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Oregon Revised Statutes Shipping and Navigation § 777.250

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

(1) A port may construct buildings or other improvements and acquire personal properties including but not limited to machinery and equipment considered necessary whether or not now in existence or under construction, suitable for use by any industry for the manufacturing, refining, processing or assembling of any agricultural, mining or other products or by any commercial enterprise in storing, warehousing, distributing or selling or servicing any products of agriculture, mining or industry or by any profit or nonprofit enterprise for research and development. The port has full power to lease and sell the buildings, improvements and personal property, together with the lands upon which they are situated, whether held by the port in its governmental capacity or not.

(2) In addition, a port may:

(a) Acquire and develop land, or develop land already owned, as the site for an industrial or research and development park, including as a part of such development provisions for water, sewage, drainage, roads, transportation, power, communication or other similar facilities which are incidental to the development of the site;

(b) Develop the site pursuant to a comprehensive plan in a manner compatible with other uses in the area in which the industrial or research and development park is located and adopt regulations necessary to implement the plan;

(c) Lease, sublease or sell tracts of land within an industrial or research and development park as building sites to any industry or commercial enterprise or profit or nonprofit enterprise described by this subsection; and

(d) Charge and collect fees for services made available within the industrial or research and development park.

(3) A port may acquire, construct, maintain or operate sports, recreation, convention and trade show facilities.

(4) For revenue bonding purposes under ORS 777.560 to 777.590, projects undertaken under this section shall be classified as either:

(a) Sales, if the port is to sell outright or by conditional sale its interest in the property, or, if by contract the port's title to the property is retained for a limited term only;

(b) Leases, if the port is only to rent, lease, sublease or charge a user fee for the property with the intention of retaining title to, or possession of, the property for its future benefit and use; or

(c) Loans, if the port is to lend the proceeds of such revenue bonds and has no ownership interest in the property.

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Cite this article: FindLaw.com - Oregon Revised Statutes Shipping and Navigation § 777.250 - last updated January 01, 2023 | https://codes.findlaw.com/or/title-58-shipping-and-navigation/or-rev-st-sect-777-250/

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