2007 ORS 470.230¹
Bond proceeds credited to loan fund
  • use of funds

Except as provided in ORS 470.270 (Refunding bonds), all moneys obtained from the sale of bonds under ORS 470.220 (Issuance of bonds) to 470.290 (Bond indebtedness limited to constitutional limit) shall be credited by the State Treasurer to the loan fund. Those moneys shall be used only for the purposes stated in Article XI-J of the Oregon Constitution and ORS 470.050 (Definitions) to 470.120 (Limit on loan to amount not funded by other sources), 470.140 (Rulemaking authority) (1) and 470.150 (Loan contract) to 470.210 (Municipal corporation may enter into loan contract), including payment of the costs of issuing the bonds and of obtaining credit enhancement for the bonds, and making payments of interest on bonds issued pursuant to the provisions of ORS 470.220 (Issuance of bonds) to 470.290 (Bond indebtedness limited to constitutional limit) if there are insufficient funds in the sinking fund to make the payments referred to in ORS 470.300 (Small Scale Local Energy Project Administration and Bond Sinking Fund) (1). Moneys loaned to municipal corporations but withheld by the State Department of Energy for security or to pay for future project costs may remain in the loan fund. Pending the use of the moneys in the loan fund for the proper purposes, the moneys may be invested in the manner provided by law. [1979 c.672 §18; 1987 c.365 §5; 2003 c.186 §69; 2005 c.201 §9]

Chapter 470

Notes of Decisions

There is nothing in this chapter which requires the Depart­ment of Energy or its director to recover loans or withhold future loan install­ments for the purpose of compelling compliance by the borrower with the wage and employ­ment condi­tions of state law. State ex rel Building Council v. Bureau of Labor, 61 Or App 22, 656 P2d 325 (1982), Sup Ct review denied

1 Legislative Counsel Committee, CHAPTER 470—Small Scale Local Energy Projects, https://­www.­oregonlegislature.­gov/­bills_laws/­ors/­470.­html (2007) (last ac­cessed Feb. 12, 2009).
2 Legislative Counsel Committee, Annotations to the Oregon Revised Stat­utes, Cumulative Supplement - 2007, Chapter 470, https://­www.­oregonlegislature.­gov/­bills_laws/­ors/­470ano.­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.