Or. Admin. Code § 813-035-0011 - Definitions
(1) All terms are
used in OAR chapter 813, division 035, as defined in the Act, and as provided
in OAR 813-005-0005 and
herein.
(2) As used in these rules,
unless the context indicates otherwise:
(a)
"Bond Documents" means the Trust Indenture, the Loan Agreement, the Regulatory
Agreement, Operating Agreement and related documents executed by one or more of
the parties to the financing and development of the Project, including without
limitation the Department, the Borrower, and the Trustee.
(b) "Borrower" or "Sponsor" means that legal
entity to which bond proceeds are loaned. While the term "Borrower" generally
is used in this Division, it and "Sponsor" are used interchangeably in
Department rules, statutes, and documents
(c) "Operating Agreement" means the Operating
Agreement and Declaration of Restrictive Covenants and Equitable Servitude
executed by one or more of the parties to the financing and development of the
Project, including without limitation the Department and the
Borrower.
(d) "Project" means the
project site and all buildings, structures, fixtures, equipment and other
improvements now or later constructed or located upon the project
site.
(e) "Pass-Through Revenue
Bond Financing Program" or "Program" means the Program established pursuant to
this division 035.
(f) "Private
Placement" with respect to municipal securities, a negotiated sale in which the
new issue securities are sold directly to institutional or private investors
rather than through a Public Offering. The offer and sale of the securities by
the issuer is directly to one or more investors, rather than through an
underwriter.
(g) "Public Offering"
as used in this Division means any offering of bonds by the Department to
finance Project(s) other than a private placement with a single financial
institution.
(h) "Transferee" means
the person, or entity, to whom the Borrower sells, transfers to or disposes of
the Project or any portion therof (other than by leasing or renting for
individual tenant use.)
Notes
Stat. Auth.: ORS 90.800 - 90.840, 91.886, 183, 456.515 - 456.723 & 458.210 - 458.650
Stats. Implemented: ORS 456.620, 456.645 & 456.675
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