State Borrowing

ORS 286A.802
Article XI-P Bond Fund

  • purposes


The Article XI-P Bond Fund is established in the State Treasury, separate and distinct from the General Fund. Amounts in the Article XI-P Bond Fund may be invested as provided in ORS 293.701 (Definitions for ORS 293) to 293.857 (Separate accounts for each local government), and interest earned on the bond fund must be credited to the bond fund. Amounts credited to the bond fund are continuously appropriated to the Oregon Department of Administrative Services for the purpose of paying, when due, the principal of, the interest on and the premium, if any, on outstanding Article XI-P bonds. The department shall deposit in the bond fund:


Capitalized or accrued interest on Article XI-P bonds;


Amounts appropriated or otherwise provided by the Legislative Assembly for deposit in the bond fund;


Reserves established for the payment of Article XI-P bonds; and


Amounts transferred from the School Capital Matching Fund established under ORS 286A.806 (School Capital Matching Fund) as described in section 4, Article XI-P of the Oregon Constitution.


At the request of the department, the State Treasurer may create separate accounts in the bond fund for reserves and debt service for each series of Article XI-P bonds as provided in ORS 286A.025 (Issuance and sale of bonds) (2)(g). [2011 c.699 §4; 2017 c.9 §6]


Last accessed
May 26, 2023