(1) There is created in the county treasury of each county a fund to be known as the County Assessment and Taxation Fund. The fund shall consist of:
(a) Moneys deposited and credited to the fund under ORS 311.508.
(b) Moneys deposited and credited to the fund under ORS 205.323.
(c) Interest earned upon moneys credited to the fund.
(2) The county treasurer shall pay over the moneys in the fund, determined as of the last day of the fiscal quarter, to the State Treasurer on or before the 10th day of the month following the last day of the fiscal quarter.
(3) The State Treasurer shall deposit and credit the moneys received under subsection (2) of this section to the County Assessment Function Funding Assistance Account referred to in ORS 294.184.
(4) If the county treasurer fails to pay over moneys, as required under subsection (2) of this section, then any unpaid moneys shall be a debt due and owing by the county to the state and the county shall pay the legal rate of interest thereon from the due date until paid. Payment of interest under this section shall not relieve the county treasurer from any penalty imposed by law for failure to make the payments, and in addition, the county treasurer shall be liable under ORS 311.375 (4)(a) and (b).
(5) ORS 294.305 to 294.565 do not apply to a fund created under this section. [1989 c.796 §7; 2003 c.273 §2]
Section: Previous 294.145 294.155 294.160 294.175 294.178 294.181 294.184 294.187 294.205 294.210 294.215 294.220 294.225 294.230 294.235 NextLast modified: August 7, 2008