2017 ORS 530.280¹
State Forestry General Obligation Bond Fund

(1) The State Forestry General Obligation Bond Fund is established separate and distinct from the General Fund. Interest earned by the State Forestry General Obligation 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 State Forestry General Obligation Bond Fund are continuously appropriated to the State Forestry Department for the purposes of paying bond-related costs when due on the general obligation bonds issued under Article XI-E of the Oregon Constitution. However, an agreement for exchange of interest rates may not be paid from moneys derived under paragraph (a) of this subsection or from General Fund moneys appropriated under paragraph (d) of this subsection to fulfill a pledge of the full faith and credit of the state set forth in Article XI-E of the Oregon Constitution. The State Forestry General Obligation Bond Fund shall consist of the following:

(a) All moneys derived from taxes levied under ORS 291.445 (Certificate of state agency that issues general obligation bonds);

(b) All moneys derived from the sale, exchange or use of land acquired pursuant to ORS 530.240 (Use of proceeds from general obligation bonds);

(c) Except as provided in ORS 530.115 (Disposition of certain moneys described in ORS 530.110), all moneys received from the disposal of forest products created through expenditures of moneys available under ORS 530.210 (Definitions for ORS 530.210 to 530.280) to 530.280 (State Forestry General Obligation Bond Fund) for reforestation; and

(d) Any moneys that may be appropriated to the fund by the Legislative Assembly.

(2) The moneys referred to in subsection (1)(b) and (c) of this section shall be set aside for State Forestry General Obligation Bond Fund purposes until there are no longer any bonds issued under ORS 530.210 (Definitions for ORS 530.210 to 530.280) to 530.280 (State Forestry General Obligation Bond Fund) outstanding. If no bonds issued under ORS 530.210 (Definitions for ORS 530.210 to 530.280) to 530.280 (State Forestry General Obligation Bond Fund) are outstanding, the moneys described in subsection (1)(b) and (c) of this section shall be disposed of using the distribution formula described in ORS 530.115 (Disposition of certain moneys described in ORS 530.110) (1)(a) to (c). [Amended by 1955 c.115 §2; 1957 c.83 §21; 1967 c.335 §52; 1969 c.428 §4; 1991 c.220 §14; 1999 c.59 §168; 2009 c.831 §16]

Atty. Gen. Opinions

Loans from bond sales or other obliga­tions for rehabilita­tion and reforesting privately owned lands, (1974) Vol 36, p 767

Law Review Cita­tions

22 EL 797 (1992)

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.