Chapter 718 Oregon Laws 2001

AN ACT

SB 365

Relating to Department of Public Safety Standards and Training; creating new provisions; and amending ORS 283.085.

Be It Enacted by the People of the State of Oregon:

SECTION 1. Section 2 of this 2001 Act is added to and made a part of ORS 181.610 to 181.712.

SECTION 2. In carrying out its duties, the Department of Public Safety Standards and Training may take title to real property needed for a training academy.

SECTION 3. ORS 283.085 is amended to read:

283.085. As used in ORS 283.085 to 283.092, 286.515 and 286.525:

(1) “Available funds” means funds appropriated or otherwise made available by the Legislative Assembly to pay amounts due under a financing agreement for the fiscal period in which the payments are due, together with any unexpended proceeds of the financing agreement, and any reserves or other amounts which have been deposited in trust to pay amounts due under the financing agreement.

(2) “Credit enhancement agreement” means any agreement or contractual relationship between the state and any bank, trust company, insurance company, surety bonding company, pension fund or other financial institution providing additional credit on or security for a financing agreement or certificates of participation authorized by ORS 283.085 to 283.092, 286.515 and 286.525.

(3) “Director” means the Director of the Oregon Department of Administrative Services.

(4)(a) “Financing agreement” means a lease purchase agreement, an installment sale agreement, a loan agreement or any other agreement:

(A) To finance real or personal property that is or will be owned and operated by the state or any of its agencies;

(B) To finance infrastructure related to a facility that is owned and operated by the state;

(C) To finance infrastructure components that are owned or operated by a local government agency of this state if the director determines that financing the infrastructure will facilitate the construction or operation of an adult or juvenile corrections facility or a public safety training facility owned and operated by the state or any of its agencies; or

(D) To refinance previously executed financing agreements.

(b) As used in this subsection, “infrastructure” includes, but is not limited to, sewer and water systems and road improvements.

(5) “Personal property” means tangible personal property, software and fixtures.

(6) “Property rights” means, with respect to personal property, the rights of a secured party under ORS chapter 79, and, with respect to real property, the rights of a trustee or lender under a lease authorized by ORS 283.089 (5).

(7) “Software” means software and training and maintenance contracts related to the operation of computing equipment.

(8) “Treasurer” means the State Treasurer.

Approved by the Governor July 2, 2001

Filed in the office of Secretary of State July 2, 2001

Effective date January 1, 2002

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