Oregon Statutes 530.612 – Powers of authority
Except as otherwise provided in ORS § 530.610, a community forest authority shall have the power necessary to accomplish the purpose of financing community forestlands under ORS § 530.600 to 530.628, including the power to:
Terms Used In Oregon Statutes 530.612
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
(1) Sue and be sued in its own name.
(2) Enter into agreements relating to the operation of community forestlands upon terms and conditions the board deems appropriate.
(3) Borrow money by issuing notes, revenue bonds or other revenue obligations for the purpose of carrying out its powers.
(4) Mortgage, assign and pledge its assets, or a portion of its assets, whether then owned or thereafter acquired, to pledge and assign the revenues and receipts from the assets, to acquire, hold and dispose of mortgages or other similar documents relating to community forestlands and to arrange and provide for guarantees and other security agreements.
(5) Lend money to a nonprofit corporation for the acquisition, furnishing or extension of and improvements to community forestlands.
(6) Enter into contracts, leases and other undertakings in its own name.
(7) Adopt and amend ordinances and resolutions. [2005 c.500 § 7]
See note under 530.600.