2017 ORS 348.660¹
Determination to issue revenue bonds
  • duties of State Treasurer
  • factors to consider

(1) If the State Treasurer, in consultation with the Higher Education Coordinating Commission, determines that revenue bonds should be issued under ORS 348.570 (Funds in State Treasury) and 348.625 (Definitions for ORS 348.570 and 348.625 to 348.695) to 348.695 (Rights and remedies of bondholders and trustees):

(a) The State Treasurer, in consultation with the commission, may authorize and issue in the name of the State of Oregon revenue bonds secured by revenues from repayment of loans to finance or refinance in whole or part the costs of the loan program. Refunding bonds may be issued to refinance the revenue bonds.

(b) The State Treasurer, in consultation with the commission, shall designate the underwriter, trustee and bond counsel and enter into appropriate agreements with each to carry out the provisions of ORS 348.570 (Funds in State Treasury) and 348.625 (Definitions for ORS 348.570 and 348.625 to 348.695) to 348.695 (Rights and remedies of bondholders and trustees).

(2) Any trustee designated by the State Treasurer, in consultation with the commission, must agree to furnish financial statements and audit reports for each bond issue.

(3) In determining whether to issue revenue bonds under ORS 348.570 (Funds in State Treasury) and 348.625 (Definitions for ORS 348.570 and 348.625 to 348.695) to 348.695 (Rights and remedies of bondholders and trustees), the State Treasurer, in consultation with the commission, shall consider:

(a) The bond market for the types of bonds proposed for issuance.

(b) The terms and conditions of the proposed issue.

(c) Any other relevant factors as the State Treasurer, in consultation with the commission, considers necessary to protect the financial integrity of the state. [1987 c.842 §§9,10; 2011 c.637 §198; 2013 c.747 §132]

1 Legislative Counsel Committee, CHAPTER 348—Student Aid; Education Stability Fund; Planning, https://­www.­oregonlegislature.­gov/­bills_laws/­ors/­ors348.­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.