(1) The State Treasurer shall make payment of the principal of and the interest on any bond issued under ORS § 541.780 to 541.815 from the Water Development Administration and Bond Sinking Fund.

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(2) The State Treasurer shall compute and determine in January of each year, after the sale of bonds under ORS § 541.780 to 541.815, the amount of principal and interest which will fall due during such year on bonds then outstanding and unpaid and shall maintain or hold in the Water Development Administration and Bond Sinking Fund sufficient moneys to pay such maturing obligations. [1977 c.246 23,26]

[1977 c.246 § 24; repealed by 1981 c.660 § 18]

[1977 c.246 § 25; repealed by 1981 c.660 § 18]