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
 
                           B-Engrossed
 
                   Senate Joint Resolution 22
                   Ordered by the House June 1
 Including Senate Amendments dated April 16 and House Amendments
                          dated June 1
 
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) In the manner provided by law and
notwithstanding the limitations contained in section 7, Article
XI of this Constitution, the credit of the State of Oregon may be
loaned and indebtedness incurred, in an aggregate outstanding
principal amount not to exceed, at any one time, one-fifth of one
percent of the real market value of all property in the state, to
provide funds for the planning and implementation of seismic
rehabilitation of emergency services buildings, including
surveying and conducting engineering evaluations of the need for
seismic rehabilitation.
  (2) Any indebtedness incurred under this section must be in the
form of general obligation bonds of the State of Oregon
containing a direct promise on behalf of the State of Oregon to
pay the principal, premium, if any, interest and other amounts
payable with respect to the bonds, in an aggregate outstanding
principal amount not to exceed the amount authorized in
subsection (1) of this section. The bonds are the direct
obligation of the State of Oregon and must be in a form, run for
a period of time, have terms and bear rates of interest as may be
provided by statute. The full faith and credit and taxing power
of the State of Oregon must be pledged to the payment of the
principal, premium, if any, and interest on the general
obligation bonds; however, the ad valorem taxing power of the
State of Oregon may not be pledged to the payment of the bonds
issued under this section.
  (3) As used in this section:
  (a) 'Acute inpatient care facility' means a licensed hospital
with an organized medical staff, with permanent facilities that
include inpatient beds, and with comprehensive medical services,
including physician services and continuous nursing services
under the supervision of registered nurses, to provide diagnosis
and medical or surgical treatment primarily for but not limited
to acutely ill patients and accident victims.  ' Acute inpatient
care facility' includes the Oregon Health and Science University.
  (b) 'Emergency services building' means a public building used
for fire protection services, a hospital building that contains
an acute inpatient care facility, a police station, a sheriff's
office or a similar facility used by a state, county, district or
municipal law enforcement agency. + }
   { +  SECTION 2. + }  { + The principal, premium, if any,
interest and other amounts payable with respect to the general
obligation bonds issued under section 1 of this Article must be
repaid as determined by the Legislative Assembly from the
following sources:
  (1) Amounts appropriated for the purpose by the Legislative
Assembly from the General Fund, including taxes, other than ad
valorem property taxes, levied to pay the bonds;
  (2) Amounts allocated for the purpose by the Legislative
Assembly from the proceeds of the State Lottery or from the
Master Settlement Agreement entered into on November 23, 1998, by
the State of Oregon and leading United States tobacco product
manufacturers; and
  (3) Amounts appropriated or allocated for the purpose by the
Legislative Assembly from other sources of revenue. + }
   { +  SECTION 3. + }  { + General obligation bonds issued under
section 1 of this Article may be refunded with bonds of like
obligation. + }
   { +  SECTION 4. The Legislative Assembly may enact legislation
to carry out the provisions of this Article. + }
   { +  SECTION 5. + }  { + This Article supersedes conflicting
provisions of this Constitution. + }
 
  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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