ORS 286A.001
Definitions for ORS chapter 286A


As used in this chapter:

(1)

“Agreement for exchange of interest rates” means a contract, or an option or forward commitment to enter into a contract, for the exchange of interest rates that provides for:

(a)

Payments based on levels of or changes in interest rates; or

(b)

Provisions to hedge payment, rate, spread or similar exposure including, but not limited to, an interest rate floor or cap or an option, put or call.

(2)

“Bond”:

(a)

Means a contractual undertaking or instrument of the State of Oregon to repay borrowed moneys.

(b)

Does not mean a financing agreement, as defined in ORS 283.085 (Definitions for ORS 283.085 to 283.092), if the principal amount of the agreement is $100,000 or less, or a credit enhancement device.

(3)

“Counterparty” means an entity with whom the State of Oregon enters into an agreement for exchange of interest rates.

(4)

“Credit enhancement device”:

(a)

Means a letter of credit, line of credit, standby bond purchase agreement, bond insurance policy, reserve surety bond or other device or facility used to enhance the creditworthiness, liquidity or marketability of bonds or agreements for the exchange of interest rates; and

(b)

Does not mean a bond.

(5)

“Credit enhancement device fee” means a payment required to be made to the provider of a credit enhancement device securing a bond or securing an agreement for the exchange of interest rates.

(6)

“General obligation bond” means a bond that constitutes indebtedness of the state under section 7, Article XI of the Oregon Constitution, and that is exempt from the $50,000 limitation on indebtedness set forth in that section.

(7)

“Operative document” means a bond declaration, trust agreement, indenture, security agreement or other document in which the State of Oregon pledges property as security for an obligation, as defined in ORS 286A.100 (Definitions for ORS 286A.100 and 286A.102).

(8)

“Refunding bond” means a bond of the State of Oregon that is issued to refund another bond, regardless of whether the refunding is on a current, advance, forward delivery, synthetic or other basis.

(9)

“Related agency” means the state agency that requests the State Treasurer to issue bonds pursuant to ORS 286A.025 (Issuance and sale of bonds) or for which the State Treasurer has issued bonds.

(10)

“Related bond” means a bond for which the State of Oregon enters into an agreement for exchange of interest rates.

(11)

“Revenue” means all fees, tolls, excise taxes, assessments, property taxes and other taxes, rates, charges, rentals and other income or receipts derived by a state agency or to which a state agency is entitled.

(12)

“Revenue bond” means a bond of the State of Oregon that is not a general obligation bond.

(13)

“State agency”:

(a)

Includes a statewide elected officer, board, commission, department, division, authority or other entity, without regard to the designation given to the entity, that is within state government, as defined in ORS 174.111 (“State government” defined); and

(b)

Does not include:

(A)

A statewide elected judge;

(B)

The State Treasurer;

(C)

A local government, as defined in ORS 174.116 (“Local government” and “local service district” defined);

(D)

The Oregon Health and Science University;

(E)

A special government body, as defined in ORS 174.117 (“Special government body” defined), except to the extent a special government body must be considered a state agency in order to achieve the purposes of Article XI-K of the Oregon Constitution; or

(F)

A semi-independent state agency listed in ORS 182.454 (Semi-independent state agencies), 377.835 (Creation of Travel Information Council as semi-independent state agency) or 674.305 (Appraiser Certification and Licensure Board), or any other state agency denominated by statute as a semi-independent state agency.

(14)

“Termination payment” means the amount payable under an agreement for exchange of interest rates by one party to another party as a result of the termination, in whole or part, of the agreement prior to the expiration of the stated term. [2007 c.783 §2; 2009 c.537 §7]

Source: Section 286A.001 — Definitions for ORS chapter 286A, https://www.­oregonlegislature.­gov/bills_laws/ors/ors286A.­html.

286A.001
Definitions for ORS chapter 286A
286A.003
State policy on debt management
286A.005
Authority of State Treasurer to issue bonds
286A.010
Information required by State Treasurer
286A.014
Fees and expenses of State Treasurer
286A.015
Payment of expenses of State Treasurer
286A.016
Disposition of charges
286A.025
Issuance and sale of bonds
286A.035
Bond budget authorization
286A.045
Borrowing for current expenses
286A.050
Short Term Borrowing Account
286A.055
Report by State Treasurer on amount of bonds issued, amounts repaid, costs and interest earned
286A.056
Cancellation or postponement of scheduled issuance of bonds
286A.095
Compliance with constitutional or statutory debt limit
286A.100
Definitions for ORS 286A.100 and 286A.102
286A.102
Lien of a pledge
286A.110
Agreements for exchange of interest rates
286A.118
Termination payment of conduit borrower
286A.120
Credit enhancement devices
286A.123
Agency purchase of own bonds
286A.130
Bond counsel services
286A.132
Debt-related advisory services
286A.140
State taxation of bond interest
286A.145
Federal taxation of bond interest
286A.160
Exception to expenditure limits for repaying obligations
286A.185
Cancellation, purchase or redemption of bonds
286A.190
Disclosure of bond ownership
286A.195
Financial audit of bond programs
286A.200
Administration of certain bond programs by Oregon Department of Administrative Services
286A.250
State Debt Policy Advisory Commission
286A.255
Functions and duties of commission
286A.560
Definitions for ORS 286A.560 to 286A.585 and 327.700 to 327.711
286A.563
Purposes
286A.566
Requirements for legislation authorizing lottery bonds
286A.570
Lottery Bond Fund
286A.573
Lottery Bond Administrative Fund
286A.576
Allocation of lottery moneys for lottery bonds
286A.578
Litigation challenging legality of Oregon State Lottery
286A.580
Issuance of lottery bonds
286A.585
Lottery bonds for community sports facilities
286A.605
Definitions for ORS 286A.605 to 286A.625
286A.615
Private Activity Bond Committee
286A.620
Private activity bond volume cap
286A.625
State Treasurer to maintain records
286A.630
Reallocation of private activity bond cap
286A.700
Authority to issue baccalaureate bonds
286A.710
Definitions for ORS 286A.710 to 286A.720
286A.712
Authority of State Treasurer to issue bonds
286A.714
Article XI-D Bond Fund
286A.716
Article XI-D Bond Administration Fund
286A.718
Renewable Energy Fund
286A.720
Payment of bond-related costs
286A.730
Definitions for ORS 286A.730 to 286A.750
286A.735
Authority of State Treasurer to issue pension liability bonds
286A.740
Article XI-O Bond Fund
286A.745
Article XI-O Bond Administration Fund
286A.750
Terms and conditions of pension liability bonds
286A.760
Definitions for ORS 286A.760 to 286A.772
286A.762
Authority of State Treasurer to issue bonds
286A.764
Article XI-M Bond Fund
286A.766
Article XI-M Bond Administration Fund
286A.768
Education Seismic Fund
286A.772
Payment of bond-related costs
286A.780
Definitions for ORS 286A.780 to 286A.792
286A.782
Authority of State Treasurer to issue bonds
286A.784
Article XI-N Bond Fund
286A.786
Article XI-N Bond Administration Fund
286A.788
Emergency Services Seismic Fund
286A.792
Payment of bond-related costs
286A.796
Definitions for ORS 286A.796 to 286A.806
286A.798
Authority of State Treasurer to issue bonds
286A.800
School capital matching bond program
286A.801
Matching fund grants to school districts
286A.802
Article XI-P Bond Fund
286A.804
Article XI-P Bond Administration Fund
286A.806
School Capital Matching Fund
286A.808
Oregon School Capital Improvement Matching Account
286A.810
LEED certification of school projects financed with Article XI-P bonds
286A.816
Definitions for ORS 286A.816 to 286A.826
286A.818
Authority of State Treasurer to issue bonds
286A.820
Article XI-Q Bond Fund
286A.822
Article XI-Q Bond Administration Fund
286A.824
Article XI-Q bond program
286A.826
Budgeting for Article XI-Q project costs
286A.830
Definitions for ORS 286A.830 to 286A.863
286A.833
Authority of State Treasurer to issue Article XI-F(1) bonds
286A.836
Loan agreements for Article XI-F(1) bonds
286A.839
Article XI-F(1) Bond Fund
286A.842
Article XI-F(1) Bond Administration Fund
286A.845
Budgeting for Article XI-F(1) bonds
286A.848
Authority of State Treasurer to issue Article XI-G bonds
286A.851
Grant contracts for Article XI-G bonds
286A.854
Article XI-G Bond Fund
286A.857
Article XI-G Bond Administration Fund
286A.860
Budgeting for Article XI-G bonds
286A.863
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