Oregon Revised Statutes Chapter 565 § 565.539 — Council finances

Council finances. (1) Moneys received by the State Fair Council must be promptly deposited in accordance with ORS 295.001 to 295.108 into an account established by the council. (2) The council may invest any moneys the council receives. Except as provided in subsection (3) of this section, investments that the council makes are: (a) Limited to investments described in ORS 294.035; (b) Subject to the investment maturity date limitations described in ORS 294.135; and (c) Subject to the conduct prohibitions listed in ORS 294.145. (3) In addition to or in lieu of investments described in subsection (2) of this section, the council may invest in the investment pool described in ORS 294.805. For purposes of ORS 294.805 to 294.895, the state fair director is a local government official. (4) Except as provided in this subsection, the state fair director shall provide to each meeting of the council a financial report that includes, but need not be limited to, a summary of account and investment activity, and copies of any account or investment statements received from a bank, investment firm or other source since the previous report was provided. The council may waive the financial report requirement if the council is meeting less than 30 days after a meeting to which the state fair director provided a financial report. [2013 c.492 §9; 2019 c.587 §47]