Oregon Statutes 285B.420 – Financial assistance for levee projects; required findings
(1) The Oregon Infrastructure Finance Authority may provide financial assistance in the form of loans or grants for a levee project to:
Terms Used In Oregon Statutes 285B.420
- 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.
(a) Drainage districts organized under ORS Chapter 547;
(b) Corporations or companies for drainage or flood control organized under ORS Chapter 554; and
(c) For-profit or nonprofit entities and individuals engaged in the ownership, construction, inspection, accreditation, certification or repair of levees.
(2) To qualify for financial assistance under this section, the district, corporation, company, entity or individual must demonstrate, and the authority must find, that the levee project substantially contributes to the improvement, expansion or repair of the state’s or a municipality’s infrastructure system and is essential for the use or development of farm, industrial or commercial land in Oregon.
(3) Levee projects that receive financial assistance under this section are subject to the provisions and requirements of ORS § 285B.410 to 285B.482, if applicable. [2015 c.667 § 3]
285B.420 was added to and made a part of 285B.410 to 285B.482 by legislative action but was not added to any smaller series therein. See Preface to Oregon Revised Statutes for further explanation.