1. (1) The Oregon Department of Administrative Services may, with respect to bonds described in subsection (2) of this section, administer bond programs and the transfer or disbursement of bond proceeds through intergovernmental agreements or grant or loan agreements containing terms and conditions the department determines are necessary or advisable to:

   1. (a) Protect any tax benefit related to the bonds;
   2. (b) Protect the State of Oregon from liability due to the failure of grantees or borrowers to comply with legal requirements related to the bonds, including requirements under the Internal Revenue Code;
   3. (c) Ensure that bond proceeds are used for authorized or intended purposes;
   4. (d) Ensure that adequate funds will be available for repayment of the bonds; or
   5. (e) Ensure compliance with state and federal law.

2. (2) The department may exercise powers authorized under subsection (1) of this section with respect to:

   1. (a) Bonds issued under ORS 286A.560 to 286A.585 (lottery bonds);
   2. (b) Bonds issued under ORS 286A.710 to 286A.720 and Article XI-D of the Oregon Constitution (state power development);
   3. (c) Bonds issued under ORS 286A.760 to 286A.772 and Article XI-M of the Oregon Constitution (seismic rehabilitation of public education buildings);
   4. (d) Bonds issued under ORS 286A.780 to 286A.792 and Article XI-N of the Oregon Constitution (seismic rehabilitation of emergency services buildings);
   5. (e) Bonds issued under ORS 286A.796 to 286A.806 and Article XI-P of the Oregon Constitution (school district capital costs);
   6. (f) Bonds issued under ORS 286A.816 to 286A.826 and Article XI-Q of the Oregon Constitution (property owned or operated by state); and
   7. (g) Bonds issued under ORS 286A.830 to 286A.863 and Article XI-F(1) or Article XI-G of the Oregon Constitution (higher education).

[2017 c.9 §5]