ORS 285B.413
Legislative findings
- purpose
- use of moneys
- rules
(1)
The Legislative Assembly finds that:(a)
The improvement, expansion and new construction of the state’s infrastructure systems provide the basic framework for continuing and expanding economic activity in this state, thereby improving the quality of life and economic opportunity for the people of Oregon.(b)
It is essential to maintain usable and developable industrial and commercial lands in Oregon.(2)
Because municipalities in this state often suffer from a lack of available financing and technical capacity for these projects, it is the purpose of ORS 285B.410 (Definitions for ORS 285B.410 to 285B.482) to 285B.482 (Revenue bonds as parity bonds) to provide financial or other assistance to enable municipalities to construct, improve and repair those facilities that are essential for supporting continuing and expanded economic activity. It is the intent of the Legislative Assembly, by providing that assistance, to stimulate industrial growth and commercial enterprise and to promote employment opportunities in Oregon.(3)
Moneys in the Special Public Works Fund shall be used primarily to provide loans to municipalities for development and planning projects. Grants shall be given only when loans are not feasible due to the financial need of the municipality or under circumstances that the Oregon Business Development Department specifies by administrative rule. The Oregon Infrastructure Finance Authority is authorized to determine the level of grant or loan funding, if any, on a case-by-case basis. [Formerly 285.703; 2001 c.883 §27a; 2003 c.773 §28; 2005 c.835 §3; 2009 c.830 §94]
Source:
Section 285B.413 — Legislative findings; purpose; use of moneys; rules, https://www.oregonlegislature.gov/bills_laws/ors/ors285B.html.
Up to date