(1) The Elliott State Research Forest Account is established in the State Treasury, separate and distinct from the General Fund. Interest earned by the account shall be credited to the account. (2) The account shall consist of all moneys deposited in the account. Moneys in the account may be invested as provided in ORS 293.701 to 293.857. Moneys in the account are continuously appropriated to the Department of State Lands for carrying out the provisions of ORS 273.830 and 273.835. (3) Moneys generated from owning or operating the Elliott State Research Forest, including from any sale of forest products, carbon or ecosystem services or credits or easement, and any other revenues related to the forest, shall be deposited in the account. (4) The department may receive gifts, grants, bequests, endowments and donations of moneys from public and private sources for the purpose of contributing to the management and enhancement of the forest, including for activities such as recreation, education, interpretation, research and monitoring, cultural resources management and habitat improvement. (5) The department may apply for, accept and utilize grants from any source, including federal, state or local governments or private entities, to further the purposes set forth in ORS 273.830 and 273.835. (6) The department shall deposit moneys received under subsection (4) or (5) of this section in the account. The department may expend moneys received under subsection (4) or (5) of this section only for purposes specified in the gift, grant, bequest, endowment or donation. If no purpose is specified, the department may use the moneys for the management and enhancement of the forest in a manner consistent with the purposes set forth in ORS 273.830 and 273.835. (7) The department shall keep a record of all moneys deposited in the account. The record shall indicate the sources of moneys and the individual activity or program against which each withdrawal from the account is charged. SETTLEMENT OF TITLE TO CERTAIN LANDS IN CLATSOP COUNTY
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