72nd OREGON LEGISLATIVE ASSEMBLY--2003 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 9551
 
                           A-Engrossed
 
                        Senate Bill 5551
                 Ordered by the Senate August 4
           Including Senate Amendments dated August 4
 
Printed pursuant to Senate Interim Rule 213.28 by order of the
  President of the Senate in conformance with presession filing
  rules, indicating neither advocacy nor opposition on the part
  of the President (at the request of Budget and Management
  Division, Oregon Department of Administrative Services)
 
 
                             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.
 
    { - Appropriates moneys from General Fund to _______ for
biennial expenses. - }
    { - Limits biennial expenditures from fees, moneys or other
revenues, including Miscellaneous Receipts, but excluding lottery
funds and federal funds, collected or received by _______. - }
    { - Limits biennial expenditures of _______ from federal
funds. - }
   { +  Transfers moneys from Tobacco Settlement Funds Account to
Oregon Appropriation Bond Fund for bond-related costs due in
biennium.
  Limits biennial expenditures from Oregon Appropriation Bond
Fund. + }
  Declares emergency, effective July 1, 2003.
 
                        A BILL FOR AN ACT
Relating to state financial administration; limiting
  expenditures; and declaring an emergency.
Be It Enacted by the People of the State of Oregon:
  SECTION 1.  { + The Oregon Department of Administrative
Services shall transfer the amount of $41,818,040 from the
Tobacco Settlement Funds Account to the Oregon Appropriation Bond
Fund established under section 3, chapter 11, Oregon Laws 2003
(Enrolled Senate Bill 856). + }
  SECTION 2.  { + Notwithstanding any other law limiting
expenditures, the amount of $59,317,364 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 Appropriation Bond Fund established under section
3, chapter 11, Oregon Laws 2003 (Enrolled Senate Bill 856), for
paying the principal of, interest on and premium on, if any,
outstanding appropriation bonds authorized by chapter 11, Oregon
Laws 2003 (Enrolled Senate Bill 856). + }
  SECTION 3.  { + 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. + }
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