The State Treasurer, at the request of the Department of Transportation, may issue grant anticipation revenue bonds for the purposes of:

1. (1) Financing highway improvement projects including highway improvement projects already under way or scheduled;
2. (2) Financing the restoration, reconstruction or renovation of highway improvements in Oregon;
3. (3) Financing transportation projects;
4. (4) Paying the costs of issuance of the revenue bonds including, but not limited to, the costs and fees of paying agents, trustees and remarketing agents;
5. (5) Paying the costs of credit enhancements; or
6. (6) Financing the Interstate 5 bridge replacement project.

[2003 c.201 §3; 2013 c.4 §17]