Short Term Borrowing Account
- • sources
- • uses
(1) The Short Term Borrowing Account is created in the General Fund.
(2) The State Treasurer shall credit the proceeds of bonds issued by the State Treasurer under ORS 286A.045 (Borrowing for current expenses) to the Short Term Borrowing Account. The State Treasurer shall, in addition, transfer to the Short Term Borrowing Account any amounts that are pledged to pay bonds issued by the State Treasurer under ORS 286A.045 (Borrowing for current expenses) and that are required to pay those bonds.
(3) Amounts in the Short Term Borrowing Account are continuously appropriated to the respective state agencies for which the revenues that are pledged to pay the bonds were appropriated, for the purposes described in ORS 286A.045 (Borrowing for current expenses) (3)(c). Amounts appropriated under this subsection may not be taken into account in preparing budget estimates, plans or reports required to be prepared under ORS 291.201 (“Tax expenditure” defined for ORS 291.201 to 291.222) to 291.222 (Furnishing information and assistance to Governor-elect). [Formerly 293.175]
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