ORS 541.755¹
Use of other funds for project construction
  • effect on funds loaned by state
  • use of other funds to repay state loan

Except as provided in ORS 541.760 (Reduction of loan amount when secondary use funding available):

(1) If any water development project investigated under ORS 541.700 (Definitions for ORS 541.700 to 541.855) to 541.855 (Biennial report to Legislative Assembly and Governor), other than a safe drinking water project financed in whole or in part from moneys in the Special Public Works Fund created by ORS 285B.455 (Special Public Works Fund) or the Water Fund created by ORS 285B.563 (Water Fund), is constructed with funds other than those loaned under ORS 541.700 (Definitions for ORS 541.700 to 541.855) to 541.855 (Biennial report to Legislative Assembly and Governor), the amount expended by the state shall immediately become due and payable, together with interest at the rate provided in ORS 541.730 (Loan contract) (2) from the date of notification of the amount due.

(2) If any water development project is refinanced or financial assistance is obtained from other sources, other than a safe drinking water project financed in whole or in part from moneys in the Special Public Works Fund created by ORS 285B.455 (Special Public Works Fund) or the Water Fund created by ORS 285B.563 (Water Fund), after the execution of the loan from the state, all such funds shall be first used to repay the state. [1977 c.246 §14; 1991 c.944 §7; 1995 c.79 §304]

1 Legislative Counsel Committee, CHAPTER 541—Watershed Enhancement and Protection; Water Development Projects; Miscellaneous Provisions on Water Rights; Stewardship Agreements, https://­www.­oregonlegislature.­gov/­bills_laws/­Archive/­2007ors541.­pdf (2007) (last ac­cessed Feb. 12, 2009).
 
2 OregonLaws.org contains the con­tents of Volume 21 of the ORS, inserted along­side the per­tin­ent statutes. See the preface to the ORS An­no­ta­tions for more information.
 
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