(1) A mass transit district may enter into transactions with persons or entities for the supply or delivery of electricity or diesel fuel on an economic, dependable and cost-effective basis, including transactions involving financial products contracts and agreements for exchange of fixed and variable pricing agreements and other service contracts that reduce the risk of economic losses in transactions for the supply or delivery of electricity or diesel fuel.
(2) Notwithstanding subsection (1) of this section, a mass transit district may not enter into a transaction for the supply or delivery of electricity or diesel fuel that:
(a) Constitutes the investment of surplus funds for the purpose of receiving interest or other earnings from the investment; or
(b) Is for any purpose other than the supply or delivery of electricity or diesel fuel on a cost-effective basis. [2007 c.894 §6]
Note: 267.203 was added to and made a part of ORS chapter 267 by legislative action but was not added to any smaller series therein. See Preface to Oregon Revised Statutes for further explanation.
Section: Previous 267.145 267.150 267.155 267.160 267.165 267.170 267.200 267.203 267.205 267.207 267.208 267.210 267.215 267.218 267.220 NextLast modified: August 7, 2008