Oregon Statutes 263.250 – Power to lease or contract for use of facilities; use of revenues to pay bonds
In addition to the powers granted under ORS § 263.240, the commission shall also have the power to lease to any municipality or person, or to contract for the use or operation by any municipality or person, of all or any part of the facilities authorized by this chapter, including but not limited to parking facilities, concession facilities of all kinds and any property or property rights appurtenant to such facilities for such period and under such terms and conditions and upon such rental, fees and charges as the commission may determine, and may pledge all or any portion of such rentals, fees and charges and all other revenue derived from the ownership or operation of such facilities to pay and secure the payment of general obligation bonds or revenue bonds issued for authorized purposes. [1985 c.654 § 5]
Terms Used In Oregon Statutes 263.250
- Contract: A legal written agreement that becomes binding when signed.
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- Person: includes individuals, corporations, associations, firms, partnerships, limited liability companies and joint stock companies. See Oregon Statutes 174.100