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 1817
 
                           A-Engrossed
 
                   Senate Joint Resolution 17
                   Ordered by the House May 25
             Including House Amendments dated May 25
 
Sponsored by Senator HARTUNG; Senators BROWN, DUNCAN, METSGER,
  Representatives HILL, SCHRADER, WILLIAMS
 
 
                             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.
 
  Proposes amendment to Oregon Constitution to allow state to
hold and dispose of stock received in exchange for technology
created by public institution of post-secondary education or
received as state asset invested in technology or resources.
  Refers proposed amendment to people for their approval or
rejection at   { - next regular general election - }
 { + special election held on same date as next biennial primary
election + }.
 
                        JOINT RESOLUTION
Be It Resolved by the Legislative Assembly of the State of
  Oregon:
  PARAGRAPH 1. Section 6, Article XI of the Constitution of the
State of Oregon, is amended to read:
   { +  Sec. 6. + }  { + (1) + } The state shall not subscribe
to, or be interested in the stock of any company, association or
corporation. However, as provided by law the state may hold and
dispose of stock, including stock already received, that is
donated or bequeathed; and may invest, in the stock of any
company, association or corporation, any funds or moneys that:
    { - (1) - }   { + (a) + } Are donated or bequeathed for
higher education purposes;   { - or - }
    { - (2) - }   { + (b) + } Are the proceeds from the
disposition of stock that is donated or bequeathed for higher
education purposes, including stock already received; or
    { - (3) - }   { + (c) + } Are dividends paid with respect to
stock that is donated or bequeathed for higher education
purposes, including stock already received.
   { +  (2) Notwithstanding the limits contained in subsection
(1) of this section, the state may hold and dispose of stock:
  (a) Received in exchange for technology created in whole or in
part by a public institution of post-secondary education; or
  (b) Received prior to December 5, 2002, as a state asset
invested in the creation or development of technology or
resources within Oregon. + }
 
 
  PARAGRAPH 2.  { + The amendment proposed by this resolution
shall be submitted to the people for their approval or rejection
at a special election held throughout this state on the same date
as the next biennial primary election. + }
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