2017 ORS 284.748¹
Oregon Innovation Debt Service Fund

(1) The Oregon Innovation Debt Service Fund is established in the State Treasury, separate and distinct from the General Fund. The Oregon Innovation Debt Service Fund consists of:

(a) An amount from the moneys deposited in the Oregon Innovation Fund credited to the Oregon Innovation Debt Service Fund by the State Treasurer that is necessary in a fiscal year, as determined by the Oregon Innovation Council, in consultation with the Oregon Business Development Department and the State Treasurer, to pay the bond-related costs scheduled to be paid in that fiscal year on the revenue bonds issued under ORS 284.746 (Request for issuance of revenue bonds);

(b) Any funds appropriated or allocated to the Oregon Innovation Debt Service Fund; and

(c) Investment earnings received on moneys in the Oregon Innovation Debt Service Fund.

(2) Moneys in the Oregon Innovation Debt Service Fund are continuously appropriated to the Oregon Innovation Council to pay, when due, the bond-related costs on outstanding revenue bonds, to fund revenue bond reserves and to pay amounts due in connection with credit enhancements.

(3) The council, in consultation with the department and the State Treasurer, shall use amounts in the Oregon Innovation Debt Service Fund to pay, when due, the bond-related costs on outstanding revenue bonds, to fund revenue bond reserves and to pay amounts due in connection with credit enhancements.

(4) If the moneys deposited in the Oregon Innovation Fund are not sufficient to pay the bond-related costs due to be paid in a fiscal year, the council, in consultation with the department and the State Treasurer, shall make payments in that fiscal year according to the relative priority of revenue bonds secured by the moneys deposited in the Oregon Innovation Fund. [2011 c.610 §14]

1 Legislative Counsel Committee, CHAPTER 284—Organizations for Economic Development, https://­www.­oregonlegislature.­gov/­bills_laws/­ors/­ors284.­html (2017) (last ac­cessed Mar. 30, 2018).
 
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.