ORS 196.235
Financing agreements

(1)

As used in this section:

(a)

“Credit enhancement agreement” means any agreement or contractual relationship between the Willamette Falls Locks Authority and any bank, trust company, insurance company, surety bonding company, pension fund or other financial institution providing additional credit on or security for a financing agreement or certificates of participation.

(b)

“Financing agreement” means a lease-purchase agreement, an installment sale agreement, a loan agreement, note agreement, short-term promissory notes, commercial papers, lines of credit or similar obligations or any other agreement to finance real or personal property that is or will be owned and operated by the authority, or to refinance previously executed financing agreements.

(c)

“Personal property” means tangible personal property, software and fixtures.

(d)

“Property rights” means, with respect to personal property, the rights of a secured party under ORS chapter 79 and, with respect to real property, the rights of a trustee or lender.

(e)

“Software” means software and training and maintenance contracts related to the operation of computing equipment.

(2)

The Willamette Falls Locks Authority may enter into financing agreements in accordance with this section, upon such terms as the authority determines to be necessary or desirable. Amounts payable by the authority under a financing agreement are limited to funds specifically pledged, budgeted for or otherwise made available by the authority. If there are insufficient available funds to pay amounts due under a financing agreement, the lender may exercise any property rights that the authority has granted to the lender in the financing agreement against the property that was purchased with the proceeds of the financing agreement, and may apply the amounts so received toward payments scheduled to be made by the authority under the financing agreement.

(3)

The authority may:

(a)

Enter into agreements with third parties to hold financing agreement proceeds, payments and reserves as security for lenders, and to issue certificates of participation in the right to receive payments due from the authority under a financing agreement. Amounts held pursuant to this paragraph shall be invested at the direction of the authority. Interest earned on any investments held as security for a financing agreement may, at the option of the authority, be credited to the accounts held by the third party and applied in payment of sums due under a financing agreement.

(b)

Enter into credit enhancement agreements for financing agreements or certificates of participation, provided that the credit enhancement agreements must be payable solely from funds specifically pledged, budgeted for or otherwise made available by the authority and amounts received from the exercise of property rights granted under the financing agreements.

(c)

Use financing agreements to finance the costs of acquiring or refinancing real or personal property, plus the costs of reserves, credit enhancements and costs associated with obtaining the financing.

(d)

Grant leases of real property with a trustee or lender.

(e)

Grant security interests in personal property to trustees or lenders.

(f)

Make pledges for the benefit of trustees and lenders.

(g)

Purchase fire, liability, flood and extended insurance coverage or other casualty insurance for property that is acquired, transferred or refinanced with proceeds of a financing agreement, assign the proceeds thereof to a lender or trustee to the extent of their interest, and covenant to maintain the insurance while the financing agreement is unpaid, so long as available funds are sufficient to purchase such insurance.

(4)

A lease or financing agreement under this section does not cause otherwise exempt property to be subject to property taxation. A lease or financing agreement is disregarded in determining whether property is exempt from taxation under ORS chapter 307. [2021 c.229 §9]
Note: See note under 196.200 (Definitions for ORS 196.200 to 196.240 and 196.993).

Source: Section 196.235 — Financing agreements, https://www.­oregonlegislature.­gov/bills_laws/ors/ors196.­html.

196.105
Definitions for ORS 196.105 to 196.125 196.107
Legislative findings on management plan 196.109
Effect of revision of urban area boundaries within scenic area on management plan 196.110
Land use regulation in Columbia River Gorge National Scenic Area 196.115
Appeal from decision of Columbia River Gorge Commission or county 196.120
Exercise of eminent domain 196.125
Buffer by regulation around Columbia River Gorge National Scenic Area prohibited 196.150
Compact provisions 196.155
Authority for state officers and agencies to carry out duties under compact 196.160
Membership on Columbia River Gorge Commission 196.165
Status of commission employees for purposes of certain benefits 196.175
Pacific Ocean Resources Compact ratified 196.180
Compact provisions 196.185
Representation on compact 196.200
Definitions for ORS 196.200 to 196.240 and 196.993 196.205
Establishment of Willamette Falls Locks Authority as independent public corporation 196.210
Membership of authority 196.215
Executive director 196.220
Powers and duties of authority 196.225
Creation of tax-exempt entity by authority 196.230
Revenue bonds issued by authority 196.235
Financing agreements 196.240
Audits 196.405
Definitions for ORS 196.405 to 196.515 196.407
Policy 196.408
Duties of state agencies 196.410
Legislative findings for offshore oil and gas leasing 196.415
Legislative findings for ocean resources management 196.420
Policy 196.425
Oregon Ocean Resources Management Program 196.435
Primary agency for certain federal purposes 196.438
Ocean Policy Advisory Council 196.443
Duties of council 196.448
Member compensation 196.451
Technical advisory committee 196.453
Project review panels 196.455
Coordination with federal programs 196.465
Compatibility of acknowledged comprehensive plans 196.471
Territorial Sea Plan review requirements 196.485
State agency coordination requirements 196.515
Short title 196.540
Marine reserves 196.542
Limitation on ability of State Fish and Wildlife Commission to adopt prohibitions on fishing by rule 196.545
Work plan 196.550
Funding 196.555
Reporting 196.565
Oregon Ocean Science Trust 196.566
Trust duties 196.567
Oregon Ocean Science Fund 196.568
Reimbursement from fund 196.569
Report 196.570
Agreements between Oregon Ocean Science Trust and private organizations 196.571
Policy 196.572
Oregon Coordinating Council on Ocean Acidification and Hypoxia 196.573
Council duties 196.575
Authorization to obtain federal oceanographic data 196.580
Liaison program duties 196.583
Requirement to share geological data regarding territorial sea floor 196.600
Definitions for ORS 196.600 to 196.655 196.605
Purpose 196.610
Powers of Director of Department of State Lands 196.615
Program for mitigation banks 196.620
Resource values and credits for mitigation banks 196.623
Watershed enhancement project as mitigation bank 196.625
Fill and removal activities in mitigation banks 196.630
Rules 196.635
Director to consult and cooperate with other agencies and interested parties 196.640
Oregon Removal-Fill Mitigation Fund 196.643
Payments to comply with permit condition, authorization or resolution of violation 196.645
Sources of fund 196.650
Use of fund 196.655
Report on Oregon Removal-Fill Mitigation Fund 196.660
Effect of ORS 196.600 to 196.655 196.665
Short title 196.668
Legislative findings 196.672
Policy 196.674
Statewide Wetlands Inventory 196.676
Response to notices from local governments 196.678
Wetland conservation plans 196.681
Duties of department 196.682
Permits required for removal or fill 196.684
Amendment of plans 196.686
Acknowledged estuary management plans 196.687
Regulation of alteration or fill of artificially created wetlands 196.688
Public information program 196.692
Rules 196.795
Streamlining process for administering state removal or fill permits 196.800
Definitions for ORS 196.600 to 196.921 196.805
Policy 196.810
Permit for removal of material from or fill of waters 196.812
Large woody debris 196.815
Application for permit 196.816
General permits allowing removal of certain amount of material for maintaining drainage 196.817
General permits 196.818
Wetland delineation reports 196.820
Prohibition against issuance of permits to fill Smith Lake or Bybee Lake 196.825
Criteria for issuance of permit 196.830
Estuarine resource replacement as condition for fill or removal from estuary 196.835
Hearing regarding issuance of permit 196.845
Investigations and surveys 196.850
Waiving permit requirement in certain cases 196.855
Noncomplying removal of material or filling as public nuisance 196.860
Enforcement powers of director 196.865
Revocation, suspension or refusal to renew permit 196.870
Abatement proceedings 196.875
Double and treble damages for destruction of public right of navigation, fishery or recreation 196.880
Fill under permit presumed not to affect public rights 196.885
Annual report of fill and removal activities 196.890
Civil penalties 196.895
Imposition of civil penalties 196.900
Schedule of civil penalties 196.906
Legislative findings and declarations 196.909
Definitions 196.911
Maintenance without permit 196.913
Prohibitions 196.915
State agencies’ review and responses to notice 196.917
Notice of violation 196.919
Memoranda of understanding 196.921
Applicability 196.931
Monitoring fill and removal activities 196.990
Penalties for unpermitted removal from or filling of waters 196.993
Penalties for unauthorized use of Willamette Falls Locks
Green check means up to date. Up to date

Current through early 2024

§ 196.235’s source at oregon​.gov