71st OREGON LEGISLATIVE ASSEMBLY--2001 Regular Session
NOTE: Matter within { + braces and plus signs + } in an
amended section is new. Matter within { - braces and minus
signs - } is existing law to be omitted. New sections are within
{ + braces and plus signs + } .
LC 2840
A-Engrossed
House Bill 2683
Ordered by the House March 26
Including House Amendments dated March 26
Sponsored by COMMITTEE ON STREAM RESTORATION AND SPECIES RECOVERY
SUMMARY
The following summary is not prepared by the sponsors of the
measure and is not a part of the body thereof subject to
consideration by the Legislative Assembly. It is an editor's
brief statement of the essential features of the measure.
Allows issuance of lottery bonds to fund Columbia River estuary
restoration projects. { + Prohibits Director of Economic and
Community Development Department from requesting issuance of
bonds until Congress and state of Washington have authorized
their shares of study and project costs. + }
A BILL FOR AN ACT
Relating to Columbia River estuary restoration; amending ORS
285B.551.
Be It Enacted by the People of the State of Oregon:
SECTION 1. ORS 285B.551 is amended to read:
285B.551. (1) Pursuant to ORS 286.560 to 286.580 and 348.716,
lottery bonds may be issued:
(a) To provide financial and other assistance, including but
not limited to loans and grants, to municipalities, ports and
other persons and entities in accordance with the laws governing
use of moneys in the Special Public Works Fund created by ORS
285B.455, the Water Fund created by ORS 285B.563, the Safe
Drinking Water Revolving Loan Fund created by ORS 285A.213, the
Oregon Port Revolving Fund created by ORS 285A.708, the
Brownfields Redevelopment Loan Fund created by ORS 285A.188 and
the Marine Navigation Improvement Fund created by ORS 777.267.
(b) To fund Oregon's share of the costs of the Columbia River
channel deepening project.
{ + (c) To fund Oregon's share of the costs of studies and
ecosystem restoration projects in the lower Columbia River
estuary designed to improve habitat for listed endangered or
threatened species of Columbia River anadromous salmonids. + }
(2) The use of lottery bond proceeds is authorized based on the
following findings:
(a) The financial and other assistance to municipalities, ports
and other persons and entities will assist in the construction,
improvement and expansion of infrastructure, community and port
facilities and other facilities that comprise the physical
foundation for industrial and commercial activity and provide the
basic framework for continued and expanded economic opportunities
and quality communities throughout Oregon.
(b) The Columbia River channel deepening project is necessary
to allow newer, larger steamships access to Oregon and Washington
deep draft ports. A deeper shipping channel will allow the
Columbia River to continue as a world leader in agricultural
exports and as a key trade corridor for farms and businesses
throughout Oregon and the region.
(c) Such financial and other assistance to municipalities,
ports and other persons and entities and the deepening of the
Columbia River channel will therefore promote economic
development within this state, and thus the use of net proceeds
derived from the operation of the Oregon State Lottery to pay
debt service on lottery bonds issued under this section to
provide such financial and other assistance to municipalities,
ports and other persons and entities and to pay a portion of the
costs of deepening the Columbia River channel is an authorized
use of state lottery funds under section 4, Article XV of the
Oregon Constitution, and ORS 461.510.
{ + (d) The current lower Columbia River estuary habitat for
listed endangered or threatened species of Columbia River
anadromous salmonids could be improved through ecosystem
restoration projects. The use of the Oregon State Lottery to pay
debt service on lottery bonds issued under this section to pay
for studying how the estuary could be improved and to pay for
ecosystem restoration projects is an authorized use of state
lottery funds. + }
(3) The aggregate principal amount of lottery bonds issued
pursuant to subsection (1)(a) of this section for financial and
other assistance to municipalities, ports and other persons and
entities { - shall - } { + may + } not exceed the sum of $45
million and an additional amount estimated by the State Treasurer
to be necessary to pay bond-related costs. The aggregate
principal amount of lottery bonds issued pursuant to subsection
(1)(b) of this section for the Columbia River channel deepening
project { - shall - } { + may + } not exceed the sum of $17.7
million and an additional amount estimated by the State Treasurer
to be necessary to pay bond-related costs. Lottery bonds issued
pursuant to this section shall be issued only at the request of
the Director of the Economic and Community Development
Department. The director { - shall - } { + may + } not
request the issuance of lottery bonds pursuant to subsection
(1)(b) of this section until a final environmental impact
statement has been issued and a record of decisions has been
submitted to Congress by the United States Army Corps of
Engineers, Congress has authorized the Columbia River channel
deepening project, and the Washington sponsors' shares of the
costs of the Columbia River channel deepening project have been
committed.
(4) The net proceeds of lottery bonds issued pursuant to { +
subsection (1)(a) and (b) of + } this section shall be deposited
in the Economic Infrastructure Project Fund, which is hereby
established in the State Treasury separate and distinct from the
General Fund. All moneys in the Economic Infrastructure Project
Fund are continuously appropriated to the Economic and Community
Development Department for any purpose for which moneys in the
Special Public Works Fund created by ORS 285B.455 may be used,
any purpose for which moneys in the Water Fund created by ORS
285B.563 may be used, any purpose for which moneys in the Safe
Drinking Water Revolving Loan Fund created by ORS 285A.213 may be
used, any purpose for which moneys in the Oregon Port Revolving
Fund created by ORS 285A.708 may be used, any purpose for which
moneys in the Brownfields Redevelopment Loan Fund created by ORS
285A.188 may be used and any purpose for which moneys in the
Marine Navigation Improvement Fund created by ORS 777.267 may be
used. The Director of the Economic and Community Development
Department shall allocate the moneys deposited in the Economic
Infrastructure Project Fund for the purposes described in this
subsection in accordance with the policies developed by the
Oregon Economic and Community Development Commission in
accordance with ORS 285A.045. However, the director shall
transfer from the Economic Infrastructure Project Fund to the
Marine Navigation Improvement Fund the proceeds of any lottery
bonds sold to finance a portion of the costs of the Columbia
River channel deepening project. Upon determining the relative
allocation of moneys deposited in the Economic Infrastructure
Project Fund among the purposes described in this subsection, the
director shall transfer from the Economic Infrastructure Project
Fund, and deposit into each of the other funds described in this
subsection, the amounts so allocated. Notwithstanding any other
provision of law governing the funds described in this
subsection, the funds described in this subsection may be
credited with moneys transferred from the Economic Infrastructure
Project Fund by the director in accordance with this subsection.
{ + (5) The aggregate principal amount of lottery bonds
issued pursuant to subsection (1)(c) of this section for the
costs of studies and ecosystem restoration projects in the lower
Columbia River estuary may not exceed the sum of $750,000 and an
additional amount estimated by the State Treasurer to be
necessary to pay bond-related costs. The net proceeds of lottery
bonds issued pursuant to subsection (1)(c) of this section shall
be deposited in the Oregon Community Development Fund created by
ORS 285A.227 and may be used only for the nonfederal cost share
portion of United States Army Corps of Engineers Columbia River
estuary projects authorized by Congress prior to the effective
date of this 2001 Act. The director may not request the issuance
of lottery bonds pursuant to subsection (1)(c) of this section
until Congress and Washington have authorized their respective
shares of the costs of the studies and ecosystem restoration
projects in the lower Columbia River estuary. + }
{ - (5) - } { + (6) + } The proceeds of lottery bonds
issued pursuant to this section shall be used only for the
purposes set forth in
{ - subsection (4) - } { + subsections (4) and (5) + } of
this section and for bond-related costs.
----------