2017 ORS 757.942¹
Powers of Oregon Community Power relating to financing agreements

Oregon Community Power 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 Oregon Community Power under a financing agreement. Amounts so held shall be invested at the direction of the board of directors of Oregon Community Power. 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 any credit enhancement agreements shall be payable solely from funds specifically pledged, budgeted for or otherwise made available by Oregon Community Power and amounts received from the exercise of property rights granted under the financing agreements.

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

(4) Grant security interests in property to trustees or lenders.

(5) Make pledges for the benefit of trustees and lenders.

(6) 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 any insurance while the financing agreement is unpaid, as long as available funds are sufficient to purchase the insurance. [2007 c.807 §37]

Note: See note under 757.812 (Definitions for ORS 757.812 to 757.950).

Chapter 757

Notes of Decisions

Under regulatory scheme, Public Utility Commissioner has authority to promulgate rule limiting telephone company’s liability for directory listing errors or omissions. Garrison v. Pacific NW Bell, 45 Or App 523, 608 P2d 1206 (1980)

Refund is proper exercise of Public Utility Commission’s general powers if refund (1) is based only on in­for­ma­­tion in existence at time of rate order for which refund is being made; (2) is not based on evalua­tion of public utility’s actual expenses or revenues; and (3) is not effectuated by offsetting future rates. Gearhart v. Public Utility Commission, 255 Or App 58, 299 P3d 533 (2013), aff’d 356 Or 216, 339 P3d 904 (2014)

Atty. Gen. Opinions

Authority of Governor and Public Utility Commissioner to enter into binding agree­ments with respect to uniform curtail­ment plans, (1977) Vol 38, p 861

1 Legislative Counsel Committee, CHAPTER 757—Utility Regulation Generally, https://­www.­oregonlegislature.­gov/­bills_laws/­ors/­ors757.­html (2017) (last ac­cessed Mar. 30, 2018).
 
2 Legislative Counsel Committee, Annotations to the Oregon Revised Stat­utes, Cumulative Supplement - 2017, Chapter 757, https://­www.­oregonlegislature.­gov/­bills_laws/­ors/­ano757.­html (2017) (last ac­cessed Mar. 30, 2018).
 
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.