Oregon Statutes 391.510 – Definitions for ORS 391.500 to 391.660
As used in ORS § 267.227 and 391.500 to 391.660, unless the context otherwise requires:
Terms Used In Oregon Statutes 391.510
- Devise: To gift property by will.
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
- 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
(1) ‘Acquire’ or ‘acquisition’ means the acquisition, by purchase, lease, gift, grant, devise, construction, installation, reconstruction, repair and alteration, and the equipment, improvement and extension of mass transit facilities.
(2) ‘Authority’ means the Oregon Mass Transportation Financing Authority created by ORS § 267.227 and 391.500 to 391.660.
(3) ‘Board’ means the members of the authority created in ORS § 391.520.
(4) ‘District’ means a mass transit district established under ORS § 267.010 to 267.394.
(5) ‘Finance’ or ‘financing’ means the issuance of revenue bonds pursuant to ORS § 391.570 by the authority for the purpose of providing financial assistance to districts.
(6) ‘Financial assistance’ means the providing of methods of financing of costs of mass transit facilities under ORS § 267.227 and 391.500 to 391.660.
(7) ‘Mass transit facility’ or ‘facilities’ means any or all property constituting a mass transit system, or any portion thereof, in any manner owned, used, leased or operated by a district and which is located wherever a district is authorized to operate. [1977 c.662 § 3]