Chapter 285B — Chapter 285B

ORS 285B.264 [2003 c.773 §26a; 2007 c.804 §69; repealed by 2009 c.830 §171]

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ORS 285B.266 Strategic Reserve Fund; uses. (1) There is created a Strategic Reserve Fund, separate and distinct from the General Fund, to consist of all moneys credited thereto, including moneys from the Administrative Services Economic Development Fund, and all interest earned on the Strategic Reserve Fund. The fund is continuously appropriated to the Oregon Business Development Department to be used to implement statewide strategies for economic development

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ORS 285B.269 [Formerly 285.655; repealed by 2009 c.830 §171]

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ORS 285B.280 Definition of “traded sector.” As used in ORS 285B.280 to 285B.286, unless the context requires otherwise, “traded sector” means industries in which member firms sell their goods or services into markets for which national or international competition exists. [Formerly 285.765; 2005 c.835 §1]

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ORS 285B.283 Policy. The Legislative Assembly declares that it is the policy of the State of Oregon

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ORS 285B.286 Entrepreneurial and industry development activities. For traded sector industries, the Oregon Business Development Department shall undertake entrepreneurial and industry development activities that may include, but are not limited to, all of the following

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ORS 285B.289 [Formerly 285.773; repealed by 1999 c.509 §61]

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ORS 285B.290 Industry Competitiveness Fund; uses. The Industry Competitiveness Fund is established in the State Treasury, separate and distinct from the General Fund. The Industry Competitiveness Fund shall consist of all moneys credited to the fund, including moneys from the Administrative Services Economic Development Fund. Interest earned by the Industry Competitiveness Fund shall be credited to the fund. Moneys in the fund are continuously appropriated to the Oregon Business Development Department to provide funds for activities outlined in ORS 285B.286. [2007 c.804 §71; 2009 c.830 §83]

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ORS 285B.292 [Formerly 285.775; repealed by 1999 c.509 §61]

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ORS 285B.295 [Formerly 285.777; repealed by 1999 c.509 §61]

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ORS 285B.298 [Formerly 285.780; repealed by 1999 c.509 §61]

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ORS 285B.320 Purpose of ORS 285B.320 to 285B.371. It is the purpose of ORS 285B.320 to 285B.371 to authorize the exercise of powers granted by ORS 285B.320 to 285B.371 by this state in addition to and not in lieu of any other powers it may possess. [Formerly 285.310; 1999 c.509 §29; 2001 c.680 §2; 2007 c.804 §72]

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ORS 285B.323 Definitions for ORS 285B.320 to 285B.371. (1) As used in ORS 285B.320 to 285B.371, unless the context requires otherwise

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ORS 285B.326 Request for issuance of bonds; fees; rules; reimbursement for expenses. (1) Upon determining that an economic development project is an eligible project, the Oregon Business Development Commission shall request that the State Treasurer issue the bonds

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ORS 285B.329 Review of project by commission; exception. (1) The state, acting through the State Treasurer, shall not undertake to finance any economic development project pursuant to ORS 285B.320 to 285B.371 before the Oregon Business Development Commission has reviewed the project

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ORS 285B.332 [Formerly 285.330; 1999 c.509 §33; repealed by 2007 c.804 §86]

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ORS 285B.335 Powers of department; lease requirements. (1) In addition to any other powers granted by law or by charter, the Oregon Business Development Department may

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ORS 285B.338 Powers of commission. In carrying out its duties under ORS 285B.320 to 285B.371, the Oregon Business Development Commission acting for and in behalf of the state as its duly authorized agency, may

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ORS 285B.341 Limitation on state power. Except as provided in ORS 285B.335 and 285B.338, the state does not have the power to operate any eligible project as a business or in any manner whatsoever, and except as provided in ORS 285B.335 and 285B.338, nothing in ORS 285B.320 to 285B.371 authorizes the state to expend any funds on any eligible project, other than the revenues of such projects, or the proceeds of revenue bonds issued hereunder, or other funds granted to the state for the purposes of an eligible project. For the purpose of exercising the powers and authority granted under ORS 285B.335 or 285B.338, the state and the Oregon Business Development Commission are not subject to the requirements of ORS 279.835 to 279.855 or ORS chapter 279A, 279B or 279C. [Formerly 285.345; 2001 c.680 §6; 2003 c.167 §12; 2003 c.794 §239; 2009 c.830 §89]

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ORS 285B.344 Issuance of bonds. (1) At the request of the Oregon Business Development Department, the State Treasurer may issue under ORS 285B.320 to 285B.371 and ORS chapter 286A bonds secured by revenues from an eligible project or from other financing sources to finance or refinance in whole or part an eligible project and bond-related costs, including capitalized interest. The bonds must be identified by eligible project. Refunding bonds may be issued to refinance the bonds

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ORS 285B.347 [Formerly 285.355; 1999 c.509 §37; repealed by 2007 c.783 §234]

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ORS 285B.350 Method of issuing bonds. Bonds authorized under ORS 285B.320 to 285B.371 shall be issued in accordance with the provisions of ORS chapter 286A. [Formerly 285.360; 2007 c.783 §100]

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ORS 285B.353 Administrative expenses. The administrative expenses of the State Treasurer shall be charged against bond proceeds or project revenues. [Formerly 285.365]

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ORS 285B.356 Refunding bonds. The State Treasurer shall have the power, whenever the treasurer deems refunding expedient, to refund any bonds by the issuance of new bonds, whether the bonds to be refunded have or have not matured. The refunding bonds may be exchanged for bonds to be refunded and the proceeds applied to the purchase, redemption or payment of such bonds. [Formerly 285.370]

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ORS 285B.359 Validity of bonds. The validity of bonds issued under ORS 285B.320 to 285B.371 shall not be dependent on nor be affected by the validity or regularity of any proceeding relating to the acquisition, purchase, construction, installation, reconstruction, improvement, betterment or extension of the eligible project for which the bonds are issued. The official action authorizing such bonds may provide that the bonds shall contain a recital that they are issued pursuant to ORS 285B.320 to 285B.371 and such recital shall be conclusive evidence of their validity and of the regularity of their issuance. [Formerly 285.375]

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ORS 285B.362 Covenants in bonds. The official action authorizing the issuance of bonds under ORS 285B.320 to 285B.371 to finance or refinance in whole or in part, the acquisition, construction, installation, reconstruction, improvement, betterment or extension of any eligible project may contain covenants, notwithstanding that such covenants may limit the exercises of powers conferred by ORS 285B.320 to 285B.371 in the following respects and in such other respects as the Oregon Business Development Department may decide

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ORS 285B.365 Limitations of bonds; recitals. (1) Revenue bonds issued under ORS 285B.320 to 285B.371

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ORS 285B.368 Powers and rights of bondholders. Subject to any contractual limitation binding upon the holders of any issue of bonds, or any escrow agent, vendor, lender, other financing party or trustee therefor, including but not limited to the restriction of the exercise of any remedy to a specified proportion or percentage of such holders, any holder of bonds, or any trustee therefor, for the equal benefit and protection of all bondholders similarly situated, may

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ORS 285B.371 State interest in eligible projects not necessary for loans; security. The state, acting through the Oregon Business Development Commission, may loan the proceeds of the bonds authorized by ORS 285B.320 to 285B.371 for eligible projects without the necessity of the state having any ownership or leasehold interest in the eligible projects. Loans made pursuant to this section shall be secured, if at all, to the extent deemed necessary or desirable by the commission. [Formerly 285.393; 1999 c.509 §40; 2007 c.783 §102; 2009 c.830 §92]

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ORS 285B.374 [Formerly 285.395; 1999 c.509 §41; repealed by 2003 c.167 §16]

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ORS 285B.377 [Formerly 285.397; 1999 c.509 §42; repealed by 2003 c.167 §16]

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ORS 285B.380 [Formerly 285.398; 2003 c.662 §7; renumbered 285C.600 in 2003]

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ORS 285B.383 [Formerly 285.399; 1999 c.509 §26; 2003 c.662 §8; renumbered 285C.606 in 2003]

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ORS 285B.386 [Formerly 285.400; 2003 c.662 §9; renumbered 285C.609 in 2003]

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ORS 285B.389 [Formerly 285.401; 1999 c.509 §21; 2003 c.167 §9; 2003 c.662 §10a; renumbered 285C.612 in 2003]

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ORS 285B.392 [Formerly 285.402; 2003 c.662 §11; renumbered 285C.620 in 2003]

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ORS 285B.410 Definitions for ORS 285B.410 to 285B.482. As used in ORS 285B.410 to 285B.482, unless the context requires otherwise

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ORS 285B.413 Legislative findings; purpose; use of moneys; rules. (1) The Legislative Assembly finds that

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ORS 285B.416 [Formerly 285.705; 2001 c.883 §28; 2003 c.773 §29; repealed by 2005 c.835 §37]

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ORS 285B.419 Administration of Special Public Works Fund; rules and policies. (1) The Oregon Business Development Department shall adopt rules and policies for the administration of the Special Public Works Fund. All forms of assistance are subject to the rules and policies of the department

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ORS 285B.420 Financial assistance for levee projects; required findings. (1) The Oregon Infrastructure Finance Authority may provide financial assistance in the form of loans or grants for a levee project to

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ORS 285B.421 Levee Project Grant Fund; limits; matching funds; rural and distressed areas. (1) The Levee Project Grant Fund is established in the State Treasury, separate and distinct from the General Fund. Interest earned by the Levee Project Grant Fund must be credited to the fund. The Levee Project Grant Fund consists of moneys deposited in the fund under section 33, chapter 671, Oregon Laws 2019, and may include moneys appropriated, allocated, deposited or transferred to the fund by the Legislative Assembly or otherwise and interest earned on moneys in the fund

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ORS 285B.422 Funding to municipalities for development projects; criteria for project funding; prohibited uses. (1) The Oregon Infrastructure Finance Authority may provide financial or other assistance to a municipality for a development project

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ORS 285B.424 Housing infrastructure financing program; rules. (1) The Oregon Infrastructure Finance Authority shall create a housing infrastructure financing program through which the authority may provide financial assistance, in the form of grants, loans or forgivable loans to a city, a county, a county service district organized under ORS chapter 451, a district as defined in ORS 198.010, an intergovernmental entity formed under ORS chapter 190 or a tribal council of a federally recognized Indian tribe in this state, for a project that will primarily support a specified proposed housing development. A project under this section may include

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ORS 285B.425 [1997 c.800 §13; 2001 c.883 §30a; repealed by 2005 c.835 §37]

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ORS 285B.426 Housing Infrastructure Project Fund. (1) The Housing Infrastructure Project Fund is established in the State Treasury, separate and distinct from the General Fund

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ORS 285B.428 Application for funds; rules. Any municipality may apply for financial or other assistance from the Special Public Works Fund by submitting a completed application and related information as required by the Oregon Business Development Department by rule. The application shall be filed, reviewed and approved or rejected in accordance with rules adopted by the department. [Formerly 285.710; 2001 c.883 §30b; 2003 c.773 §33; 2005 c.835 §11; 2009 c.830 §98]

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ORS 285B.431 [Formerly 285.713; 2003 c.773 §34; repealed by 2005 c.835 §37]

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ORS 285B.434 [Formerly 285.715; 2001 c.883 §30c; repealed by 2005 c.835 §37]

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ORS 285B.437 Contract with municipality; required provisions; repayment. (1) If the Oregon Infrastructure Finance Authority approves assistance from the Special Public Works Fund for a project, the authority, on behalf of the state, and the municipality may enter into a contract to implement the assistance. The contract shall include

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