(a) Pay any rebates of earnings or penalties to the United States;
(b) Invest proceeds alone or in combination with other moneys in investments that have different maturities, yields or credit qualities than the state would acquire under the investment standards specified in ORS 293.721 and 293.726 and other similar laws, but only if those investments facilitate compliance with covenants described in this subsection; or
(c) Restrict the expenditure of bond proceeds or restrict the operation of, or otherwise limit the use of, facilities that are financed with bonds.
(2) When the State of Oregon receives interest rate subsidies from the United States in connection with bonds, the State Treasurer or the related agency, to the extent permitted by federal law, may:
(a) Apply the subsidies to pay bonds of the related agency and credit the subsidies to an account that is used to pay bonds of the related agency;
(b) Pledge the subsidies to secure bonds of the related agency; or
(c) Use the subsidies to pay costs that would otherwise be paid with proceeds of bonds of the related agency and credit the subsidies to accounts that are used to pay the costs. [2007 c.783 §23; 2010 c.3 §6]
Copyright ©2024 LegalFix. All rights reserved. LegalFix is not a law firm, is not licensed to practice law, and does not provide legal advice, services, or representation. The information on this website is an overview of the legal plans you can purchase—or that may be provided by your employer as an employee benefit or by your credit union or other membership group as a membership benefit.
LegalFix provides its members with easy access to affordable legal services through a network of independent law firms. LegalFix, its corporate entity, and its officers, directors, employees, agents, and contractors do not provide legal advice, services, or representation—directly or indirectly.
The articles and information on the site are not legal advice and should not be relied upon—they are for information purposes only. You should become a LegalFix member to get legal services from one of our network law firms.
You should not disclose confidential or potentially incriminating information to LegalFix—you should only communicate such information to your network law firm.
The benefits and legal services described in the LegalFix legal plans are not always available in all states or with all plans. See the legal plan Benefit Overview and the more comprehensive legal plan contract during checkout for coverage details in your state.
Use of this website, the purchase of legal plans, and access to the LegalFix networks of law firms are subject to the LegalFix Terms of Service and Privacy Policy.