The Capital Investment Section (CIS) has direct responsibility for managing four separate and independent financing programs and coordinating statewide budgeting for bonds and capital construction.
DAS is responsible for approval of state Certificates of Participation (COPs) and other financing agreements. COPs are the primary source for financing state facilities and capital equipment (excluding article XI-G and XI-F bonds for Higher Education). CIS coordinates issuance of State Lottery Bonds and Tax Anticipation Notes (TANs). CIS also administers the Pension Obligation Bond Program.
Current Topics
On October 14, the State closed the 2009 Series C and D COP sale. Series C financed several projects including a portion of the new State Hospital in Salem, armory renovations for the Oregon Military Department, and a continuation of the e-Court project to modernize court document handling processes. Series D refunded certain outstanding bonds to achieve a net present value savings to the state of $13.3 million.
