Administration of Public Funds

ORS 293.701
Definitions for ORS 293.701 to 293.857


As used in ORS 293.701 (Definitions for ORS 293.701 to 293.857) to 293.857 (Separate accounts for each local government), unless the context requires otherwise:

(1)

“Council” means the Oregon Investment Council.

(2)

“Investment funds” means:

(a)

Public Employees Retirement Fund referred to in ORS 238.660 (Fund generally);

(b)

Industrial Accident Fund referred to in ORS 656.632 (Industrial Accident Fund);

(c)

Consumer and Business Services Fund referred to in ORS 705.145 (Consumer and Business Services Fund);

(d)

Employment Department Special Administrative Fund referred to in ORS 657.822 (Employment Department Special Administrative Fund);

(e)

Insurance Fund referred to in ORS 278.425 (Insurance Fund);

(f)

Funds under the control and administration of the Department of State Lands;

(g)

Oregon Student Assistance Fund referred to in ORS 348.570 (Funds in State Treasury);

(h)

Moneys made available to the Commission for the Blind under ORS 346.270 (Receipt and expenditure of gifts and bequests) and 346.569 (Fund from net proceeds of operation of vending facilities) or rules adopted thereunder;

(i)

Forest Development Revenue Bond Fund referred to in ORS 530.147 (Forest Development Revenue Bond Fund) and State Forestry General Obligation Bond Fund referred to in ORS 530.280 (State Forestry General Obligation Bond Fund);

(j)

Oregon War Veterans’ Fund referred to in ORS 407.495 (Oregon War Veterans’ Fund);

(k)

Oregon War Veterans’ Bond Sinking Account referred to in ORS 407.515 (Oregon War Veterans’ Bond Sinking Account);

(L)

World War II Veterans’ Compensation Fund;

(m)

World War II Veterans’ Bond Sinking Fund;

(n)

Funds in the hands of the State Treasurer that are not required to meet current demands and that are invested in the Oregon Short Term Fund established under ORS 293.728 (Oregon Short Term Fund) or in another commingled investment vehicle;

(o)

State funds that are not subject to the control and administration of officers or bodies specifically designated by law;

(p)

Funds derived from the sale of state bonds;

(q)

Social Security Revolving Account referred to in ORS 237.490 (Deposit investment and payment of funds);

(r)

Public University Fund established by ORS 352.450 (Public University Fund);

(s)

Local Government Employer Benefit Trust Fund referred to in ORS 657.513 (Political subdivision contribution payments from Local Government Employer Benefit Trust Fund);

(t)

Elderly and Disabled Special Transportation Fund established by ORS 391.800 (Elderly and Disabled Special Transportation Fund);

(u)

Education Stability Fund established by ORS 348.696 (Education Stability Fund);

(v)

Deferred Compensation Fund established under ORS 243.411 (Deferred Compensation Fund);

(w)

Trust for Cultural Development Account established under ORS 359.405 (Trust for Cultural Development Account); and

(x)

The State Library Donation Fund and the Talking Book and Braille Library Endowment Fund subaccount established under ORS 357.195 (State Library Donation Fund).

(3)

“Investment officer” means the State Treasurer in the capacity as investment officer for the council. [1967 c.335 §1; 1967 c.399 §5; 1971 c.408 §1; 1975 c.363 §1a; 1975 c.471 §1a; 1977 c.491 §11; 1977 c.892 §31; 1979 c.814 §3; 1980 c.19 §2; 1981 c.660 §47; 1985 c.565 §48; 1985 c.731 §25; 1985 c.759 §38; 1985 c.816 §14; 1987 c.373 §28; 1987 c.616 §6; 1987 c.652 §17; 1989 c.224 §49; 1989 c.597 §8; 1991 c.459 §378; 1993 c.18 §58; 1993 c.210 §19; 1995 c.12 §3; 1997 c.179 §21; 1999 c.274 §21; 1999 c.1078 §67; 2001 c.922 §14; 2001 c.954 §25; 2002 s.s.3 c.6 §9; 2003 c.67 §35a; 2003 c.625 §30; 2003 c.733 §82; 2009 c.541 §11; 2009 c.762 §41; 2009 c.821 §29; 2009 c.831 §17; 2015 c.767 §11; 2015 c.840 §24; 2017 c.717 §18]
Note: The amendments to 293.701 (Definitions for ORS 293.701 to 293.857) by section 64, chapter 678, Oregon Laws 2019, become operative July 1, 2021. See section 85, chapter 678, Oregon Laws 2019. The text that is operative on and after July 1, 2021, is set forth for the user’s convenience.
293.701 (Definitions for ORS 293.701 to 293.857). As used in ORS 293.701 (Definitions for ORS 293.701 to 293.857) to 293.857 (Separate accounts for each local government), unless the context requires otherwise:

(1)

“Council” means the Oregon Investment Council.

(2)

“Investment funds” means:

(a)

Public Employees Retirement Fund referred to in ORS 238.660 (Fund generally);

(b)

Industrial Accident Fund referred to in ORS 656.632 (Industrial Accident Fund);

(c)

Consumer and Business Services Fund referred to in ORS 705.145 (Consumer and Business Services Fund);

(d)

Employment Department Special Administrative Fund referred to in ORS 657.822 (Employment Department Special Administrative Fund);

(e)

Insurance Fund referred to in ORS 278.425 (Insurance Fund);

(f)

Funds under the control and administration of the Department of State Lands;

(g)

Oregon Student Assistance Fund referred to in ORS 348.570 (Funds in State Treasury);

(h)

Moneys made available to the Commission for the Blind under ORS 346.270 (Receipt and expenditure of gifts and bequests) and 346.569 (Fund from net proceeds of operation of vending facilities) or rules adopted thereunder;

(i)

Forest Development Revenue Bond Fund referred to in ORS 530.147 (Forest Development Revenue Bond Fund) and State Forestry General Obligation Bond Fund referred to in ORS 530.280 (State Forestry General Obligation Bond Fund);

(j)

Oregon War Veterans’ Fund referred to in ORS 407.495 (Oregon War Veterans’ Fund);

(k)

Oregon War Veterans’ Bond Sinking Account referred to in ORS 407.515 (Oregon War Veterans’ Bond Sinking Account);

(L)

World War II Veterans’ Compensation Fund;

(m)

World War II Veterans’ Bond Sinking Fund;

(n)

Funds in the hands of the State Treasurer that are not required to meet current demands and that are invested in the Oregon Short Term Fund established under ORS 293.728 (Oregon Short Term Fund) or in another commingled investment vehicle;

(o)

State funds that are not subject to the control and administration of officers or bodies specifically designated by law;

(p)

Funds derived from the sale of state bonds;

(q)

Social Security Revolving Account referred to in ORS 237.490 (Deposit investment and payment of funds);

(r)

Public University Fund established by ORS 352.450 (Public University Fund);

(s)

Local Government Employer Benefit Trust Fund referred to in ORS 657.513 (Political subdivision contribution payments from Local Government Employer Benefit Trust Fund);

(t)

Elderly and Disabled Special Transportation Fund established by ORS 391.800 (Elderly and Disabled Special Transportation Fund);

(u)

Education Stability Fund established by ORS 348.696 (Education Stability Fund);

(v)

Deferred Compensation Fund established under ORS 243.411 (Deferred Compensation Fund);

(w)

Trust for Cultural Development Account established under ORS 359.405 (Trust for Cultural Development Account);

(x)

The State Library Donation Fund and the Talking Book and Braille Library Endowment Fund subaccount established under ORS 357.195 (State Library Donation Fund);

(y)

Funds in the Unclaimed Property Revolving Fund created in ORS 98.388 (Unclaimed Property Revolving Fund); and

(z)

Funds in the Common School Fund that are available for investment.

(3)

“Investment officer” means the State Treasurer in the capacity as investment officer for the council.

Atty. Gen. Opinions

Earnings derived from excess fund investment, (1976) Vol 37, p 1309; construing "lawfully available for investment," (1976) Vol 38, p 271; Oregon Investment Council rather than State Board of Higher Education has primary authority to make investment decisions regarding higher education investment funds, (1989) Vol 46, p 143; board and investment council may cooperate in setting investment policy regarding higher education funds, (1989) Vol 46, p 143

§§ 293.701 to 293.776

Atty. Gen. Opinions

Effect of Board of Higher Education order directing divestiture of stock in companies doing business in Southern Africa, (1978) Vol 38, p 2017; State Treasurer authority to enter into reverse repurchase agreements, (1979) Vol 39, p 569; real estate holdings through investment for Oregon Public Employes' Retirement Fund, (1981) Vol 41, p 503; Statutory and fiduciary duties of treasurer and Or. Investment Council to PERF, (1993) Vol 46, p 506

Chapter 293

Atty. Gen. Opinions

Duty or authority of Secretary of State to conduct performance audits, (1985) Vol. 44, p 381


Source

Last accessed
Jun. 26, 2021