Oregon Water Distributors; Water Releases; Conservation and Storage;
ORS 541.800
Payment of bond principal and interest from Water Development Administration and Bond Sinking Fund


(1)

The State Treasurer shall make payment of the principal of and the interest on any bond issued under ORS 541.780 (Bonds to provide project financing) to 541.815 (Limitation on bond issuance amount) from the Water Development Administration and Bond Sinking Fund.

(2)

The State Treasurer shall compute and determine in January of each year, after the sale of bonds under ORS 541.780 (Bonds to provide project financing) to 541.815 (Limitation on bond issuance amount), the amount of principal and interest which will fall due during such year on bonds then outstanding and unpaid and shall maintain or hold in the Water Development Administration and Bond Sinking Fund sufficient moneys to pay such maturing obligations. [1977 c.246 §§23,26]
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Last accessed
May. 15, 2020