ORS 353.410
University powers regarding financing agreements and credit enhancement agreements


Oregon Health and Science University may:

(1)

Enter into agreements with third parties to hold financing agreement proceeds, payments and reserves as security for lenders, and to issue certificates of participation in the right to receive payments due from the university under a financing agreement. Amounts so held shall be invested at the direction of the Oregon Health and Science University Board of Directors. Interest earned on any investments held as security for a financing agreement may, at the option of the board, be credited to the accounts held by the third party and applied in payment of sums due under a financing agreement.

(2)

Enter into credit enhancement agreements for financing agreements or certificates of participation, provided that such credit enhancement agreements shall be payable solely from funds specifically pledged, budgeted for or otherwise made available by the university and amounts received from the exercise of property rights granted under such financing agreements.

(3)

Use financing agreements to finance the costs of acquiring or refinancing real or personal property, plus the costs of reserves, credit enhancements and costs associated with obtaining the financing.

(4)

Grant leases of real property with a trustee or lender. Such leases may be for a term that ends on the date on which all amounts due under a financing agreement have been paid or provision for payment has been made, or up to 20 years after the last scheduled payment under a financing agreement, whichever is later. Such leases may grant the trustee or lender the right to evict the university and exclude it from possession of the real property for the term of the lease if the university fails to pay when due the amounts scheduled to be paid under a financing agreement, or otherwise defaults under a financing agreement. Upon default, the trustee or lender may sublease the land to third parties and apply any rentals toward payments scheduled to be made under a financing agreement.

(5)

Grant security interests in personal property to trustees or lenders.

(6)

Make pledges for the benefit of trustees and lenders.

(7)

Purchase fire and extended coverage or other casualty insurance for property that is acquired or refinanced with proceeds of a financing agreement, assign the proceeds thereof to a lender or trustee to the extent of their interest, and covenant to maintain such insurance while the financing agreement is unpaid, so long as available funds are sufficient to purchase such insurance. [1995 c.162 §20; 1999 c.291 §15]

Source: Section 353.410 — University powers regarding financing agreements and credit enhancement agreements, https://www.­oregonlegislature.­gov/bills_laws/ors/ors353.­html.

353.010
Definitions
353.020
Oregon Health and Science University as public corporation
353.030
Public policy of university
353.035
Certain laws to be liberally construed
353.040
Board of directors
353.050
Powers and duties of board and university officials
353.060
President of university
353.070
Products of individuals with disabilities
353.080
Report on activities and operations
353.100
Applicability of laws to university
353.108
Real property and facilities utilized by university
353.110
Authority to acquire private property
353.117
Creation of tax-exempt entity by university
353.120
Adoption of alcohol and drug abuse policy
353.123
Authority regarding resident tuition and scholarships
353.125
Creation of police department and commission of police officers
353.130
Public contracts
353.140
Funding request
353.160
Audits
353.180
Student education records
353.190
Effect of student religious beliefs on admission and attendance
353.200
Rights of students ordered to active duty
353.202
Credit for room, board, tuition and fees for students ordered to active duty
353.205
Credit for education and training received while serving in Armed Forces
353.210
Purpose
353.250
Alternative retirement programs
353.260
Personnel records
353.270
Compensation of officers and employees
353.280
Faculty
353.290
Reductions in faculty
353.300
Political or sectarian test prohibited in appointment of faculty or employees
353.330
Effect of law on bonds, certificates of participation or agreements for borrowing money
353.340
Issuance and sale of revenue bonds by university
353.350
Revenue bonds considered bonds of political subdivision
353.360
Refunding bonds
353.370
Notice to Legislative Assembly required if shortfall in moneys exists for payment of amounts under bonds, certificates of participation or agreements for borrowing money
353.380
Definitions for ORS 353.380 to 353.420
353.390
Authority
353.400
Delegation of board authority
353.410
University powers regarding financing agreements and credit enhancement agreements
353.420
Effect of financing agreement on tax status
353.440
Coordination of programs
353.445
Venture grant program
353.450
Area Health Education Center program
353.455
Family medicine residency network
353.460
Oregon Institute of Occupational Health Sciences
353.470
Funding of institute
353.480
Pediatric dental residency program
353.485
Oregon Psychiatric Access Line program
353.550
Definitions for ORS 353.550 to 353.559 and sections 10, 12, 14, 16 and 18, chapter 921, Oregon Laws 2001
353.553
Short title
353.556
Purpose
353.559
Creation
353.600
Definitions for ORS 353.600 to 353.612
353.603
Grant distribution
353.606
Oregon Nursing Shortage Coalition Committee
353.609
Duties of committee
353.612
Nursing Education Grant Fund
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