Oregon Statutes 367.640 – Indenture; provisions
An indenture under which bonds described under ORS § 367.615 are issued may provide for any or all of the following:
Terms Used In Oregon Statutes 367.640
- Bond: means a contractual undertaking or an instrument to borrow money including, but not limited to, a bond, a note, an obligation, a loan agreement, a financing lease, a financing agreement or other similar instrument or agreement. See Oregon Statutes 367.010
- Trustee: A person or institution holding and administering property in trust.
(1) The pledging of moneys or a portion of moneys described under ORS § 367.605 to the payment of the bond debt service on bonds issued under ORS § 367.615.
(2) Requirements concerning particular issues of bonds under ORS § 367.615.
(3) Requirements concerning moneys described under ORS § 367.605 and payment on outstanding bonds issued under ORS § 367.615.
(4) A contractual undertaking for the benefit of bondholders concerning assessment, levy collection and deposit of moneys described under ORS § 367.605.
(5) Provisions concerning the registration of bonds or recording or filing of the indenture.
(6) Provisions relating to a reserve account under ORS § 367.645. Provisions under this subsection may include, but are not limited to, the amount required for such account or provisions for replenishing the account from moneys described under ORS § 367.605.
(7) Provisions concerning trustees under ORS § 367.650 including, but not limited to:
(a) Establishing funds, accounts or moneys described under ORS § 367.605 over which the trustee will be custodian.
(b) Providing that a trustee will be appointed.
(8) Establishing the maturation date for the bonds, subject to ORS § 367.635. [1985 c.551 § 7; 2003 c.201 § 27]