Oregon Revised Statutes Public Financial Administration § 294.820

If the State Treasurer and the Oregon Investment Council terminate the operation of all investment pools created under ORS 293.863, public bodies may establish by written agreement under ORS chapter 190 one or more pools for the investment of proceeds for the purposes identified in ORS 293.861. In establishing one or more such pools, the participating public bodies may exercise those powers conferred on the State Treasurer and the Oregon Investment Council by ORS 293.863.