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Oregon Revised Statutes Public Borrowing § 286A.796

Current as of January 01, 2023 | Updated by FindLaw Staff

As used in ORS 286A.796 to 286A.806:

(1) “Article XI-P bonds” means general obligation bonds issued under the authority of Article XI-P of the Oregon Constitution.

(2) “Bond-related costs” means:

(a) The costs of paying the principal of, the interest on and the premium, if any, on Article XI-P bonds.

(b) The costs and expenses of issuing, administering and maintaining Article XI-P bonds including, but not limited to, the costs and expenses of:

(A) Redeeming Article XI-P bonds.

(B) Paying amounts due in connection with credit enhancement devices or agreements for exchange of interest rates.

(C) Paying the fees, administrative costs and expenses of the State Treasurer, the Oregon Department of Administrative Services and the Department of Education, including the costs of consultants or advisors retained by the State Treasurer, the Oregon Department of Administrative Services or the Department of Education for the Article XI-P bonds.

(c) The costs of funding reserves for the Article XI-P bonds.

(d) Capitalized interest for the Article XI-P bonds.

(e) Rebates or penalties due to the United States in connection with the Article XI-P bonds.

(f) Any other costs or expenses that the State Treasurer, the Oregon Department of Administrative Services or the Department of Education determines are necessary or desirable in connection with issuing and maintaining the Article XI-P bonds.

(3) “Capital costs” means costs of land and of other assets having a useful life of more than one year, including costs associated with acquisition, construction, improvement, remodeling, furnishing, equipping, maintenance or repair.

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Cite this article: FindLaw.com - Oregon Revised Statutes Public Borrowing § 286A.796 - last updated January 01, 2023 | https://codes.findlaw.com/or/title-27-public-borrowing/or-rev-st-sect-286a-796/

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