State Borrowing

ORS 286A.100
Definitions for ORS 286A

As used in this section and ORS 286A.102 (Lien of a pledge):


“Obligation” means:


A bond;


An agreement for exchange of interest rates with the State of Oregon; or


A credit enhancement device given as additional security for a bond.


“Pledge” means:


To create a security interest in or a lien on property to secure payment or performance of an obligation, by mortgaging, assigning or encumbering property or by creating a security interest in property by any other manner.


A security interest in or lien on property created under paragraph (a) of this subsection.


“Pledgee” means:


A trustee for the holder of an obligation; or


The holder of an obligation if a trustee was not appointed in the operative document or if the operative document authorizes the holder of an obligation to foreclose the lien of a pledge and enforce the remedies consequent to the pledge in lieu of the trustee.


“Property” means:


Real or personal property, tangible or intangible, whether owned when the pledge is made or acquired subsequently to the time the pledge is made; and


Revenues, contract rights, receivables or securities. [2007 c.783 §17; 2009 c.537 §8]


Last accessed
May 30, 2023