Oregon Statutes 341.321 – Reserve fund; establishment and termination procedures
Notwithstanding any other statutory provisions, any board of education of a community college district by resolution may establish a reserve fund by making transfers from the district‘s general fund. Transfers to the reserve fund shall be included in the district budget prepared and published in accordance with ORS § 294.305 to 294.565. If at any time conditions arise which dispense with the necessity for further transfers to or expenditures from a fund established pursuant to this section, the district board shall so declare by resolution. The resolution shall order the balance remaining in such fund to be transferred to the general fund of the district and shall declare the reserve fund closed. [1975 c.770 § 25; 1995 c.67 § 16]
Terms Used In Oregon Statutes 341.321
- Board: means the board of education of a community college district. See Oregon Statutes 341.005
- Community college district: includes a community college service district. See Oregon Statutes 341.005
- district: means a district formed under this chapter to operate one or more community colleges or to secure educational services available at a community college. See Oregon Statutes 341.005
[1971 c.513 § 23; 1973 c.796 § 53; repealed by 1983 c.83 § 114]
(Nomination and Election)