Bond proceeds credited to Small Scale Local Energy Project Loan Fund
- • use of funds
Except as provided in ORS 470.270 (General obligation refunding bonds), all moneys obtained from the sale of general obligation bonds under ORS 470.220 (Issuance of bonds) to 470.290 (Bond indebtedness limited to constitutional limit) and Article XI-J of the Oregon Constitution shall be credited by the State Treasurer to the Small Scale Local Energy Project Loan Fund. Those moneys shall be used only for the purposes stated in Article XI-J of the Oregon Constitution, including payment of the costs of issuing the bonds and of obtaining credit enhancement for the bonds, and making payments of interest on bonds issued pursuant to the provisions of ORS 470.220 (Issuance of bonds) to 470.290 (Bond indebtedness limited to constitutional limit) if there are insufficient funds in the Small Scale Local Energy Project Administration and Bond Sinking Fund to make the payments referred to in ORS 470.300 (Small Scale Local Energy Project Administration and Bond Sinking Fund) (1). Moneys loaned to municipal corporations but withheld by the State Department of Energy for security or to pay for future project costs may remain in the loan fund. Pending the use of the moneys in the loan fund for the proper purposes, the moneys may be invested in the manner provided by law. [1979 c.672 §18; 1987 c.365 §5; 2003 c.186 §69; 2005 c.201 §9; 2009 c.753 §68]
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.