Chapter 553 Oregon Laws 2005

AN ACT

HB 5109

Relating to state financial administration; 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 Department of Veterans’ Affairs, for the biennium beginning July 1, 2005, out of the General Fund, the amount of $2,400,721 for payment of expenses for services supplied to veterans.

SECTION 2. Notwithstanding any other law limiting expenditures, the amount of $37,924,816 is established for the biennium beginning July 1, 2005, as the maximum limit for payment of expenses from fees, moneys or other revenues, including Miscellaneous Receipts, and including the Oregon War Veterans’ Bond Sinking Account, but excluding lottery funds and federal funds, collected or received by the Department of Veterans’ Affairs, for administration, grants and services supplied to veterans. This section does not limit expenditures from the Oregon War Veterans’ Bond Sinking Account for purposes described in section 3 of this 2005 Act.

SECTION 3. For the biennium beginning July 1, 2005, expenditures by the Department of Veterans’ Affairs for the following purposes are not limited:

(1) Professional services and related costs associated directly with bond sales;

(2) Debt service;

(3) Loans to veterans; and

(4) Payments on behalf of borrowers for property taxes, city liens, fire insurance, mortgage cancellation insurance and repairs to and miscellaneous charges for borrower-owned property that are charged to the loan account and repaid along with the payment of loan interest and principal.

SECTION 4. This 2005 Act being necessary for the immediate preservation of the public peace, health and safety, an emergency is declared to exist, and this 2005 Act takes effect July 1, 2005.

Approved by the Governor July 20, 2005

Filed in the office of Secretary of State July 20, 2005

Effective date July 20, 2005

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