ORS 286A.820
Article XI-Q Bond Fund
- purposes
(1)
The Article XI-Q Bond Fund is established in the State Treasury, separate and distinct from the General Fund. Amounts in the Article XI-Q Bond Fund may be invested as provided in ORS 293.701 (Definitions for ORS 293.701 to 293.857) 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-Q bonds. The department shall deposit in the bond fund:(a)
Capitalized or accrued interest on Article XI-Q bonds;(b)
Amounts appropriated or otherwise provided by the Legislative Assembly for deposit in the bond fund;(c)
Reserves established for the payment of Article XI-Q bonds;(d)
Amounts transferred from a project fund as provided in ORS 286A.818 (Authority of State Treasurer to issue bonds) (5); and(e)
Amounts paid by a project agency under ORS 286A.824 (Article XI-Q bond program).(2)
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-Q bonds as provided in ORS 286A.025 (Issuance and sale of bonds) (2)(g). [2011 c.14 §4]
Source:
Section 286A.820 — Article XI-Q Bond Fund; purposes, https://www.oregonlegislature.gov/bills_laws/ors/ors286A.html.
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