Delegation of powers relating to financing agreements
The board of directors of Oregon Community Power may delegate to any board member, or to the chief executive officer, president, general manager or chief financial officer of Oregon Community Power, the authority to determine maturity dates, principal amounts, redemption provisions, interest rates or methods for determining variable or adjustable interest rates, denominations, methods of sale, agreements for the exchange of interest rates as an issuer under ORS 287.025 and other terms and conditions of a financing agreement that are not appropriately determined at the time of enactment or adoption of a resolution authorizing the execution of the financing agreement. The board may also delegate entering into a financing agreement or any other instrument authorized by law. This delegated authority shall be exercised subject to applicable requirements of law and any limitations and criteria as may be set forth in the resolution authorizing the execution of a financing agreement or in Oregon Community Power bylaws. [2007 c.807 §36]
Note: See note under 757.812 (Definitions for ORS 757.812 to 757.950).
Note: 287.025 was repealed by section 234, chapter 783, Oregon Laws 2007. The text of 757.940 (Delegation of powers relating to financing agreements) was not amended by enactment of the Legislative Assembly to reflect the repeal. Editorial adjustment of 757.940 (Delegation of powers relating to financing agreements) for the repeal of 287.025 has not been made.
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