383.215 Collection and use of federal transportation funds
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/or/ors-chapter-383/tollways/financing/383-215·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
383.215 Collection and use of federal transportation funds.
(1)If allowed by federal law, the Department of Transportation may use federal transportation funds for the following purposes:
(a)For deposit into one or more special funds or accounts that may be pledged to secure payment of the tollway project revenue bonds issued under ORS 383.200.
(b)For payment of the costs of tollway projects.
(c)For reimbursement to the department of moneys previously spent on tollway projects.
(2)The department may request the United States government to deposit federal transportation funds directly with a trustee for the holders of tollway project revenue bonds to secure payment of the bonds. [2021 c.630 §149]