2017 ORS 367.650¹
Trust indenture to secure bonds
  • provisions

At the discretion of the State Treasurer, bonds issued under ORS 367.615 (Bond issuance) may be secured by a trust indenture. A trust indenture established under this section is subject to the following:

(1) The trust indenture shall be by and between the state and a trustee.

(2) The trustee may be any trust company or bank having the powers of a trust company whether inside or outside the state.

(3) The trustee may act as custodian as provided for by indenture under ORS 367.640 (Indenture).

(4) The trustee must be jointly appointed by the director and the State Treasurer.

(5) The trustee shall be vested with such powers and duties as provided for by indenture under ORS 367.640 (Indenture). [1985 c.551 §9]

1 Legislative Counsel Committee, CHAPTER 367—Transportation Financing; Projects, https://­www.­oregonlegislature.­gov/­bills_laws/­ors/­ors367.­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.