Oregon Statutes 285B.467 – Oregon Infrastructure Finance Authority to determine eligibility for revenue bond financing; rules; request for issuance; allowable costs
(1) The Oregon Infrastructure Finance Authority shall determine eligibility for revenue bond financing under ORS § 285B.467 to 285B.479 of development projects that have qualified under ORS § 285B.419 to 285B.437 and 285B.449 pursuant to rules adopted by the Oregon Business Development Department.
Terms Used In Oregon Statutes 285B.467
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Lien: A claim against real or personal property in satisfaction of a debt.
(2) After a determination is made that a development project is eligible for revenue bond financing under ORS § 285B.467 to 285B.479, the department shall forward a request for the issuance of revenue bonds to the State Treasurer, who shall determine whether to issue revenue bonds.
(3) When a project is determined to be eligible for revenue bond financing under ORS § 285B.467 to 285B.479, allowable costs as described in ORS § 285B.465 may be paid from bond proceeds.
(4) Administrative expenses of the authority in processing applications and investigating proposed projects and bond sales may not be derived from bond proceeds.
(5) The authority may pledge all or any portion of the existing or future assets and receipts of the Special Public Works Fund to pay debt service on bonds issued pursuant to ORS § 285B.410 to 285B.482. The pledge shall take effect immediately, without delivery of the pledged funds to third parties, and the lien of the pledge shall be superior to all other liens of any nature.
(6) The authority is authorized to establish separate accounts within the fund for separate bond issues. [Formerly 285.740; 2001 c.883 § 34; 2003 c.773 § 45; 2005 c.835 § 15; 2009 c.830 § 106]