Oregon Revised Statutes Chapter 465 § 465.603 — Procedure to create public authority

Procedure to create public authority. (1) A local government may, upon its own motion, consider whether it is advisable to create an authority for the purpose of acquiring, rehabilitating, redeveloping, reutilizing or restoring brownfield properties that are located within the geographic boundaries over which the local government has jurisdiction. (2) If the local government, after public hearing according to the local government’s rules, determines that it is wise and desirable to create in an authority the powers and duties set forth in ORS 465.600 to 465.621, the local government shall by ordinance or resolution create such an authority. The ordinance or resolution shall set forth: (a) The name of the authority, which shall be “The Land Bank Authority of (local government), Oregon” or other similar distinctive name. (b) The number of directors of the authority, which must be an odd number not less than five or more than 11. (c) The names of the initial directors and their initial terms of service, which may not exceed four years. (d) Other provisions that may be appropriate and not inconsistent with ORS 465.600 to