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Oregon Revised Statutes Public Borrowing § 286A.836

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

<Text subject to final change by the Oregon Office of the Legislative Counsel.>

Prior to the sale of any Article XI-F(1) bonds, except for refunding bonds, a public university and the Higher Education Coordinating Commission shall enter into a loan agreement that includes:

(1) A representation by the public university that it has revenue sufficiency for the Article XI-F(1) bonds;

(2) A loan repayment schedule and a covenant of the public university to make all required loan repayment schedule payments to the commission prior to the date any bond debt service payments are due on the Article XI-F(1) bonds that financed the loan;

(3) Terms and conditions obligating the public university to maintain any federal tax benefits related to the Article XI-F(1) bonds and to execute and deliver any required tax certificates or agreements in connection with any federal tax benefits related to the Article XI-F(1) bonds; and

(4) Terms and conditions indemnifying the State of Oregon against regulatory or bondholder liability due to the action or inaction of the public university related to the Article XI-F(1) bonds.

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Cite this article: FindLaw.com - Oregon Revised Statutes Public Borrowing § 286A.836 - last updated January 01, 2023 | https://codes.findlaw.com/or/title-27-public-borrowing/or-rev-st-sect-286a-836/

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