2011 Oregon Revised Statutes
ORS Volume 9, Chapters 326 - 365
ORS Chapter 341
341.759 Clatsop Community College Facilities Account.

(1) There is established in the General Fund an account to be known as the Clatsop Community College Facilities Account. Moneys in the account shall be used for the purposes described in Article XI-G of the Oregon Constitution for the Clatsop Community College District.

(2) The account may consist of the following moneys that have been deposited in the account by the Department of Community Colleges and Workforce Development at the request of the Clatsop Community College District for the purposes listed in subsection (1) of this section:

(a) Moneys from federal and local governments;

(b) Donations;

(c) Community College Support Fund moneys transferred to the account by the department at the request of the community college district;

(d) Building reserve funds of the community college district transferred to the department from the community college district; and

(e) Proceeds from the sale of bonds issued by the community college district.

(3) Interest earned on moneys in the account shall be credited to the account.

(4) The account may not be credited with more than $11,500,000 in donations, Community College Support Fund moneys, proceeds from the sale of bonds, building reserve funds, federal and local government funds and interest.

(5) Moneys in the account are continuously appropriated to the department and may be transferred to the Community College Capital Construction Fund for the purpose of making distributions to the Clatsop Community College District for the purposes listed in subsection (1) of this section. [2005 c.787 29; 2008 c.15 16; 2011 c.2 17]