Oregon Code § 294.135·Enacted ·Last updated March 01, 2026
Statute Text
Investment maturity dates.
(1) An investment made by a custodial officer under ORS 294.035 (3)(a) to (f),
(h) and (i) or 294.125 may not exceed a maturity of 18 months or the date of
anticipated use of the funds by the county, municipality, school district or
other political subdivision to which the funds belong, whichever period is
shorter. However:
(a) The custodial
officer may make investments having a maturity longer than 18 months when the
governing body of the county, municipality, school district or other political
subdivision to which the funds belong has adopted a written investment policy that,
prior to adoption, was submitted to the Oregon Short Term Fund Board for review
and comment to the governing body, that includes guidelines concerning maximum
investment maturity dates and that provides by its terms for readoption not
less than annually; or
(b) When the
funds in question are being accumulated for an anticipated use that will occur
more than 18 months after the funds are invested, then, upon the approval of
the governing body of the county, municipality, school district or other
political subdivision, the maturity of the investment or investments made with
the funds may occur when the funds are expected to be used.
(2) The maximum
term of any repurchase agreement transaction may not exceed 90 days. [1981
c.880 §§6,8; 1987 c.389 §1; 1989 c.303 §1; 1995 c.245 §7; 2003 c.41 §1; 2005
c.443 §24; 2009 c.821 §30]