Oregon Code § 283.087·Enacted ·Last updated March 01, 2026
Statute Text
Financing agreements; limitations.
(1) The Director of the Oregon Department of Administrative Services may enter
into financing agreements in accordance with ORS 283.085 to 283.092.
(2) Financing
agreements entered into under ORS 283.085 to 283.092 are subject to the
following limitations:
(a) Neither the
director nor any other agency of the state may pay amounts due under a
financing agreement from any source other than available funds. If there are
insufficient available funds to pay amounts due under a financing agreement,
the lender may exercise any property rights which the state has granted to it
in the financing agreement, against the property which was purchased with the
proceeds of the financing agreement, and apply the amounts so received toward
payments scheduled to be made by the state under the financing agreement.
(b) Neither the
director nor any other agency of the state may grant property rights in
property unless the property is being acquired, substantially improved or
refinanced with proceeds of a financing agreement entered into under ORS