As used in ORS 283.085 to 283.092:
(1) “Available funds” means funds appropriated or otherwise made available by the Legislative Assembly to pay amounts due under a financing agreement for the fiscal period in which the payments are due, together with any unexpended proceeds of the financing agreement, and any reserves or other amounts which have been deposited in trust to pay amounts due under the financing agreement.
(2) “Credit enhancement agreement” means any agreement or contractual relationship between the state and any bank, trust company, insurance company, surety bonding company, pension fund or other financial institution providing additional credit on or security for a financing agreement or certificates of participation authorized by ORS 283.085 to 283.092.
(3) “Director” means the Director of the Oregon Department of Administrative Services.
(4)(a) “Financing agreement” means a lease purchase agreement, an installment sale agreement, a loan agreement or any other agreement:
(A) To finance real or personal property that is or will be owned and operated by the state or any of its agencies;
(B) To finance infrastructure related to a facility that is owned and operated by the state;
(C) To finance infrastructure components that are owned or operated by a local government agency of this state if the director determines that financing the infrastructure will facilitate the construction or operation of an adult or juvenile corrections facility or a public safety training facility owned and operated by the state or any of its agencies;
(D) To finance all or a portion of the state’s pension liabilities for retirement, health care or disability benefits, in an amount that produces net proceeds that do not exceed the State Treasurer’s estimate of those liabilities based on information provided to the State Treasurer by the Public Employees Retirement System; or
(E) To refinance previously executed financing agreements.
(b) As used in this subsection, “infrastructure” includes, but is not limited to, sewer and water systems and road improvements.
(5) “Personal property” means tangible personal property, software and fixtures.
(6) “Property rights” means, with respect to personal property, the rights of a secured party under ORS chapter 79, and, with respect to real property, the rights of a trustee or lender under a lease authorized by ORS 283.089 (1)(e).
(7) “Software” means software and training and maintenance contracts related to the operation of computing equipment.
(8) “Treasurer” means the State Treasurer. [1989 c.1032 §1; 1993 c.500 §39; 1997 c.715 §3; 2001 c.718 §3; 2003 c.746 §9; 2007 c.783 §94]
Note: 283.085 to 283.092 were enacted into law by the Legislative Assembly but were not added to or made a part of ORS chapter 283 or any series therein by legislative action. See Preface to Oregon Revised Statutes for further explanation.Section: Previous 283.040 283.050 283.060 283.070 283.075 283.076 283.080 283.085 283.087 283.089 283.091 283.092 283.100 283.110 283.120 Next
Last modified: August 7, 2008