Chapter 811 Oregon Laws 2001

AN ACT

HB 3530

Relating to county fair funding; and declaring an emergency.

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

SECTION 1. The Legislative Assembly finds and declares that financial support of county fairs will result in economic development for areas where fairgrounds are located by promoting, expanding or preventing the decline of businesses and that the use of the net proceeds from the operation of the Oregon State Lottery to fund county fairs is an appropriate use of state lottery funds under section 4, Article XV of the Oregon Constitution, and ORS 461.540.

SECTION 2. (1) Subject only to the availability of unobligated net lottery proceeds, there is allocated from the Administrative Services Economic Development Fund to the County Fair Account created under ORS 565.445 an amount equal to one percent of the net proceeds from the Oregon State Lottery, but not to exceed $1.55 million annually, adjusted biennially pursuant to the change in the Consumer Price Index, as defined in ORS 327.006, between January 1, 2001, and January 1 immediately preceding commencement of the biennium.

(2) The allocation of moneys from the Administrative Services Economic Development Fund under this section is subject to the requirements in section 4, Article XV of the Oregon Constitution, for deposit of 15 percent of the net proceeds from the Oregon State Lottery into the Education Endowment Fund and into the Parks and Natural Resources Fund and shall be made only after satisfaction or payment of:

(a) Amounts allocated to Westside lottery bonds issued under ORS 391.140 or to the reserves or any refunding related to the Westside lottery bonds in accordance with the priority for allocation and disbursement established by ORS 391.130;

(b) All liens, pledges or other obligations relating to lottery bonds or refunding lottery bonds due or payable during the year for which an allocation is to be made; and

(c) Amounts required by any other pledges of, or liens on, net proceeds from the Oregon State Lottery.

SECTION 3. The County Fair Commission shall make an annual distribution each January of the unexpended balance of moneys credited to the County Fair Account under section 2 of this 2001 Act, using the merit formula determined by the commission pursuant to ORS 565.425.

SECTION 4. This 2001 Act being necessary for the immediate preservation of the public peace, health and safety, an emergency is declared to exist, and this 2001 Act takes effect July 1, 2001.

Approved by the Governor July 19, 2001

Filed in the office of Secretary of State July 19, 2001

Effective date July 19, 2001

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