Chapter 261 Oregon Laws 2001

AN ACT

HB 3208

Relating to Health, Housing, Educational and Cultural Facilities Authority; creating new provisions; and amending ORS 289.100 and 289.130.

Be It Enacted by the People of the State of Oregon:

SECTION 1. ORS 289.100 is amended to read:

289.100. (1) There is created a body politic and corporate to be known as the [Health, Housing, Educational and Cultural] Oregon Facilities Authority. The authority is constituted a public instrumentality, and the exercise by the authority of the powers conferred by this chapter shall be considered and held to be the performance of an essential public function.

(2) The authority shall consist of five members who shall be residents of this state, not more than three of whom shall be members of the same political party. The State Treasurer shall appoint the members. At least one of the members shall be a person knowledgeable in the field of state and municipal finance. At least one of the members shall be a person knowledgeable in the building construction field.

(3) Upon the expiration of the term of any member, a successor shall be appointed for a term of four years. The State Treasurer shall fill any vacancy for the remainder of the unexpired term.

SECTION 2. ORS 289.130 is amended to read:

289.130. The [Health, Housing, Educational and Cultural] Oregon Facilities Authority Account is created separate and distinct from the General Fund. The account is an investment account for purposes of ORS 293.701 to 293.820. Interest on the account shall be credited to and deposited in the account. The account is continuously appropriated to the [Health, Housing, Educational and Cultural] Oregon Facilities Authority and may be used to meet administrative expenses of the authority.

SECTION 3. (1) The amendments to ORS 289.100 by section 1 of this 2001 Act are intended to change the name of the Health, Housing, Educational and Cultural Facilities Authority to the Oregon Facilities Authority.

(2) For the purpose of harmonizing and clarifying statute sections published in Oregon Revised Statutes, the Legislative Counsel may substitute for words designating the Health, Housing, Educational and Cultural Facilities Authority, wherever they occur in Oregon Revised Statutes, other words designating the Oregon Facilities Authority.

SECTION 4. (1) The amendments to ORS 289.130 by section 2 of this 2001 Act are intended to change the name of the Health, Housing, Educational and Cultural Facilities Authority Account to the Oregon Facilities Authority Account.

(2) For the purpose of harmonizing and clarifying statute sections published in Oregon Revised Statutes, the Legislative Counsel may substitute for words designating the Health, Housing, Educational and Cultural Facilities Authority Account, wherever they occur in Oregon Revised Statutes, other words designating the Oregon Facilities Authority Account.

Approved by the Governor May 30, 2001

Filed in the office of Secretary of State May 30, 2001

Effective date January 1, 2002

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