With the approval of the State Treasurer, a related agency may lend moneys derived from an issuance and sale of bonds to a pass-through revenue bond borrower of proceeds from outstanding, previously issued pass-through revenue bonds for the purpose of paying a termination payment due under an agreement for exchange of interest rates entered into by the pass-through revenue bond borrower in relation to the outstanding, previously issued pass-through revenue bonds. [2009 c.538 § 4; 2023 c.174 § 3]

Terms Used In Oregon Statutes 286A.118

  • Agreement for exchange of interest rates: means a contract, or an option or forward commitment to enter into a contract, for the exchange of interest rates that provides for:

    (a) Payments based on levels of or changes in interest rates; or

    (b) Provisions to hedge payment, rate, spread or similar exposure including, but not limited to, an interest rate floor or cap or an option, put or call. See Oregon Statutes 286A.001

  • Related agency: means the state agency that requests the State Treasurer to issue bonds pursuant to ORS § 286A. See Oregon Statutes 286A.001
  • Revenue: means all fees, tolls, excise taxes, assessments, property taxes and other taxes, rates, charges, rentals and other income or receipts derived by a state agency or to which a state agency is entitled. See Oregon Statutes 286A.001
  • Revenue bond: means a bond of the State of Oregon that is not a general obligation bond. See Oregon Statutes 286A.001
  • Termination payment: means the amount payable under an agreement for exchange of interest rates by one party to another party as a result of the termination, in whole or part, of the agreement prior to the expiration of the stated term. See Oregon Statutes 286A.001

 

  Previous section
Next section  
 Administration of Bonds Contents