Oregon § 280.508 County public purpose revolving loan fund

Oregon Statutes

§ 280.508 — County public purpose revolving loan fund

Oregon § 280.508

Vol.7

Title 26Public Facilities, Contracting and Insurance

Ch. 280Financing of Local Public Projects and Improvements; City and County Economic

This text of Oregon § 280.508 (County public purpose revolving loan fund) is published on Counsel Stack Legal Research, covering Oregon primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Or. Rev. Stat. § 280.508 (2026).

Text

When moneys are received by a county upon condition or with the intent of the receiving county that the moneys be used for a public purpose revolving loan fund, the county may dedicate the moneys for the purposes of the revolving loan fund and payment of the expenses of administering the fund by enacting an ordinance that:

(1)Establishes a separate fund into which all moneys to be used for economic development revolving loans or grants may be deposited together with proceeds, including loan fees and interest, received from processing and repayment of such loans;

(2)Specifies the public purpose and the scope and limitation of uses of moneys in the fund; and

(3)Provides for distribution of fund assets if the governing body of the county determines, after a public hearing, that dissolution

Free access — add to your briefcase to read the full text and ask questions with AI

When moneys are received by a county upon condition or with the intent of the receiving county that the moneys be used for a public purpose revolving loan fund, the county may dedicate the moneys for the purposes of the revolving loan fund and payment of the expenses of administering the fund by enacting an ordinance that:
(1) Establishes a separate fund into which all moneys to be used for economic development revolving loans or grants may be deposited together with proceeds, including loan fees and interest, received from processing and repayment of such loans;
(2) Specifies the public purpose and the scope and limitation of uses of moneys in the fund; and
(3) Provides for distribution of fund assets if the governing body of the county determines, after a public hearing, that dissolution of the fund is in the best interests of the public.