Chapter 679 Oregon Laws 2003

AN ACT

HB 5029

Relating to the financial administration of the Housing and Community Services Department; appropriating money; limiting expenditures; and declaring an emergency.

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

SECTION 1. There is appropriated to the Housing and Community Services Department, for the biennium beginning July 1, 2003, out of the General Fund, the amount of $9,796,361.

SECTION 2. Notwithstanding any other law limiting expenditures, the amount of $87,864,457 is established for the biennium beginning July 1, 2003, as the maximum limit for payment of expenses from fees, moneys or other revenues, including Miscellaneous Receipts, and including federal funds from the United States Department of Housing and Urban Development for administrative costs, collected or received by the Housing and Community Services Department.

SECTION 3. Notwithstanding any other law limiting expenditures, the amount of $4,984,677 is established for the biennium beginning July 1, 2003, as the maximum limit for payment of expenses from lottery moneys allocated from the Administrative Services Economic Development Fund to the Housing and Community Services Department for lottery bonds.

SECTION 4. Notwithstanding any other law limiting expenditures, the amount of $103,556,085 is established for the biennium beginning July 1, 2003, as the maximum limit for the payment of expenses from federal funds collected or received by the Housing and Community Services Department.

SECTION 5. For the biennium beginning July 1, 2003, expenditures for the following are not limited:

(1) Payments for costs resulting from the sale and issuance or redemption of bonds issued under ORS 456.645 and 456.650 and chapter 485, Oregon Laws 1977, and payments of debt service and redemption premium on bonds so issued.

(2) Payments for purchase of bonds as provided in ORS 456.680.

(3) Loans and payments for purchase, insurance and servicing of loans as provided in ORS 456.625, 456.635, 456.690, 456.705, 456.715 and 456.717.

(4) Payments for purchase from lending institutions of securities backed by residential loans as provided in ORS 456.635 (1).

(5) Advances for development costs made in accordance with ORS 456.710.

(6) Pass-through payments of federal rent subsidy moneys from the United States Department of Housing and Urban Development.

(7) Payments for costs associated with asset protection.

SECTION 6. This 2003 Act being necessary for the immediate preservation of the public peace, health and safety, an emergency is declared to exist, and this 2003 Act takes effect July 1, 2003.

Approved by the Governor August 21, 2003

Filed in the office of Secretary of State August 21, 2003

Effective date August 21, 2003

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