2021 Oregon Revised Statutes
Chapter 565 - Fairs and Exhibits
Section 565.545 - Profit and loss reports; triggering of appraisal.

(2) The council shall include information regarding the fiscal year net profit or loss from the conducting of the Oregon State Fair, the carrying out of fairground business operations and the operation of fairground properties and facilities in the annual report made under ORS 565.555. The report shall include the amounts for each use made of any net profit moneys.
(3) If the total balance of depository or investment accounts described in subsection (1) of this section exceeds $50 million, the council shall notify the Oregon Department of Administrative Services. Upon receiving notice from the council under this subsection, the department shall cause an appraisal to be made of the sale and long-term lease values of fairground properties and facilities owned by the department. The department shall also determine the payment schedule and outstanding amount of any obligations that have been incurred by state agencies for the purpose of paying for the construction, repair or remodeling of fairground properties and facilities owned by the department, including but not limited to any amounts owing in payment of revenue bonds or lottery bonds issued for the construction, repair or remodeling of the properties and facilities. The department shall provide the appraisal and obligation information to the council. The council shall include information regarding the balance of the depository and investment accounts described in subsection (1) of this section and the properties and facilities appraisal obligation information provided by the department in the annual report submitted by the council under ORS 565.555. [2013 c.492 §10; 2016 c.118 §7; 2017 c.485 §3]

Structure 2021 Oregon Revised Statutes