State Codes and Statutes

Statutes > Oregon > Vol7 > 286a

Chapter 286A — StateBorrowing

 

2009 EDITION

 

STATEBORROWING

 

PUBLICBORROWING

 

DEFINITIONS

 

286A.001  Definitionsfor ORS chapter 286A

 

DUTIESOF STATE TREASURER

 

286A.005  Authorityof State Treasurer to issue bonds

 

286A.010  Informationrequired by State Treasurer

 

286A.014  Feesand expenses of State Treasurer; rules

 

286A.015  Paymentof expenses of State Treasurer

 

286A.016  Dispositionof charges

 

AUTHORITYFOR BORROWING

 

286A.025  Issuanceand sale of bonds

 

286A.035  Bondbudget authorization

 

286A.045  Borrowingfor current expenses

 

286A.050  ShortTerm Borrowing Account; sources; uses

 

286A.055  Reportby State Treasurer on amount of bonds issued, amounts repaid, costs andinterest earned

 

286A.095  Compliancewith constitutional or statutory debt limit

 

ADMINISTRATIONOF BONDS

 

286A.100  Definitionsfor ORS 286A.100 and 286A.102

 

286A.102  Lienof a pledge; Uniform Commercial Code

 

286A.110  Agreementsfor exchange of interest rates

 

286A.118  Terminationpayment of conduit borrower

 

286A.120  Creditenhancement devices

 

286A.123  Agencypurchase of own bonds

 

286A.130  Bondcounsel services; financial advisory services; Public Contracting Code

 

286A.132  Debt-relatedadvisory services

 

286A.140  Statetaxation of bond interest

 

286A.145  Federaltaxation of bond interest; rules

 

286A.160  Exceptionto expenditure limits for repaying obligations; administrative limits; reports

 

286A.185  Cancellation,purchase or redemption of bonds; lost or destroyed evidence of bonds; rules

 

286A.190  Disclosureof bond ownership

 

286A.195  Financialaudit of bond programs

 

286A.250  StateDebt Policy Advisory Commission; membership; compensation; quorum; meetings;personnel

 

286A.255  Functionsand duties of commission

 

LOTTERYBONDS

 

286A.560  Definitionsfor ORS 286A.560 to 286A.585 and 327.700 to 327.711

 

286A.563  Purposes;nature of lottery bonds

 

286A.566  Requirementsfor legislation authorizing lottery bonds

 

286A.570  LotteryBond Fund; purposes

 

286A.573  LotteryBond Administrative Fund; purposes

 

286A.576  Allocationof lottery moneys for lottery bonds; priorities

 

286A.578  Litigationchallenging legality of Oregon State Lottery

 

286A.580  Issuanceof lottery bonds; refunding bonds; bond covenants; reserves for bonds;appropriation to maintain reserves; credit enhancements

 

286A.585  Lotterybonds for community sports facilities; use of proceeds of bonds

 

PRIVATEACTIVITY BONDS

 

286A.605  Definitionsfor ORS 286A.605 to 286A.625

 

286A.615  PrivateActivity Bond Committee; purpose of private activity bonding; rules

 

286A.620  Privateactivity bond volume cap

 

286A.625  StateTreasurer to maintain records

 

286A.630  Reallocationof private activity bond cap; rules

 

BACCALAUREATEBONDS

 

286A.700  Authorityto issue baccalaureate bonds

 

WATERPOWER BONDS

 

286A.710  Definitionsfor ORS 286A.710 to 286A.720

 

286A.712  Authorityof State Treasurer to issue bonds

 

286A.714  ArticleXI-D Bond Fund; purposes

 

286A.716  ArticleXI-D Bond Administration Fund; purposes

 

286A.718  RenewableEnergy Fund; purposes; rules

 

286A.720  Budgetrequest; Article XI-D bond-related costs

 

PENSIONLIABILITY BONDS

 

286A.730  Definitionsfor ORS 286A.730 to 286A.750

 

286A.735  Authorityof State Treasurer to issue pension liability bonds; nature and purpose ofbonds; refunding bonds

 

286A.740  ArticleXI-O Bond Fund; purposes

 

286A.745  ArticleXI-O Bond Administration Fund; purposes

 

286A.750  Termsand conditions of pension liability bonds

 

SEISMICREHABILITATION BONDS

 

(PublicEducation Buildings)

 

286A.760  Definitionsfor ORS 286A.760 to 286A.772

 

286A.762  Authorityof State Treasurer to issue bonds

 

286A.764  ArticleXI-M Bond Fund; purposes

 

286A.766  ArticleXI-M Bond Administration Fund; purposes

 

286A.768  EducationSeismic Fund; purposes; rules

 

286A.772  Paymentof bond-related costs

 

(EmergencyServices Buildings)

 

286A.780  Definitionsfor ORS 286A.780 to 286A.792

 

286A.782  Authorityof State Treasurer to issue bonds

 

286A.784  ArticleXI-N Bond Fund; purposes

 

286A.786  ArticleXI-N Bond Administration Fund; purposes

 

286A.788  EmergencyServices Seismic Fund; purposes; rules; fees

 

286A.792  Paymentof bond-related costs

 

DEFINITIONS

 

      286A.001Definitions for ORS chapter 286A. As used in this chapter:

      (1)“Agreement for exchange of interest rates” means a contract, or an option orforward commitment to enter into a contract, for the exchange of interest ratesthat provides for:

      (a)Payments based on levels of or changes in interest rates; or

      (b)Provisions to hedge payment, rate, spread or similar exposure including, butnot limited to, an interest rate floor or cap or an option, put or call.

      (2)“Bond”:

      (a)Means a contractual undertaking or instrument of the State of Oregon to repayborrowed moneys.

      (b)Does not mean a financing agreement, as defined in ORS 283.085, if theprincipal amount of the agreement is $100,000 or less, or a credit enhancementdevice.

      (3)“Counterparty” means an entity with whom the State of Oregon enters into anagreement for exchange of interest rates.

      (4)“Credit enhancement device”:

      (a)Means a letter of credit, line of credit, standby bond purchase agreement, bondinsurance policy, reserve surety bond or other device or facility used toenhance the creditworthiness, liquidity or marketability of bonds or agreementsfor the exchange of interest rates; and

      (b)Does not mean a bond.

      (5)“Credit enhancement device fee” means a payment required to be made to theprovider of a credit enhancement device securing a bond or securing anagreement for the exchange of interest rates.

      (6)“General obligation bond” means a bond that constitutes indebtedness of thestate under section 7, Article XI of the Oregon Constitution, and that isexempt from the $50,000 limitation on indebtedness set forth in that section.

      (7)“Operative document” means a bond declaration, trust agreement, indenture,security agreement or other document in which the State of Oregon pledgesproperty as security for an obligation, as defined in ORS 286A.100.

      (8)“Refunding bond” means a bond of the State of Oregon that is issued to refundanother bond, regardless of whether the refunding is on a current, advance,forward delivery, synthetic or other basis.

      (9)“Related agency” means the state agency that requests the State Treasurer toissue bonds pursuant to ORS 286A.025 or for which the State Treasurer hasissued bonds.

      (10)“Related bond” means a bond for which the State of Oregon enters into anagreement for exchange of interest rates.

      (11)“Revenue” means all fees, tolls, excise taxes, assessments, property taxes andother taxes, rates, charges, rentals and other income or receipts derived by astate agency or to which a state agency is entitled.

      (12)“Revenue bond” means a bond of the State of Oregon that is not a generalobligation bond.

      (13)“State agency”:

      (a)Includes a statewide elected officer, board, commission, department, division,authority or other entity, without regard to the designation given to theentity, that is within state government, as defined in ORS 174.111; and

      (b)Does not include:

      (A)A statewide elected judge;

      (B)The State Treasurer;

      (C)A local government, as defined in ORS 174.116;

      (D)The Oregon Health and Science University;

      (E)A special government body, as defined in ORS 174.117, except to the extent aspecial government body must be considered a state agency in order to achievethe purposes of Article XI-K of the Oregon Constitution; or

      (F)A semi-independent state agency listed in ORS 182.454, 377.835 or 674.305, orany other state agency denominated by statute as a semi-independent stateagency.

      (14)“Termination payment” means the amount payable under an agreement for exchangeof interest rates by one party to another party as a result of the termination,in whole or part, of the agreement prior to the expiration of the stated term. [2007c.783 §2; 2009 c.537 §7]

 

DUTIESOF STATE TREASURER

 

      286A.005Authority of State Treasurer to issue bonds. (1) The State Treasurer shallissue and sign bonds of the State of Oregon. The State Treasurer may sign abond by manual or facsimile signature.

      (2)Unless otherwise authorized by law other than this section, the State Treasurermay issue bonds only if a related agency has requested that the bonds beissued.

      (3)In determining whether to issue bonds, the State Treasurer shall consider:

      (a)The bond market for the type of bonds proposed for issuance;

      (b)The terms and conditions of the proposed issue; and

      (c)Other relevant factors that the State Treasurer considers necessary to protectthe financial integrity of the State of Oregon.

      (4)The State Treasurer may sell bonds for more than one related agency or for morethan one purpose in a single sale or in combination with the sale of otherbonds.

      (5)The State Treasurer is an applicable elected representative for the purpose ofapproving the issuance of bonds when approval is required under sect

State Codes and Statutes

Statutes > Oregon > Vol7 > 286a

Chapter 286A — StateBorrowing

 

2009 EDITION

 

STATEBORROWING

 

PUBLICBORROWING

 

DEFINITIONS

 

286A.001  Definitionsfor ORS chapter 286A

 

DUTIESOF STATE TREASURER

 

286A.005  Authorityof State Treasurer to issue bonds

 

286A.010  Informationrequired by State Treasurer

 

286A.014  Feesand expenses of State Treasurer; rules

 

286A.015  Paymentof expenses of State Treasurer

 

286A.016  Dispositionof charges

 

AUTHORITYFOR BORROWING

 

286A.025  Issuanceand sale of bonds

 

286A.035  Bondbudget authorization

 

286A.045  Borrowingfor current expenses

 

286A.050  ShortTerm Borrowing Account; sources; uses

 

286A.055  Reportby State Treasurer on amount of bonds issued, amounts repaid, costs andinterest earned

 

286A.095  Compliancewith constitutional or statutory debt limit

 

ADMINISTRATIONOF BONDS

 

286A.100  Definitionsfor ORS 286A.100 and 286A.102

 

286A.102  Lienof a pledge; Uniform Commercial Code

 

286A.110  Agreementsfor exchange of interest rates

 

286A.118  Terminationpayment of conduit borrower

 

286A.120  Creditenhancement devices

 

286A.123  Agencypurchase of own bonds

 

286A.130  Bondcounsel services; financial advisory services; Public Contracting Code

 

286A.132  Debt-relatedadvisory services

 

286A.140  Statetaxation of bond interest

 

286A.145  Federaltaxation of bond interest; rules

 

286A.160  Exceptionto expenditure limits for repaying obligations; administrative limits; reports

 

286A.185  Cancellation,purchase or redemption of bonds; lost or destroyed evidence of bonds; rules

 

286A.190  Disclosureof bond ownership

 

286A.195  Financialaudit of bond programs

 

286A.250  StateDebt Policy Advisory Commission; membership; compensation; quorum; meetings;personnel

 

286A.255  Functionsand duties of commission

 

LOTTERYBONDS

 

286A.560  Definitionsfor ORS 286A.560 to 286A.585 and 327.700 to 327.711

 

286A.563  Purposes;nature of lottery bonds

 

286A.566  Requirementsfor legislation authorizing lottery bonds

 

286A.570  LotteryBond Fund; purposes

 

286A.573  LotteryBond Administrative Fund; purposes

 

286A.576  Allocationof lottery moneys for lottery bonds; priorities

 

286A.578  Litigationchallenging legality of Oregon State Lottery

 

286A.580  Issuanceof lottery bonds; refunding bonds; bond covenants; reserves for bonds;appropriation to maintain reserves; credit enhancements

 

286A.585  Lotterybonds for community sports facilities; use of proceeds of bonds

 

PRIVATEACTIVITY BONDS

 

286A.605  Definitionsfor ORS 286A.605 to 286A.625

 

286A.615  PrivateActivity Bond Committee; purpose of private activity bonding; rules

 

286A.620  Privateactivity bond volume cap

 

286A.625  StateTreasurer to maintain records

 

286A.630  Reallocationof private activity bond cap; rules

 

BACCALAUREATEBONDS

 

286A.700  Authorityto issue baccalaureate bonds

 

WATERPOWER BONDS

 

286A.710  Definitionsfor ORS 286A.710 to 286A.720

 

286A.712  Authorityof State Treasurer to issue bonds

 

286A.714  ArticleXI-D Bond Fund; purposes

 

286A.716  ArticleXI-D Bond Administration Fund; purposes

 

286A.718  RenewableEnergy Fund; purposes; rules

 

286A.720  Budgetrequest; Article XI-D bond-related costs

 

PENSIONLIABILITY BONDS

 

286A.730  Definitionsfor ORS 286A.730 to 286A.750

 

286A.735  Authorityof State Treasurer to issue pension liability bonds; nature and purpose ofbonds; refunding bonds

 

286A.740  ArticleXI-O Bond Fund; purposes

 

286A.745  ArticleXI-O Bond Administration Fund; purposes

 

286A.750  Termsand conditions of pension liability bonds

 

SEISMICREHABILITATION BONDS

 

(PublicEducation Buildings)

 

286A.760  Definitionsfor ORS 286A.760 to 286A.772

 

286A.762  Authorityof State Treasurer to issue bonds

 

286A.764  ArticleXI-M Bond Fund; purposes

 

286A.766  ArticleXI-M Bond Administration Fund; purposes

 

286A.768  EducationSeismic Fund; purposes; rules

 

286A.772  Paymentof bond-related costs

 

(EmergencyServices Buildings)

 

286A.780  Definitionsfor ORS 286A.780 to 286A.792

 

286A.782  Authorityof State Treasurer to issue bonds

 

286A.784  ArticleXI-N Bond Fund; purposes

 

286A.786  ArticleXI-N Bond Administration Fund; purposes

 

286A.788  EmergencyServices Seismic Fund; purposes; rules; fees

 

286A.792  Paymentof bond-related costs

 

DEFINITIONS

 

      286A.001Definitions for ORS chapter 286A. As used in this chapter:

      (1)“Agreement for exchange of interest rates” means a contract, or an option orforward commitment to enter into a contract, for the exchange of interest ratesthat provides for:

      (a)Payments based on levels of or changes in interest rates; or

      (b)Provisions to hedge payment, rate, spread or similar exposure including, butnot limited to, an interest rate floor or cap or an option, put or call.

      (2)“Bond”:

      (a)Means a contractual undertaking or instrument of the State of Oregon to repayborrowed moneys.

      (b)Does not mean a financing agreement, as defined in ORS 283.085, if theprincipal amount of the agreement is $100,000 or less, or a credit enhancementdevice.

      (3)“Counterparty” means an entity with whom the State of Oregon enters into anagreement for exchange of interest rates.

      (4)“Credit enhancement device”:

      (a)Means a letter of credit, line of credit, standby bond purchase agreement, bondinsurance policy, reserve surety bond or other device or facility used toenhance the creditworthiness, liquidity or marketability of bonds or agreementsfor the exchange of interest rates; and

      (b)Does not mean a bond.

      (5)“Credit enhancement device fee” means a payment required to be made to theprovider of a credit enhancement device securing a bond or securing anagreement for the exchange of interest rates.

      (6)“General obligation bond” means a bond that constitutes indebtedness of thestate under section 7, Article XI of the Oregon Constitution, and that isexempt from the $50,000 limitation on indebtedness set forth in that section.

      (7)“Operative document” means a bond declaration, trust agreement, indenture,security agreement or other document in which the State of Oregon pledgesproperty as security for an obligation, as defined in ORS 286A.100.

      (8)“Refunding bond” means a bond of the State of Oregon that is issued to refundanother bond, regardless of whether the refunding is on a current, advance,forward delivery, synthetic or other basis.

      (9)“Related agency” means the state agency that requests the State Treasurer toissue bonds pursuant to ORS 286A.025 or for which the State Treasurer hasissued bonds.

      (10)“Related bond” means a bond for which the State of Oregon enters into anagreement for exchange of interest rates.

      (11)“Revenue” means all fees, tolls, excise taxes, assessments, property taxes andother taxes, rates, charges, rentals and other income or receipts derived by astate agency or to which a state agency is entitled.

      (12)“Revenue bond” means a bond of the State of Oregon that is not a generalobligation bond.

      (13)“State agency”:

      (a)Includes a statewide elected officer, board, commission, department, division,authority or other entity, without regard to the designation given to theentity, that is within state government, as defined in ORS 174.111; and

      (b)Does not include:

      (A)A statewide elected judge;

      (B)The State Treasurer;

      (C)A local government, as defined in ORS 174.116;

      (D)The Oregon Health and Science University;

      (E)A special government body, as defined in ORS 174.117, except to the extent aspecial government body must be considered a state agency in order to achievethe purposes of Article XI-K of the Oregon Constitution; or

      (F)A semi-independent state agency listed in ORS 182.454, 377.835 or 674.305, orany other state agency denominated by statute as a semi-independent stateagency.

      (14)“Termination payment” means the amount payable under an agreement for exchangeof interest rates by one party to another party as a result of the termination,in whole or part, of the agreement prior to the expiration of the stated term. [2007c.783 §2; 2009 c.537 §7]

 

DUTIESOF STATE TREASURER

 

      286A.005Authority of State Treasurer to issue bonds. (1) The State Treasurer shallissue and sign bonds of the State of Oregon. The State Treasurer may sign abond by manual or facsimile signature.

      (2)Unless otherwise authorized by law other than this section, the State Treasurermay issue bonds only if a related agency has requested that the bonds beissued.

      (3)In determining whether to issue bonds, the State Treasurer shall consider:

      (a)The bond market for the type of bonds proposed for issuance;

      (b)The terms and conditions of the proposed issue; and

      (c)Other relevant factors that the State Treasurer considers necessary to protectthe financial integrity of the State of Oregon.

      (4)The State Treasurer may sell bonds for more than one related agency or for morethan one purpose in a single sale or in combination with the sale of otherbonds.

      (5)The State Treasurer is an applicable elected representative for the purpose ofapproving the issuance of bonds when approval is required under sect


State Codes and Statutes

State Codes and Statutes

Statutes > Oregon > Vol7 > 286a

Chapter 286A — StateBorrowing

 

2009 EDITION

 

STATEBORROWING

 

PUBLICBORROWING

 

DEFINITIONS

 

286A.001  Definitionsfor ORS chapter 286A

 

DUTIESOF STATE TREASURER

 

286A.005  Authorityof State Treasurer to issue bonds

 

286A.010  Informationrequired by State Treasurer

 

286A.014  Feesand expenses of State Treasurer; rules

 

286A.015  Paymentof expenses of State Treasurer

 

286A.016  Dispositionof charges

 

AUTHORITYFOR BORROWING

 

286A.025  Issuanceand sale of bonds

 

286A.035  Bondbudget authorization

 

286A.045  Borrowingfor current expenses

 

286A.050  ShortTerm Borrowing Account; sources; uses

 

286A.055  Reportby State Treasurer on amount of bonds issued, amounts repaid, costs andinterest earned

 

286A.095  Compliancewith constitutional or statutory debt limit

 

ADMINISTRATIONOF BONDS

 

286A.100  Definitionsfor ORS 286A.100 and 286A.102

 

286A.102  Lienof a pledge; Uniform Commercial Code

 

286A.110  Agreementsfor exchange of interest rates

 

286A.118  Terminationpayment of conduit borrower

 

286A.120  Creditenhancement devices

 

286A.123  Agencypurchase of own bonds

 

286A.130  Bondcounsel services; financial advisory services; Public Contracting Code

 

286A.132  Debt-relatedadvisory services

 

286A.140  Statetaxation of bond interest

 

286A.145  Federaltaxation of bond interest; rules

 

286A.160  Exceptionto expenditure limits for repaying obligations; administrative limits; reports

 

286A.185  Cancellation,purchase or redemption of bonds; lost or destroyed evidence of bonds; rules

 

286A.190  Disclosureof bond ownership

 

286A.195  Financialaudit of bond programs

 

286A.250  StateDebt Policy Advisory Commission; membership; compensation; quorum; meetings;personnel

 

286A.255  Functionsand duties of commission

 

LOTTERYBONDS

 

286A.560  Definitionsfor ORS 286A.560 to 286A.585 and 327.700 to 327.711

 

286A.563  Purposes;nature of lottery bonds

 

286A.566  Requirementsfor legislation authorizing lottery bonds

 

286A.570  LotteryBond Fund; purposes

 

286A.573  LotteryBond Administrative Fund; purposes

 

286A.576  Allocationof lottery moneys for lottery bonds; priorities

 

286A.578  Litigationchallenging legality of Oregon State Lottery

 

286A.580  Issuanceof lottery bonds; refunding bonds; bond covenants; reserves for bonds;appropriation to maintain reserves; credit enhancements

 

286A.585  Lotterybonds for community sports facilities; use of proceeds of bonds

 

PRIVATEACTIVITY BONDS

 

286A.605  Definitionsfor ORS 286A.605 to 286A.625

 

286A.615  PrivateActivity Bond Committee; purpose of private activity bonding; rules

 

286A.620  Privateactivity bond volume cap

 

286A.625  StateTreasurer to maintain records

 

286A.630  Reallocationof private activity bond cap; rules

 

BACCALAUREATEBONDS

 

286A.700  Authorityto issue baccalaureate bonds

 

WATERPOWER BONDS

 

286A.710  Definitionsfor ORS 286A.710 to 286A.720

 

286A.712  Authorityof State Treasurer to issue bonds

 

286A.714  ArticleXI-D Bond Fund; purposes

 

286A.716  ArticleXI-D Bond Administration Fund; purposes

 

286A.718  RenewableEnergy Fund; purposes; rules

 

286A.720  Budgetrequest; Article XI-D bond-related costs

 

PENSIONLIABILITY BONDS

 

286A.730  Definitionsfor ORS 286A.730 to 286A.750

 

286A.735  Authorityof State Treasurer to issue pension liability bonds; nature and purpose ofbonds; refunding bonds

 

286A.740  ArticleXI-O Bond Fund; purposes

 

286A.745  ArticleXI-O Bond Administration Fund; purposes

 

286A.750  Termsand conditions of pension liability bonds

 

SEISMICREHABILITATION BONDS

 

(PublicEducation Buildings)

 

286A.760  Definitionsfor ORS 286A.760 to 286A.772

 

286A.762  Authorityof State Treasurer to issue bonds

 

286A.764  ArticleXI-M Bond Fund; purposes

 

286A.766  ArticleXI-M Bond Administration Fund; purposes

 

286A.768  EducationSeismic Fund; purposes; rules

 

286A.772  Paymentof bond-related costs

 

(EmergencyServices Buildings)

 

286A.780  Definitionsfor ORS 286A.780 to 286A.792

 

286A.782  Authorityof State Treasurer to issue bonds

 

286A.784  ArticleXI-N Bond Fund; purposes

 

286A.786  ArticleXI-N Bond Administration Fund; purposes

 

286A.788  EmergencyServices Seismic Fund; purposes; rules; fees

 

286A.792  Paymentof bond-related costs

 

DEFINITIONS

 

      286A.001Definitions for ORS chapter 286A. As used in this chapter:

      (1)“Agreement for exchange of interest rates” means a contract, or an option orforward commitment to enter into a contract, for the exchange of interest ratesthat provides for:

      (a)Payments based on levels of or changes in interest rates; or

      (b)Provisions to hedge payment, rate, spread or similar exposure including, butnot limited to, an interest rate floor or cap or an option, put or call.

      (2)“Bond”:

      (a)Means a contractual undertaking or instrument of the State of Oregon to repayborrowed moneys.

      (b)Does not mean a financing agreement, as defined in ORS 283.085, if theprincipal amount of the agreement is $100,000 or less, or a credit enhancementdevice.

      (3)“Counterparty” means an entity with whom the State of Oregon enters into anagreement for exchange of interest rates.

      (4)“Credit enhancement device”:

      (a)Means a letter of credit, line of credit, standby bond purchase agreement, bondinsurance policy, reserve surety bond or other device or facility used toenhance the creditworthiness, liquidity or marketability of bonds or agreementsfor the exchange of interest rates; and

      (b)Does not mean a bond.

      (5)“Credit enhancement device fee” means a payment required to be made to theprovider of a credit enhancement device securing a bond or securing anagreement for the exchange of interest rates.

      (6)“General obligation bond” means a bond that constitutes indebtedness of thestate under section 7, Article XI of the Oregon Constitution, and that isexempt from the $50,000 limitation on indebtedness set forth in that section.

      (7)“Operative document” means a bond declaration, trust agreement, indenture,security agreement or other document in which the State of Oregon pledgesproperty as security for an obligation, as defined in ORS 286A.100.

      (8)“Refunding bond” means a bond of the State of Oregon that is issued to refundanother bond, regardless of whether the refunding is on a current, advance,forward delivery, synthetic or other basis.

      (9)“Related agency” means the state agency that requests the State Treasurer toissue bonds pursuant to ORS 286A.025 or for which the State Treasurer hasissued bonds.

      (10)“Related bond” means a bond for which the State of Oregon enters into anagreement for exchange of interest rates.

      (11)“Revenue” means all fees, tolls, excise taxes, assessments, property taxes andother taxes, rates, charges, rentals and other income or receipts derived by astate agency or to which a state agency is entitled.

      (12)“Revenue bond” means a bond of the State of Oregon that is not a generalobligation bond.

      (13)“State agency”:

      (a)Includes a statewide elected officer, board, commission, department, division,authority or other entity, without regard to the designation given to theentity, that is within state government, as defined in ORS 174.111; and

      (b)Does not include:

      (A)A statewide elected judge;

      (B)The State Treasurer;

      (C)A local government, as defined in ORS 174.116;

      (D)The Oregon Health and Science University;

      (E)A special government body, as defined in ORS 174.117, except to the extent aspecial government body must be considered a state agency in order to achievethe purposes of Article XI-K of the Oregon Constitution; or

      (F)A semi-independent state agency listed in ORS 182.454, 377.835 or 674.305, orany other state agency denominated by statute as a semi-independent stateagency.

      (14)“Termination payment” means the amount payable under an agreement for exchangeof interest rates by one party to another party as a result of the termination,in whole or part, of the agreement prior to the expiration of the stated term. [2007c.783 §2; 2009 c.537 §7]

 

DUTIESOF STATE TREASURER

 

      286A.005Authority of State Treasurer to issue bonds. (1) The State Treasurer shallissue and sign bonds of the State of Oregon. The State Treasurer may sign abond by manual or facsimile signature.

      (2)Unless otherwise authorized by law other than this section, the State Treasurermay issue bonds only if a related agency has requested that the bonds beissued.

      (3)In determining whether to issue bonds, the State Treasurer shall consider:

      (a)The bond market for the type of bonds proposed for issuance;

      (b)The terms and conditions of the proposed issue; and

      (c)Other relevant factors that the State Treasurer considers necessary to protectthe financial integrity of the State of Oregon.

      (4)The State Treasurer may sell bonds for more than one related agency or for morethan one purpose in a single sale or in combination with the sale of otherbonds.

      (5)The State Treasurer is an applicable elected representative for the purpose ofapproving the issuance of bonds when approval is required under sect