director when the State Treasurer determines it is in the best interests of the State of Oregon to refund Article XI-G bonds.
(3) The State Treasurer shall deposit the net proceeds of Article XI-G bonds in one or more project funds established in the State Treasury or with a third party under contract with the Oregon Department of Administrative Services and approved by the State Treasurer. Net proceeds of Article XI-G bonds must be expended for the purposes described in the commission’s budget authorization.
(4) If at any time the department and the commission jointly determine that the net proceeds of Article XI-G bonds deposited in a project fund pursuant to subsection (3) of this section exceed the cost of the project described in the commission’s budget authorization, the department may allocate and transfer the excess amount as determined by the department to other project funds, the Article XI-G Bond Fund established under ORS 286A.854 or the Article XI-G Bond Administration Fund established under ORS 286A.857.
(5) Article XI-G bonds are direct general obligations 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-G bonds. The State of Oregon shall pledge its full faith and credit and taxing power to the payment of the principal of, the interest on and the premium, if any, on Article XI-G bonds, and the ad valorem taxing power of the State of Oregon may be pledged to pay Article XI-G bonds. [2015 c.828 §8; 2017 c.9 §10]
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 286A - State Borrowing › Section 286A.851 - Grant contracts for Article XI-G bonds.

(1) Prior to the sale of any Article XI-G bonds, except for refunding bonds, a public university or a community college and the Higher Education Coordinating Commission must enter into a grant contract.
(2) The grant contract must include:
(a) A certification that the requirement for a matching amount is satisfied;
(b) Terms and conditions obligating the public university or community college to maintain any federal tax benefit related to the Article XI-G bonds and to execute and deliver any required tax certificates or agreements in connection with any federal tax benefit related to the Article XI-G bonds; and
(c) Terms and conditions indemnifying the State of Oregon against regulatory or bondholder liability due to the action or inaction of the public university or community college related to the Article XI-G bonds.
(3) The grant contract may include:
(a) Reporting and accounting requirements or other conditions necessary or advisable to ensure that moneys are expended for intended purposes;
(b) Terms and conditions that are necessary or advisable to ensure compliance with applicable laws or regulations; and
(c) Provisions for the payment of fees by a community college to cover costs of the commission relating to the execution of the commission’s responsibilities under the grant contract. [2015 c.828 §9; 2016 c.66 §11; 2017 c.9 §11]
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 286A - State Borrowing › Section 286A.854 - Article XI-G Bond Fund; purposes.

(1) The Article XI-G Bond Fund is established in the State Treasury, separate and distinct from the General Fund, or with a third party under contract with the Oregon Department of Administrative Services and approved by the State Treasurer. Moneys in the Article XI-G Bond Fund may be invested as provided in ORS 286A.025 and 293.701 to 293.857, and interest earned on the fund must be credited to the fund. Moneys credited to the Article XI-G Bond Fund are continuously appropriated to the department for the purpose of paying, when due, the principal of, the interest on and the premium, if any, on outstanding Article XI-G bonds. The department shall deposit in the fund:
(a) Capitalized or accrued interest on Article XI-G bonds;
(b) Moneys appropriated or otherwise provided by the Legislative Assembly for deposit in the fund;
(c) Reserves, if any, established for the payment of Article XI-G bonds;
(d) Moneys transferred from a project fund under ORS 286A.848 (4);
(e) Moneys received from ad valorem taxes levied pursuant to ORS 291.445; and
(f) Moneys provided by the Legislative Assembly in lieu of ad valorem taxes levied under ORS 291.445.
(2) At the request of the department, the State Treasurer may create or cause to be created separate accounts in the fund for reserves and debt service for each series of Article XI-G bonds. [2015 c.828 §10]
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 286A - State Borrowing › Section 286A.857 - Article XI-G Bond Administration Fund; purposes.

(1) The Article XI-G Bond Administration Fund is established in the State Treasury, separate and distinct from the General Fund, or with a third party under contract with the Oregon Department of Administrative Services and approved by the State Treasurer. Moneys in the Article XI-G Bond Administration Fund may be invested as provided in ORS 286A.025 and 293.701 to 293.857, and interest earned on the fund must be credited to the fund. Moneys credited to the Article XI-G Bond Administration Fund are continuously appropriated to the department for payment of bond-related costs. The department shall credit to the fund:
(a) Proceeds of Article XI-G bonds that were issued to pay bond-related costs; and
(b) Moneys appropriated or otherwise provided by the Legislative Assembly for deposit in the fund.
(2) At the request of the department, the State Treasurer may create or cause to be created separate accounts in the Article XI-G Bond Administration Fund. [2015 c.828 §11]
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 286A - State Borrowing › Section 286A.860 - Budgeting for Article XI-G bonds.

The Higher Education Coordinating Commission shall request that the Governor include in the Governor’s budget request to the Legislative Assembly for each biennium amounts that are sufficient to pay:
(1) The costs of grant contract disbursements during the biennium for any projects to be financed by the issuance of Article XI-G bonds;
(2) The debt service due during the biennium for any Article XI-G bonds that have been or will be issued;
(3) Amounts billed during the biennium by the Oregon Department of Administrative Services, or the commission, under ORS 286A.863 (2); and
(4) Any bond-related costs associated with any Article XI-G bonds. [2015 c.828 §12]
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 287 - (Former Provisions) › Section 287.034

[1975 c.740 §2; 1977 c.266 §9; 1999 c.44 §18; 2005 c.22 §205; 2007 c.783 §62; renumbered 287A.634 in 2007]
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 287 - (Former Provisions) › Section 287.040

[1977 c.266 §2; 1981 c.94 §19; 1981 c.661 §8; 1991 c.194 §2; 2007 c.783 §63; renumbered 287A.640 in 2007]
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 287A - Local Government Borrowing › Section 287A.010 - Powers conveyed to public bodies.

The powers conveyed to public bodies by ORS 287A.001 to 287A.380 are in addition to any other powers possessed by public bodies and do not limit those other powers. [2007 c.783 §68]
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 287A - Local Government Borrowing › Section 287A.050 - Authority of city to issue general obligation bonds.

(1) Upon approval of the electors of a city, the city may issue general obligation bonds to finance:
(a) Capital construction or capital improvements permitted by Article XI, sections 11 and 11b, of the Oregon Constitution.
(b) Capital costs permitted by Article XI, section 11L, of the Oregon Constitution.
(2) Unless the city charter provides a lesser limitation, a city may not issue or have outstanding at the time of issuance general obligation bonds in a principal amount that exceeds three percent of the real market value of the taxable property within its boundaries, calculated as provided in ORS 308.207.
(3) The limitation described in subsection (2) of this section does not apply to general obligation bonds issued:
(a) To finance the costs of local improvements assessed and paid for in installments under statutory or charter authority.
(b) To finance capital construction or capital improvements permitted by Article XI, sections 11 and 11b, of the Oregon Constitution, or to finance capital costs permitted by Article XI, section 11L, of the Oregon Constitution, for:
(A) Water supply, treatment or distribution;
(B) Sanitary or storm sewage collection or treatment;
(C) Hospitals or infirmaries;
(D) Gas, power or lighting; or
(E) Off-street motor vehicle parking facilities. [2007 c.783 §43; 2013 c.491 §3]
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 287A - Local Government Borrowing › Section 287A.100 - Authority of county to issue general obligation bonds.

(1) Unless the county charter expressly provides otherwise, upon approval of the electors of a county, the county may issue general obligation bonds to finance:
(a) Capital construction or capital improvements permitted by Article XI, sections 11 and 11b, of the Oregon Constitution.
(b) Capital costs permitted by Article XI, section 11L, of the Oregon Constitution.
(2) Unless the county charter provides a lesser limitation, a county may not issue or have outstanding at the time of issuance general obligation bonds in a principal amount that exceeds two percent of the real market value of the taxable property in the county, calculated as provided in ORS 308.207. [2007 c.783 §44; 2013 c.491 §4]
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 287A - Local Government Borrowing › Section 287A.105 - Limitation on bonded indebtedness of county.

(1) A county may incur bonded indebtedness within the meaning of section 10, Article XI of the Oregon Constitution, by issuing revenue bonds when a county is expressly authorized to issue revenue bonds by a law other than this section. The amount of revenue bonds permitted by this section may not exceed the lesser of:
(a) One percent of the real market value of all taxable property in the county, calculated as provided in ORS 308.207; or
(b) A limitation on bonded indebtedness in the county charter.
(2) The limitation on bonded indebtedness in subsection (1) of this section does not apply to revenue bonds issued to finance pension liabilities under ORS 238.692 to 238.698 or any other law in effect prior to enactment of ORS 238.692 to 238.698. [2007 c.783 §45]
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 287A - Local Government Borrowing › Section 287A.140 - Ad valorem tax levy to pay general obligation bonds.

(1) In addition to other taxes imposed, a public body shall levy annually an ad valorem property tax on the taxable property within the boundaries of the public body in an amount that is sufficient, when added to other amounts available, to pay the principal of and interest on outstanding general obligation bonds issued by the public body.
(2) A public body may:
(a) Use the revenues from a levy under this section and earnings on the revenues only to pay the principal of and interest on general obligation bonds.
(b) Not use or divert taxes levied under subsection (1) of this section for another purpose while principal or interest remains unpaid on the bonds.
(c) If a surplus amount remains after the principal of and interest on an issue of general obligation bonds have been paid and the public body does not have other expenses related to the bonds, transfer the surplus moneys to a fund designated by the governing body of the public body.
(3) Revenues from a levy by a public body pursuant to this section and earnings on the revenues are pledged as security for payment of the principal of and interest on general obligation bonds of the public body.
(4) A pledge under this section has the effect of a pledge under ORS 287A.310. [2007 c.783 §67; 2015 c.53 §1]