(1) There is established in the State Treasury, separate and distinct from the General Fund, the Historic Preservation Revolving Loan Fund. Moneys in the Historic Preservation Revolving Loan Fund are continuously appropriated to the State Historic Preservation Officer for the following purposes:
(a) To provide loans to owners of historic property, as described in ORS 358.662 to 358.678.
(b) For administrative expenses of the State Historic Preservation Officer in:
(A) Processing applications for loans made under ORS 358.662 to 358.678;
(B) Investigating historic property rehabilitation projects funded by loans made under ORS 358.662 to 358.678; and
(C) Collecting loans made under ORS 358.662 to 358.678.
(2) The Historic Preservation Revolving Loan Fund shall consist of:
(a) Moneys appropriated to the fund by the Legislative Assembly;
(b) Repayment of moneys loaned from the fund;
(c) Moneys transferred to the fund from the federal government or from private contributions;
(d) Application fees required under ORS 358.668; and
(e) Interest and other earnings on moneys in the fund.
(3) If the State Historic Preservation Officer does not make any loan from the Historic Preservation Revolving Loan Fund for a 24-month period, the balance of the Historic Preservation Revolving Loan Fund and any repayments of loans from the Historic Preservation Revolving Loan Fund shall be transferred to the Oregon Property Management Account established under ORS 358.690 and may be spent for any purpose for which Oregon Property Management Account moneys may be spent. [2001 c.540 §30]
Section: Previous 358.645 358.647 358.650 358.653 358.655 358.660 358.662 358.664 358.666 358.668 358.670 358.672 358.674 358.676 358.678 NextLast modified: August 7, 2008