(1) If the Department of Transportation determines that there is insufficient money in any of its funds to pay the obligations against that fund, the department may request the State Treasurer to transfer money from one or more other funds to the fund that has insufficient money. The treasurer shall transfer the money if:
(a) The lending fund has money that is not required at the time of the transfer to meet the obligations against the fund; and
(b) The treasurer determines that there are or will be enough moneys accruing to the borrowing fund, or that can be transferred to it, to enable a retransfer of the money to the lending fund in time to meet the requirements of the lending fund.
(2) All moneys transferred under this section to a borrowing fund shall be retransferred to the lending funds when or before they are needed.
(3) The department may request transfers of money under this section regardless of whether or not the insufficiency in a fund that triggers the request was anticipated by the department. [1991 c.793 §2; 2005 c.22 §218]
Note: 293.212 was added to and made a part of 293.205 to 293.225 by legislative action but was not added to any smaller series therein. See Preface to Oregon Revised Statutes for further explanation.Section: Previous 293.173 293.175 293.177 293.180 293.190 293.205 293.210 293.212 293.214 293.215 293.220 293.225 293.227 293.229 293.231 Next
Last modified: August 7, 2008