2017 ORS 280.425¹
City powers concerning property

In carrying out the provisions of ORS 280.410 (Definitions for ORS 280.410 to 280.485) to 280.485 (Effect of ORS 280.410 to 280.485 on powers of city), a city may:

(1) Acquire by agreement, donation or exercise of eminent domain, construct and hold in whole or in part any lands, buildings, easements, water and air rights, improvements to lands and buildings and capital equipment to be located permanently or used exclusively on such lands or in such buildings, which are deemed necessary in connection with an eligible project to be situated within the city and construct, reconstruct, improve, better and extend such projects, and enter into contracts therefor.

(2) Sell and convey all properties acquired in connection with eligible projects, including without limitation the sale and conveyance thereof subject to any mortgage and the sale and conveyance thereof under an option granted to the lessee of the eligible project, for such price, and at such time as the city may determine. However, no sale or conveyance of such properties shall ever be made in such manner as to impair the rights of interests of the holder, or holders, of any bonds issued under the authority of ORS 280.410 (Definitions for ORS 280.410 to 280.485) to 280.485 (Effect of ORS 280.410 to 280.485 on powers of city).

(3) Make or participate in the making of loans, including mortgage loans, to provide for the construction, substantial rehabilitation or permanent financing of eligible projects and undertake commitments to make such loans. Mortgage loans under this section may include loans for the development of multiple unit residential housing and low income single room occupancy housing to housing sponsors qualified under standards adopted by the city pursuant to ORS 280.410 (Definitions for ORS 280.410 to 280.485) to 280.485 (Effect of ORS 280.410 to 280.485 on powers of city).

(4) For mortgage loans under subsection (3) of this section and ORS 280.430 (Contractual powers of city) (5), purchase and sell those mortgage loans at public or private sale; modify or alter such mortgages; foreclose on any such mortgage or security interest or commence any action to protect or enforce any right conferred upon the city by any law, mortgage, security, agreement, contract or other agreement and bid for and purchase property that is subject to such mortgage or security interest at any foreclosure or other sale; acquire or take possession of any such property and complete, administer, pay the principal and interest on any obligations incurred in connection with such property and dispose of such property in such a manner as the city determines necessary to protect its interest under ORS 280.410 (Definitions for ORS 280.410 to 280.485) to 280.485 (Effect of ORS 280.410 to 280.485 on powers of city). [1977 c.772 §5; 1979 c.865 §3; 1981 c.368 §3; 2003 c.286 §3]

1 Legislative Counsel Committee, CHAPTER 280—Financing of Local Public Projects and Improvements; City and County Economic Development, https://­www.­oregonlegislature.­gov/­bills_laws/­ors/­ors280.­html (2017) (last ac­cessed Mar. 30, 2018).
 
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.