Transportation Financing

ORS 367.010
Definitions for chapter

As used in this chapter:


“Agency” means any department, agency or commission of the State of Oregon.


“Bond” means an evidence of indebtedness including, but not limited to, a bond, a note, an obligation, a loan agreement, a financing lease, a financing agreement or other similar instrument or agreement.


“Bond debt service” means payment of:


Principal, interest, premium, if any, or purchase price of a bond;


Amounts due to a credit enhancement provider, trustee, paying agent or remarketing agent authorized by this chapter;


Amounts necessary to fund bond debt service reserves; and


Amounts due under an agreement for exchange of interest rates if designated by the State Treasurer or the Department of Transportation.


“Credit enhancement” means a credit enhancement device, as defined in ORS 286A.001 (Definitions for ORS chapter 286A).


“Financial institution” means a banking institution, a financial institution or a non-Oregon institution, as those terms are defined in ORS 706.008 (Additional definitions for Bank Act), and any other institution defined by rule of the Oregon Transportation Commission as a financial institution for purposes of ORS 367.010 (Definitions for chapter) to 367.067 (Short Line Credit Premium Account).


“Infrastructure assistance” means any use of moneys in the Oregon Transportation Infrastructure Fund, other than an infrastructure loan, to provide financial assistance for transportation projects. The term includes, but is not limited to, use of moneys in the infrastructure fund to finance leases, fund reserves, make grants, pay issuance costs or provide credit enhancement or other security for bonds issued by a public entity to finance transportation projects.


“Infrastructure bonds” means bonds authorized by ORS 367.030 (Issuance of revenue bonds), 367.555 (Authority to issue general obligation bonds) to 367.600 (Compliance with constitutional debt limits) or 367.605 (Source of funds to secure Highway User Tax Bonds) to 367.665 (Interest on bonds exempt from state income tax) that are issued to fund infrastructure loans and the proceeds of which are deposited in the infrastructure fund.


“Infrastructure fund” means the Oregon Transportation Infrastructure Fund.


“Infrastructure loan” means a loan of moneys in the infrastructure fund to finance a transportation project.


“Municipality” means a city, county, road district, school district, special district, metropolitan service district, the Port of Portland or an intergovernmental entity organized under ORS 190.010 (Authority of local governments to make intergovernmental agreement).


“Transportation project” means any project or undertaking that facilitates any mode of transportation within this state. The term includes, but is not limited to, a project for highway, transit, rail and aviation capital infrastructure, bicycle and pedestrian paths, bridges and ways, and other projects that facilitate the transportation of materials, animals or people. [1997 c.679 §1; 1999 c.1036 §3; 2003 c.201 §11; 2007 c.783 §161]


Last accessed
Jun. 26, 2021