Oregon Statutes 396.525 – Military Department Construction Account; disposition of moneys received from sale of real property
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(1) The Military Department Construction Account, separate and distinct from the General Fund, is established in the State Treasury. Moneys received by the State of Oregon in payment for military department real property sold shall be deposited in the Military Department Construction Account. All moneys in the account are appropriated continuously and shall be used by the military department for capital construction expenses.
Terms Used In Oregon Statutes 396.525
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
- State Treasury: includes those financial assets the lawful custody of which are vested in the State Treasurer and the office of the State Treasurer relating to the custody of those financial assets. See Oregon Statutes 174.100
(2) Interest received on deposits credited to the Military Department Construction Account shall accrue to and become part of the Military Department Construction Account. [1961 c.454 § 34; 1973 c.297 § 2; 1989 c.254 § 1]