ORS 285B.335
Powers of department

  • lease requirements

(1)

In addition to any other powers granted by law or by charter, the Oregon Business Development Department may:

(a)

Enter into agreements to finance the costs of an eligible project by loaning or otherwise making available the proceeds of bonds authorized by ORS 285B.344 (Issuance of bonds) to a person, an agency of the federal government or state government, as defined in ORS 174.111 (“State government” defined), under terms and with security approved by the department.

(b)

Lease and sublease eligible projects to a person, an agency of the federal government or state government, as defined in ORS 174.111 (“State government” defined), subject to subsection (2) of this section.

(c)

Pledge or assign all or part of the revenues of one or more eligible projects owned or to be acquired by the state to the holders of bonds issued under this section or to a trustee for the holders, and segregate the revenues or provide for payment of the revenues to the trustee.

(d)

Mortgage or otherwise encumber eligible projects in favor of the holders of bonds issued under this section, a trustee for the holders of the bonds, or an escrow agent, vendor, lender, other financing party or trustee for the bonds without obligating the state except with respect to the project.

(e)

Make contracts, execute instruments and do what is necessary or desirable to exercise the powers granted by this section, to perform the covenants or duties of this state or to secure the payment of bonds issued under this section. Contracts that may be made by the state include, but are not limited to, contracts entered into prior to construction, acquisition or installation of an eligible project that authorize, subject to terms and conditions the state finds necessary or desirable, a lessee to provide for construction, acquisition or installation of buildings, improvements or equipment to be included in the project.

(f)

Enter into and perform contracts and agreements with participating institutions for the planning, construction, installation, acquisition, leasing or financing of facilities of an eligible project, including a contract or agreement that establishes a body for the supervision and general management of the facilities.

(g)

Accept loans or grants for the planning, construction, installation, acquisition, leasing or other provision of an eligible project from an authorized agency of the federal government, and enter into agreements with the agency respecting the loans or grants.

(h)

Acquire, own, sell, assign or otherwise hold legal or equitable title to or an interest in eligible projects or hold federal tax ownership of eligible projects.

(2)

A lease or sublease entered into under subsection (1)(b) of this section must provide that:

(a)

Rents charged for the use of the project are established and revised as necessary to produce sufficient revenue to allow for payment of the principal of and interest on bonds issued under this chapter when due; and

(b)

The lessee or sublessee is required to pay:

(A)

The expenses of the operation and maintenance of the project including, but not limited to, adequate insurance on the project and insurance against liability for injury to persons or property arising from the operation of the project; and

(B)

The taxes and special assessments levied upon the leased or subleased premises and payable during the term of the lease or sublease.

(3)

During the term of a lease or sublease entered into under subsection (1)(b) of this section, ad valorem taxes must be imposed on the real and personal property of the eligible project in the same manner as the taxes would be imposed if the lessee or sublessee were the owner of the eligible project. [Formerly 285.335; 1999 c.509 §34; 2001 c.680 §5; 2003 c.167 §11; 2007 c.783 §98; 2009 c.830 §87]

Source: Section 285B.335 — Powers of department; lease requirements, https://www.­oregonlegislature.­gov/bills_laws/ors/ors285B.­html.

285B.050
Definitions for ORS 285B.050 to 285B.098
285B.053
Borrowing money from Oregon Business Development Fund
285B.056
Fees
285B.059
Conditions for commission approval of project
285B.062
Loan contract
285B.063
Annual adjustment of maximum contract amounts
285B.065
Loans in distressed areas exempt from security and collateral requirements
285B.068
Payment of moneys for project
285B.080
Director as agent
285B.081
Repayment and collection
285B.083
Use of refinancing and other financial assistance for repayment
285B.086
Authorization to lend funds for joint governmental projects or match money
285B.089
Loan contract
285B.092
Oregon Business Development Fund
285B.093
Oregon Targeted Development Account
285B.098
Status of loan to county or municipality
285B.109
Definitions for ORS 285B.109 to 285B.119
285B.111
Purpose of ORS 285B.109 to 285B.119
285B.113
Contracts with financial institutions to participate in program
285B.115
Loss reserve accounts
285B.117
Enrollment of qualified loan in program
285B.118
Claims for reimbursement of losses
285B.119
Capital Access Fund
285B.120
Oregon Small Business Development Act
285B.123
Purpose
285B.130
Loans from Small Business Expansion Loan Fund
285B.133
Small Business Expansion Loan Fund
285B.165
Purpose of ORS 285B.165 to 285B.171
285B.168
Grants
285B.169
Centers to collaborate with state agencies and private sector
285B.171
Short title
285B.174
Programs to assist businesses in procuring government contracts and grants
285B.178
Definitions for Microenterprise Development Act
285B.179
Purposes of Microenterprise Development Act
285B.186
Short title
285B.200
Definitions for ORS 285B.200 to 285B.218
285B.203
Purpose of Credit Enhancement Fund
285B.206
Duties of department
285B.209
Fees and terms for loan and credit guarantees
285B.215
Credit Enhancement Fund
285B.218
Pledge to assure repayment
285B.230
Local economic development strategy
285B.233
Legislative findings
285B.236
Guidelines for local economic development strategies
285B.260
Local Economic Opportunity Fund
285B.266
Strategic Reserve Fund
285B.280
Definition of “traded sector.”
285B.283
Policy
285B.286
Entrepreneurial and industry development activities
285B.290
Industry Competitiveness Fund
285B.320
Purpose of ORS 285B.320 to 285B.371
285B.323
Definitions for ORS 285B.320 to 285B.371
285B.326
Request for issuance of bonds
285B.329
Review of project by commission
285B.335
Powers of department
285B.338
Powers of commission
285B.341
Limitation on state power
285B.344
Issuance of bonds
285B.350
Method of issuing bonds
285B.353
Administrative expenses
285B.356
Refunding bonds
285B.359
Validity of bonds
285B.362
Covenants in bonds
285B.365
Limitations of bonds
285B.368
Powers and rights of bondholders
285B.371
State interest in eligible projects not necessary for loans
285B.410
Definitions for ORS 285B.410 to 285B.482
285B.413
Legislative findings
285B.419
Administration of Special Public Works Fund
285B.420
Financial assistance for levee projects
285B.421
Levee Project Grant Fund
285B.422
Funding to municipalities for development projects
285B.428
Application for funds
285B.437
Contract with municipality
285B.440
Primary use of moneys in fund
285B.449
Effect of failure to comply or default
285B.455
Special Public Works Fund
285B.456
Levee Project Subaccount
285B.458
Grants for assistance to distressed or rural areas
285B.460
Funding and assistance for planning projects
285B.462
Funding and assistance for emergency projects
285B.465
Allowable costs of projects
285B.467
Oregon Infrastructure Finance Authority to determine eligibility for revenue bond financing
285B.470
Powers of authority
285B.473
Issuance of revenue bonds
285B.476
Application of law to revenue bonds
285B.479
Nature of revenue bonds
285B.482
Revenue bonds as parity bonds
285B.500
Purpose of ORS 285B.500 to 285B.512
285B.503
Oregon Unified International Trade Fund
285B.506
Grant agreements
285B.509
Agreements between primary sponsor and United States
285B.512
End of lottery allocations upon certification by administrator of authority
285B.515
“Primary sponsor” and “project sponsor” defined
285B.530
Definitions for ORS 285B.530 to 285B.548
285B.533
Issuance of infrastructure lottery bonds
285B.548
Amount of infrastructure lottery bonds
285B.551
Issuance of additional lottery bonds
285B.560
Definitions for ORS 285B.560 to 285B.599
285B.563
Water Fund
285B.566
Use of awards
285B.569
When constitutional restrictions apply to use of certain funds
285B.572
Eligibility of project for revenue bond financing
285B.575
Issuance of revenue bonds
285B.578
Nature of revenue bonds
285B.581
Repayment plans
285B.584
Powers of authority
285B.587
Deposit and use of bond proceeds
285B.590
Other forms of financial assistance
285B.593
Technical assistance grants and loans
285B.596
Funding of distressed area or nonurban water projects
285B.599
Effect of failure to repay to Water Fund
285B.600
Definitions for ORS 285B.600 to 285B.620
285B.602
Rules
285B.605
Certification of eligible employers
285B.608
Application for certification
285B.610
Revocation of certificate
285B.615
Oregon Business Retention and Expansion Program
285B.618
Department estimate of program tax revenues
285B.620
Oregon Business Retention and Expansion Program Fund
285B.622
Transfer of moneys from Strategic Reserve Fund
285B.625
Legislative findings
285B.626
Definitions for ORS 285B.625 to 285B.632
285B.627
Oregon Industrial Site Readiness Program
285B.630
Department to obtain employment and wage information for eligible employers at regionally significant industrial sites and determine estimated incremental income tax revenues
285B.632
Oregon Industrial Site Readiness Program Fund
285B.635
Legislative findings
285B.636
Definitions for ORS 285B.635 to 285B.640
285B.637
Oregon Industrial Site Readiness Assessment Program
285B.640
Oregon Industrial Site Readiness Assessment Program Fund
285B.642
Findings in furtherance of economic development
285B.651
Definitions for ORS 285B.651 to 285B.676
285B.655
Distributions to assist rural jurisdictions with applications for funding
285B.660
Oregon Business Development Department to develop policy for distributions, work with district association, oversee rural grant services
285B.670
Annual report to legislature by Oregon Business Development Department
285B.676
Oregon Rural Capacity Fund
285B.740
Legislative intent
285B.743
Application for entrepreneurial development loan
285B.746
Conditions for loan approval
285B.749
Additional conditions for loan approval
285B.753
Indexing of annual revenue limit amount and maximum loan amount
285B.758
Oregon Entrepreneurial Development Loan Fund
285B.764
Definitions for ORS 285B.764 to 285B.775
285B.768
Oregon Business Development Department to develop and implement loan program
285B.771
Application process
285B.774
Disadvantaged and Emerging Small Business Loan Fund
285B.775
Annual report by Oregon Business Development Department to legislature
285B.780
Purpose
285B.784
Definitions for ORS 285B.780 to 285B.799
285B.787
RFP process for awards to lenders
285B.791
Agreements with lenders
285B.794
Annual report by lenders
285B.797
Release of lender and use of balance in account
285B.799
Biennial report by Oregon Business Development Department to legislature
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