(1) The Department of Transportation shall cause cities and counties that receive funds under ORS 367.705 to repay bond debt service by withholding from payments due to the city under ORS 366.785 to 366.820 or to the county under ORS 366.762 to 366.768. Funds withheld under this subsection remain in the State Highway Fund available for the purposes authorized by law.
(2) The Department of Transportation shall fix the rate of interest to be charged on any advance made under ORS 367.705. [1975 c.211 §3; 2003 c.201 §32]
Section: Previous 367.650 367.655 367.660 367.665 367.670 367.700 367.705 367.710 367.715 367.720 367.725 367.730 367.735 367.740 367.745 NextLast modified: August 7, 2008