Statutes, codes, and regulations
Oregon Revised Statutes
Title 30 - EDUCATION AND CULTUREChapter 327 - STATE FINANCING OF EARLY LEARNING AND ELEMENTARY AND SECONDARY EDUCATION
COMMON SCHOOL FUND
Section 327.455 - Record of purchases by Department of State Lands on foreclosures; resale or lease of land; disposition of proceeds

ORS § 327.455

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Current through 2024 Regular Session legislation effective June 6, 2024
Section 327.455 - Record of purchases by Department of State Lands on foreclosures; resale or lease of land; disposition of proceeds

The Director of the Department of State Lands shall keep a correct record of all purchases on foreclosures under ORS 327.450 with a description of the lands so purchased or acquired, and a statement of the fund to which they belong. Such lands shall be placed in the hands of the director and sold or leased under the direction of the department on the best terms obtainable, and the proceeds, to the amount of the principal of the loans, shall be paid into the fund from which the loans were made, and the excess paid to the interest account of that fund.

ORS 327.455