ORS 286A.808: Oregon School Capital Improvement Matching Account; purposes.

(1) Pursuant to Article XI-P, section 4, of the Oregon Constitution, the Oregon School Capital Improvement Matching Account is established in the State Treasury, separate and distinct from the General Fund.

      (2) Amounts in the Oregon School Capital Improvement Matching Account may be invested as provided in ORS 286A.025 (2)(g), and interest earned on moneys in the account must be credited to the account.

      (3) Notwithstanding ORS 286A.806, the Oregon School Capital Improvement Matching Account consists of net proceeds of Article XI-P bonds and other moneys made available by the Legislative Assembly for purposes described in ORS 286A.798 (1) and the budget authorization for bond issuance established under ORS 286A.035 for the Department of Education.

      (4) Moneys in the Oregon School Capital Improvement Matching Account are continuously appropriated to the Department of Education for the purposes described in ORS 286A.801.