ORS 283.085
Definitions for ORS 283.085 to 283.092
(1)
“Available funds” means funds appropriated or otherwise made available by the Legislative Assembly to pay amounts due under a financing agreement for the fiscal period in which the payments are due, unexpended proceeds of the financing agreement and reserves or other amounts that have been deposited in trust to pay amounts due under the financing agreement.(2)
“Credit enhancement agreement” means any agreement or contractual relationship between the state 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 authorized by ORS 283.085 (Definitions for ORS 283.085 to 283.092) to 283.092 (Effect of financing agreement on tax status).(3)
“Financing agreement” means a lease purchase agreement, an installment sale agreement, a loan agreement or any other agreement:(a)
To finance real or personal property that is or will be owned and operated by the state or any of its agencies;(b)
To finance infrastructure, including but not limited to telecommunications systems, systems for water, sewage, electricity, steam or natural gas and other equipment or improvements that are necessary or appropriate to support a facility that is, or will be, owned or operated by the state;(c)
To finance infrastructure components that are, or will be, owned or operated by a local government agency of this state if the Director of the Oregon Department of Administrative Services determines that financing the infrastructure facilitates the construction or operation of an adult or juvenile corrections facility or a public safety training facility owned or operated by the state or any of its agencies;(d)
To finance all or a portion of the state’s pension liabilities for retirement, health care or disability benefits, in an amount that produces net proceeds that do not exceed the State Treasurer’s estimate of those liabilities based on information provided to the State Treasurer by the Public Employees Retirement System;(e)
To finance:(A)
The release of all or a portion of the Elliott State Forest from restrictions resulting from ownership of that forest by the Common School Fund; or(B)
Compensation paid to the Common School Fund for the preservation of noneconomic benefits of the forest through the imposition, transfer or sale of restrictions such as easements, use requirements or other methods that preserve noneconomic benefits of the forest for the public, including recreation, aesthetics, wildlife or habitat preservation or other environmental and quality of life considerations; or(f)
To refinance previously executed financing agreements.(4)
“Financing costs” means costs or expenses that the director determines are necessary or desirable in connection with entering into financing agreements and maintaining the certificate of participation program, including but not limited to payment of:(a)
Amounts due under financing agreements;(b)
Costs and obligations the director or any other agency of the state incurs in connection with the exercise of a power granted by ORS 283.085 (Definitions for ORS 283.085 to 283.092) to 283.092 (Effect of financing agreement on tax status); and(c)
Amounts due in connection with the investment of proceeds of financing agreements.(5)
“Personal property” means tangible personal property, software and fixtures.(6)
“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 under a lease authorized by ORS 283.089 (Authority of Director of Oregon Department of Administrative Services regarding financing agreements) (1)(e).(7)
“Software” means software and training and maintenance contracts related to the operation of computing equipment. [1989 c.1032 §1; 1993 c.500 §39; 1997 c.715 §3; 2001 c.718 §3; 2003 c.746 §9; 2007 c.783 §94; 2013 c.767 §3; 2017 c.570 §8]
Source:
Section 283.085 — Definitions for ORS 283.085 to 283.092, https://www.oregonlegislature.gov/bills_laws/ors/ors283.html.
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