(2) The authority shall issue revenue obligations only by bond resolution duly adopted by its board of directors. The bond resolution shall specify the public purposes for which the proceeds of the revenue obligations shall be expended, declare the estimated cost of carrying out such purposes, contain such covenants, and provide for the issuance and sale of revenue obligations in such form and amount as the directors determine. In declaring such cost, the directors may include the funds necessary for working capital during construction, reserves, interest during construction, the payment of organizational, planning, financing and legal expenses, the repayment of advances and the start-up costs. The bond resolution may provide that hospital facilities subsequently acquired or constructed by the authority shall be deemed betterments or additions to, or extensions of, the specified hospital facility, whether or not physically connected.
(3) The bond resolution shall provide for the establishment of one or more special funds, and such funds may be under the control of the board or one or more trustees. The bond resolution shall obligate the authority to deposit and expend the proceeds of the revenue obligations only into and from such fund or funds, and to set aside and pay into such fund or funds any fixed proportion or fixed amount of the revenues derived by it from any or all of its hospital facilities or other corporate activities, as the board finds in the best interest of the authority and the payment of its obligations. The authority may issue and sell revenue obligations payable as to interest and principal only out of such fund or funds.
(4) Any revenue obligations issued against any fund or funds provided for in subsection (3) of this section shall be a valid claim of the holder thereof only as against such special fund or funds, the proportion or amount of the revenues pledged to such fund or funds and such assets as the authority may have pledged. Each such revenue obligation shall state on its face that it is payable from a special fund or funds, naming the fund or funds and the resolution creating it or them.
(5) Any pledge of revenues or other moneys or obligations or assets made by an authority shall be valid and binding from the time that the pledge is made against any parties having subsequent claims of any kind in tort, contract, or otherwise against an authority, irrespective of whether such parties have actual notice thereof. The pledge shall be noted in the authority’s minute book which shall be constructive notice thereof to all parties and neither the resolution nor other instrument by which a pledge is created need be otherwise recorded, nor shall the filing of any financing statement under the Uniform Commercial Code be required to perfect such pledge. Revenues or other moneys or obligations or assets so pledged and later received by an authority shall immediately be subject to the lien of the pledge without any physical delivery or further act.
(6) The revenue obligations issued under the provisions of subsections (1) to (5) of this section shall bear such date or dates, mature at such time or times, be in such denominations, be in such form, either coupon or registered or both, carry such registration privileges, be made transferable, exchangeable and interchangeable, be payable in such medium, at such place or places, contain such covenants, and be subject to such terms of redemption as the board of directors shall declare in the bond resolution.
(7) Notwithstanding any other provision of law, the revenue obligations issued by an authority may be sold by the board of directors upon such terms and conditions and at such rate or rates of interest and for such price or prices as it may deem most advantageous to the authority, with or without public bidding. The authority may make contracts for future sale from time to time of revenue obligations by which the contract purchasers shall be committed to the prices, terms and conditions stated in such contract, and the board of directors may pay such consideration as it deems proper for such commitments.
(8) The board of directors may provide by resolution for the issuance of funding and refunding revenue obligations in order to refund, convert, purchase or restructure any one or more series, or portion of a series, of outstanding revenue obligations at such time or times as it may determine. Such refunding revenue obligations may be sold or exchanged at par or otherwise as the board of directors determines is in the best interest of the authority.
(9) All revenue obligations issued pursuant to this section shall be legal securities that may be used by any insured institution or trust company, as those terms are defined in ORS 706.008, for deposit with the State Treasurer or a county treasurer or city treasurer, as security for deposits in lieu of a surety bond under any law relating to deposits of public moneys and shall constitute legal investments for public bodies, trustees and other fiduciaries, banks, savings and loan associations, and insurance companies. All such revenue obligations and all coupons appertaining thereto shall be negotiable instruments within the meaning of and for all purposes of the law of this state. [1973 c.153 §7; 1983 c.413 §2; 1997 c.631 §471; 2011 c.256 §4]
Structure 2021 Oregon Revised Statutes
Chapter 441 - Health Care Facilities
Section 441.020 - Application; fees; rules.
Section 441.021 - Additional fees for investigation and compliance activities.
Section 441.025 - License issuance; rules; renewal; disclosure; transfer; posting.
Section 441.026 - Licensing of extended stay centers; rules.
Section 441.037 - Hearings; procedures; judicial review.
Section 441.038 - Additional remedies.
Section 441.044 - Complaints about standard of care in facility; retaliation prohibited; rules.
Section 441.049 - Support persons for patients with disabilities.
Section 441.051 - Discharge of patient to care of lay caregiver.
Section 441.053 - Release of patient presenting with behavioral health crisis.
Section 441.054 - Discharge of patients receiving mental health treatment.
Section 441.055 - Health care facility medical staff and bylaws; rules.
Section 441.056 - Credentialing telemedicine providers; rules.
Section 441.060 - Inspections; approval of plans and specifications; rules; fees.
Section 441.062 - Coordination of inspections; rules.
Section 441.065 - Exemption of certain religious institutions.
Section 441.067 - Inspection reports, complaint procedures and rules; posting.
Section 441.073 - Rules regarding staff ratio in long term care facilities; variances; posting.
Section 441.079 - Eye, organ and tissue transplants.
Section 441.084 - Choice of patient on suppliers of drugs and supplies.
Section 441.086 - Ambulatory surgical centers; rules.
Section 441.087 - General inspection of long term care facility.
Section 441.094 - Denial of emergency medical services because of inability to pay prohibited.
Section 441.096 - Identification badges.
Section 441.099 - Health Licensing Office to ensure compliance with ORS 441.098.
Section 441.101 - Safeguards for protected health information; rules.
Section 441.151 - "Hospital" defined for ORS 441.152 to 441.177.
Section 441.152 - Nurse Staffing Advisory Board.
Section 441.154 - Hospital nurse staffing committee.
Section 441.155 - Written staffing plan for nursing services.
Section 441.156 - Annual review of nurse staffing plan.
Section 441.164 - Variances to staffing plan requirements.
Section 441.165 - Modification of nurse staffing plan in case of emergency or epidemic.
Section 441.166 - Need for replacement staff.
Section 441.168 - Leaving a patient care assignment.
Section 441.169 - Public notice.
Section 441.171 - Complaint investigations.
Section 441.173 - Hospital to maintain records; rules.
Section 441.175 - Civil penalties; suspension or revocation of license; rules; records.
Section 441.177 - Posting of audit reports and civil penalties.
Section 441.179 - Definitions for ORS 441.179 to 441.186.
Section 441.181 - Retaliation prohibited.
Section 441.183 - Remedies for retaliation.
Section 441.184 - Unlawful employment practices; civil action for retaliation.
Section 441.185 - Hospital posting of notice.
Section 441.186 - Rights, privileges or remedies of nursing staff.
Section 441.192 - Notice of employment outside of hospital.
Section 441.221 - Advisory Committee on Physician Credentialing Information; membership; terms.
Section 441.222 - Committee recommendations.
Section 441.223 - Implementation of committee recommendations; rules.
Section 441.277 - Definitions for ORS 441.277 to 441.323.
Section 441.281 - Petition for appointment of trustee; hearing; order.
Section 441.286 - Grounds for appointment of trustee.
Section 441.289 - Powers and duties of trustee.
Section 441.293 - Liability to trustee for goods and services after notice; effect of nonpayment.
Section 441.296 - Liability for rent or contracts.
Section 441.309 - Trustee as public employee.
Section 441.316 - Termination of trust; extension; license revocation.
Section 441.318 - Trustee accounting; deficiencies; lien.
Section 441.331 - Definition of "facility" for ORS 441.331 to 441.341.
Section 441.333 - Appointment of temporary manager.
Section 441.336 - Accounting by temporary manager; deficiencies; lien.
Section 441.338 - Temporary manager as agent of state agency.
Section 441.357 - Definitions for ORS 441.357 to 441.367.
Section 441.402 - Definitions for ORS 441.402 to 441.419.
Section 441.406 - Duties of ombudsman; rules.
Section 441.407 - Procedures to maintain confidentiality.
Section 441.408 - Right of entry into facilities and access to records.
Section 441.409 - Report after investigation; referral to other agencies.
Section 441.411 - Notice of complaint procedures; posting.
Section 441.412 - Immunity of employees.
Section 441.413 - Appointment of designees; qualifications; duties.
Section 441.418 - Appeal to Residential Ombudsman and Public Guardianship Advisory Board.
Section 441.525 - Definitions for ORS 441.525 to 441.595.
Section 441.535 - Procedure to create public authority.
Section 441.540 - Board of directors; rules; conflict of interest; quorum; personnel.
Section 441.550 - General powers.
Section 441.555 - Issuance of revenue obligations; nature of obligation; refunding.
Section 441.595 - Construction of ORS 441.525 to 441.595.
Section 441.600 - Definitions for ORS 441.600 to 441.625.
Section 441.605 - Legislative declaration of rights intended for residents.
Section 441.610 - Nursing home patients’ bill of rights; rules.
Section 441.612 - Additional rights; rules.
Section 441.615 - Powers and responsibilities of department; rules.
Section 441.630 - Definitions for ORS 441.630 to 441.680.
Section 441.637 - Rules; submission of rules to advisory group.
Section 441.640 - Report of suspected abuse of resident required.
Section 441.645 - Oral report to area agency on aging, department or law enforcement agency.
Section 441.655 - Immunity for reporter of abuse.
Section 441.659 - Disclosure of protected health information to law enforcement.
Section 441.660 - Photographing resident; photograph as record.
Section 441.665 - Record of reports; classification of investigation report.
Section 441.671 - Confidentiality of reports; when available.
Section 441.674 - Specified evidentiary privileges inapplicable.
Section 441.676 - Investigation of licensing violations; powers of investigator.
Section 441.679 - Preemployment inquiries; when employment prohibited.
Section 441.685 - Monitors; designation; duties; peer review of facilities.
Section 441.695 - Conduct of investigation.
Section 441.700 - Access to facilities by persons providing services.
Section 441.703 - Complaint file; summary; availability on request.
Section 441.705 - Definitions for ORS 441.705 to 441.745.
Section 441.710 - Civil penalties; when imposed.
Section 441.712 - Notice of civil penalty.
Section 441.715 - Criteria for civil penalties; rules.
Section 441.720 - Remittance or reduction of penalties.
Section 441.726 - Progressive enforcement process.
Section 441.731 - Civil penalties.
Section 441.736 - License conditions.
Section 441.740 - Judicial review.
Section 441.745 - Penalties to Quality Care Fund.
Section 441.755 - Report form; contents.
Section 441.816 - Influenza vaccines for patients 65 years of age or older; rules.
Section 441.990 - Civil and criminal penalties.
Section 441.991 - Civil penalty for violation of ORS 441.098.
Section 441.992 - Civil penalty for violation of ORS 441.048 or 441.049.