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Oregon Revised Statutes Privileges and Benefits of Veterans and Service Personnel § 407.495

Current as of January 01, 2023 | Updated by Findlaw Staff

(1) The money arising from the sale of each issue of bonds authorized under section 2, Article XI-A, of the Oregon Constitution, shall be deposited in the State Treasury and be credited to a special fund separate and distinct from the General Fund, to be known as the Oregon War Veterans' Fund; which fund hereby is appropriated for the purpose of carrying out the provisions of this section and ORS 407.115, 407.125, 407.165, 407.205, 407.275, 407.415 and 407.515 to 407.565 and to purchase bonds issued for the purposes of such provisions. With the approval of the Department of Veterans' Affairs, the moneys in the fund not immediately required for loaning may be invested as provided in ORS 293.701 to 293.857. The earnings from such investments shall inure to the Oregon War Veterans' Fund.

(2) In addition to the money arising from the sale of such bonds, the Oregon War Veterans' Fund shall also consist of:

(a) All moneys received as payments on principal and interest of loans made under ORS 407.125;

(b) All moneys received as accrued interest upon bonds sold;

(c) All moneys derived from tax levies provided for in ORS 291.445;

(d) All moneys derived from the sale, rental or administration of property acquired by foreclosure or other proceeding, or deed;

(e) All moneys received as interest earned on the investment of moneys in the Oregon War Veterans' Fund;

(f) All moneys received as proceeds from the sale of refunding bonds; and

(g) All other moneys accruing under this section and ORS 407.115, 407.125, 407.165, 407.205, 407.275, 407.415, 407.425, 407.435, 407.555 and 407.565.

(3) All moneys in the Oregon War Veterans' Fund are continuously appropriated to the Department of Veterans' Affairs for the following purposes:

(a) To carry out the provisions of this section and ORS 407.115, 407.125, 407.165, 407.205, 407.275, 407.415, 407.425, 407.435, 407.555 and 407.565;

(b) To purchase bonds issued for the purposes of such provisions; and

(c) Except for moneys derived from the sale of bonds or from tax levies, for payment of expenses of the administration of this section and ORS 407.115, 407.125, 407.165, 407.205, 407.275, 407.415, 407.425, 407.435, 407.555 and 407.565.

(4) With the approval of the department, the moneys in the Oregon War Veterans' Fund not immediately required to provide loans for the acquisition of farms and homes may be invested as provided in ORS 293.701 to 293.857. The earnings from such investments shall be credited to the Oregon War Veterans' Fund.

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Cite this article: FindLaw.com - Oregon Revised Statutes Privileges and Benefits of Veterans and Service Personnel § 407.495 - last updated January 01, 2023 | https://codes.findlaw.com/or/title-33-privileges-and-benefits-of-veterans-and-service-personnel/or-rev-st-sect-407-495/

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