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2017 Oregon Revised Statutes
Volume : 07 - Public Facilities, Finance
Chapter 285B - Economic Development II
Section 285B.476 - Application of law to revenue bonds; proceeds; maximum duration of loans.
Universal Citation: OR Rev Stat § 285B.476 (2017)
(1) ORS 285B.350 to 285B.362 and 285B.368 apply to revenue bonds issued under ORS 285B.467 to 285B.479.
(2) The proceeds of revenue bonds issued and sold under ORS 285B.467 to 285B.479 shall be deposited in the Special Public Works Fund and used for the payment of a loan to a municipality for a development project and costs of issuing the revenue bonds.
(3) A loan made with money derived from the sale of revenue bonds under this section shall be made as other loans under ORS 285B.419 to 285B.437 and 285B.449 are made, except that the loan contract shall set forth a schedule of payments that may not exceed the usable life of the contracted project. [Formerly 285.747; 2003 c.773 §48; 2005 c.835 §18]
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