Water Distributors

ORS 541.785
Disposition and use of bond proceeds


Except for the proceeds of refunding bonds, all moneys obtained from the sale of bonds under ORS 541.780 (Bonds to provide project financing) to 541.815 (Limitation on bond issuance amount) shall be credited by the State Treasurer to the Water Development Fund. Such moneys shall be used only for the purposes stated in Article XI-I (1), Oregon Constitution, and ORS 541.700 (Definitions for ORS 541.700 to 541.855), 541.705 (Project applications) to 541.770 (Federal project loan contract terms) and 541.835 (Water Development Fund). If there are insufficient funds in the Water Development Administration and Bond Sinking Fund to make the payments set forth in ORS 541.830 (Water Development Administration and Bond Sinking Fund), moneys in the Water Development Fund may be transferred to the Water Development Administration and Bond Sinking Fund. Pending the use of moneys in the Water Development Fund for the proper purposes, such moneys may be invested in the manner provided by law. [1977 c.246 §20; 1981 c.660 §46; 1989 c.950 §4; 2009 c.907 §§11,39]

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Last accessed
Jun. 26, 2021