2015 ORS 294.080¹
Disposition of interest earned on funds held by county treasurer

(1) Except as provided in subsections (2) and (3) of this section, the county treasurer shall credit to the general fund of the county all interest received from any investment made from the general cash balance of any funds in the hands of the county treasurer. If the entire investment is made from a specific fund, however, the treasurer shall credit the interest to the fund from which the investment was made.

(2) The county fiscal officer of a community college district, as defined in ORS 341.005 (Definitions for chapter), shall credit to the general fund of the district all interest received from any investment made by funds in the hands of the county fiscal officer. If the entire investment is made from a specific fund, however, the county fiscal officer shall credit the interest to the fund from which the investment was made.

(3) Interest earned by investment of any moneys received by the county treasurer from any source, which moneys have been designated for a particular municipal corporation as defined in ORS 294.311 (Definitions for ORS 294.305 to 294.565), shall be credited to the account of the particular municipal corporation and not to any county fund. [1963 c.316 §1; 1971 c.513 §54; 1979 c.762 §8; 1997 c.308 §33]

Notes of Decisions

Under this sec­tion, county, in commingling federal forest revenues in county road fund with other county monies for purpose of invest­ment, could not credit to county general fund all interest earned from commingled invest­ments to county general fund. Lane County v. Paulus, 57 Or App 297, 644 P2d 616 (1982), Sup Ct review denied

Interest earned from invest­ment of monies designated for particular municipal corpora­tions must be credited to account of the particular municipal corpora­tions. School Dist. No. 1 v. Multnomah County, 9 OTR 371 (1983)

Legislature did not intend that county have unbridled discre­tion to divert arbitrarily interest earned on funds that a statute specifically designates as belonging to other public bodies; trial court correctly ordered mineral lease interest distributed to plaintiff school district rather than placed in county general fund. State ex rel School Dist. 13 v. Columbia County, 66 Or App 237, 674 P2d 608 (1983), Sup Ct review denied

Dispute over whether interest on tax moneys held in county treasurers unsegregated account is to be credited to fund of municipal corpora­tion comes within circuit court jurisdic­tion and not within tax court jurisdic­tion. Clackamas Co. Ed. Serv. Dist. v. Clackamas Co., 86 Or App 259, 739 P2d 587 (1987), Sup Ct review denied

Moneys in county treasurers unsegregated account are designated for particular municipal corpora­tion as of time of deposit, and not as of time that distribu­tion state­ment under ORS 311.395 (Periodic statements of tax collections) is prepared. Clackamas Co. Ed. Serv. Dist. V. Clackamas Co., 86 Or App 259, 739 P2d 587 (1987), Sup Ct review denied

This sec­tion did not create vested right in defendant taxing districts to interest earned on unsegregated tax accounts and legislature had power to retroactively divert those funds. Jackson Co. v. Jackson Ed. Service Dist., 90 Or App 299, 752 P2d 1224 (1988), Sup Ct review denied

Atty. Gen. Opinions

Constitu­tionality of crediting to the county general fund interest earned from invest­ment of unsegregated money held by county treasurer, (1971) Vol 35, p 1020


1 Legislative Counsel Committee, CHAPTER 294—County and Municipal Financial Administration, https://­www.­oregonlegislature.­gov/­bills_laws/­ors/­ors294.­html (2015) (last ac­cessed Jul. 16, 2016).
 
2 Legislative Counsel Committee, Annotations to the Oregon Revised Stat­utes, Cumulative Supplement - 2015, Chapter 294, https://­www.­oregonlegislature.­gov/­bills_laws/­ors/­ano294.­html (2015) (last ac­cessed Jul. 16, 2016).
 
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.