ORS 286A.001¹
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) "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.

(8) "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.

(9) "Related bond" means a bond for which the State of Oregon enters into an agreement for exchange of interest rates.

(10) "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.

(11) "Revenue bond" means a bond of the State of Oregon that is not a general obligation bond.

(12) "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 182.451, 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.

(13) "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]

Note: 182.451 was repealed by section 58, chapter 71, Oregon Laws 2007. The text of 286A.001 (Definitions for ORS chapter 286A) was not amended by enactment of the Legislative Assembly to reflect the repeal. Editorial adjustment of 286A.001 (Definitions for ORS chapter 286A) for the repeal of 182.451 has not been made.

1 Legislative Counsel Committee, CHAPTER 286A—State Borrowing, https://­www.­oregonlegislature.­gov/­bills_laws/­Archive/­2007ors286A.­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