2015 Oregon Revised Statutes
Volume : 07 - Public Facilities, Finance
Chapter 285B - Economic Development II
Section 285B.419 - Administration of Special Public Works Fund; rules and policies.

(1) The Oregon Business Development Department shall adopt rules and policies for the administration of the Special Public Works Fund. All forms of assistance are subject to the rules and policies of the department.

(2) The Oregon Infrastructure Finance Authority shall manage the Special Public Works Fund and any expenditures from its accounts and transfers between its accounts so that the fund provides a continuing source of financing for development or planning projects consistent with ORS 285B.413.

(3) The authority may commit moneys in the Special Public Works Fund or reserve future income to the fund for disbursal in future years under ORS 285B.440. The authority shall commit or reserve moneys under this subsection only after:

(a) Allowing for contingencies;

(b) Finding that there will be sufficient unobligated net income to the fund to make the future payments, consistent with the financial requirements of subsections (2) and (3) of this section; and

(c) Providing in any contract for the commitment that the liability of the state to make the annual payments shall be contingent on the availability of moneys in the Special Public Works Fund.

(4) In assisting municipalities with projects, the authority shall cooperate to the maximum extent possible with other state and federal agencies.

[Formerly 285.707; 1999 c.509 §22; 2001 c.633 §2; 2001 c.883 §29; 2003 c.773 §30; 2005 c.835 §5; 2009 c.830 §95]