ORS 294.366¹
Reserving receipts from revenue-producing property or facility
  • deposit in special fund

(1) Any port or dock commission may reserve any portion of the receipts from any revenue-producing property or facility. Any city may reserve any portion of the receipts from any public utility operation of such city. Any such port, dock commission or city may reserve any proceeds from the sale of any such property for future maintenance, alteration, repair, equipment, relocation or replacement of such properties or facilities of the general nature and type from which the proceeds or receipts were received or for insurance funds or retirement pension funds, as the governing body may deem necessary or appropriate. However, if money is received from the sale of property that has been purchased with the proceeds from the sale of bonds or utility certificates, the governing body shall first apply the receipts from the sale of such property to the payment of any applicable outstanding bonded indebtedness before allocation of any portion of the receipts to a reserve fund.

(2) Moneys reserved under subsection (1) of this section shall be placed in a special fund or funds. [1963 c.576 §12; 2005 c.22 §224]

Notes of Decisions

Tax court properly invalidated sanitary authority's proposed tax where authority had sufficient federal grant and other funds available to meet pay­ments due on its bonds without tax. Bashaw, Dept. of Rev. v. Bear Creek Valley San. Auth., 287 Or 113, 597 P2d 822 (1979)

Atty. Gen. Opinions

Budgeting deferred compensa­tion assets and liabilities, (1976) Vol 37, p 1284; exclusion of municipal financial activities with respect to urban renewal agency projects, (1977) Vol 38, p 1062

1 Legislative Counsel Committee, CHAPTER 294—County and Municipal Financial Administration, https://­www.­oregonlegislature.­gov/­bills_laws/­Archive/­2007ors294.­pdf (2007) (last ac­cessed Feb. 12, 2009).
2 Legislative Counsel Committee, Annotations to the Oregon Revised Stat­utes, Cumulative Supplement - 2007, Chapter 294, https://­www.­oregonlegislature.­gov/­bills_laws/­ors/­294ano.­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