Transportation Financing

ORS 367.173
Moneys that may be used for payment of grant anticipation revenue bonds

The principal, interest, premium, if any, and the purchase or tender price of the grant anticipation revenue bonds issued under ORS 367.161 (Definitions for ORS 367.161 to 367.181) to 367.181 (Limits on obligation of grant anticipation revenue bonds) are payable solely from the following moneys:

(1)

Federal transportation funds.

(2)

To the extent affirmatively pledged at the time issuance of revenue bonds is authorized, the following moneys that are lawfully available:

(a)

Moneys deposited in the State Highway Fund established under ORS 366.505 (Composition and use of highway fund).

(b)

Except as provided in paragraph (c) of this subsection, moneys, once deposited in the State Highway Fund established under ORS 366.505 (Composition and use of highway fund), from the following sources may be affirmatively pledged:

(A)

Moneys from the taxes and fees on motor carriers imposed under ORS 825.474 (Motor carrier tax for use of highways) and 825.480 (Substitute taxes for certain vehicles).

(B)

Moneys from the tax on motor vehicle fuel imposed under ORS 319.020 (Monthly statement by dealer).

(C)

Moneys from the tax on fuel used in motor vehicles imposed under ORS 319.530 (Imposition of tax).

(D)

Moneys from the special use fuel license fee under ORS 319.535 (Special use fuel license fee).

(E)

Moneys described under ORS 803.090 (Fees for certificate of title) from the titling of vehicles.

(F)

Moneys described under ORS 803.420 (Registration fees) from the registration of vehicles.

(G)

Moneys described under ORS 807.370 (License, endorsement and permit fees) relating to the issuance of driver licenses and driver permits.

(H)

Moneys received by the Department of Transportation from taxes, fees or charges imposed after January 1, 2001, or other revenues or moneys received by the department from sources not listed in subparagraphs (A) to (G) of this paragraph that are lawfully available to be pledged under this section.

(c)

Moneys described in paragraph (b) of this subsection do not include:

(A)

Moneys provided for appropriations to counties under ORS 366.762 (Appropriation from highway fund for counties) to 366.768 (Advances from highway fund to county).

(B)

Moneys provided for appropriations to cities under ORS 366.785 (Definitions for ORS 366.785 to 366.820) to 366.820 (Limit to application of ORS 366.785 to 366.815).

(C)

Moneys in the account established under ORS 366.512 (Collection of certain registration fees for State Parks and Recreation Department Fund) for parks and recreation. [2003 c.201 §7; 2014 c.13 §8]
Source

Last accessed
Jun. 26, 2021

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