2017 ORS 88.740¹
Investment of surplus moneys in Oregon War Veterans’ Bond Sinking Account

(1) The Department of Veterans’ Affairs is authorized, in whatever manner the department considers advisable and to the extent necessary to carry out the provisions of ORS 88.710 (“Lien” defined) to 88.740 (Investment of surplus moneys in Oregon War Veterans’ Bond Sinking Account), to use the surplus moneys in the Oregon War Veterans’ Bond Sinking Account, other than the moneys therein which are derived from tax levies and sales of refunding bonds, that are earnings in excess of the amount required to amortize the bonded indebtedness incurred under the authority of section 1, Article XI-A of the Oregon Constitution, and ORS 407.115 (Administration of loan program), 407.125 (Loans to qualified person), 407.165 (Authority to hold certain funds received from borrower), 407.205 (Application for loan), 407.275 (Terms of loan to veteran and transferee), 407.415 (Issuance of bonds), 407.495 (Oregon War Veterans’ Fund), 407.515 (Oregon War Veterans’ Bond Sinking Account), 407.555 (Auditing and payment of claims) and 407.565 (Revolving account).

(2) The property acquired under ORS 88.710 (“Lien” defined) to 88.740 (Investment of surplus moneys in Oregon War Veterans’ Bond Sinking Account) shall represent an investment of the Oregon War Veterans’ Bond Sinking Account and all moneys received by the department from the sale, lease or other disposition of any property shall be deposited in the Oregon War Veterans’ Bond Sinking Account.

(3) The department may pay to the State Treasurer, to be deposited in the General Fund available for general governmental expenses:

(a) An amount equal to the balance owing on any existing real estate contract arising out of the sale of property by the department which was an investment of the General Fund pursuant to ORS 88.710 (“Lien” defined) to 88.740 (Investment of surplus moneys in Oregon War Veterans’ Bond Sinking Account), and upon such payment the interest represented by the real estate contract shall represent an investment of the Oregon War Veterans’ Bond Sinking Account.

(b) An amount equal to the General Fund moneys expended for the acquisition of presently unsold properties pursuant to ORS 88.710 (“Lien” defined) to 88.740 (Investment of surplus moneys in Oregon War Veterans’ Bond Sinking Account), and upon such payment the properties shall represent an investment of the Oregon War Veterans’ Bond Sinking Account. [1967 c.211 §8 (enacted in lieu of 88.730); 1987 c.652 §16; 2005 c.625 §69]

CHAPTER 89

[Reserved for expansion]

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Chapter 88

Notes of Decisions

Foreclosure is governed by statutes which do not require court to parti­tion prop­erty before sale. John Hancock Mutual Life Ins. Co. v. Arnold, 85 Or App 140, 735 P2d 1270 (1987), Sup Ct review denied

Where mortgagor’s grantee redeems prop­erty, redeemed prop­erty is subject to all junior liens on prop­erty existing prior to foreclosure. Franklin v. Spencer, 309 Or 476, 789 P2d 643 (1990)

Atty. Gen. Opinions

Impair­ment of mortgagee’s remedy of foreclosure where local planning authorities, under local parti­tion ordinance, deny permission to foreclose mortgage, (1978) Vol 38, p 2148

1 Legislative Counsel Committee, CHAPTER 88—Foreclosure of Mortgages and Other Liens, https://­www.­oregonlegislature.­gov/­bills_laws/­ors/­ors088.­html (2017) (last ac­cessed Mar. 30, 2018).
 
2 Legislative Counsel Committee, Annotations to the Oregon Revised Stat­utes, Cumulative Supplement - 2017, Chapter 88, https://­www.­oregonlegislature.­gov/­bills_laws/­ors/­ano088.­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.