Oregon Administrative Rules
Chapter 813 - OREGON HOUSING AND COMMUNITY SERVICES DEPARTMENT
Division 35 - PASS-THROUGH REVENUE BOND FINANCING PROGRAM
Section 813-035-0011 - Definitions

(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.)