(1) The State Treasurer may issue commemorative coins for sale to the public. Such coins shall commemorate Oregon history, people or resources and shall not constitute legal tender and may include the use of the state seal of Oregon under ORS § 186.023. If the State Treasurer decides to issue commemorative coins using the state seal, no private entity shall be authorized to use the state seal on any commemorative coins.

Terms Used In Oregon Statutes 390.245

  • Legal tender: coins, dollar bills, or other currency issued by a government as official money. Source: U.S. Mint
  • 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) All moneys received by the State Treasurer from the sale of commemorative coins shall be paid into the State Treasury and credited to a separate Commemorative Coin Account established within the State Parks and Recreation Department Fund. The State Treasurer is authorized to charge the account the reasonable expenses incurred in the design, production and sale of the coins.

(3) All moneys in the account, net of expenses charged, are appropriated continuously to the State Parks and Recreation Department for park land acquisition and development and for historical observances related to historical areas and sites. [1991 c.582 § 2]

 

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