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Municipal Debt Advisory Commission

Municipal Debt Advisory Commission

Helping local governments invest in critical projects using bonds

Used wisely, public debt helps to improve the quality of life for Oregonians today and in the future. Public bonding boosts the economy by creating construction jobs in the short term, while building and modernizing roads, schools, and vital public facilities to benefit generations to come.

The Debt Management Division approves issuance of all bonds for state agencies, and helps local governments to make good borrowing decisions that reduce costs and protect credit scores – which help determine interest rates.

Through the Municipal Debt Advisory Commission, Treasury acts as the clearinghouse for bond data, bond calendars, and the online Oregon Bond Education Center. The division provides technical support to local governments, offers training on selected debt-related topics, and created an online manual to help government officials plan and execute successful bond sales.

If you are from a community not-for-profit entity and want to learn more about tax-exempt bonds for real estate or projects, you can learn more from the Oregon Facilities Authority, which is overseen by a separate board.


MDAC Services

Debt Tracking and Reporting

Per state law ( ORS 287A.640 ), public bodies shall give prior notice of proposed issuance of new bonds to the Oregon Municipal Debt Advisory Commission (MDAC). Completing the MDAC Forms ensures compliance with state law ORS 287A.640.

Local government pension obligation bonds (POBs) issued after July 1, 2019 must comply with ORS 238.697. The Municipal Debt Advisory Commission amended OAR 170-061-0000 to meet the law's requirements, including using MDAC Form PB1 and MDAC Form PB2.

The MDAC debt database collects data on Oregon local government loans to enhance transparency, generate more accurate overlapping debt reports, and provide investors and citizens with pertinent information. Information may be submitted to our office using the form below.

If you are using Google Chrome or Mozilla Firefox as your browser and are having trouble accessing the MDAC Form - 2L, ensure you have the latest version of Adobe Reader installed, right click the link above, Save Link As to your local system, then open the file.

Overlapping Debt Reports

The Overlapping Debt Report  Request Form is a tool used in determining a district's overall debt burden. It includes its own debt and the responsible portion of debt of other overlapping governmental units.

Oregon Bond Calendar

The Oregon Bond Calendar is a schedule of all upcoming state and local bond sales. Its purpose is to enable state agencies and local governments to minimize scheduling conflicts that may impact the marketability of their issues. The calendar contains information regarding postponed, proposed and sold bond issues.

Oregon Bond Education Center

The Oregon Bond Education Center is intended to assist Oregon local governments with the process of issuing and managing debt. It is based on federal law, Oregon Revised Statutes (ORS), the Oregon Constitution, MDAC Administrative Rules, and current practices in the State. Information has been generalized for any issuing district with the term “municipality” to include any local government unit.

Agreement for Exchange of Interest Rates

  • MDAC OAR 170-060-1010 – Terms, Conditions, and Reporting Requirements for an Agreement for Exchange of Interest Rates 

  • MDAC Form 3  – Reporting of Agreement for the Exchange of Interest Rates

Oregon Bond Index

The Oregon Bond Index charts Oregon municipal bond interest rates.

Oregon Bond Elections

The office of the Oregon Secretary of State tracks all recent and upcoming bonds elections as well as historical data across the State of Oregon.

Fees for local debt management services

The Debt Management Division charges fees for several of our services. This section contains a  listing of fees charged to Local Government Agencies related to bond transactions.

Federal Compliance

Commission Members 

  • Eileen Hendricks
    Special Districts Association

  • Jaime Alvarez
    Treasurer's Designee

  • Brian Nava
    Association of Oregon Counties

  • Christine Reynolds
    Public Member

  • Bryce Stadick
    Public Member

  • Sharon Wojda
    League of Oregon Cities

  • Brett Yancey
    Oregon School Board Association

Meeting Dates, Agendas, and Audio


DatePublic Notice & Agenda
Meeting MaterialsAudio
June 15
Public Notice & Agenda
Meeting Materials Audio
May 18
Public Notice & Agenda
Meeting Materials Audio




June 28
Public Notice & Agenda
May 24 Public Notice & Agenda
April 22
Public Notice & Agenda
April 12
Public Notice & Agenda Audio
April 5
Public Notice & Agenda Audio

Annual Reports


Call us at (503) 378-4930 or by e-mail at