Chapter 734
AN ACT
HB 5005
Relating to state financial administration;
and declaring an emergency.
Be It Enacted by the People of
the State of
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 2007-2009 biennium are as follows:
General Fund
Obligations
Department of Higher
Education
(Art. XI-G)............................................. $ 131,604,535
Department of Community
Colleges and Workforce
Development
(Art. XI-G)......................................... $ 52,640,500
Department of Environmental
Quality
(Art. XI-H).................................................. $ 9,300,000
Dedicated
Fund Obligations
Department of Veterans’
Affairs
(Art. XI-A)................................................... $ 100,000,000
Department of Higher
Education
(Art. XI-F(1))......................................... $ 409,356,360
Housing and Community
Services
Department
(Art. XI-I(2))....................................... $ 100,000,000
State Department of
Energy
(Art. XI-J)................................................... $ 150,000,000
Total General Obligation
Bonds........................................................................ $ 952,901,395
REVENUE BONDS
Direct
Revenue Bonds
Housing and Community
Services Department................................................ $ 600,000,000
Department of
Transportation,
Infrastructure Fund................................................ $ 50,000,000
Highway User Tax................................................... $ 813,725,000
Economic and Community
Development Department....................................... $ 200,000,000
Oregon Department of
Administrative Services
Lottery
Revenue Bonds......................................................... $ 485,725,000
Total Direct Revenue
Bonds........................................................................ $ 2,149,450,000
Pass-Through
Revenue Bonds
Development Commission
Industrial
Development Bonds................................................. $ 400,000,000
Housing and Community
Services
Department............................................................... $ 250,000,000
Total Pass-Through Revenue
Bonds........................................................................ $ 1,150,000,000
Total Revenue Bonds............................................... $ 3,299,450,000
CERTIFICATES OF PARTICIPATION
AND OTHER FINANCING
AGREEMENTS
Oregon Department of
Administrative Services........................................... $ 271,595,000
SECTION 2. The amounts allocated for private activity
bonds, as provided in ORS 286.615, are as follows:
(1) For the calendar year
2008, the amount
of
$309,489,760 is allocated as follows:
(a)
Development Commission....................................... $ 30,000,000
(b)
(c) Housing and Community
Services Department................................................ $ 120,000,000
(d) State Department of
Energy................................ $ 10,000,000
(e) Private Activity Bond
Committee................................................................. $ 141,489,760
(2) For the calendar year
2009, the amount
of
$309,489,760 is allocated as follows:
(a)
Development Commission....................................... $ 40,000,000
(b)
(c) Housing and Community
Services Department................................................ $ 125,000,000
(d) State Department of
Energy................................ $ 10,000,000
(e) Private Activity Bond
Committee................................................................. $ 126,489,760
(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 $309,489,760 during
the
2008 calendar year or $309,489,760
during
the 2009 calendar year,
the
increase is allocated to the
Private Activity Bond
Committee.
SECTION 3. This 2007 Act being necessary for the
immediate preservation of the public peace, health and safety, an emergency is
declared to exist, and this 2007 Act takes effect July 1, 2007.
Approved by the Governor June 29, 2007
Filed in the office of Secretary of State July 2, 2007
Effective date July 1, 2007
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