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DAS is the administrative arm of the Governor’s Office. DAS prepares and coordinates State agency budget requests included in the budget submitted by the Governor to the Legislative Assembly. By law, DAS is responsible for budgetary management, supervision and control over all State government programs for the executive branch of the State. In addition, DAS has the authority to request the State Treasurer to issue general obligation bonds, certificates of participation and other forms of indebtedness, as authorized by the Legislative Assembly, on behalf of State agencies.
DAS also provides administrative and support services to State agencies. DAS works to ensure that State resources are used according to law, gubernatorial policy and legislative policy in the most effective and economical manner and performs several other statewide administrative functions. DAS has general authority to operate and manage programs relating to central purchasing, motor fleet, printing, facilities construction and leasing, building maintenance, central stores, mail, insurance, telephone services and telecommunications and information technology and security. DAS, with the approval of the Governor, has general authority to adopt rules and regulations it considers necessary and proper to carry out the laws it is charged with administering.
Centralizing these statewide functions in DAS provides coordination in obtaining proper budget and debt issuance authority, as well as proper accounting for financed projects. In addition, it provides State agencies the advantage of working with a single agency, DAS, as they plan for real property or personal property acquisitions needed to accomplish their agency missions.
The State of Oregon may issue general obligation (GO) debt only under constitutional amendment passed by voters and in authorized amounts as approved by the Legislative Assembly. General obligation debt is secured by the full faith and credit of the State. Certain of the State’s general obligation debt are additionally secured by a levy of statewide property tax, if necessary and if permitted by law.
Article XI, Section 7 of Oregon’s Constitution provides the State with the authority to issue GO debt. Currently, Oregon has 18 constitutionally authorized GO bond programs. While each program has the potential to draw on the State’s General Fund or other taxing authority, many of the programs are fully or partially self-supporting, payable from program revenues, gifts, grants, or other revenue streams.
The State issues general obligation (GO) bonds to provide funds for a variety of projects as authorized by the Oregon Constitution and Legislative authority and budget for such issuance. Projects funded by GO debt, subject to statutory and constitutional limitations, include but are not limited to
To see our General Obligation Official Statements please click here.
ORS 283.085 through 283.092 authorize the State to enter into financing agreements through the issuance of certificates of participation. The State has issued certificates of participation to provide funds for the acquisition of computer and telecommunication systems, to decouple the Elliott State Forest from the Common School Fund so as to compensate the Fund for preservation of noneconomic benefits, and the acquisition, construction, or remodeling of State facilities. Certificates of participation have been issued for governmental activities.
To see our Certificates of Participation Official Statements please click here.
Oregon Revised Statutes (ORS) authorizes the State to issue revenue bonds. Revenue bonds are secured by a pledge of revenues derived from the operation of the programs funded by the issuance of these obligations. The resulting bond obligations are not general obligations of the State.
ORS 286A.560 through 286A.585, 327.700 through 327.711, and 348.716 authorize the State to issue revenue bonds that are supported by unobligated net lottery proceeds. To date, lottery revenue bonds have been issued for infrastructure improvements, state parks, expansion and refurbishment of school facilities, light rail transportation, improvements to state fair facilities, acquisition of state forestland, watershed project grants, higher education and community college building improvements, preservation of affordable housing, and economic development in rural and distressed communities. Lottery revenue bonds have been issued for governmental activities.
To see our Lottery Revenue Official Statements please click here.
To see our Lottery Agency Annual Financial Reports please click here.
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ORS 367.605 through 367.665 authorize the Oregon Department of Transportation to issue highway user tax bonds for governmental activities to build and maintain public roads. Debt service payments for these bonds are funded by highway user taxes and vehicle registration fees.
To see our Oregon DOT Official Statements please click here.
To see our Oregon DOT Agency Annual Financial Reports please click here.
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Business Oregon is the state's economic development agency. The Business Oregon Commission oversees the agency's activities to ensure a coherent, integrated approach to economic development and a continuous policy direction that can transcend changes in executive and legislative leadership.
To see our Oregon Business Development Department Official Statements please click here.
To see our Oregon Business Development Department Financial Reports please click here.
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The office of the Director of Veterans’ Affairs (now part of the Department of Veterans’ Affairs) was created in 1945 to assist veterans in obtaining benefits under federal, state and local programs and to undertake the Program to provide loans to veterans at favorable interest rates for the purchase or improvement of farms and homes. The Director must be a veteran chosen on the basis of executive and administrative ability. The Director is appointed by the Governor with written approval of the Advisory Committee, and the appointment is subject to confirmation by the Senate. The Director serves at the pleasure of the Governor. The Department administers programs to aid veterans, including the Loan Program, the Veterans’ Home program, conservatorship services and aging/statewide Veteran services.
The Department administers the Program pursuant to Article XI‑A, which includes veteran eligibility criteria for participation in the Program, and applicable provisions of State law. Since its inception in 1945, the Program has made more than 336,600 Program Loans for acquisition of and improvements to residences and farms in all 36 counties of the State with an original principal amount of approximately $8.2 billion.
To see our Oregon Department of Veterans' Affairs Annual Financial Reports please click here.
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ORS 456.645 authorizes the Oregon Housing and Community Services Department to issue revenue bonds for financing single-family mortgage loans and multi-family housing projects. Mortgage payments and fees and rental revenues support these bonds. ORS 285B.467 through 285B.482 authorize the Oregon Business Development Department to issue revenue bonds for financing infrastructure improvement projects through the Special Public Works Fund, while ORS 285B.572 through 285B.599 authorize the issuance of revenue bonds for financing water projects through the Water/Wastewater Financing Fund. Loan repayments support the bonds associated with these business-type activities.
To see our Oregon Housing and Community Services Department Official Statements please click here.
To see our Oregon Housing and Community Services Department Annual Financial Reports please click here.
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The Oregon Facilities Authority ("OFA") is the Oregon state agency that helps nonprofit organizations access low-cost financing for capital projects through the issuance of tax exempt conduit revenue bonds. OFA was created by the Oregon Legislature in 1989. Since inception, it has issued over $4.4 billion in bonds. The interest on these bonds is exempt from federal income tax and state personal income tax. Because the interest on these bonds is exempt from federal income tax and state personal income tax, qualified organizations can achieve lower borrowing costs by partnering with OFA to finance their capital projects.
To see our Oregon Facilities Authority Official Statements please click here.