(1) The Secretary of State shall conduct a financial audit of the bond programs of each state agency at least annually. The Secretary of State shall publish the audit as soon as possible following the end of the audit period.
(2) The Oregon Department of Administrative Services may, on an annual basis, exempt a bond program from the requirements of subsection (1) of this section. [2007 c.783 §26]
286A.250 State Debt Policy Advisory Commission; membership; compensation; quorum; meetings; personnel. (1) There is established a State Debt Policy Advisory Commission, consisting of five members.
(2) The State Treasurer and the Director of the Oregon Department of Administrative Services shall serve as ex officio members of the commission. One member of the commission shall be a member of the Senate appointed by the President of the Senate. One member of the commission shall be a member of the House of Representatives appointed by the Speaker of the House. One member of the commission shall be a public member, knowledgeable on matters of public finance, appointed by the Governor from among those persons recommended by the State Treasurer.
(3) The term of an appointed member is two years, but an appointed member serves at the pleasure of the appointing authority. Before the expiration of the term of an appointed member, the appointing authority shall appoint a successor. If there is a vacancy for any reason in the office of an appointed member, the appointing authority shall make an appointment to become immediately effective for the unexpired term.
(4) A member of the commission is entitled to compensation and expenses as provided in ORS 292.495.
(5) The State Treasurer shall serve as chairperson of the commission, with such duties and powers necessary for the performance of that office as the commission determines appropriate.
(6) A majority of the members of the commission constitutes a quorum for the transaction of business.
(7) The commission shall meet at least once every six months at a place and time determined by the commission. The commission also shall meet at other times and places specified by the call of the chairperson or of a majority of the members of the commission.
(8) The office of the State Treasurer shall provide the commission with office space and clerical and other administrative support. [Formerly 286.550]
Note: 286A.250 and 286A.255 were enacted into law by the Legislative Assembly but were not added to or made a part of ORS chapter 286A or any series therein by legislative action. See Preface to Oregon Revised Statutes for further explanation.Section: Previous 286A.120 286A.130 286A.132 286A.145 286A.160 286A.185 286A.190 286A.195 286A.255 286A.560 286A.563 286A.566 286A.570 286A.573 286A.576 Next
Last modified: August 7, 2008