The Director may initiate any of the following actions in order to protect the State’s interest in property owned by the Fund:

1. (1) Enter into service contracts to establish value of security for the management of farm operations, servicing, repairing and securing personal property.
2. (2) Enter into federal subsidy contract programs.
3. (3) Advertise state-owned property for sale in the appropriate media.
4. (4) Accept or reject offers to purchase property held by the Fund and extend counteroffers.
5. (5) Provide warranty deeds, bargain and sale deeds, or satisfactions of mortgage, as appropriate.
6. (6) Establish interest rates that will be required on contracts of sale of state-owned property.
7. (7) Negotiate Commodity Certificates issued by federal subsidy programs.
8. (8) Reserve mineral rights as defined in ORS 273.775(1) and geothermal rights as defined in 273.775(2).
9. (9) Make claims of risk management as appropriate for losses to state-owned property under Department of General Services guidelines.
10. (10) Enter into lease, lease purchase, or rent agreements.
11. (11) Sell or release property as necessary to provide for the solvency of the Fund.
12. (12) Apply for, transfer, abandon, or sell water rights on state-owned property as allowed by governing statutes and rules.
13. (13) Extend a grace period as appropriate for late payments.

Statutory/Other Authority

ORS 183 & 541

History

WRD 15-1988, f. & cert. ef. 9-20-88