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Treasury says statute gives high-level safeguards as lawmakers seek detail on stadium financing
Summary
During an informational meeting about Senate Bill 110A, legislators pressed the Oregon State Treasury on financial oversight and asked whether more specific due-diligence language should be placed in statute rather than left to agency practice.
Lawmakers used an informational meeting May 29 to press the Oregon State Treasury for assurances about financial oversight related to Senate Bill 110A, a bill that would enable future transactions tied to a proposed stadium authority.
Representative Marsh said the statute gives the treasurer authority to execute agreements but lacks an explicit instruction requiring a full technical due-diligence review of financing terms. "What I don't see in the bill ... is an instruction around due diligence," Marsh said, asking whether the bill should require analysis of…
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