Oregon Statutes 276.009 – Acquisition of state office buildings by installment payments or lease purchase
(1) The Oregon Department of Administrative Services may enter into an agreement or agreements with financial institutions to fund or otherwise acquire state office buildings and parking facilities by installment purchase or lease purchase contracts as provided in ORS § 276.429. Any moneys so obtained shall be deposited in the Capital Projects Fund. Such acquired facilities may be located in the Capitol Mall area or in communities throughout the state.
Terms Used In Oregon Statutes 276.009
- Department: means the Oregon Department of Administrative Services. See Oregon Statutes 276.001
- Escrow: Money given to a third party to be held for payment until certain conditions are met.
- 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
- Trustee: A person or institution holding and administering property in trust.
(2) In addition to and not in lieu of any other moneys made available by law, there is established as the maximum amount to be expended for the purposes authorized in subsection (1) of this section and ORS § 276.005 (1) the following amounts for the following purposes:
(3) Subsection (2) of this section does not limit, affect or apply to any expenditures by the department for interest payments while the facilities are under construction, bond counsel and underwriter’s fees, legal fees, escrow or trustee fees, lessor fees or repayment reserves as may be required by the financial institutions. [1983 c.667 § 2]
276.009 was enacted into law by the Legislative Assembly but was not added to or made a part of ORS Chapter 276 or any series therein by legislative action. See Preface to Oregon Revised Statutes for further explanation.