Oregon Law
Law as of Jan 1, 2026
Chapter contents
287A.001Definitions for ORS chapter 287A 287A.010Powers conveyed to public bodies 287A.050Authority of city to issue general obligation bonds 287A.100Authority of county to issue general obligation bonds 287A.105Limitation on bonded indebtedness of county 287A.140Ad valorem tax levy to pay general obligation bonds 287A.145Misspent proceeds of general obligation bonds 287A.150Authority of public body to issue revenue bonds 287A.180Short-term borrowing by public body 287A.195Compliance with constitutional or statutory debt limits 287A.300Terms and conditions of bond sales; delegation of authority 287A.310Definitions for ORS 287A.310 and 287A.315; lien of a pledge; Uniform Commercial Code 287A.315Pledge of full faith and credit and taxing power 287A.325Covenants of public bodies regarding pledges 287A.335Agreements for exchange of interest rates; rules 287A.339Termination payment of conduit borrower 287A.340Credit enhancement devices 287A.343Public body purchase of own bonds 287A.345State taxation of bond interest 287A.350Public records 287A.360Current refunding bonds 287A.365Advance refunding bonds and forward current refunding 287A.370Proposed refunding plan for advance refunding bonds or forward current refunding; rules; fees 287A.375Maximum amount of advance refunding bonds 287A.380Tax levy to pay maturing general obligation advance refunding bonds 287A.472Interest on municipal warrants not paid on presentation 287A.474Warrants and checks more than two years old; report by fiscal officer; claim by owner 287A.482Definitions for ORS 287A.482 to 287A.488 287A.484Master warrant procedure authorized if warrants would be not paid 287A.486Procedure 287A.488Taxes must be levied for payment of claims included in master warrant 287A.630Oregon Municipal Debt Advisory Commission; creation; term; compensation 287A.632Meetings; quorum; personnel 287A.634Powers and duties of commission; rules; fees 287A.640Notice to commission of proposed issues; duty of public bodies to assist; rules

Chapter 287A — LOCAL GOVERNMENT BORROWING

ORS 287A.340 Credit enhancement devices

(1)

A public body may obtain a credit enhancement device and enter into related agreements.

(2)

The public body may pay the provider of the credit enhancement device from the same sources that the public body may lawfully use to pay the related bonds or from any other legally available source.

(3)

The public body may issue a bond to the provider of a credit enhancement device to secure the obligations of the public body or to pay amounts due to the provider.

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