Oregon Statutes 367.595 – Setting aside sufficient moneys to pay maturing obligations
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The Department of Transportation shall compute and determine in January of each year, after the sale of bonds under ORS § 367.555 to 367.600, the amount of principal and interest that will fall due during such year on general obligation bonds then outstanding and unpaid and shall maintain or hold in the State Highway Fund sufficient moneys to pay such maturing obligations. [1973 c.698 § 10; 2003 c.201 § 22]
Terms Used In Oregon Statutes 367.595
- 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.