2011 Oregon Revised Statutes
ORS Volume 11, Chapters 431 - 470
ORS Chapter 470
470.585 Energy Revenue Bond Repayment Fund; uses.

(1) The Energy Revenue Bond Repayment Fund is established in the State Treasury, separate and distinct from the General Fund. Interest earned by the Energy Revenue Bond Repayment Fund shall be credited to the fund. Moneys in the fund may be invested as provided in ORS 293.701 to 293.820. Moneys in the fund are continuously appropriated to the State Department of Energy for the payment of:

(a) Administrative expenses of the State Department of Energy and the Director of the State Department of Energy for energy efficiency and sustainable technology loans and small scale local energy program loans made from the proceeds of energy project revenue bonds, to the extent those expenses are not paid from the Energy Project Bond Loan Fund, the Energy Project Supplemental Fund or the Jobs, Energy and Schools Fund;

(b) Administrative expenses incurred by the State Treasurer under this chapter;

(c) Principal, interest and any redemption premiums of energy project revenue bonds;

(d) Net investment earnings on moneys loaned to municipal corporations from energy project revenue bonds under ORS 470.610 but withheld as provided in ORS 470.230; and

(e) Costs of issuing revenue bonds and obtaining credit enhancement for those revenue bonds.

(2) The Energy Revenue Bond Repayment Fund shall consist of moneys transferred to the fund from the Energy Project Bond Loan Fund and Energy Project Supplemental Fund by the State Treasurer as provided in ORS 470.610 (2). [2009 c.753 18; 2011 c.467 13]

(Financial Managers)