ORS 274.085¹
Acquisition for Common School Fund investment
  • lease of lands

Whenever it appears to the State Land Board to be prudent and to the financial benefit of the Common School Fund, the State Land Board may acquire as an investment for the Common School Fund any parcel of land, whether or not submerged, and submersible lands or formerly submerged and submersible lands. The consideration for such acquisition may be an exchange of other lands under the jurisdiction of the State Land Board including submerged and submersible lands or formerly submerged and submersible lands or cash or a combination of such lands and cash. In leasing any lands acquired as an investment for the Common School Fund, the board may use negotiation, competitive bidding, solicitation of proposals or whatever procedure or combination of procedures the board determines will maximize the financial benefit to the Common School Fund. The board may determine on a case-by-case basis what notice, publication or bidding procedures, if any, it wishes to use in implementing its authority under this section. [1979 c.546 §1; 1981 c.158 §2]

Note: 274.085 (Acquisition for Common School Fund investment) was enacted into law by the Legislative Assembly but was not added to or made a part of ORS chapter 274 or any series therein by legislative action. See Preface to Oregon Revised Statutes for further explanation.

Atty. Gen. Opinions

Circumstances under which State Land Board may approve dredging of lands acquired as asset of Common School Fund under ORS 274.085 (Acquisition for Common School Fund investment) and expend moneys from sources listed in Article VIII, sec­tion 2 (1) of Oregon Constitu­tion, (1989) Vol 46, p 208

Chapter 274

Atty. Gen. Opinions

Power of Depart­ment of Environ­mental Quality to regulate mining activities and recovery of oil and geothermal activities, (1972) Vol 35, p 1100; Division of State Lands' authority to require lease or fill or removal permit for private company dredging submerged offshore lands to harvest clams, (1979) Vol 40, p 35; State Land Board's authority to delegate duties to Port of Portland, (1979) Vol 40, p 111

Law Review Cita­tions

4 EL 343, 346, 348 (1974)

1 Legislative Counsel Committee, CHAPTER 274—Submersible and Submerged Lands, https://­www.­oregonlegislature.­gov/­bills_laws/­Archive/­2007ors274.­pdf (2007) (last ac­cessed Feb. 12, 2009).
2 Legislative Counsel Committee, Annotations to the Oregon Revised Stat­utes, Cumulative Supplement - 2007, Chapter 274, https://­www.­oregonlegislature.­gov/­bills_laws/­ors/­274ano.­htm (2007) (last ac­cessed Feb. 12, 2009).
3 OregonLaws.org assembles these lists by analyzing references between Sections. Each listed item refers back to the current Section in its own text. The result reveals relationships in the code that may not have otherwise been apparent. Currency Information