ORS 280.432
Limitations on housing loans from bond proceeds

  • discrimination
  • relocation
  • conversion

(1)

Cities, in purchasing or servicing or making commitments to purchase or service residential mortgage loans under ORS 280.430 (Contractual powers of city) (5), shall not participate in the refinancing of housing by existent owners or purchasers of that housing and shall not allow the assumption of those loans by persons not eligible for them.

(2)

No owner-purchaser shall have more than one mortgage loan under ORS 280.430 (Contractual powers of city) (5) outstanding at any time.

(3)

No city shall make or participate in the making of a mortgage loan to a multiple unit residential housing project under ORS 280.425 (City powers concerning property) (3) unless the housing sponsor has agreed to not discriminate against any dwelling unit purchaser or tenant who is a parent or legal guardian with whom a child resides or is expected to reside. This subsection shall not apply to housing projects occupied exclusively by households, the heads of which are 62 years of age or older.

(4)

Regardless of the ownership of property used for a multiple unit housing project financed under ORS 280.425 (City powers concerning property) (3), a city shall, in financing the project, provide a plan for relocation of displaced persons.

(5)

A city shall not finance projects under ORS 280.425 (City powers concerning property) (3) which result in the conversion of existing occupied residential rental units to cooperative or condominium projects. [1979 c.865 §2d]

Source: Section 280.432 — Limitations on housing loans from bond proceeds; discrimination; relocation; conversion, https://www.­oregonlegislature.­gov/bills_laws/ors/ors280.­html.

280.040
Definitions for ORS 280.040 to 280.145 280.050
Providing funds for financing cost of services, projects, property and equipment 280.055
Obtaining and advancing of funds to county service districts 280.057
Local option taxes for community colleges 280.060
Levy of local option taxes outside constitutional limitation 280.064
Period for use of revenues raised by local option tax 280.070
Manner of holding elections for local option tax or permanent rate limit 280.075
Ballot statements for local option tax measures 280.080
Contents of order, resolution or ordinance calling election 280.090
Submission of several proposals to impose local option taxes 280.145
Serial levy under former law 280.150
Appropriating money and issuing bonds to construct, operate and maintain joint facilities 280.410
Definitions for ORS 280.410 to 280.485 280.415
Legislative findings 280.420
Eligibility of projects for financing 280.422
Exception to eligibility standards 280.424
Bond-financed single room occupancy rental housing to conform with federal law 280.425
City powers concerning property 280.430
Contractual powers of city 280.431
Required condition of purchase for low income single room occupancy housing project 280.432
Limitations on housing loans from bond proceeds 280.435
Limitation on city power 280.440
Authority to issue revenue bonds 280.445
Factors considered in determining whether to issue bonds 280.450
Issuance of bonds 280.455
Administrative expenses 280.460
Refunding bonds 280.465
Validity of bonds 280.470
Covenants in bonds allowed 280.475
Limitations of bonds 280.480
Powers and rights of bondholders 280.482
Report required 280.485
Effect of ORS 280.410 to 280.485 on powers of city 280.500
County economic development plan 280.505
Coordination of plan with other local governments and plans 280.508
County public purpose revolving loan fund 280.518
Display of information that program is financed by State Lottery
Green check means up to date. Up to date

Current through early 2024

§ 280.432’s source at oregon​.gov