ORS 270.150
Proceeds of sale of real property
(1)
The proceeds, less costs, of any real property sold by the Oregon Department of Administrative Services under ORS 270.100 (Notice to department before sale of real property), 270.110 (Disposition of property not needed for public use) and 270.130 (Publication of notice of sale) may be credited to and deposited in the Capital Projects Fund established by ORS 276.005 (Capital Projects Fund) or the Trust for Cultural Development Account established in ORS 359.405 (Trust for Cultural Development Account).(2)
The proceeds of any real property sold by a state agency under ORS 270.100 (Notice to department before sale of real property) and 270.110 (Disposition of property not needed for public use) may be credited to and deposited in the Trust for Cultural Development Account. If the proceeds are credited to and deposited in the account, a state agency may retain from the proceeds the costs of selling the real property and the amount originally paid by the state agency when the state agency acquired the real property.(3)
The revenue from the rental or lease of surplus real property managed by the department shall be deposited in the State Treasury to the credit of the operating fund established by ORS 283.076 (Oregon Department of Administrative Services Operating Fund).(4)
Notwithstanding the provisions of subsection (1) or (2) of this section, an agency may negotiate with the department to apply the proceeds of a sale, transfer or lease of such surplus real property to another capital acquisition of that agency. [1991 c.816 §10; 2001 c.954 §29]
Source:
Section 270.150 — Proceeds of sale of real property, https://www.oregonlegislature.gov/bills_laws/ors/ors270.html.
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