(1) A local government may, upon its own motion, consider whether it is advisable to create an authority for the purpose of acquiring, rehabilitating, redeveloping, reutilizing or restoring brownfield properties that are located within the geographic boundaries over which the local government has jurisdiction.

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Terms Used In Oregon Statutes 465.603

  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • local government: means all cities, counties and local service districts located in this state, and all administrative subdivisions of those cities, counties and local service districts. See Oregon Statutes 174.116

(2) If the local government, after public hearing according to the local government’s rules, determines that it is wise and desirable to create in an authority the powers and duties set forth in ORS § 465.600 to 465.621, the local government shall by ordinance or resolution create such an authority. The ordinance or resolution shall set forth:

(a) The name of the authority, which shall be ‘The Land Bank Authority of (local government), Oregon’ or other similar distinctive name.

(b) The number of directors of the authority, which must be an odd number not less than five or more than 11.

(c) The names of the initial directors and their initial terms of service, which may not exceed four years.

(d) Other provisions that may be appropriate and not inconsistent with ORS § 465.600 to 465.621 or the laws of Oregon.

(3) Upon the adoption of an ordinance or resolution under subsection (2) of this section, the authority shall be deemed established as a municipal corporation of the state and as a body corporate and politic exercising public powers. Notwithstanding any law to the contrary, the authority shall exist as a legal entity separate from the local government that created the authority.

(4) An authority organized under this section shall have all the powers and duties contained in ORS § 465.600 to 465.621. [2015 c.631 § 2]

 

See note under 465.600.