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 1767-1
 
                           A-Engrossed
 
                   Senate Joint Resolution 22
                 Ordered by the Senate April 16
           Including Senate Amendments dated April 16
 
Sponsored by COMMITTEE ON REVENUE
 
 
                             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
issue bonds to finance seismic rehabilitation of emergency
services buildings. Specifies source of moneys for payment of
indebtedness.
  Refers proposed amendment to people for their approval or
rejection at next regular general election.
 
                        JOINT RESOLUTION
Be It Resolved by the Legislative Assembly of the State of
  Oregon:
  PARAGRAPH 1. The Constitution of the State of Oregon is amended
by creating a new Article to be known as Article XI-L, such
Article to read:
 
                               { +
ARTICLE XI-L + }
 
   { +  SECTION 1. + }  { + (1) Notwithstanding the limitations
contained in sections 7 and 8, Article XI of this Constitution,
the credit of the State of Oregon may be loaned and indebtedness
incurred in an amount not to exceed at any time one-fifth of one
percent of the true cash value of all taxable property in the
state to provide funds for planning and implementing the seismic
rehabilitation of emergency services buildings, including
surveying and conducting engineering evaluations of the need for
seismic rehabilitation.
  (2) As used in this section:
  (a) 'Acute inpatient care facility' has the meaning given the
term in ORS 442.470. 'Acute inpatient care facility' also means
the Oregon Health Sciences University.
  (b) 'Emergency services building' means a public building used
for fire protection services or a hospital building that contains
an acute inpatient care facility. + }
   { +  SECTION 2. + }  { + Bonds of the State of Oregon
containing a direct promise on behalf of the state to pay the
face value, with interest as provided, may be issued to an amount
authorized by section 1 of this Article for the purpose
specified. The bonds shall be a direct obligation of the state
and shall be in such form, run for such periods of time and bear
such rates of interest as the Legislative Assembly provides. + }
   { +  SECTION 3. + }  { + Refunding bonds may be issued and
sold to refund bonds issued under sections 1 and 2 of this
Article. The total amount of bonds issued and outstanding at any
time, including refunding bonds, may not exceed the amount
authorized by section 1 of this Article. + }
   { +  SECTION 4. + }  { + The bonds issued under this Article
shall be payable from contract or loan proceeds, bond reserves,
other funds available for the purpose and, if necessary, ad
valorem taxes on the taxable property within the State of
Oregon. + }
   { +  SECTION 5. + }  { + The Legislative Assembly shall enact
legislation to carry out the provisions of this Article
including, but not limited to, defining 'hospital' as that term
relates to emergency services buildings. This Article shall
supersede any conflicting constitutional provision. + }
 
  PARAGRAPH 2.  { + The amendment proposed by this resolution
shall be submitted to the people for their approval or rejection
at the next regular general election held throughout this
state. + }
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