Oregon Statutes 286A.808 – Oregon School Capital Improvement Matching Account; purposes
(1) Pursuant to Article XI-P, section 4, of the Oregon Constitution, the Oregon School Capital Improvement Matching Account is established in the State Treasury, separate and distinct from the General Fund.
Terms Used In Oregon Statutes 286A.808
- State Treasury: includes those financial assets the lawful custody of which are vested in the State Treasurer and the office of the State Treasurer relating to the custody of those financial assets. See Oregon Statutes 174.100
(2) Amounts in the Oregon School Capital Improvement Matching Account may be invested as provided in ORS § 286A.025 (2)(g), and interest earned on moneys in the account must be credited to the account.
(3) Notwithstanding ORS § 286A.806, the Oregon School Capital Improvement Matching Account consists of net proceeds of Article XI-P bonds and other moneys made available by the Legislative Assembly for purposes described in ORS § 286A.798 (1) and the budget authorization for bond issuance established under ORS § 286A.035 for the Department of Education.
(4) Moneys in the Oregon School Capital Improvement Matching Account are continuously appropriated to the Department of Education for the purposes described in ORS § 286A.801. [2015 c.783 § 4]
286A.808 was enacted into law by the Legislative Assembly but was not added to or made a part of ORS Chapter 286A or any series therein by legislative action. See Preface to Oregon Revised Statutes for further explanation.