Oregon § 286A.854 Article XI-G Bond Fund; purposes

Oregon Statutes

§ 286A.854 — Article XI-G Bond Fund; purposes

Oregon § 286A.854

Vol.7

Title 27Public Borrowing

Ch. 286ASTATE BORROWING

This text of Oregon § 286A.854 (Article XI-G Bond Fund; purposes) 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. § 286A.854 (2026).

Text

(1)The Article XI-G Bond Fund is established in the State Treasury, separate and distinct from the General Fund, or with a third party under contract with the Oregon Department of Administrative Services and approved by the State Treasurer. Moneys in the Article XI-G Bond Fund may be invested as provided in ORS 286A.025 and 293.701 to 293.857, and interest earned on the fund must be credited to the fund. Moneys credited to the Article XI-G Bond Fund are continuously appropriated to the department for the purpose of paying, when due, the principal of, the interest on and the premium, if any, on outstanding Article XI-G bonds. The department shall deposit in the fund:

(a)Capitalized or accrued interest on Article XI-G bonds;

(b)Moneys appropriated or otherwise provided by the Legislative

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(1) The Article XI-G Bond Fund is established in the State Treasury, separate and distinct from the General Fund, or with a third party under contract with the Oregon Department of Administrative Services and approved by the State Treasurer. Moneys in the Article XI-G Bond Fund may be invested as provided in ORS 286A.025 and 293.701 to 293.857, and interest earned on the fund must be credited to the fund. Moneys credited to the Article XI-G Bond Fund are continuously appropriated to the department for the purpose of paying, when due, the principal of, the interest on and the premium, if any, on outstanding Article XI-G bonds. The department shall deposit in the fund:
(a) Capitalized or accrued interest on Article XI-G bonds;
(b) Moneys appropriated or otherwise provided by the Legislative Assembly for deposit in the fund;
(c) Reserves, if any, established for the payment of Article XI-G bonds;
(d) Moneys transferred from a project fund under ORS 286A.848 (4);
(e) Moneys received from ad valorem taxes levied pursuant to ORS 291.445; and
(f) Moneys provided by the Legislative Assembly in lieu of ad valorem taxes levied under ORS 291.445.
(2) At the request of the department, the State Treasurer may create or cause to be created separate accounts in the fund for reserves and debt service for each series of Article XI-G bonds.