2017 ORS 348.685¹
Covenants in actions authorizing bonds
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The official action authorizing the issuance of 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) may contain covenants, notwithstanding that such covenants may limit the exercises of powers conferred by 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) in the following respects and in such other respects as the state, acting through the State Treasurer, in consultation with the Higher Education Coordinating Commission, or the designee of the commission, may decide:

(1) The use and disposition of the revenues from repayment;

(2) The creation and maintenance of special accounts or subaccounts in the Oregon Student Assistance Fund established by ORS 348.570 (Funds in State Treasury) and the regulation, use and disposition thereof;

(3) The purpose or purposes to which the proceeds of sale of bonds may be applied and the use and disposition of such proceeds;

(4) The events of default and the rights and liabilities arising thereon and the terms and conditions upon which the holders of any bonds may bring any suit or action on such bonds or on any coupons appurtenant thereto;

(5) The issuance of other or additional bonds or instruments payable from or constituting a charge against the revenues from repayment;

(6) The keeping of books of account and the inspection and audit of books of account;

(7) The terms and conditions upon which any or all of the bonds shall become or may be declared due before maturity and the terms and conditions upon which such declaration and its consequences may be waived;

(8) The rights, liabilities, powers and duties arising upon the breach of any covenants, conditions or obligations;

(9) The appointing of and vesting in a trustee or trustees of the right to hold or dispose of any funds, accounts, revenues or assets of the alternative student loan program, to receive or assign any pledge of the funds, accounts, revenues or assets or to enforce any covenants made to secure or to pay the bonds, the powers and duties of such trustee or trustees, and the limitation of the liabilities of the trustee or trustees;

(10) The terms and conditions upon which the holder or holders of the bonds, or the holders of any proportion or percentage of them, may enforce any covenants made 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); and

(11) A procedure by which the terms of any official action authorizing bonds or of any other contract with bondholders, including but not limited to an indenture of trust or similar instrument, may be amended or abrogated, and the amount of bonds to which the holders may consent, and the manner in which the consent may be given. [1987 c.842 §15; 2011 c.637 §202; 2013 c.747 §136; 2015 c.513 §19]

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.