(1) May be paid from the Jobs, Energy and Schools Fund or Energy Project Bond Loan Fund; or
(2) May be paid from the Small Scale Local Energy Project Administration and Bond Sinking Fund created under ORS 470.300 if the Director of the State Department of Energy and the State Treasurer find that:
(a) A cash flow projection for the sinking fund shows that, for the term of the sinking fund bonds outstanding at the time the Director of the State Department of Energy transfers the moneys, remaining moneys in the sinking fund, together with expected loan contract payments and fund earnings, will improve the financial basis of the program and will continue to be adequate to pay bond principal, interest, redemption premiums, if any, and administration costs; and
(b) The transfer will not create the need for issuance of any bonds. [2009 c.753 §47; 2011 c.467 §18]
Note: 470.715 was enacted into law by the Legislative Assembly but was not added to or made a part of ORS chapter 470 or any series therein by legislative action. See Preface to Oregon Revised Statutes for further explanation.