§ 286A.766 — Article XI-M Bond Administration Fund; purposes

Oregon § 286A.766

• Jurisdiction: Oregon
• Vol.: 7
• Title 27: Public Borrowing
• Ch. 286A: STATE BORROWING

Text

(1) The Article XI-M Bond Administration Fund is established in the State Treasury, separate and distinct from the General Fund. Amounts in the bond administration fund may be invested as provided in ORS 293.701 to 293.857, and interest earned on the bond administration fund must be credited to the bond administration fund. Amounts credited to the bond administration fund are continuously appropriated to the Oregon Department of Administrative Services for payment of bond-related costs. The department shall credit to the bond administration fund:
(a) Proceeds of Article XI-M bonds that were issued to pay bond-related costs;
(b) Amounts appropriated or otherwise provided by the Legislative Assembly for deposit in the bond administration fund; and
(c) Amounts transferred from the Education Seismic Fund by the Oregon Business Development Department as provided in ORS 286A.768.
(2) The Oregon Department of Administrative Services may create separate accounts in the bond administration fund.

Legislative History

Formerly 286.766; 2013 c.782 §6