(2) In addition to any other powers granted by law, including without limitation the powers granted under ORS 456.548 to 456.725, the Housing and Community Services Department may do any of the following:
(a) Enter into agreements to finance the costs of an eligible housing project by lending the proceeds of bonds authorized under ORS 456.645 (1) to any qualified housing sponsor under such terms and with such security as the department may approve. However, notwithstanding ORS 456.645 (2), the proceeds of bonds described in this paragraph need not be placed in the Housing Finance Fund and bonds described in this paragraph need not be payable as to principal, redemption premium, if any, and interest from the revenues, assets or funds in the Housing Finance Fund. In addition, bonds described in this paragraph to finance eligible housing projects are not subject to ORS 456.655 and 456.661.
(b) Lease and sublease eligible housing projects to a qualified housing sponsor so that rents to be charged for the use of such projects are established, and revised from time to time as necessary, to produce income and revenue sufficient to provide for the prompt payment when due of principal and interest on all bonds described in paragraph (a) of this subsection. A lease shall provide that the lessee be required to pay all expenses of the operation and maintenance of the project including, but without limitation, adequate insurance on the project and insurance against all liability for injury to persons or property arising from the operation of the project. The lease shall also provide that the lessee pay all taxes and special assessments levied upon or with respect to the leased premises and payable during the term of the lease and that during the term of the lease the lessee shall pay ad valorem taxes in the same amount and to the same extent as though the lessee were the owner of all real and personal property comprising the project.
(c) Pledge and assign to the holders of bonds described in paragraph (a) of this subsection or a trustee therefor all or any part of the revenues of one or more eligible housing projects owned or to be acquired by the state, and define and segregate such revenues or provide for the payment thereof to a trustee.
(d) Mortgage or otherwise encumber eligible housing projects in favor of the holders of bonds described in paragraph (a) of this subsection or a trustee therefor.
(e) Make all contracts, execute and deliver all instruments and do all things necessary or convenient in the exercise of the powers granted by this section, or in the performance of its covenants or duties, or in order to secure the payment of bonds described in paragraph (a) of this subsection. The authority granted under this paragraph includes a contract entered into prior to the construction, acquisition and installation of the eligible housing project authorizing the lessee, subject to such terms and conditions as the state finds necessary or desirable and proper, to provide for the construction, acquisition and installation of the buildings, improvements and equipment to be included in the project by any means available to the lessee and in the manner determined by the lessee.
(f) Enter into and perform such contracts and agreements with qualified housing sponsors as the respective boards of directors may consider proper and feasible for or concerning the planning, construction, installation, lease or other acquisition, and the financing of the facilities of an eligible housing project. The contracts and agreements may establish a body as may be considered proper for the supervision and general management of the facilities.
(g) Accept from an authorized agency of the federal government loans or grants for the planning, construction, acquisition, leasing or other provision of an eligible housing project and enter into agreements with that agency respecting the loans or grants.
(h) Execute and deliver letters of credit, municipal bond insurance or other credit enhancement agreements supporting and securing bonds described in paragraph (a) of this subsection. [2001 c.689 §2]
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.