(1) The Article XI-O Bond Administration Fund is established in the State Treasury, separate and distinct from the General Fund. Interest earned on the bond administration fund must be credited to the bond administration fund. Amounts credited to the bond administration fund are continuously appropriated to the Oregon Department of Administrative Services for payment of bond-related costs. The department shall credit to the bond administration fund:
(a) Proceeds of Article XI-O bonds that were issued to pay bond-related costs that are not credited to the bond fund;
(b) Amounts appropriated or otherwise provided by the Legislative Assembly for deposit in the bond administration fund; and
(c) Amounts received in payment of a bill for bond-related costs that are not credited to the bond fund.
(2) The department may create separate accounts in the bond administration fund. [Formerly 286.745]Section: Previous 286A.605 286A.615 286A.620 286A.700 286A.730 286A.735 286A.740 286A.745 286A.750 286A.760 286A.762 286A.764 286A.766 286A.768 286A.772 Next
Last modified: August 7, 2008