Oregon Statutes 367.745 – Setting aside sufficient moneys to pay maturing bonds
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The Department of Transportation shall compute and determine in January of each year, after the sale of bonds under ORS § 367.700 to 367.750, the amount of bond debt service that will fall due during such year on bonds then outstanding and unpaid and shall maintain or hold in the State Highway Fund sufficient moneys to pay such maturing obligations. [1975 c.211 § 10; 2003 c.201 § 34]
Terms Used In Oregon Statutes 367.745
- Bond: means a contractual undertaking or an instrument to borrow money including, but not limited to, a bond, a note, an obligation, a loan agreement, a financing lease, a financing agreement or other similar instrument or agreement. See Oregon Statutes 367.010