(1) The Oregon Infrastructure Finance Authority shall determine eligibility of a water project for revenue bond financing under ORS § 285B.560 to 285B.599 pursuant to rules adopted by the Oregon Business Development Department.

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(2) Upon determining that a water project is eligible for revenue bond financing, the authority shall forward a description of the project to the State Treasurer. The State Treasurer shall determine whether to issue revenue bonds. [Formerly 285.950; 2009 c.830 § 123]