Repayment of moneys to Water Development Administration and Bond Sinking Fund
Any water developer that enters into a contract with the Water Resources Commission for construction and repayment as provided in ORS 541.730 (Loan contract) or 541.745 (Remedies of commission when water developer fails to comply with contract) may obtain moneys for repayment to the Water Development Administration and Bond Sinking Fund under the contract in the same manner as other moneys are obtained for other authorized purposes. The commission may also provide by contract or otherwise, for the construction, operation and maintenance of a water development project until the project is assumed by such new water developer. Moneys in the Water Development Fund may be used for such construction, operation and maintenance, and if so used, shall be repaid to the Water Development Administration and Bond Sinking Fund by the contracting water developer. [1977 c.246 §10; 1985 c.673 §120]
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