The money realized from the sale of each issue of bonds shall be credited to a special fund in the State Treasury, separate and distinct from the General Fund, to be designated the Elderly and Disabled Housing Fund. Moneys in the Elderly and Disabled Housing Fund are continuously appropriated to the Housing and Community Services Department for the purpose of carrying out the provisions of ORS 456.515 to 456.828. Moneys in the fund may not be used for any other purpose, except that the moneys, with the approval of the State Treasurer, may be invested as provided by ORS 293.701 to 293.857 and the earnings from the investments shall be deposited into the Elderly and Disabled Housing Sinking Fund maintained under ORS 456.543.
‹ Prev All Oregon sections Next ›
Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.