ORS 367.163: Purposes for which bonds may be issued.

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

      (1) Financing highway improvement projects including highway improvement projects already under way or scheduled;

      (2) Financing the restoration, reconstruction or renovation of highway improvements in Oregon;

      (3) Financing transportation projects;

      (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) Paying the costs of credit enhancements; or

      (6) Financing the Interstate 5 bridge replacement project.