ORS 285B.482
Revenue bonds as parity bonds
- consolidation of bond proceeds
- loans and consolidated funds as security for water or development projects
(1)
Notwithstanding any other law relating to revenue bonds issued and sold under ORS 285B.467 (Oregon Infrastructure Finance Authority to determine eligibility for revenue bond financing) to 285B.479 (Nature of revenue bonds) or ORS 285B.572 (Eligibility of project for revenue bond financing), 285B.575 (Issuance of revenue bonds) and 285B.578 (Nature of revenue bonds), revenue bonds may be issued and sold as parity bonds.(2)
Proceeds of revenue bonds issued and sold under ORS 285B.467 (Oregon Infrastructure Finance Authority to determine eligibility for revenue bond financing) to 285B.479 (Nature of revenue bonds) or ORS 285B.572 (Eligibility of project for revenue bond financing), 285B.575 (Issuance of revenue bonds) and 285B.578 (Nature of revenue bonds), together with the investment earnings thereon, may be consolidated into one or more funds or accounts and may be pledged to the holders of revenue bonds issued to finance water projects, as defined in ORS 285B.560 (Definitions for ORS 285B.560 to 285B.599), or development projects.(3)
Any loan to a municipality made pursuant to ORS 285B.467 (Oregon Infrastructure Finance Authority to determine eligibility for revenue bond financing) to 285B.479 (Nature of revenue bonds), 285B.560 (Definitions for ORS 285B.560 to 285B.599) to 285B.569 (When constitutional restrictions apply to use of certain funds) or 285B.572 (Eligibility of project for revenue bond financing) to 285B.599 (Effect of failure to repay to Water Fund), including loans funded in whole or in part with the proceeds of revenue bonds and loans funded with moneys in the Water Fund or the Special Public Works Fund, may be pledged to the holders of revenue bonds issued to finance water projects or development projects.(4)
Funds or accounts established by the Oregon Business Development Department or the State Treasurer in connection with the issuance of revenue bonds under ORS 285B.467 (Oregon Infrastructure Finance Authority to determine eligibility for revenue bond financing) to 285B.479 (Nature of revenue bonds) or ORS 285B.572 (Eligibility of project for revenue bond financing), 285B.575 (Issuance of revenue bonds) and 285B.578 (Nature of revenue bonds) and moneys held in the funds and accounts, together with the investment earnings thereon, may be consolidated into one or more funds or accounts and may be pledged to the holders of revenue bonds issued to finance water projects or development projects. [1997 c.800 §14; 2003 c.773 §49; 2005 c.835 §19; 2007 c.804 §35; 2009 c.830 §109](2)
The fund consists of:(a)
Moneys allocated to the Oregon Business Development Department under section 3 (4), chapter 670, Oregon Laws 2019;(b)
Moneys appropriated, allocated, deposited or transferred to the fund by the Legislative Assembly or otherwise;(c)
Repayments, including interest, of disbursements from the fund;(d)
Moneys received for deposit in the fund from the federal government, state agencies or local governments; and(e)
Interest earned on moneys in the fund.(3)
The moneys in the fund are continuously appropriated to the department for the purposes specified in section 22 of this 2020 second special session Act. [2020 s.s.2 c.10 §21](a)
Provide grants or loans to plan or construct tide gates, culverts and associated drainage infrastructure;(b)
Obtain professional services for tide gate coordination or for technical studies that have a statewide benefit for tide gate project development; or(c)
Pay administrative expenses of the department incurred in carrying out the provisions of this section, including costs of investigating and processing an application, developing contracts, monitoring use of grants or loans by a recipient, investigating and resolving budget discrepancies, closing a project and providing financial and other assistance associated with expenditures from the fund.(2)
The department shall adopt rules necessary to carry out the provisions of this section. [2020 s.s.2 c.10 §22]
Source:
Section 285B.482 — Revenue bonds as parity bonds; consolidation of bond proceeds; loans and consolidated funds as security for water or development projects, https://www.oregonlegislature.gov/bills_laws/ors/ors285B.html (accessed May 26, 2025).