ORS 285A.055¹
Prerequisites for certain commission actions

Prior to the approval of bond financing of economic development projects under ORS 285B.320 (Purpose of ORS 285B.320 to 285B.371) to 285B.371 (Loans to eligible projects when state holds no interest), the making of a loan under ORS 285A.666 (Definitions for ORS 285A.666 to 285A.732) to 285A.732 (Short title) or the making of any loan or the granting of any moneys from any source, the Oregon Economic and Community Development Commission, or the Economic and Community Development Department as the designee of the commission, shall:

(1) Determine that the action is cost effective, considering both major public expenses and major public benefits;

(2) Find that the project will produce goods or services which are sold in markets for which national or international competition exists or, if the project is to be constructed and operated by a nonprofit organization, that the project will not compete with local for-profit businesses;

(3) Determine that the action is the best use of the moneys involved, considering other pending applications for those moneys;

(4) Find that the project involved is consistent with the Economic and Community Development Department’s comprehensive policy and programs; and

(5) Find that the project involved is consistent with applicable adopted local economic development plans. [Formerly 285.025; 1999 c.509 §6; 2001 c.883 §2; 2007 c.804 §6]

1 Legislative Counsel Committee, CHAPTER 285A—Economic Development I, https://­www.­oregonlegislature.­gov/­bills_laws/­Archive/­2007ors285A.­pdf (2007) (last ac­cessed Feb. 12, 2009).
2 OregonLaws.org contains the con­tents of Volume 21 of the ORS, inserted along­side the per­tin­ent statutes. See the preface to the ORS An­no­ta­tions for more information.
3 OregonLaws.org assembles these lists by analyzing references between Sections. Each listed item refers back to the current Section in its own text. The result reveals relationships in the code that may not have otherwise been apparent. Currency Information