Oregon Revised Statutes Public Borrowing § 289.100

(1) There is created a body politic and corporate to be known as the Oregon Facilities Authority. The authority is constituted a public instrumentality, and the exercise by the authority of the powers conferred by this chapter is the performance of an essential public function.

(2) The authority consists of seven members who must be residents of this state, not more than four of whom are members of the same political party. The State Treasurer shall appoint the members, and members serve at the pleasure of the State Treasurer. At least one of the members must be an individual knowledgeable in the field of state and municipal finance. At least one of the members must be an individual knowledgeable in the building construction field.

(3) Upon the expiration of the term of a member, the State Treasurer shall appoint a successor for a term of four years.

(4) The State Treasurer shall appoint an individual to fill a vacancy for the remainder of the unexpired term.