1. (1) The Article XI-O Bond Administration Fund is established in the State Treasury, separate and distinct from the General Fund. Interest earned on the bond administration fund must be credited to the bond administration fund. Amounts credited to the bond administration fund are continuously appropriated to the Oregon Department of Administrative Services for payment of bond-related costs. The department shall credit to the bond administration fund:

   1. (a) Proceeds of Article XI-O bonds that were issued to pay bond-related costs that are not credited to the bond fund;
   2. (b) Amounts appropriated or otherwise provided by the Legislative Assembly for deposit in the bond administration fund; and
   3. (c) Amounts received in payment of a bill for bond-related costs that are not credited to the bond fund.
2. (2) The department may create separate accounts in the bond administration fund.

[Formerly 286.745]