reglab/statecodes huggingface dataset:
Oregon Administrative Rules › Chapter 170 - OREGON STATE TREASURY › Division 2 - ADMINISTRATION AND PROCUREMENT › Section 170-002-0110 - Procurement Policy and Approach

Current through Register Vol. 63, No. 7, July 1, 2024
(1)
			 The Attorney General's model rules do not apply to the Treasurer. The Treasurer
			 will consider the Attorney General's model rules for guidance when exercising
			 Contract and Procurement discretion, particularly with respect to Procurements
			 of Goods and Services subject to ORS Chapter 279B. The Procurement Officer will
			 review this division of the Treasurer's administrative rules each time the
			 Attorney General modifies its model rules to determine whether to modify this
			 division to comply with statutory or other changes.
(2) The Treasurer will contract with an
			 outside party when it is not feasible to use personnel or resources within the
			 agency because the specialized skills, knowledge or resources to perform are
			 not available within the Treasurer's office; services cannot be performed in a
			 reasonable time by the Treasurer's staff; it is less expensive to contract with
			 a third party; or an independent and impartial evaluation of a situation by
			 recognized professionals is required. Contracts will be awarded only after
			 approval of the Treasurer or designee.
(3) The Treasurer's policy is to continuously
			 improve Procurement practices to reflect the marketplace while promoting public
			 confidence by demonstrating ethical behavior, fair dealing, honesty, and good
			 faith. Further, it is the Treasurer's policy to encourage competition in the
			 marketplace, unless it is not practicable to achieve the public policy goals
			 for banking, borrowing, and investing.
(4) The Treasurer will evaluate Offers based
			 on performance factors and other aspects of service quality, as well as
			 pricing, in selecting the Offer most advantageous to the state. Awards will be
			 made to the most responsive Responsible Offeror(s) based on the best overall
			 value, and not solely on lowest cost.
(5) The Treasurer may provide any part of or
			 all of an education or training program that meets the standards established by
			 the Treasurer, or may approve any part of all of an education or training
			 program provided by the Department of Administrative Services or other provider
			 that meets the standards and requirements established by the Treasurer under
			 ORS 279A.159(3) and
			 this rule.
Statutory/Other Authority: ORS
				  279A.065
Statutes/Other Implemented: ORS
				  279A.065, ORS
				  279A.050(5)
				  & ORS 279A.159(3)
Oregon Administrative Rules › Chapter 170 - OREGON STATE TREASURY › Division 2 - ADMINISTRATION AND PROCUREMENT › Section 170-002-0115 - Procurement Method

Current through Register Vol. 63, No. 7, July 1, 2024
(1) For any
			 Contract estimated to cost $50,000 or less, the Treasurer may allow a
			 preference for, or limit competition to, contracting entities owned or
			 controlled by disadvantaged persons described in ORS
			 279A.100(1).
(2) The Treasurer may participate in,
			 sponsor, conduct, or administer cooperative procurements as described in ORS
			 279A.200 through
			 279A.225; provided, however, the
			 Treasurer may conduct and administer cooperative procurements only for programs
			 under the authority of the Treasurer and for public entities that are not
			 subject to the exclusive authority of the Department of Administrative Services
			 under ORS 279A.050(7).
(3) OAR 170-002-0120  through OAR 170-002-0140  apply to the Procurement of Goods and Services.
(4) OAR 170-002-0145  applies to Procurements
			 for goods, services and Contracts that are Exempt, unless otherwise provided in
			 OAR 170-061-0300.
(5) OAR
			 170-002-0150  through OAR 170-002-0170  apply to all Procurements conducted by
			 the Treasurer.
Statutory/Other Authority: ORS
				  279A.065
Statutes/Other Implemented: ORS
				  279A.025(2)(p),
				  ORS 279A.100, ORS
				  279A.050(5)
				  & ORS 279A.065
Oregon Administrative Rules › Chapter 170 - OREGON STATE TREASURY › Division 2 - ADMINISTRATION AND PROCUREMENT › Section 170-002-0120 - Small Procurements

Current through Register Vol. 63, No. 7, July 1, 2024
(1)
			 Generally. For Procurements less than or equal to $25,000, the Treasurer may
			 award a Contract as a small procurement under ORS
			 279B.065.
(2) Amendments. The Treasurer may amend a
			 Contract awarded as a small procurement. However, cumulative amendments to one
			 Contract may not increase the total Contract price to greater than one hundred
			 twenty-five percent (125%) of the dollar amount stated in ORS
			 279B.065.
Statutory/Other Authority: ORS
				  279A.065
Statutes/Other Implemented: ORS
				  279B.065 &
				  279A.050(5)
Oregon Administrative Rules › Chapter 170 - OREGON STATE TREASURY › Division 2 - ADMINISTRATION AND PROCUREMENT › Section 170-002-0125 - Intermediate Procurements

Current through Register Vol. 63, No. 7, July 1, 2024
(1)
			 Generally. For procurements of Goods or Services greater than $25,000 and less
			 than $250,000, the Treasurer may award a Contract as an intermediate
			 procurement pursuant to ORS
			 279B.070.
(2) Negotiations. The Treasurer may negotiate
			 with a prospective Contractor who responds to an intermediate procurement to
			 clarify its Offer or to effect modifications that will make the Offer more
			 advantageous to the Treasurer.
(3)
			 Amendments. The Treasurer may amend a Contract awarded as an intermediate
			 procurement. However, cumulative amendments to one Contract may not increase
			 the total Contract price to a sum that exceeds the higher dollar amount stated
			 in ORS 279B.070 or one hundred
			 twenty-five percent (125%) of the original Contract price, whichever is
			 greater.
Statutory/Other Authority: ORS
				  279A.065
Statutes/Other Implemented: ORS
				  279B.070 & ORS
				  279A.050(5)
Oregon Administrative Rules › Chapter 170 - OREGON STATE TREASURY › Division 2 - ADMINISTRATION AND PROCUREMENT › Section 170-002-0130 - Sole-source Procurements

Current through Register Vol. 63, No. 7, July 1, 2024
(1)
			 Generally, the Treasurer may award a Contract for Goods and Services without
			 competition as a sole-source procurement pursuant to the requirements of ORS
			 279B.075.
(2) Public Notice. If, but for the
			 determination that the Treasurer may enter into a Contract as a sole-source,
			 the Treasurer would be required to select a Contractor using the selection
			 methods set forth in either ORS
			 279B.055 or
			 279B.060, the Treasurer will
			 give public notice that the Goods or Services or class of Goods or Services are
			 available from only one source. The Treasurer shall publish such notice in a
			 manner similar to the public notice of competitive sealed bids under
			 279B.055(4). The public notice must describe the Goods or Services to be
			 acquired by a sole-source procurement, identify the prospective Contractor and
			 include the date, time and place that protests are due. The Treasurer will
			 provide at least seven (7) days from the date of such notice to protest the
			 sole-source determination.
Statutory/Other Authority: ORS
				  279A.065
Statutes/Other Implemented: ORS
				  279B.075 & ORS
				  279A.050(5)
Oregon Administrative Rules › Chapter 170 - OREGON STATE TREASURY › Division 2 - ADMINISTRATION AND PROCUREMENT › Section 170-002-0135 - Emergency Procurements

Current through Register Vol. 63, No. 7, July 1, 2024
The Treasurer may award a Contract as an emergency procurement
				pursuant to the requirements of ORS
				279B.080. The Treasurer will
				competitively procure Goods and Services in an emergency using a process that
				is reasonable and appropriate under the circumstances.
Statutory/Other Authority: ORS
				  279A.065
Statutes/Other Implemented: ORS
				  279B.080 & ORS
				  279A.050(5)
Oregon Administrative Rules › Chapter 170 - OREGON STATE TREASURY › Division 2 - ADMINISTRATION AND PROCUREMENT › Section 170-002-0140 - Special Procurements

Current through Register Vol. 63, No. 7, July 1, 2024
(1)
			 Generally. The Treasurer may award a Contract as a special procurement pursuant
			 to the requirements of ORS
			 279B.085.
(2) Public Notice. The Treasurer will give
			 public notice in the same manner as public notice under ORS
			 279B.055(4).
			 The public notice will describe the Goods or Services or class of Goods or
			 Services to be acquired through the special procurement. The Treasurer must
			 provide at least seven (7) days from the date of the notice for affected
			 persons to protest the special procurement.
Statutory/Other Authority: ORS
				  279A.065
Statutes/Other Implemented: ORS
				  279B.085 & ORS
				  279A.050(5)
Oregon Administrative Rules › Chapter 170 - OREGON STATE TREASURY › Division 2 - ADMINISTRATION AND PROCUREMENT › Section 170-002-0145 - Discretionary Exempt Procurements

Current through Register Vol. 63, No. 7, July 1, 2024
When a Procurement conducted by the Treasurer is Exempt, the
				Treasurer will generally follow the requirements and procedures set forth in
				ORS chapter 279B. However, the Treasurer may employ other processes that the
				Treasurer deems practical or convenient, including direct selection and
				negotiation, as the Treasurer determines are necessary or desirable to achieve
				the state's financial management public policy goals.
Statutory/Other Authority: ORS
				  279A.065
Statutes/Other Implemented: ORS
				  279A.025(2)(p)
				  & ORS 279A.050(5)
Oregon Administrative Rules › Chapter 170 - OREGON STATE TREASURY › Division 2 - ADMINISTRATION AND PROCUREMENT › Section 170-002-0150 - Offers

Current through Register Vol. 63, No. 7, July 1, 2024
(1) An Offer
			 submitted in response to a competitive Procurement is irrevocable, valid and
			 binding on the Offeror for not less than 30 days after the Closing unless
			 otherwise specified in the Solicitation Document, or the Offer is modified or
			 withdrawn as allowed under these rules. The Treasurer may elect to accept an
			 Offer at any time after Closing and prior to the Award date, if any, specified
			 in a Procurement. The Treasurer's Award constitutes acceptance of the Offer and
			 binds the Offeror to enter into a Contract on the terms that are at least as
			 favorable to the Treasurer as those set forth in the Offer.
(2) Following the Closing, the Treasurer may
			 negotiate any Contract terms or conditions with any Offeror if the Treasurer
			 determines that negotiation is in the Treasurer's best interests. The Treasurer
			 may include the parameters of any permitted negotiations in its Procurement.
			 Offerors are obligated to negotiate in good faith on those terms or conditions
			 that the Treasurer or the Solicitation Document have reserved for
			 negotiation.
(3) Contingent Offers.
			 Except to the extent the Offeror is authorized to propose certain terms and
			 conditions under a Solicitation Document, an Offeror may not make its Offer
			 contingent upon the Treasurer's acceptance of any terms or conditions
			 (including specifications) other than those contained in the Solicitation
			 Document.
(4) Offeror's
			 Acknowledgment. By signing and submitting its Offer, the Offeror acknowledges
			 it has read and understands the terms and conditions contained in the
			 Solicitation Document and that it accepts and agrees to be bound by the terms
			 and conditions of the Solicitation Document.
Statutory/Other Authority: ORS
				  279A.065
Statutes/Other Implemented: ORS
				  279A.065, ORS
				  279B.055 & ORS
				  279B.60
Oregon Administrative Rules › Chapter 170 - OREGON STATE TREASURY › Division 2 - ADMINISTRATION AND PROCUREMENT › Section 170-002-0155 - Electronic Procurements

Current through Register Vol. 63, No. 7, July 1, 2024
(1) The
			 Treasurer may conduct all phases of a Procurement, including providing public
			 notice and receiving Offers, by electronic methods as provided in a
			 Solicitation Document, or any other written instructions on how to
			 participate.
(2) Any Offeror
			 electronically submitting an Offer to the Treasurer agrees to conduct business
			 with the Treasurer electronically. All communication about the Procurement will
			 be done through the Treasurer's electronic procurement system.
(3) The Treasurer will use and accept
			 electronic signatures. The use of electronic signatures must be consistent with
			 applicable statutes and rules. If an Offeror or Contractor resides in a
			 country, territory, or jurisdiction that does not recognize electronic
			 signatures, the Treasurer will not use or accept electronic
			 signatures.
(4) Offerors must
			 register with the Treasurer's electronic procurement system before submitting
			 electronic Offers. The Offeror must agree to the terms, conditions, or other
			 requirements of the Solicitation Document or other requirements governing the
			 Procurement process.
(5) The
			 Offeror must submit an electronic Offer on or before the Closing date and time
			 identified in the Solicitation Document. The date and time stamp assigned by
			 the Treasurer's electronic procurement system determines whether an electronic
			 Offer is submitted timely. The opening and closing time of all Procurements is
			 Pacific Time, whether Pacific Daylight Time, or Pacific Standard
			 Time.
(6) If the Treasurer's
			 electronic procurement system does not allow one or more Offerors to submit
			 electronic Offers, the Treasurer may cancel or extend the Procurement. The
			 Treasurer will provide notice to potential Offerors of the cancellation or
			 extension through the electronic procurement system once the system becomes
			 available.
Statutory/Other Authority: ORS
				  279A.065
Statutes/Other Implemented: ORS
				  279A.065 & ORS chapter
				  84
Oregon Administrative Rules › Chapter 170 - OREGON STATE TREASURY › Division 2 - ADMINISTRATION AND PROCUREMENT › Section 170-002-0160 - Offer Preparation

Current through Register Vol. 63, No. 7, July 1, 2024
Any Offeror submitting an Offer must sign the Offer, and
				include any information, forms or other documents required by the Solicitation
				Document. An Offeror must sign any correction or erasure in its Offer prior to
				the Closing date and time as permitted by the Solicitation
				Document.
Statutory/Other Authority: ORS
				  279A.065
Statutes/Other Implemented: ORS
				  279A.065
Oregon Administrative Rules › Chapter 170 - OREGON STATE TREASURY › Division 2 - ADMINISTRATION AND PROCUREMENT › Section 170-002-0165 - Late Offers, Late Withdrawals, Late Modifications

Current through Register Vol. 63, No. 7, July 1, 2024
The Treasurer will not consider late Offers, late withdrawals
				or late modifications of an Offer received after the Closing date and time,
				unless otherwise provided in these rules or the Solicitation
				Document.
Statutory/Other Authority: ORS
				  279A.065
Statutes/Other Implemented: ORS
				  279A.065
Oregon Administrative Rules › Chapter 170 - OREGON STATE TREASURY › Division 2 - ADMINISTRATION AND PROCUREMENT › Section 170-002-0170 - Mistakes

Current through Register Vol. 63, No. 7, July 1, 2024
(1) An Offeror may
			 not correct or withdraw an Offer for an error in judgment. If the Treasurer
			 finds mistakes in an Offer after opening, but before Contract Award, the
			 Treasurer may take the following action:
(a)
			 Waive, or permit an Offeror to correct, a minor informality, such as:
(A) Submit the correct number of signed
			 Offers, or correct the number of other documents required under the
			 Solicitation Document.
(B) Sign the
			 Offer in the designated block, or electronically, evidencing the intent to be
			 bound.
(C) Acknowledge receipt of
			 an addendum to the Solicitation Document.
Oregon Administrative Rules › Chapter 170 - OREGON STATE TREASURY › Division 2 - ADMINISTRATION AND PROCUREMENT › Section 170-002-0175 - Cancellation, rejection, delay of invitations for bids or requests for proposals

Current through Register Vol. 63, No. 7, July 1, 2024
(1) Any
			 Procurement may be canceled, or any or all bids or proposals may be rejected in
			 whole or in part, when the cancellation or rejection is in the Treasurer's best
			 interest. The reasons for the cancellation or rejection must be made part of
			 the Procurement file. The Treasurer is not liable to any Offeror for any loss
			 or expense caused by or resulting from the cancellation or rejection of
			 Procurement, bid, proposal or Award.
(2) Any Procurement may be delayed or
			 suspended when the delay or suspension is in the Treasurer's best interest. The
			 Treasurer is not liable to any Offeror for any loss or expense caused by or
			 resulting from the delay or suspension of Procurement or Award.
(3) The Treasurer may at any time before
			 Contract execution withdraw an Award if the Treasurer determines that it is in
			 the Treasurer's best interest to do so. The Treasurer will document in its file
			 related to the Award the reasons for the withdrawal. The Treasurer is not
			 liable to any Offeror for any loss or expense resulting from an Award
			 withdrawal.
(4) The Treasurer may,
			 at any time after a Procurement cancellation or following Award withdrawal
			 conduct a new Procurement with the same or revised terms, conditions, and
			 specifications as used in the cancelled Procurement.
Statutory/Other Authority: ORS
				  279A.065
Statutes/Other Implemented: ORS
				  279A.065
Oregon Administrative Rules › Chapter 170 - OREGON STATE TREASURY › Division 2 - ADMINISTRATION AND PROCUREMENT › Section 170-002-0300 - Protest Filing and Judicial Review

Current through Register Vol. 63, No. 7, July 1, 2024
(1) This rule applies to both Exempt
			 Procurements and Contracts, and Procurements and Contracts for Goods and
			 Services.
(2) Before seeking
			 judicial review, an affected person must file a written protest with the
			 Treasurer. An affected person may file a protest in the manner described in ORS
			 279B.400,
			 279B.405, and
			 279B.410.
(3) The affected person must file their
			 protest within 10 days of the Treasurer's action that gives rise to the right
			 to file a protest.
(4) The
			 Treasurer will make findings and issue its determination within 60 days of
			 receiving the protest.
(5) If the
			 protester disagrees with the Treasurer's decision, the protester may file
			 judicial review of a protest decision by the Treasurer in the manner described
			 in ORS 279B.415 and ORS
			 279B.420.
Statutory/Other Authority: ORS
				  279A.065
Statutes/Other Implemented: ORS
				  279B.400, ORS
				  279B.405, ORS
				  279B.410, ORS
				  279B.415, ORS
				  279B.420 & ORS
				  279A.065
Oregon Administrative Rules › Chapter 170 - OREGON STATE TREASURY › Division 40 - PUBLIC FUNDS COLLATERALIZATION RULES › Section 170-040-0020 - Expenses of Administration Paid by Depositories

Current through Register Vol. 63, No. 7, July 1, 2024
For the services, duties and activities of the Office of the
				State Treasurer (OST) performed under ORS Chapter 295, the OST shall charge
				depositories for the costs incurred by the OST based on a fixed fee plus a pro
				rata share of the remaining costs according to the amount of public funds
				deposits held by a depository. Each depository shall pay any fee amounts owed
				to OST by the time and in accord with the terms set forth in an invoice
				received from OST. If the invoice amount exceeds $200, payment shall be made by
				electronic funds transfer (EFT) in the manner and to the account designated by
				OST in its invoice. If, for some reason, a depository is unable to make payment
				by EFT and chooses to remit by check, a penalty, not to exceed five (5) percent
				of the amount of the payment with a maximum penalty of $50, may be assessed to
				the depository.
Stat. Auth.: ORS
				  293.525 &
				  295.106
Stats. Implemented: ORS
				  293.525 &
				  295.106
Oregon Administrative Rules › Chapter 170 - OREGON STATE TREASURY › Division 40 - PUBLIC FUNDS COLLATERALIZATION RULES › Section 170-040-0030 - Approval of Loan Repayment Obligations Pledged by Depositories

Current through Register Vol. 63, No. 7, July 1, 2024
(1) Loan repayment
			 obligations owed by a county, city, school district, port district or other
			 public body in the State of Oregon may be pledged by a depository as collateral
			 only after the depository has received written approval from the Office of the
			 State Treasurer (OST). However, the OST will not accept requests for and
			 approve such loans as collateral, unless and until written notice is provided
			 to depositories that, from a date designated in the notice, OST will begin to
			 accept such requests and evaluate the acceptability of such loans as
			 collateral. In the event OST approves such loans as collateral, the loans will
			 be valued at seventy-five percent of their outstanding principal amount for
			 purposes of calculating whether adequate collateral has been pledged by a
			 depository with its custodian, as required under ORS Chapter 295.
(2) After receipt of the notice described
			 above, the depository shall submit a written request to the OST containing the
			 following information:
(a) The name of the
			 payment obligor under the loan;
(b)
			 The original principal balance of the loan;
(c) The current unpaid principal balance of
			 the loan;
(d) The maturity date for
			 the loan;
(e) Whether the loan may
			 be repaid prior to maturity;
(f)
			 The credit rating (if applicable) of the general obligations of the
			 obligor;
(g) The credit enhancement
			 (such as insurance), if any, for the loan;
(h) Whether an event of default has ever
			 occurred under the loan; and
(i)
			 Whether the obligor has defaulted with respect to the payment of principal or
			 interest on any of its loans or similar obligations within the preceding 10
			 years or during the period of its existence if that is less than 10
			 years.
Oregon Administrative Rules › Chapter 170 - OREGON STATE TREASURY › Division 40 - PUBLIC FUNDS COLLATERALIZATION RULES › Section 170-040-0040 - Approval of Bond Anticipation Notes Pledged by Depositories

Current through Register Vol. 63, No. 7, July 1, 2024
(1) Bond
			 anticipation notes issued, sold or assumed by an authority under ORS
			 441.560 may be pledged as
			 collateral by a depository only after the depository has received written
			 approval from the Office of the State Treasurer (OST). However, the OST will
			 not accept requests for and approve such bond anticipation notes as collateral,
			 unless and until written notice is provided to depositories that, from a date
			 designated in the notice, OST will begin to accept such requests and evaluate
			 the acceptability of such notes as collateral.
(2) After receipt of the notice described
			 above, the depository shall submit a written request to the OST containing the
			 following information:
(a) The name of the
			 note issuer;
(b) The original
			 principal balance of the note;
(c)
			 The current unpaid principal balance of the note;
(d) The maturity date of the note;
(e) Whether the note may be repaid prior to
			 maturity;
(f) The credit rating (if
			 applicable) of the issuer;
(g) The
			 credit enhancement (such as insurance), if any, of the note;
(h) Whether an event of default has ever
			 occurred under the note; and
(i)
			 Whether the issuer has defaulted with respect to the payment of principal or
			 interest on any of its notes or similar obligations within the preceding 10
			 years or during the period of its existence if that is less than 10
			 years.
Oregon Administrative Rules › Chapter 170 - OREGON STATE TREASURY › Division 40 - PUBLIC FUNDS COLLATERALIZATION RULES › Section 170-040-0050 - Public Officials' Notification of Depositories

Current through Register Vol. 63, No. 7, July 1, 2024
Each public official shall maintain on file with the Office of
				the State Treasurer the name and address of each depository in which the public
				official deposits public funds and shall update such information at least
				annually or within three business days after the effective date of a change in
				any depository.
Stat. Auth.:
Stats. Implemented: ORS
				  295.006(2)(3)
Oregon Administrative Rules › Chapter 170 - OREGON STATE TREASURY › Division 40 - PUBLIC FUNDS COLLATERALIZATION RULES › Section 170-040-0060 - Accounts in Financial Institutions Outside Oregon

Current through Register Vol. 63, No. 7, July 1, 2024
The Office of the State Treasurer may establish demand deposit
				accounts in financial institutions outside this state for the purpose of
				accepting deposits of funds related to the state investments in geographical
				areas respectively serviced by the institutions. Such accounts shall be
				deposited only in financial institutions that are well-capitalized according to
				the classifications of its primary federal regulatory
				authority.
Stat. Auth.:
Stats. Implemented: ORS
				  295.205(2)
Oregon Administrative Rules › Chapter 170 - OREGON STATE TREASURY › Division 40 - PUBLIC FUNDS COLLATERALIZATION RULES › Section 170-040-0070 - Approval for a Depository to Hold Excess Public Funds

Current through Register Vol. 63, No. 7, July 1, 2024
The Office of the State Treasurer may approve the request of a
				depository to hold public funds in excess of the limits provided in ORS
				295.048(1)(a) through
				(c), only if:
(1) The depository deposits collateral valued
			 at 100% of the amount of such excess public funds deposits; and
(2) The depository demonstrates to the
			 satisfaction of the State Treasurer that allowing such excess deposits provides
			 benefits to one or more depositors, does not jeopardize public funds, and that
			 the depository has a plan for the orderly elimination of such excess deposits
			 within 90 days.
Stat. Auth.:
Stats. Implemented: ORS
				  295.048(4)
Oregon Administrative Rules › Chapter 170 - OREGON STATE TREASURY › Division 40 - PUBLIC FUNDS COLLATERALIZATION RULES › Section 170-040-0080 - Custodian Must Meet Statutory Requirements

Current through Register Vol. 63, No. 7, July 1, 2024
(1) A depository may designate the Federal
			 Home Loan Bank ("FHLB") or any insured institution or trust company that has
			 been approved by the State Treasurer and otherwise meets the criteria of ORS
			 295.001(6)(b)
			 (an "approved institution") only if, and so long as, the FHLB or approved
			 institution demonstrates to the satisfaction of the State Treasurer that it
			 complies with the duties of a custodian required under
			 295.001 to
			 295.108 (the "statutory
			 requirements").
(2) If the State
			 Treasurer determines that an approved institution has failed to comply with the
			 statutory requirements, the State Treasurer shall revoke the prior approval
			 granted under ORS 295.001(6)(b)(C)
			 and remove the institution from the organizations that the State Treasurer has
			 approved to serve as custodians.
(3) If the State Treasurer determines that
			 the FHLB or an approved institution has failed to comply with the statutory
			 requirements, it will issue a notice to all depositories informing the
			 depositories of the State Treasurer's determination. After the State Treasurer
			 has issued such notice, a depository may not use the FHLB or approved
			 institution subject to the notice as its custodian and, as soon as practicable,
			 shall enter into an agreement with a successor custodian and transfer all
			 securities held by the FHLB or formerly approved institution to the successor
			 custodian.
(4) If the State
			 Treasurer later determines that the FHLB or an insured institution or trust
			 company is eligible to serve as a custodian because it has demonstrated to the
			 satisfaction of the State Treasurer that it is capable of fulfilling the
			 statutory requirements, the State Treasurer will issue a notice informing
			 depositories of its determination and that the FHLB or insured institution or
			 trust company subject to the notice is eligible to serve as a custodian,
			 provided the insured institution or trust company has also been approved by the
			 State Treasurer under ORS
			 295.001(6)(b)(C).
(5) The State Treasurer will not designate an
			 insured institution or trust company to serve as a custodian under ORS
			 295.001(6)(b)(C)
			 unless it demonstrates to the satisfaction of the State Treasurer that it is
			 capable of fulfilling the statutory requirements of a custodian.
Stat. Auth.:
Stats. Implemented: ORS
				  295.001(6)
Oregon Administrative Rules › Chapter 170 - OREGON STATE TREASURY › Division 40 - PUBLIC FUNDS COLLATERALIZATION RULES › Section 170-040-0090 - Weekly Reporting Requirement for Depositories at 110% Collateralization

Current through Register Vol. 63, No. 7, July 1, 2024
Depositories ordered to collateralize their public funds
				deposits at 110% by the State Treasurer are required to submit a new Treasurer
				Report weekly. The weekly reporting requirement shall remain in effect until
				such time as the depository no longer holds public funds deposits over the FDIC
				limit or the State Treasurer removes the 110% collateralization
				requirement.
Stat. Auth.: ORS
				  295.018(1)
				  & 295.061(3)
Stats. Implemented: ORS 295
Oregon Administrative Rules › Chapter 170 - OREGON STATE TREASURY › Division 40 - PUBLIC FUNDS COLLATERALIZATION RULES › Section 170-040-0100 - Reporting Requirement for Depositories with Decreased Net Worth and/or Capitalization Level

Current through Register Vol. 63, No. 7, July 1, 2024
A depository that files reports with the State Treasurer
				according to ORS 295.061(1) is
				required to submit a new Treasurer Report to the State Treasurer within three
				business days of:
(1) The date on
			 which the depository's net worth is reduced by an amount greater than 10
			 percent of the amount shown on its most recent Treasurer Report.
(2) The date on which a depository ceases to
			 be well capitalized and becomes adequately capitalized or undercapitalized, or
			 ceases to be adequately capitalized and becomes undercapitalized.
Stat. Auth.: ORS
				  295.061(2)(a)
				  & 295.061(2)(b)
Stats. Implemented: ORS 295
Oregon Administrative Rules › Chapter 170 - OREGON STATE TREASURY › Division 40 - PUBLIC FUNDS COLLATERALIZATION RULES › Section 170-040-0110 - Monthly Reporting Requirement for Depositories at Increased Collateralization Level

Current through Register Vol. 63, No. 7, July 1, 2024
Depositories ordered to collateralize their public funds
				deposits at an increased level, but less than 110%, by the State Treasurer are
				required to submit a new Treasurer Report monthly. The monthly reporting
				requirement shall remain in effect until such time as the depository no longer
				holds public funds deposits over deposit insurance limits or the State
				Treasurer removes the increased collateralization requirement. The monthly
				report is in addition to the quarterly Treasurer Report that is statutorily
				required.
Stat. Auth.: ORS
				  295.018(1)(b)
				  & 295.061(1)
Stats. Implemented: ORS 295
Oregon Administrative Rules › Chapter 170 - OREGON STATE TREASURY › Division 50 - ENDOWMENT CARE FUNDS › Section 170-050-0010 - Approved Investments

Current through Register Vol. 63, No. 7, July 1, 2024
The following classes of securities are approved for investment
				of moneys deposited in endowment care funds after July 5, 1947, up to the
				indicated maximum percentage of the total endowment care funds: Class of
				Security -- Permitted Percentage of Total Endowment Care Fund:
(1) United States Government Bonds and
			 Federal Agency paper -- 100 percent.
(2) Savings deposits and time certificates of
			 deposit with financial institutions to the extent the deposit is fully insured
			 by an agency of the federal government -- 100 percent.
(3) Savings deposits and time certificates of
			 deposits with financial institutions in amounts exceeding federal insurance
			 provisions, to the extent such funds are collateralized by corporate or
			 municipal bonds bearing a rating of BAA or higher -- 100 percent.
(4) Corporate Bonds -- Industrial, bearing
			 Grade AAA, AA, or A rating -- 100 percent.
(5) Corporate Bonds -- Utilities, bearing
			 Grade BAA or higher -- 25 percent.
(6) First mortgages on real property, except
			 those where the mortgagor is any cemetery association, business, or authority
			 as defined in ORS 97.010, or any officer,
			 director, employee, or other associate thereof -- 50 percent.
(7) Investment Companies registered under the
			 Investment Companies Act of 1940 which restrict their investments to the
			 following fixed income instrument: obligations of the U.S. government and its
			 agencies; obligations of Federal Reserve member banks; and commercial paper
			 rated A-1 or P-1, and corporate bonds, excluding convertibles --100
			 percent.
(8) Corporate stock listed
			 on the New York Stock Exchange, or bank stock, where the corporation has shown
			 growth in earnings during 4 out of the past five years -- 25 percent.
(9) Investment Companies registered under the
			 Investment Companies Act of 1940 -- 25 percent.
Stat. Auth.: ORS
				  178.050
Stats. Implemented: ORS
				  97.820
Oregon Administrative Rules › Chapter 170 - OREGON STATE TREASURY › Division 55 - MUNICIPAL BONDS › Section 170-055-0001 - Definitions and Notice to Treasurer

Current through Register Vol. 63, No. 7, July 1, 2024
(1) Terms used in OAR 170-055 shall have the
			 meanings given in ORS chapters 286A and 287A unless otherwise specifically
			 defined herein.
(2) "OST" means the
			 Office of the State Treasurer.
(3)
			 "State agency" means a related agency defined in ORS
			 286A.001(8).
(4) Whenever notice or information is
			 required to be submitted by statute or rule to the Office of the State
			 Treasurer acting on its own behalf or as staff to the Municipal Debt Advisory
			 Commission or the Private Activity Bond Committee, such notice or information
			 may be submitted:
(i) By electronic submission
			 to: DMD@OST.state.or.us;
(ii) By
			 mail or delivery to: Debt Management Division of the Office of the State
			 Treasurer, 867 Hawthorne Ave SE, Salem, OR 97301-5241; or
(iii) By facsimile to 503-378-2870.
Oregon Administrative Rules › Chapter 170 - OREGON STATE TREASURY › Division 60 - OREGON MUNICIPAL DEBT ADVISORY COMMISSION › Section 170-060-0000 - Notice of Proposed Rulemaking

Current through Register Vol. 63, No. 7, July 1, 2024
Prior to the adoption, amendment, or repeal of any permanent
				rule, the Chairman of the Commission or their designee shall give notice of the
				intended action:
(1) In the Secretary
			 of State's Bulletin referred to in ORS
			 183.360 at least 21 days prior
			 to the effective date of the intended action.
(2) By providing a copy of the Notice to
			 persons on the Commission's mailing list established pursuant to ORS 183.335 (7) at least 28 days before the effective date of the rule. Providing a copy
			 means by mail, e-mail, notice of posting to a web-site, or any other means
			 whereby interested parties have timely access to the permanent rule and the
			 intended action.
(3) By providing a
			 copy of the Notice to the following persons, organizations, or publications:
(a) Selected cities, counties, school
			 districts, port districts;
(b) Any
			 district or other interested party as determined by the Commission;
(c) League of Oregon Cities;
(d) Association of Oregon Counties;
(e) Oregon School Boards'
			 Association;
(f) Oregon Bond
			 Counsel.
Oregon Administrative Rules › Chapter 170 - OREGON STATE TREASURY › Division 60 - OREGON MUNICIPAL DEBT ADVISORY COMMISSION › Section 170-060-0001 - Definitions

Current through Register Vol. 63, No. 7, July 1, 2024
Terms used in OAR 170-060 shall have the meanings given in ORS
				chapter 287A unless otherwise specifically defined herein:
(1) Definitions.
(2) "Counterparty" means an entity with whom
			 a public body enters into an agreement for the exchange of interest
			 rates.
(3) "Swap policy" means the
			 written policy regarding the use of agreements for the exchange of interest
			 rates adopted by the public body.
(4) "MDAC" means the Oregon Municipal Debt
			 Advisory Commission.
(5) "OST"
			 means the Office of the State Treasurer.
Stat. Auth.: ORS
				  178.050
Stats Implemented: ORS
				  183.355
Oregon Administrative Rules › Chapter 170 - OREGON STATE TREASURY › Division 61 - ISSUANCE OF BONDS › Section 170-061-0020 - Requirements for Notice of Call

Current through Register Vol. 63, No. 7, July 1, 2024
(1)
			 Notice of Bond Call. Any public body redeeming bonds prior to their stated
			 maturity shall notify the MDAC of its intention to call bonds no later than the
			 date the first bond is called. The notice to the MDAC shall include as a
			 minimum the:
(a) Name or title of
			 issue;
(b) The public body who sold
			 the bonds;
(c) Issue
			 date;
(d) Original issue
			 amount;
(e) Purpose of
			 issue;
(f) Maturity dates, call
			 dates and principal amounts of the bonds called;
(g) Amount outstanding upon completion of the
			 call;
(h) Coupon interest
			 rate;
(i) Call premium, if any;
			 and
(j) Remaining principal
			 amortization schedule.
Oregon Administrative Rules › Chapter 170 - OREGON STATE TREASURY › Division 61 - ISSUANCE OF BONDS › Section 170-061-0100 - Procedures for the Issuance of State of Oregon Economic Development Revenue Bonds Issued under ORS 285B.320 to 285B.371 (EDRB)

Current through Register Vol. 63, No. 7, July 1, 2024
(1) Terms and Conditions of Sale. The sale of
			 State of Oregon EDRBs is permitted under the following terms:
(a) Public Offerings. A public offering of
			 EDRBs must meet the requirements of both paragraphs (A) and (B) of this
			 subsection:
(A) An applicant for publicly
			 offered bond financing must receive specific approval from OST. The proposed
			 bond issuance must receive an investment grade rating from a nationally
			 recognized rating agency (Moody's Investors Service, Fitch Ratings or Standard
			 and Poor's Corporation) or receive an equivalent rating through the use of
			 credit enhancement. The investment grade rating requirement may be waived by
			 OST for applicants who are listed on the New York Stock Exchange (NYSE) or the
			 National Association of Securities Dealers Exchange (NASDAQ).
(B) An official statement or disclosure
			 document must be prepared and available for bond purchasers. The cover page
			 must illustrate the rating.
Oregon Administrative Rules › Chapter 170 - OREGON STATE TREASURY › Division 61 - ISSUANCE OF BONDS › Section 170-061-0200 - Election to Issue Bonds Under Laws Prior to 2008 ("Prior Laws")

Current through Register Vol. 63, No. 7, July 1, 2024
(1) Election For
			 State Agencies. A state agency may request that the State Treasurer elect to
			 issue bonds on behalf of the agency under the Prior Laws, without regard to
			 Chapter 783 Oregon Laws 2007, by submitting a written request for the election
			 to OST on or before the date that is forty-five (45) days before the scheduled
			 sale date for the bonds. The ability to elect Prior Laws for bond issuance
			 provided for in this administrative rule expires January 2, 2010.
(2) Demonstrate Need. The request shall
			 demonstrate the need for the election by describing why the agency's bonds
			 cannot or should not be issued under the provisions of Chapter 783, including a
			 description of the problem, if any, in Chapter 783 that led to the agency's
			 request. The State Treasurer may elect to issue bonds under the Prior Laws if
			 the state agency demonstrates that:
(a) An
			 approving opinion of bond counsel cannot be provided under Chapter 783 but may
			 be provided under the Prior Laws;
(b) The agency's bonds may be issued at a
			 substantially lower cost under the Prior Laws than under Chapter 783;
(c) A credit enhancement or other financing
			 mechanism that would substantially improve the overall financing structure of
			 the bond sale may be used under the Prior Laws but not under Chapter 783;
			 or
(d) Any other reason that would
			 result in the agency's bonds being issued at a substantially lower cost or
			 under a structure or terms that are substantially better for the agency or the
			 State of Oregon if the bonds are issued under the Prior Laws rather than
			 Chapter 783. An agency shall promptly provide such additional information or
			 documentation as OST may request to assist OST in making a determination as to
			 whether an election should be made. OST will determine whether to make the
			 election on or before thirty (30) days after receipt of the request for an
			 election from a state agency. If OST fails to make a determination within that
			 time, the agency's request will be deemed to be denied.
Oregon Administrative Rules › Chapter 170 - OREGON STATE TREASURY › Division 61 - ISSUANCE OF BONDS › Section 170-061-0300 - Selection of Underwriters and Advisors by the State Treasurer

Current through Register Vol. 63, No. 7, July 1, 2024
(1) Underwriters.
			 OST may select underwriters for the State's bond programs either through a
			 direct appointment and negotiated process with a single firm or with multiple
			 firms or through the issuance of requests for proposals for a single firm or
			 multiple firms. OST may determine to select one or more underwriters for each
			 bond finance program operated by a state agency. Generally, underwriting firms
			 will be selected to participate in a syndicate of underwriters for a bond
			 finance program for a period not to exceed three years, unless at the
			 discretion of OST circumstances exist to extend such period. If OST issues
			 requests for proposals, such proposals shall be published on the website of the
			 OST and sent to all firms on the Treasurer's Underwriter Bidders List. Any firm
			 interested in receiving requests for proposals for underwriters must provide
			 their name, address, e-mail, telephone number and names of contact individuals
			 to the OST with a request to be added to the Underwriter Bidders
			 List.
(2) Financial and other
			 Advisors or Service Providers. OST may select financial advisors, bond counsel
			 and other providers of services in connection with the State's bond programs
			 either through a direct appointment and negotiated process with a single firm
			 or with multiple firms or through the issuance of requests for proposals for a
			 single firm or multiple firms. OST may determine to select one or more service
			 providers for each bond finance program operated by a state agency.
Stat. Auth.: ORS
				  286A.005
Stats. Implemented: ORS
				  286A.025,
				  286A.130,
				  286A.132.
Oregon Administrative Rules › Chapter 170 - OREGON STATE TREASURY › Division 61 - ISSUANCE OF BONDS › Section 170-061-0400 - Lost, Stolen or Destroyed Bonds or Interest Coupons

Current through Register Vol. 63, No. 7, July 1, 2024
(1) Payment Under Bondholder Agreement. A
			 paying officer shall pay any lost, mutilated or stolen bond or interest coupon
			 as provided in the indenture or other agreement with bond owners executed when
			 the bond was issued. If not provided for in the original indenture or
			 agreements, the procedures outlined in this rule shall apply.
(2) Payment of Matured Bond. A paying officer
			 shall pay the principal of and interest on any bond at or after maturity if the
			 asserted owner of the instrument:
(a) Submits
			 an affidavit that describes the following items in sufficient detail for the
			 paying officer to determine the accuracy and veracity of the statements in the
			 affidavit and that the bond has not already been paid:
(A) The bond;
(B) The circumstances surrounding the
			 acquisition of the bond(s); and
(C)
			 The circumstances surrounding the bond's loss, mutilation or
			 destruction;
Oregon Administrative Rules › Chapter 170 - OREGON STATE TREASURY › Division 62 - ADVANCE REFUNDING PLAN › Section 170-062-0000 - Procedure for Submission, Review and Approval of an Advance Refunding Plan or Forward Current Refunding Plan

Current through Register Vol. 63, No. 7, July 1, 2024
(1) Plan Contents and Filing. Every public
			 body (as defined in ORS
			 287A.001(14)
			 must submit its plans for an advance refunding or forward current refunding
			 (the "Refunding Plan") and receive approval by the Office of the State
			 Treasurer ("OST"), as provided in this rule and ORS
			 287A.370.
			 The Refunding Plan request should include the name, phone number, U.S. mailing
			 and e-mail address for the public body and for the public body's bond counsel,
			 Municipal Advisor ("MA"), and underwriter. The Refunding Plan contains the
			 following components:
(a) A description of
			 the bonds to be refunded, including: date and premium, if any, when each is
			 first callable; par amount originally issued, current amount outstanding,
			 proposed amount and maturities to be refunded; and the dated date;
(b) Authorizing
			 Ordinance/Resolution;
(c) Contract
			 between the public body and its MA;
(d) Municipal Debt Advisory Committee
			 ("MDAC") Forms 1, 2 and 3, as applicable;
(e) Final official statement or agreement
			 with a financial institution, as applicable;
(f) Issuer's Arbitrage/Tax Certificate, if
			 applicable;
(g) Escrow verification
			 report, if applicable;
(h) Letter
			 from MA to the public body as described in section (2) of this rule;
(i) Bond counsel legal opinion; and
(j) Any additional materials that may be
			 required by OST in support of the advance refunding or forward current
			 refunding request.
Oregon Administrative Rules › Chapter 170 - OREGON STATE TREASURY › Division 71 - PRIVATE ACTIVITY BOND COMMITTEE › Section 170-071-0005 - Allocation of Private Activity Bond Limit

Current through Register Vol. 63, No. 7, July 1, 2024
(1) Definitions.
(a) "CAP" means the state's private activity bond volume limit.
(b) "Committee" means the Private Activity Bond Committee established pursuant to ORS 286a.615.
(c) "Issuer" has that meaning given to it by ORS 286A.605.
(d) "OST" means the Office of the State Treasurer.
(e) "Private Activity Bonds" has the meaning given in Section  141 of the Internal Revenue Code of 1986."OST" means the Office of the State Treasurer.
Oregon Administrative Rules › Chapter 170 - OREGON STATE TREASURY › Division 71 - PRIVATE ACTIVITY BOND COMMITTEE › Section 170-071-0005 - Allocation of Private Activity Bond Limit

Current through Register Vol. 63, No. 7, July 1, 2024
(1) Definitions.
(a) "CAP" means the state's private activity bond volume limit.
(b) "OST" means the Office of the State Treasurer.
(c) "Committee" means the Private Activity Bond Committee established pursuant to ORS 286a.615.
(d) "Issuer" has that meaning given to it by ORS 286A.605.
(e) "Private Activity Bonds" has the meaning given in Section  141 of the Internal Revenue Code of 1986.
Oregon Administrative Rules › Chapter 170 - OREGON STATE TREASURY › Division 80 - OREGON RETIREMENT SAVINGS PROGRAM › Section 170-080-0001 - Notice Rule for Rulemaking, Model Rules of Procedure

Current through Register Vol. 63, No. 7, July 1, 2024
(1) Notice Rule for Rulemaking. Before
			 adopting, amending or repealing any permanent rule, the Board will give notice
			 of the intended action:
(a) In the Secretary
			 of State's Bulletin referred to in ORS
			 183.360 at least 21 days before
			 the effective date of the rule;
(b) By e-mailing a copy of the notice to
			 persons on the Board's mailing list established pursuant to ORS
			 183.335(8) at
			 least 28 days before the effective date of the rule;
(c) By mailing a copy of the notice to the
			 legislators specified in ORS
			 183.335(15) at
			 least 49 days before the effective date of the rule; and
(d) By mailing or furnishing a copy of the
			 notice to the list of interested parties compiled and maintained by the State
			 Treasurer.