Chapter 285B — Chapter 285B
305 sections in this chapter.
ORS 285B.438 [2001 c.633 §4; 2003 c.773 §36; repealed by 2005 c.835 §37]
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[Repealed or reserved.]
ORS 285B.440 Primary use of moneys in fund; standards for awarding grants; limitations; rules. (1)(a) The moneys in the Special Public Works Fund shall be used primarily to provide loans to municipalities for projects as defined in ORS 285B.410 to 285B.482. The Oregon Infrastructure Finance Authority may determine the level of grant or loan funding, if any, on a case-by-case basis
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(b) If the authority approves funding, the authority shall determine a maximum amount of the loan based upon a reasonable and prudent expectation of the ability of the municipality to repay the loan. (c) The initial loan term may not exceed the usable life of the project or 30 ye…
ORS 285B.443 [Formerly 285.723; 2001 c.883 §31; 2003 c.773 §38; repealed by 2005 c.835 §37]
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[Repealed or reserved.]
ORS 285B.446 [Formerly 285.725; 2003 c.773 §39; repealed by 2005 c.835 §37]
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[Repealed or reserved.]
ORS 285B.449 Effect of failure to comply or default. (1) If a municipality fails to comply with a contract entered into under ORS 285B.410 to 285B.482, the Oregon Business Development Department may seek appropriate legal remedies to secure any repayment due the Special Public Works Fund. If any municipality defaults on payments due to the Special Public Works Fund under ORS 285B.410 to 285B.482, the State of Oregon may withhold any amounts otherwise due to the municipality to apply to the indebtedness. The department may waive this right to withhold
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(2) Moneys withheld under subsection (1) of this section shall be deposited in the Special Public Works Fund and shall be used to repay any account in the fund from which funds were expended to pay obligations upon which the municipality defaulted. [Formerly 285.727; 2009 c.830 §…
ORS 285B.452 [Formerly 285.730; 2001 c.883 §31b; 2003 c.773 §40; repealed by 2005 c.835 §37]
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[Repealed or reserved.]
ORS 285B.455 Special Public Works Fund; uses; administration of fund. (1) There is created the Special Public Works Fund, separate and distinct from the General Fund. Interest earned by the Special Public Works Fund shall be credited to the fund. All moneys credited to the Special Public Works Fund are appropriated continuously to the Oregon Business Development Department for the Oregon Infrastructure Finance Authority for the purposes set forth in this section
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(2) The fund shall consist of all moneys credited to the fund, including: (a) Moneys appropriated to the fund by the Legislative Assembly or transferred to the fund by the authority; (b) Earnings on the fund; (c) Repayment of financial assistance, including interest; (d) Moneys r…
ORS 285B.456 Levee Project Subaccount. (1) The Levee Project Subaccount is established in the Special Public Works Fund established under ORS 285B.455. Interest earned by the Levee Project Subaccount shall be credited to the subaccount. Moneys in the subaccount are continuously appropriated to the Oregon Business Development Department for the purpose of providing financial assistance under ORS 285B.410 to 285B.482 for levee projects, as defined in ORS 285B.410
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(2) The department may accept grants, donations, contributions or gifts from any source for deposit in the Levee Project Subaccount. [2015 c.812 §1b] Note: 285B.456 was enacted into law by the Legislative Assembly but was not added to or made a part of ORS chapter 285B or any ser…
ORS 285B.458 Grants for assistance to distressed or rural areas; minimum. Not less than 60 percent of the grants awarded from the Special Public Works Fund in any biennium shall be used to provide assistance to distressed or rural areas. [Formerly 285.735; 2001 c.883 §32a; 2003 c.773 §42; 2005 c.835 §14]
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[Repealed or reserved.]
ORS 285B.460 Funding and assistance for planning projects. (1) The Oregon Infrastructure Finance Authority may provide financial or other assistance to a municipality for a planning project
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(2) The planning project may be a stand-alone project. (3) The planning project may include an environmental action on a brownfield. For purposes of this subsection: (a) “Brownfield” has the meaning given that term in ORS 285A.185. (b) “Environmental action” has the meaning given…
ORS 285B.461 [Formerly 285.737; 2001 c.883 §33; 2003 c.773 §43; repealed by 2005 c.835 §37]
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[Repealed or reserved.]
ORS 285B.462 Funding and assistance for emergency projects. (1) The Oregon Infrastructure Finance Authority may provide financial or other assistance to a municipality for an emergency project. Emergency project grants include grants for essential community facilities, as defined by the Oregon Business Development Department by rule after consultation with the League of Oregon Cities, the Association of Oregon Counties, the Oregon Ports Representation Group and the Special Districts Association of Oregon
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(2) The authority may award grant funding to an emergency project only if federal disaster relief assistance has been committed for the emergency project. (3) Assistance from the Special Public Works Fund for an emergency project may not exceed the total local matching funds requ…
ORS 285B.464 [Formerly 285.753; 2003 c.773 §44; repealed by 2005 c.835 §37]
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[Repealed or reserved.]
ORS 285B.465 Allowable costs of projects. For purposes of ORS 285B.410 to 285B.482, the allowable costs of a project include
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(1) Financing costs, including capitalized interest; (2) Direct project management costs; (3) Costs of consultant services and expenses; (4) Construction costs and expenses; (5) Costs of property acquisition, including any easement or right of way directly related to and necessar…
ORS 285B.467 Oregon Infrastructure Finance Authority to determine eligibility for revenue bond financing; rules; request for issuance; allowable costs. (1) The Oregon Infrastructure Finance Authority shall determine eligibility for revenue bond financing under ORS 285B.467 to 285B.479 of development projects that have qualified under ORS 285B.419 to 285B.437 and 285B.449 pursuant to rules adopted by the Oregon Business Development Department
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(2) After a determination is made that a development project is eligible for revenue bond financing under ORS 285B.467 to 285B.479, the department shall forward a request for the issuance of revenue bonds to the State Treasurer, who shall determine whether to issue revenue bonds.…
ORS 285B.470 Powers of authority. The Oregon Infrastructure Finance Authority may
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(1) Make all contracts, execute all instruments and do all things necessary or convenient in the exercise of the powers granted by this section, or in the performance of its covenants or duties, or in order to secure the payment of its bonds; (2) Enter into and perform contracts …
ORS 285B.473 Issuance of revenue bonds. (1) At the request of the Oregon Business Development Department, the State Treasurer may issue under ORS 285B.467 to 285B.479 and ORS chapter 286A revenue bonds secured by moneys paid to the Special Public Works Fund pledged therefor to finance or refinance in whole or part the cost of acquisition, construction, reconstruction, improvement or extension of development projects. Refunding bonds may be issued to refinance the revenue bonds
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(2) The department or the State Treasurer may appoint bond counsel as prescribed in ORS 286A.130. [Formerly 285.745; 2001 c.536 §2; 2003 c.773 §47; 2003 c.794 §241; 2005 c.835 §17; 2007 c.783 §104; 2009 c.830 §108]
ORS 285B.476 Application of law to revenue bonds; proceeds; maximum duration of loans. (1) ORS 285B.350 to 285B.362 and 285B.368 apply to revenue bonds issued under ORS 285B.467 to 285B.479
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(2) The proceeds of revenue bonds issued and sold under ORS 285B.467 to 285B.479 shall be deposited in the Special Public Works Fund and used for the payment of a loan to a municipality for a development project and costs of issuing the revenue bonds. (3) A loan made with money d…
ORS 285B.479 Nature of revenue bonds. (1) Revenue bonds issued under ORS 285B.467 to 285B.479
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(a) May not be payable from nor charged upon any funds other than the revenue pledged to the payment thereof, except as provided in this section, nor shall the state be subject to any liability thereon. No holder or holders of such bonds shall ever have the right to compel any ex…
ORS 285B.482 Revenue bonds as parity bonds; consolidation of bond proceeds; loans and consolidated funds as security for water or development projects. (1) Notwithstanding any other law relating to revenue bonds issued and sold under ORS 285B.467 to 285B.479 or ORS 285B.572, 285B.575 and 285B.578, revenue bonds may be issued and sold as parity bonds
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(2) Proceeds of revenue bonds issued and sold under ORS 285B.467 to 285B.479 or ORS 285B.572, 285B.575 and 285B.578, together with the investment earnings thereon, may be consolidated into one or more funds or accounts and may be pledged to the holders of revenue bonds issued to …
ORS 285B.486 [2001 c.957 §10; renumbered 285C.530 in 2003]
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[Repealed or reserved.]
ORS 285B.488 [2001 c.957 §11; renumbered 285C.533 in 2003]
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INFRASTRUCTURE PROJECTS FOR SOUTHERN OREGON
ORS 285B.500 Purpose of ORS 285B.500 to 285B.512; legislative findings. (1) The Legislative Assembly finds that
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(a) It is a matter of statewide importance to increase the infrastructure capacity of Coos, Jackson and Josephine Counties and the rest of southern Oregon. (b) The absence of such infrastructure capacity, the lack of inexpensive industrial fuel and inadequate transportation facil…
ORS 285B.503 Oregon Unified International Trade Fund; uses. (1) There is established in the State Treasury, separate and distinct from the General Fund, the Oregon Unified International Trade Fund. Interest earned by the Oregon Unified International Trade Fund shall be credited to the fund. The moneys in the fund are continuously appropriated to the Oregon Business Development Department for the Oregon Infrastructure Finance Authority for
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(a) Paying all or a portion of the costs of: (A) A project for the extension and improvement of Jackson County Airport runway. (B) A project for the extension of a natural gas pipeline to the Coos Bay and North Bend area from a location near Roseburg. (C) A project for improvemen…
ORS 285B.506 Grant agreements; maximum grant amount; required provisions; assignment of right to receive grant moneys; agreement not to constitute state debt or liability. (1) The administrator of the Oregon Infrastructure Finance Authority shall enter into a grant agreement with the primary sponsor of a project listed in ORS 285B.503 that commits the State of Oregon to make the deposits specified in section 9, chapter 644, Oregon Laws 1997, and commits the Oregon Infrastructure Finance Authority to pay those deposits, plus earnings, to the primary sponsor as soon as funds are available in the appropriate account of the Oregon Unified International Trade Fund and are required by the primary sponsor for payment of project costs. Notwithstanding any other law, the commitment of the State of Oregon and the authority under this section shall be conditioned solely on receipt by this state of unobligated net lottery proceeds sufficient to make the deposits specified in section 9, chapter 644, Oregon Laws 1997
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(2) The total amount paid to the primary sponsor under the grant agreement shall not exceed the amount deposited in the appropriate account for the sponsor’s project in the Oregon Unified International Trade Fund, plus any interest earnings on the amounts in the account. The gran…
ORS 285B.509 Agreements between primary sponsor and United States. The primary sponsors of projects listed in ORS 285B.503 are authorized to enter into agreements with agencies of the United States for the project and, notwithstanding any other provision of law, may each agree to be bound by any requirement imposed by an Act of the United States Congress as a condition of federal participation in the project. [1997 c.644 §11]
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Note: See note under 285B.500.
ORS 285B.512 End of lottery allocations upon certification by administrator of authority. (1) The deposit of unobligated net lottery proceeds to an account in the Oregon Unified International Trade Fund shall cease if and when the administrator of the Oregon Infrastructure Finance Authority certifies in writing that deposits are no longer required because
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(a) Sufficient funds are on hand in the account to pay all amounts required to be paid under the grant agreement; (b) All amounts required to be paid under the grant agreement have been paid; or (c) The primary sponsor has notified the administrator pursuant to the grant agreemen…
ORS 285B.515 “Primary sponsor” and “project sponsor” defined. As used in ORS 285B.500 to 285B.512 and section 9, chapter 644, Oregon Laws 1997, “primary sponsor” or “project sponsor” means a city, county, agency or person who acts as a financial contributor to a project listed in ORS 285B.503, as determined by the Oregon Infrastructure Finance Authority in a grant agreement under ORS 285B.506. [1997 c.644 §13; 2009 c.830 §113]
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Note: See note under 285B.500. LOTTERY BONDS FOR INFRASTRUCTURE PROJECTS
ORS 285B.530 Definitions for ORS 285B.530 to 285B.548. As used in ORS 285B.530 to 285B.548, unless the context requires otherwise
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(1) “Infrastructure lottery bonds” means the bonds authorized to be issued under ORS 285B.533 for the purpose of financing infrastructure projects. (2) “Infrastructure projects” includes: (a) A water project defined in ORS 285B.560; and (b) Payment of any state financial obligati…
ORS 285B.533 Issuance of infrastructure lottery bonds; amount; use of bond proceeds. (1) Infrastructure lottery bonds shall be issued under ORS 286A.560 to 286A.585 only at the request of the Director of the Oregon Business Development Department. Infrastructure lottery bonds may be issued in an amount sufficient to provide no more than $6 million of net proceeds to pay costs of infrastructure projects, plus the amounts required to pay bond-related costs
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(2) The net proceeds from the sale of the infrastructure lottery bonds shall be allocated to the Oregon Business Development Department for the Oregon Infrastructure Finance Authority for the State of Oregon’s match of federal moneys under the Safe Drinking Water Act. (3) The net…
ORS 285B.536 [1997 c.800 §18; repealed by 1999 c.44 §29]
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[Repealed or reserved.]
ORS 285B.539 [1997 c.800 §19; repealed by 1999 c.44 §29]
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[Repealed or reserved.]
ORS 285B.542 [1997 c.800 §20; repealed by 1999 c.44 §29]
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[Repealed or reserved.]
ORS 285B.545 [1997 c.800 §21; repealed by 1999 c.44 §29]
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[Repealed or reserved.]
ORS 285B.548 Amount of infrastructure lottery bonds. Infrastructure lottery bonds may not be issued in excess of the amounts permitted by ORS 286A.035. [1997 c.800 §22; 2007 c.783 §106]
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Note: See note under 285B.530.
ORS 285B.551 Issuance of additional lottery bonds; uses; maximum amounts; Economic Infrastructure Project Fund. (1) Pursuant to ORS 286A.560 to 286A.585, at the request of the Oregon Department of Administrative Services, after the department consults with the Oregon Business Development Department, the State Treasurer is authorized to issue lottery bonds
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(a) To provide financial and other assistance, including but not limited to loans and grants, to municipalities, ports and other persons and entities in accordance with the laws governing use of moneys in the Special Public Works Fund created by ORS 285B.455, the Water Fund creat…
ORS 285B.560 Definitions for ORS 285B.560 to 285B.599. As used in ORS 285B.560 to 285B.599
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(1) “Direct project management costs” means new expenses incurred by a municipality solely to support, plan for and manage an infrastructure project, funded in whole or in part through financial assistance under ORS 285B.560 to 285B.599, during the planning and construction phase…
ORS 285B.563 Water Fund; uses; conditions for making loan; grant awards; investment of fund moneys; rules and policies. (1) There is established in the State Treasury, separate and distinct from the General Fund, the Water Fund. Interest earned by the Water Fund shall be credited to the fund. All moneys in the Water Fund are continuously appropriated to the Oregon Business Development Department for the Oregon Infrastructure Finance Authority for the purposes described in ORS 285B.560 to 285B.599, including the direct project management costs
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(2)(a) Moneys in the Water Fund may be obligated to water projects. (b) Moneys shall be used primarily to make loans to municipalities. The authority may make a loan only if: (A) The municipality applying for the loan certifies to the department that adequate funds will be availa…
ORS 285B.566 Use of awards. All payments, receipts and interest from financial awards made for water projects shall be retained and accumulated in the Water Fund and used to finance water projects including payments to holders of revenue bonds issued under ORS 285B.575. [Formerly 285.760]
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[Repealed or reserved.]
ORS 285B.569 When constitutional restrictions apply to use of certain funds. If moneys are transferred to the Water Fund from the sources described in ORS 285B.563 (5)(b) to (e), all constitutional restrictions, statutes and rules regulating the use of the moneys transferred from these funds shall apply to the use of those moneys in the Water Fund. [Formerly 285.763]
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(Revenue Bond Financing of Safe Drinking Water Projects)
ORS 285B.572 Eligibility of project for revenue bond financing; rules; decision to issue bonds. (1) The Oregon Infrastructure Finance Authority shall determine eligibility of a water project for revenue bond financing under ORS 285B.560 to 285B.599 pursuant to rules adopted by the Oregon Business Development Department
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(2) Upon determining that a water project is eligible for revenue bond financing, the authority shall forward a description of the project to the State Treasurer. The State Treasurer shall determine whether to issue revenue bonds. [Formerly 285.950; 2009 c.830 §123]
ORS 285B.575 Issuance of revenue bonds. (1) At the request of the Oregon Business Development Department, the State Treasurer may issue in the name of the State of Oregon revenue bonds secured by moneys paid to the Water Fund and pledged to finance or refinance in whole or in part the cost of a water project. The revenue bonds issued under this section shall be issued in the manner prescribed by ORS chapter 286A, and refunding bonds may be issued to refinance the revenue bonds
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(2) The department or the State Treasurer may appoint bond counsel as prescribed under ORS 286A.130. [Formerly 285.952; 2001 c.536 §3; 2003 c.794 §242; 2007 c.783 §108; 2009 c.830 §124]
ORS 285B.578 Nature of revenue bonds. (1) Revenue bonds issued under ORS 285B.575
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(a) Shall not be payable from nor charged upon any fund other than the revenue pledged to the payment of the revenue bonds, except as provided in this section, nor shall the state be subject to any liability on the bonds. No holder of revenue bonds shall ever have the right to co…
ORS 285B.581 Repayment plans; required provisions; loan contract; sources for repayment. (1) Any loan of moneys to a municipality by the state shall include a plan for repayment by the municipality of moneys borrowed from the Water Fund for a water project and interest on those moneys at a rate expressly specified. The repayment plan
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(a) Shall provide for evidence of debt assurance of, and security for, repayment by the municipality as is considered necessary by the Oregon Infrastructure Finance Authority. (b) May set forth the allocation of special assessments or contractual responsibilities among the owners…
ORS 285B.584 Powers of authority. The Oregon Infrastructure Finance Authority may
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(1) Make all contracts, execute all instruments and do all things necessary or convenient for the exercise of the powers granted by this section, or for the performance of its covenants or duties, or in order to secure the payment of its bonds; (2) Enter into and perform such con…
ORS 285B.587 Deposit and use of bond proceeds. (1) Proceeds of revenue bonds issued and sold under ORS 285B.572 to 285B.578 that are to be used to fund loans to municipalities for water projects shall be deposited in the Water Fund
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(2) Proceeds of revenue bonds issued and sold under ORS 285B.572 to 285B.578 that are to be used to pay the costs of issuing the revenue bonds or that are to be applied to fund a reserve fund for the revenue bonds shall be deposited either in the Water Fund or in a trust account …
ORS 285B.590 Other forms of financial assistance. In addition to making loans to municipalities for water projects, the Oregon Infrastructure Finance Authority may provide any other form of financial or other assistance that the authority may consider appropriate to assist municipalities with water projects, including direct purchase by the authority of goods and services related to a water project. [Formerly 285.962; 2001 c.883 §39a; 2009 c.830 §127]
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[Repealed or reserved.]
ORS 285B.593 Technical assistance grants and loans; uses; rules. Out of the moneys in the Water Fund, the Oregon Infrastructure Finance Authority may make technical assistance grants and loans to municipalities as specified by the Oregon Business Development Department by rule. Technical assistance grants and loans shall be for the purpose of completing preliminary planning, legal, fiscal and economic investigations, reports and studies to determine the economic and engineering feasibility of water projects. [Formerly 285.964; 2003 c.773 §51; 2009 c.830 §128]
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[Repealed or reserved.]
ORS 285B.596 Funding of distressed area or nonurban water projects. Not less than 60 percent of the grants awarded from the Water Fund shall be used to provide assistance to distressed area or nonurban water projects. [Formerly 285.966; 2001 c.883 §39b; 2003 c.773 §52]
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[Repealed or reserved.]
ORS 285B.599 Effect of failure to repay to Water Fund; default. (1) If a municipality fails to comply with a contract entered into under ORS 285B.581, the Oregon Business Development Department may seek appropriate legal remedies to secure any repayment due the Water Fund. If any municipality defaults on payments due the fund, the State of Oregon may withhold any amounts otherwise due the municipality to apply to the indebtedness. The department may waive the right to withhold moneys under this subsection
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(2) Moneys withheld under subsection (1) of this section shall be deposited in the fund and shall be used to repay any account in the fund from which funds were expended to pay obligations upon which the municipality defaulted. [Formerly 285.968; 2009 c.830 §129] OREGON BUSINESS …