(1) The Parks Donation Trust Fund is established as a fund in the State Treasury. All gifts or donations of money received by the State Parks and Recreation Department shall be deposited with the State Treasurer and credited by the treasurer to the fund. The treasurer may establish subaccounts in the fund established in this section if the treasurer determines that the terms of a gift or donation require a separate subaccount. Any interest or other income derived from the depositing or other investing of the fund shall be credited monthly to the fund except that interest or other income attributable to a subaccount shall be credited to that subaccount.

Terms Used In Oregon Statutes 390.153

  • Commission: means the State Parks and Recreation Commission. See Oregon Statutes 390.005
  • Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
  • 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) Moneys in the Parks Donation Trust Fund and in any subaccount of the fund are continuously appropriated to the State Parks and Recreation Department for the purposes specified in the gift or donation or, if no specific purpose is specified, for park and recreation purposes determined by the State Parks and Recreation Commission. [1987 c.181 § 1; 1989 c.904 § 12]

 

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