(1) The State Treasurer shall make payment of the principal of and the interest and redemption premium, if any, on any general obligation bond issued under ORS § 470.220 to 470.290 from the Small Scale Local Energy Project Administration and Bond Sinking Fund.

Terms Used In Oregon Statutes 470.280

  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • Small scale local energy project: means any of the following:

    (a) A system, mechanism or series of mechanisms located primarily in Oregon that directly or indirectly uses or enables the use of, by the applicant or another person, renewable resources including, but not limited to, solar, wind, geothermal, biomass, waste heat or water resources to produce energy, including heat, electricity and substitute fuels, to meet a local community or regional energy need in this state. See Oregon Statutes 470.050

(2) The State Treasurer shall compute and determine in January of each year, after the sale of bonds under ORS § 470.220 to 470.290 and Article XI-J of the Oregon Constitution, the amount of principal, interest and redemption premiums that will fall due during the year on bonds then outstanding and unpaid and shall maintain or hold in the sinking fund sufficient moneys to pay such maturing obligations. [1979 c.672 21,24; 2005 c.201 § 12; 2009 c.753 § 71]

 

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