Oregon Statutes 294.125 – Investment of funds authorized by order of governing body; limitations
(1) Subject to ORS § 294.040 and 294.135 to 294.155, the custodial officer of any county, municipality, school district or other political subdivision of this state may, after having obtained a written order from the governing body of the county, municipality, school district or other political subdivision, which order shall be spread upon the minutes or journal of the governing body, invest any sinking fund, bond fund or surplus funds belonging to that county, municipality, school district or other political subdivision in the bank accounts, classes of securities at current market prices, insurance contracts and other investments described in ORS § 294.035. However, notwithstanding any provision of ORS § 190.003 to 190.250, except as provided in ORS § 294.035:
Terms Used In Oregon Statutes 294.125
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
(a) No custodial officer of any political subdivision of this state may accept for investment or invest the funds of any other political subdivision of this state; and
(b) No such political subdivision may tender funds for investment to the custodial officer of any other such political subdivision.
(2) Subject to ORS § 294.040, 294.135 to 294.155 and subsection (1) of this section, the custodial officer of a port organized under ORS Chapter 777 or 778 may invest any sinking fund, bond fund or surplus funds belonging to the port in interest-bearing revenue bonds issued by an export trading corporation formed by the port under ORS § 777.755 to 777.800. A custodial officer of a port shall not invest in the aggregate more than $3 million in revenue bonds issued by an export trading corporation. [1981 c.880 § 5; 1983 c.200 § 17; 1995 c.245 § 6]