Oregon Statutes 285B.012 – Other forms of financial assistance; rules
The Oregon Business Development Department may directly or indirectly expend or loan moneys in the Industrial Lands Loan Fund established under ORS § 285B.030 or extend credit to:
Terms Used In Oregon Statutes 285B.012
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
(1) Provide to project sponsors of an industrial land eligible project any allowable form of financial assistance that the department considers appropriate, including the refinancing of temporary project financing.
(2) Purchase goods or services related to an eligible project on behalf of the project sponsor.
(3)(a) Finance guaranty agreements that are issued to guarantee any portion of the obligation of a project sponsor to finance an industrial land development project and that are not sold to the State of Oregon.
(b) Guaranty agreements under this subsection shall be payable solely from moneys in the fund and shall not constitute a debt or obligation of the State of Oregon.
(c) The department may, on behalf of the state, establish a special account in the fund and commit to deposit into the special account specified portions of current and future moneys credited to the fund.
(d) The commitments shall be made by rule of the department and shall constitute covenants of the state for the benefit of the owners of obligations guaranteed by the state pursuant to this section. [2023 c.25 § 17]