A city shall report to the Oregon Housing Stability Council and the Legislative Assembly, not later than February 1 of each odd-numbered year on the disposition within that city of the proceeds of bonds issued for the purposes of making mortgage loans under ORS 280.425 (3) and 280.430 (5). The report shall, as a minimum, identify the population, income levels and areas served by the housing program, the length of residence in dwellings purchased under the program and the degree to which the city considers the programs initial objectives have been achieved. The report shall be reviewed by the Oregon Housing Stability Council and the council shall make its comments on the report known to the city and the Legislative Assembly.
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