2017 ORS 530.147¹
Forest Development Revenue Bond Fund

(1) The Forest Development Revenue Bond Fund is established separate and distinct from the General Fund. Interest earned by the Forest Development Revenue Bond Fund shall be credited to the fund. Moneys in the fund may be invested as provided in ORS 286A.025 (Issuance and sale of bonds) and 293.701 (Definitions for ORS 293.701 to 293.857) to 293.857 (Separate accounts for each local government). All moneys in the fund are continuously appropriated to the State Board of Forestry for the purposes of paying bond-related costs when due on the revenue bonds issued under ORS 530.140 (Forest development revenue bonds) on or after July 28, 2009.

(2) The Forest Development Revenue Bond Fund may be credited with:

(a) Moneys deposited in the fund from the State Forestry Department Account, to the extent that the State Forestry Department allocates proceeds from the sale of revenue bonds issued on or after July 28, 2009, under ORS 530.140 (Forest development revenue bonds) to the payment of bond-related costs;

(b) Proceeds from the disposal of lands acquired with revenue bonds that were issued on or after July 28, 2009, under ORS 530.140 (Forest development revenue bonds);

(c) Proceeds from the disposal of forest products, as defined in ORS 532.010 (Definitions for ORS 532.010 to 532.140), minerals or other forest-related values derived from the lands acquired with revenue bonds that were issued on or after July 28, 2009, under ORS 530.140 (Forest development revenue bonds); and

(d) Gifts, grants or any other unrestricted moneys paid to the State Forestry Department or the State Board of Forestry or appropriated by the Legislative Assembly that may be used for the purpose set forth in this section.

(3) The board or the State Forester may make covenants related to, or pledge moneys deposited in, the fund that the board or forester, after consultation with the State Treasurer, determines to be necessary or desirable for the repayment of revenue bonds and the payment of bond-related costs. [2009 c.831 §4]

Notes of Decisions

Where county transferred forest land that it could have kept and administered for its own benefit to state “in considera­tion of the pay­ment to the county of the percentage of revenue derived from such lands,” county is entitled to enforce that claim and state cannot avoid its obliga­tion to county by conveying the prop­erty to third per­son. Tillamook Co. v. State Board of Forestry, 302 Or 404, 730 P2d 1214 (1986)

Chapter 530

Law Review Cita­tions

42 EL 1275 (2012)

1 Legislative Counsel Committee, CHAPTER 530—State Forests; Community Forests, https://­www.­oregonlegislature.­gov/­bills_laws/­ors/­ors530.­html (2017) (last ac­cessed Mar. 30, 2018).
 
2 Legislative Counsel Committee, Annotations to the Oregon Revised Stat­utes, Cumulative Supplement - 2017, Chapter 530, https://­www.­oregonlegislature.­gov/­bills_laws/­ors/­ano530.­html (2017) (last ac­cessed Mar. 30, 2018).
 
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.