Oregon Statutes 286A.750 – Terms and conditions of pension liability bonds
(1) In accordance with the applicable provisions of this chapter, the State Treasurer, after consulting with the Director of the Oregon Department of Administrative Services, may issue Article XI-O bonds from time to time for the purposes described in ORS § 286A.735 (2).
Terms Used In Oregon Statutes 286A.750
- Escrow: Money given to a third party to be held for payment until certain conditions are met.
- Trustee: A person or institution holding and administering property in trust.
(2) Article XI-O bonds may be issued and sold as provided in this chapter.
(3) Subject to the approval of the State Treasurer, the Director of the Oregon Department of Administrative Services may:
(a) Enter into agreements with a trustee or escrow agent regarding the use and application of the amounts held in the Article XI-O Bond Fund or the Article XI-O Bond Administration Fund; and
(b) Transfer amounts credited to the bond fund or the bond administration fund to a trustee or escrow agent. [Formerly 286.750]
SEISMIC REHABILITATION BONDS
(Public Education Buildings)