Oregon Statutes 383.225 – Revenue declaration or indenture; contents; purpose
(1) Before tollway project revenue bonds are issued under ORS § 383.200, the Department of Transportation must prepare a revenue declaration or indenture authorizing issuance of the bonds. The revenue declaration or indenture must be signed by the Director of Transportation or a person designated by the director and must be approved by the State Treasurer or a person designated by the State Treasurer.
Terms Used In Oregon Statutes 383.225
- Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
- Contract: A legal written agreement that becomes binding when signed.
- Person: includes individuals, corporations, associations, firms, partnerships, limited liability companies and joint stock companies. See Oregon Statutes 174.100
- Rescission: The cancellation of budget authority previously provided by Congress. The Impoundment Control Act of 1974 specifies that the President may propose to Congress that funds be rescinded. If both Houses have not approved a rescission proposal (by passing legislation) within 45 days of continuous session, any funds being withheld must be made available for obligation.
- Trustee: A person or institution holding and administering property in trust.
(2) A revenue declaration or indenture prepared under this section may do any of the following:
(a) Pledge any part or all of moneys described under ORS § 383.205 for purposes of the bonds to be issued.
(b) Limit the purpose for which the proceeds of the sale may be applied by the department.
(c) Make pledges concerning the proceeds of the sale or moneys described under ORS § 383.205 as necessary to secure payment of bonds of the department.
(d) Limit or establish terms upon which additional bonds or refunding bonds may be issued under ORS § 383.200.
(e) Provide for procedures, if any, by which the terms of contracts with bondholders may be amended or rescinded, for the percentage of the bondholders that must consent to amendment or rescission of the contract and for the manner of bondholder consent to any amendment or rescission of the contract.
(f) Establish a trustee and vest the trustee with property, rights, powers and duties in trust, as the State Treasurer determines appropriate.
(g) Provide for other matters affecting the issuance of bonds.
(h) Provide for a debt service reserve pursuant to ORS § 286A.025 (6).
(i) Provide for certain covenants pursuant to ORS § 286A.025 (4)(c) and 286A.102 (10). [2021 c.630 § 150]
[Repealed by 1981 c.153 § 79]