2011 Oregon Revised Statutes
ORS Volume 10, Chapters 366 - 430
ORS Chapter 391
391.610 Expenses of authority; borrowed funds.
All expenses of the Oregon Mass Transportation Financing Authority incurred in carrying out the provisions of ORS 267.227 and 391.500 to 391.660 shall be payable solely from funds provided under the authority of ORS 267.227 and 391.500 to 391.660. For the purposes of meeting the necessary expenses of initial organization and operation until such date as the authority derives moneys from funds provided hereunder, the authority shall be empowered to borrow moneys from districts, and districts are empowered to lend money to the authority as may be required and agreed for such necessary expenses of organization and operation. Expenses incurred by the authority in connection with any application by a district for financial assistance under ORS 267.227 and 391.500 to 391.660 may be paid from the proceeds of bonds issued by the authority. [1977 c.662 13; 2007 c.531 18]
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