2015 Oregon Revised Statutes
Volume : 09 - Education and Culture
Chapter 352 - Public Universities
Section 352.402 - Eligibility of university with a governing board to receive proceeds from state bonds; requirements; review by State Treasurer.
(1) A university with a governing board may elect to remain eligible to receive proceeds of state bonds. If a university with a governing board requests the State Treasurer to issue state bonds for the benefit of the university with a governing board that are authorized under Article XI-F(1) or XI-Q of the Oregon Constitution or ORS 283.085 to 283.092, and the state bonds are intended to be repaid in whole or in part by university revenues or other moneys under the control of the university, the State Treasurer must review and approve all plans to issue revenue bonds of the university and to execute other obligations related to the revenue bonds.
(2) The State Treasurer shall limit the scope of review and approval under subsection (1) of this section to consideration of periodic cash flow projections and other information necessary to determine the sufficiency of the cash flow of the university with a governing board to pay any loans from state agencies funded with the proceeds of state bonds and to pay costs for:
(a) State bonds issued for the benefit of the university with a governing board pursuant to Article XI-F(1) or XI-Q of the Oregon Constitution or ORS 283.085 to 283.092; and
(b) Revenue bonds issued pursuant to ORS 352.388 to 352.415.
(3) A university with a governing board that issues revenue bonds of the university, or executes other obligations related to the revenue bonds, without the approval of the State Treasurer as provided in subsection (2) of this section is not eligible to receive proceeds of the state bonds described in subsection (1) of this section and that are intended to be repaid in whole or in part by university revenues or other moneys under the control of the university on or after August 14, 2013.
[Formerly 351.369]
Note: Definitions in ORS 352.029 also apply to ORS 352.388 to 352.415.
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