Oregon Statutes 289.010 – Findings; purpose
(1) The Legislative Assembly finds that by use of the powers and procedures described in this chapter for the assembling and financing of lands for housing, educational, cultural or other nonprofit uses and for the construction and financing of facilities for those uses, financed through the issuance of revenue bonds secured solely by the properties and rentals thus made available, the state may be able to increase the availability of decent, affordable housing, the achievement of higher levels of learning and development of the intellectual capacities of citizens, the expansion of the authorized services and resources for the intellectual and artistic enrichment of citizens, the advancement of nonprofit activities and services and the general well-being of citizens.
Terms Used In Oregon Statutes 289.010
- Nonprofit: means an institution, organization or entity within this state exempt from taxation under section 501(c)(3) of the Internal Revenue Code as defined in ORS § 314. See Oregon Statutes 289.005
- revenue bonds: means revenue bonds, as defined in ORS § 286A. See Oregon Statutes 289.005
(2) It is the purpose of this chapter to authorize the exercise of powers granted by this chapter by this state in addition to and not in lieu of any other powers it may possess. [1989 c.820 § 1; 2007 c.71 § 89; 2007 c.785 § 2; 2015 c.51]
OREGON FACILITIES AUTHORITY