(a) Pledge all or any part of the fees and charges made or received by the Housing and Community Services Department under ORS 456.548 to 456.725 and all or any part of the moneys received in payment of residential loans and interest thereon and other moneys received or to be received by the department under ORS 456.548 to 456.725 to secure payment of the bonds, subject to the provisions of any agreements with bondholders then existing.
(b) Pledge all or any part of the assets of the department acquired under ORS 456.548 to 456.725, including residential loans and obligations securing such residential loans to secure the payment of the bonds, subject to the provisions of any agreements with bondholders then existing.
(c) Pledge any moneys, loans or grants received from the federal government, the state or any city, county or political subdivision of this state for any housing project financed in whole or in part from the sale proceeds of bonds.
(d) Provide for the use and disposition of the gross income from residential loans held by the department and for the payment of the principal on residential loans held by the department.
(e) Limit the purposes for which the proceeds from the sale of bonds may be applied by the department and pledge such proceeds to secure payment of the bonds of the department.
(f) Limit the issuance of additional bonds, the terms upon which such additional bonds may be issued and the refunding of outstanding bonds.
(g) Provide for the procedure, if any, by which the terms of any contract with bondholders may be amended or rescinded, the percentage of the bondholders that must consent thereto and the manner of giving their consent thereto.
(h) Vest in a trustee appointed by the director such property, rights, powers and duties in trust as the department may determine, including the rights, powers and duties of a trustee appointed for bondholders pursuant to ORS 456.548 to 456.725 or limiting the rights, powers and duties of any trustee so appointed.
(i) Provide for other matters affecting security for the bonds.
(2) Any pledge made by or pursuant to subsection (1) of this section shall be valid and binding from the time when the pledge is made. The revenues, assets and funds pledged pursuant to subsection (1) of this section shall immediately be subject to the lien or pledge without physical delivery thereof or further act, and the lien of any pledge shall be valid and binding against all parties having claims of any kind in tort, contract or otherwise, irrespective of whether the parties have notice thereof. No housing finance bond declaration or any other instrument by which the pledge is created need be recorded or filed except as provided in ORS 456.548 to 456.725 and the department shall not be required to comply with any of the provisions of the Oregon Uniform Commercial Code. [1973 c.828 §17; 1975 c.154 §5; 1977 c.32 §1; 1979 c.60 §6; 1981 c.504 §9; 1983 c.519 §8; 1995 c.79 §261]
Structure 2021 Oregon Revised Statutes
Volume : 13 - Housing, Games, Environment
Section 456.005 - Definitions for ORS chapters 456 and 458.
Section 456.055 - Definitions for ORS 456.055 to 456.235.
Section 456.060 - Definition of "area of operation"; intergovernmental agreements.
Section 456.065 - Definition of "housing project."
Section 456.070 - Declaration of necessity for establishment of housing authorities.
Section 456.080 - Determination of need for housing authority.
Section 456.090 - Sufficiency of resolution; copy as evidence.
Section 456.095 - Appointment and qualification of commissioners of housing authorities.
Section 456.100 - Terms and compensation of commissioners.
Section 456.105 - Organization; officers; quorum; employees; legal services.
Section 456.120 - Powers of housing authority as public corporation.
Section 456.125 - Research, planning, construction and operation of housing projects.
Section 456.128 - Housing authority intellectual property.
Section 456.130 - Investigations, hearings and recommendations of authority.
Section 456.145 - Eminent domain.
Section 456.150 - Housing projects subject to local laws; consideration of other programs.
Section 456.153 - Involvement in mixed income housing project.
Section 456.155 - Policy regarding profit from projects; reserves.
Section 456.160 - Limitations as to rentals.
Section 456.180 - Liability on bonds; debt limitation.
Section 456.200 - Powers of authority in securing payment of bonds or lease obligations.
Section 456.202 - Short-term bond anticipation notes.
Section 456.205 - Enforcing rights of obligee of an authority.
Section 456.210 - Power of authority to confer additional rights upon obligee.
Section 456.215 - Financial aid and cooperation of federal government.
Section 456.235 - Dissolution of housing authorities.
Section 456.250 - Definitions for ORS 456.250 to 456.265.
Section 456.255 - Legislative findings.
Section 456.258 - Applicability; interpretation; rules.
Section 456.259 - Withdrawal notice to tenants.
Section 456.260 - First withdrawal notice to department and local government.
Section 456.263 - Right of first refusal; matching offer; third-party sale.
Section 456.264 - Remedy for failure to give notice.
Section 456.265 - Sanctions against withdrawing property owner prohibited.
Section 456.270 - Definitions for ORS 456.270 to 456.295.
Section 456.275 - Legislative findings.
Section 456.280 - Covenant creation, effect, conveyance, duration and termination.
Section 456.285 - Permissible provisions.
Section 456.290 - Validity of covenant.
Section 456.295 - Action affecting covenant.
Section 456.305 - Definitions for ORS 456.305 to 456.325.
Section 456.310 - Purpose; additional powers.
Section 456.315 - Powers of state public bodies in aiding or cooperating on housing projects.
Section 456.320 - Donations and loans to housing authority.
Section 456.355 - Definitions for ORS 456.355 to 456.370.
Section 456.360 - Purpose; additional powers.
Section 456.365 - Powers of city or county in aiding or cooperating on housing projects.
Section 456.375 - Definitions for ORS 456.375 to 456.390.
Section 456.378 - Housing Choice Landlord Guarantee Program; application; deadlines; rules.
Section 456.385 - Housing Choice Landlord Guarantee Program Fund.
Section 456.407 - Policy encouraging settlement of disputes.
Section 456.418 - Special assessment; lien; collection.
Section 456.426 - Functions of manufactured dwelling site information clearinghouse.
Section 456.429 - Scope of information collected.
Section 456.433 - Funding of clearinghouse.
Section 456.502 - Affordable Housing Land Acquisition Revolving Loan Program; rules.
Section 456.508 - Definitions for ORS 456.510 and 456.513.
Section 456.510 - Visitability requirements.
Section 456.513 - Exemption from visitability requirements.
Section 456.515 - Definitions for ORS 456.515 to 456.725 and ORS chapter 458.
Section 456.539 - Administration of Elderly and Disabled Housing Fund; rules.
Section 456.540 - Requirements for elderly housing project upon retirement of bond obligations.
Section 456.541 - Project applications for housing serving persons with disabilities.
Section 456.543 - Elderly and Disabled Housing Sinking Fund.
Section 456.548 - Definitions for ORS 456.548 to 456.725.
Section 456.559 - Powers and duties of department.
Section 456.561 - Loans, grants and funding awards; review.
Section 456.562 - Department intellectual property; fees.
Section 456.569 - Authority of Housing and Community Services Department to require fingerprints.
Section 456.571 - Powers and duties of council.
Section 456.572 - State housing plan; contents; annual update.
Section 456.576 - Self-Sufficiency Housing Fund.
Section 456.578 - Use of funds; petty cash fund.
Section 456.579 - Manufactured Dwelling Parks Account; restrictions; other moneys.
Section 456.581 - Uses of Manufactured Dwelling Parks Account; rules.
Section 456.582 - Prohibited acts; civil penalty.
Section 456.585 - Agriculture workforce housing information.
Section 456.594 - Definitions.
Section 456.595 - Petroleum supplier assessment; computation; effect of failure to pay; interest.
Section 456.597 - Oil-Heated Dwellings Energy Account.
Section 456.605 - Mortgage credit certificate program.
Section 456.607 - Definitions.
Section 456.608 - Rent Guarantee Program; rules.
Section 456.609 - Rent Guarantee Program Fund.
Section 456.612 - Declaration of financing purpose.
Section 456.620 - Duties of department in carrying out housing programs.
Section 456.623 - Project funding notification registry.
Section 456.630 - Services to qualified sponsors and institutions.
Section 456.635 - Commitments on residential loans.
Section 456.640 - Purchase of residential loans.
Section 456.645 - Revenue bonds.
Section 456.655 - When bonds not to be issued; debt service reserve; bond declaration.
Section 456.665 - Status of revenue bonds; negotiability; interest tax-exempt.
Section 456.675 - Bond provisions and limits; security for payment.
Section 456.685 - Bondholders’ remedies.
Section 456.690 - Loan authority of department; rules.
Section 456.692 - Loans financed through bonds secured by specific properties.
Section 456.705 - Servicing loans.
Section 456.710 - Payment of advances; use thereof; limitations.
Section 456.715 - Insurance of loans.
Section 456.717 - Interim construction financing for multifamily housing.
Section 456.720 - Housing Finance Fund; Housing Development Account.
Section 456.722 - Preferences in funding grants to low-income housing providers; rules.
Section 456.723 - Legislative finding on bonding authority of department.
Section 456.725 - Discrimination against purchaser with children prohibited; exceptions; rules.