(1) The governing body of each county shall create a county school fund. (2) When a county governing body transfers federal forest reserve receipts under ORS 294.060 (4) subject to a condition that such moneys be used only for a purpose described in ORS 328.205 (1)(a) or (c), a school district receiving a share of such moneys may not use the moneys for any other purpose. [Amended by 1965 c.100 43; 1965 c.491 1; 1967 c.107 1; 1971 c.294 4; 1989 c.579 2; 1997 c.821 19; 2003 c.226 6]
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