Oregon Statutes 289.115 – Functions
In carrying out its duties under this chapter, the Oregon Facilities Authority, acting for and in behalf of the state as its duly authorized agency, may:
Terms Used In Oregon Statutes 289.115
- Authority: means the Oregon Facilities Authority created by this chapter. See Oregon Statutes 289.005
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Project: means the financing or refinancing of the costs, including, without limitation, acquisition, construction, enlargement, remodeling, renovation, improvement, furnishing and equipping, of the following:
(i) In the case of a participating institution that is an institution for higher education, an institution for prekindergarten through grade 12 education or a school for persons with disabilities, a structure, within this state or outside this state, that is suitable for use as a dormitory or other multiunit housing facility for students, faculty, officers or employees, or a dining hall, student union, administration building, academic building, library, laboratory, research facility, classroom, athletic facility, health care facility, maintenance, storage or utility facility and other structures or facilities, within this state or outside this state, that are related to any of the structures required or used for the instruction of students, the conducting of research or the operation of an institution for higher education, an institution for prekindergarten through grade 12 education or a school for persons with disabilities. See Oregon Statutes 289.005
- within this state: means that the institution:
(a) Maintains its headquarters, principal office or primary place of business in the State of Oregon;
(b) Owns or operates one or more facilities in the State of Oregon at which it conducts operations in furtherance of its institutional mission; or
(c) Is owned or controlled by, or affiliated under common ownership with, an institution described in paragraph (a) or (b) of this subsection. See Oregon Statutes 289.005
(1) Acquire, construct and hold in whole or in part any lands, buildings, easements, water and air rights, improvements to lands and buildings and capital equipment to be located permanently or used exclusively on such lands or in such buildings, which are considered necessary in connection with an eligible project to be situated within this state, and construct, reconstruct, improve, better and extend such projects, and enter into contracts therefor; and
(2) Sell and convey all properties acquired in connection with eligible projects, including without limitation the sale and conveyance thereof subject to any mortgage and the sale and conveyance thereof under an option granted to the lessee of the eligible project, for such price, and at such time as the state may determine. However, no sale or conveyance of such properties shall ever be made in such manner as to impair the rights of interests of the holder, or holders, or any bonds issued under the authority of this chapter. [1989 c.820 § 7; 1991 c.408 § 3]