Bond repayment from sinking fund
(1) The State Treasurer shall make payment of the principal of and the interest and redemption premium, if any, on any bond issued under ORS 470.220 (Issuance of bonds) to 470.290 (Bond indebtedness limited to constitutional limit) from the sinking fund.
(2) The State Treasurer shall compute and determine in January of each year, after the sale of bonds under ORS 470.220 (Issuance of bonds) to 470.290 (Bond indebtedness limited to constitutional limit), the amount of principal, interest and redemption premiums that will fall due during the year on bonds then outstanding and unpaid and shall maintain or hold in the sinking fund sufficient moneys to pay such maturing obligations. [1979 c.672 §§21,24; 2005 c.201 §12]
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