ORS 286A.854
Article XI-G Bond Fund
- purposes
(1)
The Article XI-G Bond Fund is established in the State Treasury, separate and distinct from the General Fund, or with a third party under contract with the Oregon Department of Administrative Services and approved by the State Treasurer. Moneys in the Article XI-G Bond Fund may be invested as provided in ORS 286A.025 (Issuance and sale of bonds) and 293.701 (Definitions for ORS 293.701 to 293.857) to 293.857 (Separate accounts for each local government), and interest earned on the fund must be credited to the fund. Moneys credited to the Article XI-G Bond Fund are continuously appropriated to the department for the purpose of paying, when due, the principal of, the interest on and the premium, if any, on outstanding Article XI-G bonds. The department shall deposit in the fund:(a)
Capitalized or accrued interest on Article XI-G bonds;(b)
Moneys appropriated or otherwise provided by the Legislative Assembly for deposit in the fund;(c)
Reserves, if any, established for the payment of Article XI-G bonds;(d)
Moneys transferred from a project fund under ORS 286A.848 (Authority of State Treasurer to issue Article XI-G bonds) (4);(e)
Moneys received from ad valorem taxes levied pursuant to ORS 291.445 (Certificate of state agency that issues general obligation bonds); and(f)
Moneys provided by the Legislative Assembly in lieu of ad valorem taxes levied under ORS 291.445 (Certificate of state agency that issues general obligation bonds).(2)
At the request of the department, the State Treasurer may create or cause to be created separate accounts in the fund for reserves and debt service for each series of Article XI-G bonds. [2015 c.828 §10]
Source:
Section 286A.854 — Article XI-G Bond Fund; purposes, https://www.oregonlegislature.gov/bills_laws/ors/ors286A.html.
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