ORS 286A.830
Definitions for ORS 286A.830 to 286A.863
(1)
“Article XI-F(1) bonds” means bonds issued under the authority of Article XI-F(1) of the Oregon Constitution for the benefit of a public university.(2)
“Article XI-G bonds” means bonds issued under the authority of Article XI-G of the Oregon Constitution for the benefit of a public university or a community college.(3)
“Bond-related costs” means:(a)
The costs of paying the principal of, the interest on and the premium, if any, on higher education bonds;(b)
The costs and expenses of issuing, administering and maintaining higher education bonds including, but not limited to:(A)
Costs and expenses of redeeming higher education bonds;(B)
Amounts due in connection with credit enhancement devices or agreements for exchange of interest rates; and(C)
Fees, administrative costs and expenses of the State Treasurer, the Oregon Department of Administrative Services or the Higher Education Coordinating Commission, including the costs of consultants or advisers retained by the State Treasurer, the department or the commission;(c)
The costs of funding reserves for the higher education bonds;(d)
Capitalized interest for the higher education bonds;(e)
Rebates or penalties due to the United States in connection with the higher education bonds;(f)
Expenses and liabilities arising from an inquiry, audit or other action relating to the higher education bonds by a federal or state regulatory body, including, but not limited to, legal expenses; and(g)
Any other costs or expenses that the State Treasurer, the department or the commission determines are necessary or desirable in connection with issuing and maintaining the higher education bonds.(4)
“Community college” means a community college or community college district as defined in ORS 341.005 (Definitions for chapter).(5)
“Federal tax benefit” means the excludability of interest on higher education bonds from gross income under the Internal Revenue Code, the qualification of higher education bonds for any federal interest subsidy payment or any other tax-advantaged status granted under the Internal Revenue Code.(6)
“Grant contract” means a contract approved by the department and executed by a public university or community college and the commission that establishes the terms and conditions for issuance of Article XI-G bonds and the disbursement of proceeds to the public university or community college.(7)
“Higher education bonds” means Article XI-F(1) bonds and Article XI-G bonds.(8)
“Higher Education Coordinating Commission” includes all offices that function under the direction and control of the commission.(9)
“Loan agreement” means a contract approved by the department and executed by a public university and the commission that establishes the terms and conditions for issuance of Article XI-F(1) bonds, lending of bond proceeds and loan repayment.(10)
“Loan repayment schedule” means the schedule of repayment of loans made with proceeds of Article XI-F(1) bonds that a public university is obligated to make to the State of Oregon pursuant to a loan agreement.(11)
“Matching amount” means moneys unconditionally available to a public university or community college for the same or similar purposes as the proceeds of Article XI-G bonds issued for the benefit of the public university or community college and meeting the requirements set forth in Article XI-G, section 1 (3), of the Oregon Constitution.(12)
“Public university” means any institution established as a public university under ORS 352.002 (Public universities).(13)
“Refunding bond” means an Article XI-F(1) bond issued for the purpose of refunding an outstanding Article XI-F(1) bond, or an Article XI-G bond issued for the purpose of refunding an outstanding Article XI-G bond, regardless of whether the refunding is on a current, advance, forward delivery, synthetic or other basis.(14)
“Revenue sufficiency” means the condition of having revenues, not including amounts appropriated by the Legislative Assembly from the General Fund, that are conservatively estimated to be lawfully available and sufficient to pay debt service on particular Article XI-F(1) bonds and operate the projects financed with the proceeds of those Article XI-F(1) bonds. [2015 c.828 §2; 2016 c.66 §9; 2017 c.9 §9]
Source:
Section 286A.830 — Definitions for ORS 286A.830 to 286A.863, https://www.oregonlegislature.gov/bills_laws/ors/ors286A.html.
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