2011 ORS § 352.560¹
Account for endowment, maintenance and support of Oregon State University
- • limitations on use
(1) An account in the Oregon University System Fund established by ORS 351.506 (Oregon University System Fund) is designated for the endowment, maintenance and support of Oregon State University.
(2) The account designated by this section consists of moneys 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. Interest arising from the account may not be applied to the purchase of sites or for buildings for Oregon State University. Interest from the account may be used only in the payment of the salaries of professors, officers and other current expenses. The remainder of any interest remaining at the close of each fiscal year after the payment of the expenses described in this section shall be added to and become a part of the principal of the account. [Amended by 1969 c.594 §49; 1989 c.966 §39; 2005 c.755 §27; 2009 c.762 §33]