Oregon Revised Statutes Public Financial Administration § 293.728

(1) The Oregon Short Term Fund is established in the State Treasury as a commingled investment vehicle for investment funds and the moneys described in subsection (2) of this section. Interest earned by the Oregon Short Term Fund shall be credited to the participating investor funds or accounts in the fund in proportion to the amount invested.

(2) Unless a federal law, court order, settlement or similar agreement or business practice requires otherwise, moneys received by the State Treasurer that may not be discretely invested as provided in ORS 293.723 shall be deposited in the fund. Moneys that may be discretely invested as provided in ORS 293.723 may be deposited in the fund.

(3) Moneys in the fund may be transferred as provided in ORS 293.205 to 293.225. The State Treasurer is the officer in charge of the fund for purposes of ORS 293.220 and shall determine the interest rate to be charged until the moneys are retransferred to the fund. The interest rate may not be less than the rate specified in ORS 293.220.