Oregon Statutes 407.495 – Oregon War Veterans Fund; sources; uses
(1) The money arising from the sale of each issue of bonds authorized under Article XI-A, section 2, 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.
Terms Used In Oregon Statutes 407.495
- Acquisition: means the purchase, improvement or refinancing of a home or farm or the payment of down payments or closing costs for such purposes. See Oregon Statutes 407.085
- Deed: The legal instrument used to transfer title in real property from one person to another.
- Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC
- 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) 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 chapter.
(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 chapter;
(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 chapter.
(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. [Formerly 407.160; 1987 c.652 § 10; 1991 c.220 § 11; 2005 c.625 § 49; 2019 c.223 § 15]