OREGON FACILITIES AUTHORITY (OFA)
About the Oregon Facilities Authority
The Oregon Facilities Authority 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 more than $3.7 billion in bonds.
Interest on these bonds is exempt from federal income tax and state personal income tax. As a result, qualified organizations can achieve lower borrowing costs by partnering with OFA to finance their capital projects.
A borrower interested in issuing through OFA — whether in the traditional or SNAP program — should contact the Executive Director to discuss the project. A borrower makes an application to OFA (applications forms are on the website), and appears at the next monthly OFA meeting for preliminary approval. If the application receives preliminary approval, the borrower works with OFA and others to prepare the transaction for closing. When the bond documents are substantially complete, the borrower again appears at the OFA meeting for final approval. Final approval means that OFA recommends the transaction to the Office of the State Treasurer, which works with the borrower to close the transaction.
Post Issuance Compliance
2017 Meeting and Application Dates
Sept. 11 OFA Agenda Book - September 11, 2017.PDF
The Oregon Facilities Authority ("OFA" or "Authority") is affiliated with the national organization: The National Association of Health and Educational Finance Authorities.
For more information on this organization, as well as access to its most current quarterly newsletter, NAHEFFA: www.naheffa.com
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