Chapter 727 Oregon Laws 2003

AN ACT

HB 5042

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

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

SECTION 1. In addition to and not in lieu of any other appropriation, there is appropriated to the Oregon Department of Administrative Services, for the biennium beginning July 1, 2003, out of the General Fund, the amount of $84,379,467 for the Oregon Health and Science University.

SECTION 2. Allocations of funding authorized by section 1 of this 2003 Act shall be made in an amount equal to one-eighth of the authorized appropriation on the first day of each quarter of the biennium beginning July 1, 2003.

SECTION 3. Notwithstanding any other law limiting expenditures, the amount of $106,298,400 is established for the biennium beginning July 1, 2003, as the maximum limit for payment of expenses by the Oregon Department of Administrative Services from the Oregon Opportunity Fund to the Oregon Health and Science University to finance the Oregon Opportunity program created pursuant to ORS 353.559.

SECTION 4. Notwithstanding any other law limiting expenditures, the amount of $19,511,274 is established for the biennium beginning July 1, 2003, as the maximum limit for payment of expenses by the Oregon Department of Administrative Services from the Oregon Health and Science University Bond Fund for paying the principal of, and the interest and premium on, outstanding general obligation bonds, for funding the general obligation bond reserves, and for paying amounts due in connection with any instrument authorized by section 18 (4)(c), chapter 921, Oregon Laws 2001.

SECTION 5. During the biennium beginning July 1, 2003, the Oregon Department of Administrative Services shall transfer the amount of $9,645,977 from the Tobacco Settlement Funds Account to the Oregon Health and Science University Bond Fund.

SECTION 6. Notwithstanding any other law limiting expenditures, the amount of $1,181,626 is established for the biennium beginning July 1, 2003, as the maximum limit for payment of expenses by the Oregon Department of Administrative Services from the Oregon Health and Science University Bond Administrative Fund for payment of bond-related costs associated with general obligation bonds issued under section 18, chapter 921, Oregon Laws 2001.

SECTION 7. 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 29, 2003

Filed in the office of Secretary of State September 2, 2003

Effective date August 29, 2003

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