Public borrowing is a crucial tool used to enhance Oregon's quality of life by constructing and modernizing roads, schools and other vital public facilities. Borrowing at low tax-exempt rates allows financing of essential projects at a lower cost and provides a mechanism where the people who benefit from the projects are the ones paying for them.

The Office of the State Treasurer manages debt carefully to ensure Oregonians get the most for their dollars now and in the future. Too much borrowing may impair the state’s credit rating, resulting in higher costs. Prudent debt limits are recommended to the Legislature by the State Debt Policy Advisory Commission, which is chaired by the State Treasurer.

Debt Management Division

The Debt Management Division is the Treasury’s clearinghouse for bond data, bond calendars, and information about credit ratings. Through the State Treasurer, the division coordinates the issuance of all bonds and appropriation credits for the State of Oregon.

The division reviews the structure of each bond sale, coordinates the timing of the various agency bond sales, secures credit ratings, negotiates and accepts bids for bond placement, reviews transcripts and other documents, provides for the delivery of bonds, and assists with settlement of bond issues. This requires monitoring of local and national bond markets, as well as finance and economic trends that impact bond issuance structures and interest rates.

The division also reviews the financial and economic disclosure information provided for the sale of State of Oregon general obligation (GO) bonds, revenue bonds and appropriation credits.

Municipal Debt Advisory Commission

The Municipal Debt Advisory Commission maintains a debt profile of all local government units in Oregon that issue bonds, and has a mission to improve the market for Oregon bonds, to assist local governments in selling bonds and to serve as an information source.

Local Government Assistance

The Debt Management Division provides technical support to local governments about dates of bond sales, offers training on selected debt-related topics, and provides a bond education web site. The Division strives to improve existing services and to promote new strategies that can streamline bond processing and save clients money.

The Oregon Bond Calendar is created and maintained by the Treasury for the Municipal Debt Advisory Commission. The calendar lists publicly offered State and local bond sales, enabling State agencies and local governments to minimize scheduling conflicts that may affect the marketability and interest rate costs of their issues.

The division produces the Oregon Bond Index, which charts trends in Oregon municipal bond interest rates; and the Oregon Bond Education Center, to assist Oregon local governments with the process of issuing and managing debt.

Helping Community Nonprofits

The division manages and staffs the Oregon Facilities Authority and Private Activity Bond Committee, which offer access to tax-exempt financing for select "private activity" entities and nonprofit organizations.

The Finance Division assists Oregon bondholders by providing information on State Bond Redemption. The Division also is the liaison between debt-issuing state agencies, bondholders, and the state's fiscal and co-pay agents. It coordinates payments of bond principal and interest to the state's bondholders.

Links

• Administrative Rules Related to Debt
• Advance Refunding
• Municipal Debt Advisory Commission (MDAC)
• Oregon Facilities Authority (OFA)
• Oregon School Bond Guaranty Program
• Private Activity Bond Committee (PAB)
• State Debt Policy Advisory Commission (SDPAC)
• Other Useful Links