§ 286A.863 — Rules; billing of public universities and community colleges; agreements with Oregon Health and Science University

Oregon § 286A.863

• Jurisdiction: Oregon
• Vol.: 7
• Title 27: Public Borrowing
• Ch. 286A: STATE BORROWING

Text

(1) The Oregon Department of Administrative Services may, in consultation with the Higher Education Coordinating Commission, adopt rules for the purpose of carrying out ORS 286A.830 to 286A.863, including, but not limited to, establishing:
(a) Fees and costs to be paid by public universities or community colleges for administration of higher education bonds, including reasonable fees and expenses of the State Treasurer as provided in ORS 286A.014;
(b) The form, content and timing of information to be submitted by public universities and community colleges to be used by the commission and the State Treasurer to evaluate revenue sufficiency for Article XI-F(1) bonds and availability and sufficiency of matching amounts for Article XI-G bonds; and
(c) Standards, terms and conditions for maintaining federal tax benefits related to higher education bonds.
(2) The department or the commission, or both, may periodically bill a public university or community college, without duplicating costs billed by contract, for the public university’s or community college’s proportional share of costs incurred by the department, or the commission, in connection with higher education bonds, including, but not limited to:
(a) Bond-related costs of higher education bonds issued or proposed to be issued to finance or refinance projects of the public university or community college; and
(b) Costs of legal or financial consultants or advisors, including, without limitation, bond counsel to the State of Oregon, for services that are provided at the request of a public university or community college in connection with higher education bonds that are issued or proposed to be issued.
(3) The department and the commission may each bill at such intervals as may be established in the department’s or commission’s own procedures and shall deposit the moneys received in the applicable bond fund, bond administration fund or other fund relating to higher education bonds, as the department or commission determines is appropriate. A public university or community college that receives a bill for bond-related costs shall pay the amount billed by the time and in the manner designated in the billing statement.
(4)(a) The department or the commission may enter into agreements with Oregon Health and Science University to:
(A) Receive payments from Oregon Health and Science University of amounts used to pay debt service on bonds issued by the State Treasurer to finance joint projects of Oregon Health and Science University and one or more public universities; or
(B) Administer tax compliance obligations of Oregon Health and Science University.
(b) Solely for the purposes of receiving payments of amounts used to pay debt service and administering tax compliance obligations related to the bonds, the department or the commission may be a successor to, or an assignee of, the Oregon University System under agreements between Oregon Health and Science University and the Oregon University System.
(c) The department or the commission may not assume any obligations or liability as the successor to, or assignee of, the Oregon University System under any agreements between Oregon Health and Science University and the Oregon University System, except for obligations or liability relating to the receipt of amounts used to pay debt service and the administration of tax compliance obligations.

Legislative History

2015 c.828 §13; 2017 c.9 §12; 2017 c.17 §22; 2018 c.98 §2