2017 ORS 286A.851¹
Grant contracts for Article XI-G bonds

(1) Prior to the sale of any Article XI-G bonds, except for refunding bonds, a public university or a community college and the Higher Education Coordinating Commission must enter into a grant contract.

(2) The grant contract must include:

(a) A certification that the requirement for a matching amount is satisfied;

(b) Terms and conditions obligating the public university or community college to maintain any federal tax benefit related to the Article XI-G bonds and to execute and deliver any required tax certificates or agreements in connection with any federal tax benefit related to the Article XI-G bonds; and

(c) Terms and conditions indemnifying the State of Oregon against regulatory or bondholder liability due to the action or inaction of the public university or community college related to the Article XI-G bonds.

(3) The grant contract may include:

(a) Reporting and accounting requirements or other conditions necessary or advisable to ensure that moneys are expended for intended purposes;

(b) Terms and conditions that are necessary or advisable to ensure compliance with applicable laws or regulations; and

(c) Provisions for the payment of fees by a community college to cover costs of the commission relating to the execution of the commission’s responsibilities under the grant contract. [2015 c.828 §9; 2016 c.66 §11; 2017 c.9 §11]

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