(1) The Oregon Facilities Authority shall adopt by rule standards by which to determine the eligibility of projects for bond financing pursuant to this chapter. In determining the standards, the authority shall consider all relevant data. The standards of the authority must provide that projects are approved in accordance with criteria reflecting the benefits to the state. Criteria include, but need not be limited to:
(a) Supporting projects that increase the number of decent, affordable housing units in this state;
(b) Expanding the educational resources in this state; or
(c) Expanding the cultural resources in this state.
(2) Upon determining a project as eligible, the authority shall forward the application to the State Treasurer, who shall determine whether to issue the revenue bonds.
(3) The authority may treat as a single eligible project for bonding purposes any number of projects determined to be eligible projects.
(4) The authority shall collect the fees set forth in subsection (5) of this section from an applicant that seeks to have a project declared eligible for financing. The fee identified in subsection (5)(a) of this section may be collected even though the project has not been determined to be eligible for financing.
(5) The fees described in subsection (4) of this section are:
(a) An application fee determined by the Oregon Facilities Authority by rule.
(b) A closing fee not to exceed one-half of one percent of the total bond issue for the project, as determined by the authority.
(6) The authority shall deposit fees received under subsection (5) of this section in the Oregon Facilities Authority Account established under ORS 289.130. [1989 c.820 §4; 1991 c.408 §4; 2007 c.785 §5]Section: Previous 289.005 289.010 289.100 289.105 289.110 289.115 289.120 289.125 289.130 289.200 289.205 289.210 289.215 289.220 289.225 Next
Last modified: August 7, 2008