The Oregon Ocean Science Trust shall:
(1) Promote peer-reviewed, competitive research and monitoring that leads to increased knowledge and understanding of Oregon’s ocean and coastal resources;
(2) Promote innovative, collaborative, community-oriented, multi-institutional approaches to research and monitoring related to Oregon’s ocean and coastal resources;
(3) Enhance this state’s capacity for peer-reviewed scientific ocean and coastal research; and
(4) Subject to available funding, establish and execute a competitive grant program to conduct research and monitoring related to Oregon’s ocean and coastal resources.