Oregon Code § 367.040·Enacted ·Last updated March 01, 2026
Statute Text
Loans
to state agencies; loan contract.
(1) Notwithstanding ORS 283.087 (4), an agency may obtain an infrastructure
loan the principal amount of which, when combined with the principal amount of
financing agreements previously entered into for the same project, is more than
$100,000 for the project. An agency may agree to pay the infrastructure loan
from any or all of the available moneys of the agency and may pledge all or any
portion of those moneys to repay the infrastructure loan. An infrastructure
loan of an agency does not constitute a debt of the state or a lending of the
credit of the state within the meaning of any constitutional or statutory
limitation.
(2) If an
infrastructure loan is made to an agency, the terms of the infrastructure loan
contract bind the State of Oregon and the agency, and the agency shall
unconditionally repay the infrastructure loan from the moneys the agency has
pledged in accordance with the terms of the infrastructure loan contract. [1997
c.679 §8; 2003 c.201 §15; 2013 c.767 §6]
Plain English Explanation
This Oregon statute addresses Loans
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Key Points
01Part of Oregon statutory law
02Referenced as Oregon Code § 367.040
03Subject to legislative amendments
04Consult a licensed attorney for application to specific cases
Frequently Asked Questions
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