Title 26A, Economic Development

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 an…

(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 eligi…

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]

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

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 …

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 eli…

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, notwi…

(1) Revenue bonds issued under ORS 285B.320 to 285B.371: (a) Shall not be payable from nor charged upon any funds other than the revenue pledged to the payment thereof, nor shall the state be subject to any liability thereon. No holder or holders of such bonds shall ever have the…

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…

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…

As used in ORS 285B.410 to 285B.482, unless the context requires otherwise: (1) “Airport” means: (a) A runway, taxiway, aircraft parking apron, ramp, auto parking area, access road, safety area or runway protection zone; (b) An airport-related facility, including a hangar, termin…

(1) The Legislative Assembly finds that: (a) The improvement, expansion and new construction of the state’s infrastructure systems provide the basic framework for continuing and expanding economic activity in this state, thereby improving the quality of life and economic opportun…

(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. (2) The Oregon Infrastructure Finance Authority shall manage the…

(1) The Oregon Infrastructure Finance Authority may provide financial assistance in the form of loans or grants for a levee project to: (a) Municipalities; (b) Corporations or companies for drainage or flood control organized under ORS chapter 554; and (c) For-profit or nonprofit…

(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…

(1) The Oregon Infrastructure Finance Authority may provide financial or other assistance to a municipality for a development project. (2) The project must be municipally owned and operated either by the municipality or under a management contract or an operating agreement with t…

(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 OR…

(1) The Housing Infrastructure Project Fund is established in the State Treasury, separate and distinct from the General Fund. (2) The Oregon Business Development Department may accept grants, donations, contributions or gifts from any source for deposit in the Housing Infrastruc…

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 o…

(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: (a) A provision …

(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-ca…

(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 du…

(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 Busine…

(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 Deve…

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]

(1) The Oregon Infrastructure Finance Authority may provide financial or other assistance to a municipality for a planning project. (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…

(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…

For purposes of ORS 285B.410 to 285B.482, the allowable costs of a project include: (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 …

(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 Developme…

The Oregon Infrastructure Finance Authority may: (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…

(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 …

(1) ORS 285B.350 to 285B.362 and 285B.368 apply to revenue bonds issued under ORS 285B.467 to 285B.479. (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 mun…

(1) Revenue bonds issued under ORS 285B.467 to 285B.479: (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…

(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. (2) Proceeds of revenue bonds issued and sold under ORS 285B.467 to 285B.479 or…

(1) The Legislative Assembly finds that: (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…

(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 appropri…

(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 co…

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…

(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: (a) Suffici…

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 Fina…

As used in ORS 285B.530 to 285B.548, unless the context requires otherwise: (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 proj…

(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…

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] Note: See note under 285B.530.

(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: (a) To provide financial and othe…

As used in ORS 285B.560 to 285B.599: (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, durin…

(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 f…

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]

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. [Forme…

(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. (2) Upon determining that a water project is eligible …

(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 reven…