(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:

Terms Used In Oregon Statutes 289.125

  • Authority: means the Oregon Facilities Authority created by this chapter. See Oregon Statutes 289.005
  • 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

  • revenue bonds: means revenue bonds, as defined in ORS § 286A. See Oregon Statutes 289.005

(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]