§ 526.725 — Agreements with private, governmental or other organizations; land acquisitions; investment of funds; forestry carbon offsets; trust on governmental agencies or officers not created

Oregon § 526.725

• Jurisdiction: Oregon
• Vol.: 14
• Title 44: Forestry and Forest Products
• Ch.: 526

Text

(1) The State Board of Forestry or the State Forester may enter into agreements with private, governmental or other organizations and may accept contributions, gifts or grants from any source to carry out the duties, functions and powers of the Forest Resource Trust. All moneys received by the board or the State Forester pursuant to this section shall be deposited in the Forest Resource Trust Fund.
(2) The board may acquire, on behalf of the Forest Resource Trust, through exchange, lease or purchase, land only to the extent necessary to carry out the duties, functions and powers of the trust.
(3) Agreements with private, governmental or other organizations under subsection (1) of this section may specify the terms under which funds are invested and benefits accrue to the contributing party to the extent the agreement is consistent with the provisions of ORS 526.695 to 526.775.
(4) The State Forester may, on behalf of the Forest Resource Trust, market, register, transfer or sell forestry carbon offsets attributable to the lands enrolled in the stand establishment program under ORS 526.705. Prices for the transfer or sale of forestry carbon offsets may be negotiated but must be at or greater than fair market value.
(5) Nothing in ORS 526.695 to 526.775 is intended to create an enforceable trust on any agency or officer of the State of Oregon.

Legislative History

1993 c.765 §62; 2001 c.752 §7; 2007 c.201 §9