Chapter 681 Oregon Laws 2005
AN ACT
SB 5632
Relating to state financial administration; and declaring an emergency.
Be It Enacted by the People of the State of
Oregon:
SECTION 1. The amounts authorized, as provided by ORS 286.525 (1), for issuance of general obligation bonds, revenue bonds, certificates of participation and other financing agreements of this state during the 2005-2007 biennium are as follows:
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Category Designation
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GENERAL
OBLIGATION
BONDS
General Fund Obligations
Department of Environmental
Quality
(Art. XI-H) $ 9,000,000
Dedicated Fund Obligations
Department of Veterans’
Affairs
(Art. XI-A) $ 120,000,000
Housing and Community Services
Department
(Art. XI-I(2)) $ 100,000,000
State Department of Energy
(Art.
XI-J) $ 125,000,000
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Total General Obligation Bonds $ 354,000,000
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REVENUE BONDS
Direct Revenue Bonds
Housing and Community
Services
Department $ 500,000,000
Department of Transportation,
Oregon
Transportation
Infrastructure
Fund $ 50,000,000
Highway
User Tax $ 915,000,000
Economic and Community
Development
Department $ 200,000,000
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Total Direct Revenue Bonds $ 1,665,000,000
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Pass-Through Revenue Bonds
Oregon Economic and Community
Development
Commission Industrial
Development
Bonds $ 250,000,000
Oregon Facilities Authority $ 300,000,000
Housing and Community Services
Department $ 200,000,000
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Total Pass-Through Revenue Bonds $ 750,000,000
Total Revenue Bonds $ 2,415,000,000
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SECTION 2. The amounts allocated for private activity bonds, as provided in ORS 286.615, are as follows:
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(1) For the calendar year 2006, the
amount
of $284,767,680 is allocated
as
follows:
(a) Oregon Economic and Community
Development
Commission............ $ 20,000,000
(b) Oregon Facilities Authority.......... $ 8,000,000
(c) Housing and Community
Services
Department..................... $ 110,000,000
(d) State Department of Energy........ $ 5,000,000
(e) Private Activity Bond
Committee...................................... $ 141,767,680
(2) For the calendar year 2007, the
amount
of $284,767,680 is allocated
as
follows:
(a) Oregon Economic and Community
Development
Commission............ $ 20,000,000
(b) Oregon Facilities Authority.......... $ 8,000,000
(c) Housing and Community
Services
Department..................... $ 115,000,000
(d) State Department of Energy........ $ 5,000,000
(e) Private Activity Bond
Committee...................................... $ 136,767,680
(3) If an increase in the state’s
population,
a sufficient increase
in
the region’s Consumer Price
Index
or a change in federal law
allows
the private activity bond
limit
as set by the Internal
Revenue
Code of 1986, as amended,
to
exceed $284,767,680 during
the
2006 calendar year or
$284,767,680
during the 2007
calendar
year, the increase
is
allocated to the Private
Activity
Bond Committee.
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SECTION 3. 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 29, 2005
Filed in the office of Secretary of State July 29, 2005
Effective date July 29, 2005
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