§ 293.212 — Transfers to funds of Department of Transportation with insufficient moneys

Oregon § 293.212

• Jurisdiction: Oregon
• Vol.: 7
• Title 28: Public Financial Administration
• Ch. 293: Administration of Public Funds

Text

(1) If the Department of Transportation determines that there is insufficient money in any of its funds to pay the obligations against that fund, the department may request the State Treasurer to transfer money from one or more other funds to the fund that has insufficient money. The treasurer shall transfer the money if:
(a) The lending fund has money that is not required at the time of the transfer to meet the obligations against the fund; and
(b) The treasurer determines that there are or will be enough moneys accruing to the borrowing fund, or that can be transferred to it, to enable a retransfer of the money to the lending fund in time to meet the requirements of the lending fund.
(2) All moneys transferred under this section to a borrowing fund shall be retransferred to the lending funds when or before they are needed.
(3) The department may request transfers of money under this section regardless of whether or not the insufficiency in a fund that triggers the request was anticipated by the department.

Legislative History

1991 c.793 §2; 2005 c.22 §218