General obligation bond repayment from sinking fund
(1) The State Treasurer shall make payment of the principal of and the interest and redemption premium, if any, on any general obligation bond issued under ORS 470.220 (Issuance of bonds) to 470.290 (Bond indebtedness limited to constitutional limit) from the Small Scale Local Energy Project Administration and Bond Sinking Fund.
(2) The State Treasurer shall compute and determine in January of each year, after the sale of 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, the amount of principal, interest and redemption premiums that will fall due during the year on bonds then outstanding and unpaid and shall maintain or hold in the sinking fund sufficient moneys to pay such maturing obligations. [1979 c.672 §§21,24; 2005 c.201 §12; 2009 c.753 §71]
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