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City of Portland

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5.04.430 Sewer System Debt Proceeds Fund.

(Added by Ordinance No. 160515, effective March 28, 1988.)  The Sewer System Debt Proceeds Fund is hereby made a part of the Code of the City of Portland, Oregon, for the receipt of monies derived from the issuance of Sewer System debt.  Monies in the Sewer System Debt Proceeds Fund shall be transferred to the Sewer System Construction Fund for expenditure and to the Sewer System Operating Fund for reimbursement of costs associated with the issuance of debt and to the Sewer System Debt Redemption Fund for the retirement of debt.  Money in the Sewer System Debt Proceeds Fund may be commingled with other City money for investment purposes.