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
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
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