Oregon Statutes - Chapter 352 - State and Independent Institutions of Higher Education - Section 352.560 - Oregon State University Fund.

For the endowment, maintenance and support of Oregon State University, there is set apart, separate and distinct from the General Fund, and continuously appropriated the interest on the Oregon State University Fund, arising from the sale of all lands granted to the State of Oregon, or to which the state was entitled, under the Act of July 2, 1862 (12 Stat. 503), as amended, or so much thereof as may be necessary. In no case shall the interest arising from the fund be applied to the purchase of sites, or for buildings for Oregon State University, but only in the payment of the salaries of professors, officers and other current expenses. The remainder of such interest remaining over at the close of each fiscal year after the payment of such expenses shall be added to and become a part of the principal or endowment fund forever. [Amended by 1969 c.594 §49; 1989 c.966 §39; 2005 c.755 §27]

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Last modified: August 7, 2008