Chapter 757
AN ACT
SB 5517
Relating to financial administration of the Housing and Community
Services Department; appropriating money; limiting expenditures; and declaring
an emergency.
Be It Enacted by the People of
the State of
SECTION 1. There is appropriated to the Housing and
Community Services Department, for the biennium beginning July 1, 2007, out of
the General Fund, the amount of $19,496,622.
SECTION 2. Notwithstanding any other law limiting
expenditures, the amount of $107,629,138 is established for the biennium
beginning July 1, 2007, as the maximum limit for payment of expenses from fees,
moneys or other revenues, including Miscellaneous Receipts and federal funds
from the United States Department of Housing and Urban Development for contract
services, but excluding lottery funds and federal funds not described in this
section, collected or received by the Housing and Community Services
Department.
SECTION 3. Notwithstanding any other law limiting
expenditures, the amount of $5,932,768 is established for the biennium
beginning July 1, 2007, as the maximum limit for payment of expenses from
lottery moneys allocated from the Administrative Services Economic Development
Fund to the Housing and Community Services Department for lottery
bonds.
SECTION 4. Notwithstanding any other law limiting
expenditures, the amount of $116,645,972 is established for the biennium
beginning July 1, 2007, as the maximum limit for payment of expenses from
federal funds other than those described in sections 2 and 5 of this 2007 Act
collected or received by the Housing and Community Services Department.
SECTION 5. For the biennium beginning July 1, 2007,
expenditures by the Housing and Community Services Department for the following
are not limited:
(1) Payments for costs
resulting from the sale and issuance or redemption of bonds issued under ORS
456.519, 456.645 and 456.650 and chapter 485, Oregon Laws 1977, and payment of
debt service and redemption premium on bonds so issued.
(2) Payments for the
purchase of bonds as provided in ORS 456.680.
(3) Loans and payments
for purchasing, insuring and servicing loans as provided in ORS 456.625,
456.635, 456.690, 456.705, 456.715 and 456.717.
(4) Payments for the
purchase from lending institutions of securities backed by residential loans as
provided in ORS 456.635 (1).
(5) Advances for
development costs made in accordance with ORS 456.710.
(6) Pass-through
payments of federal rent subsidy moneys from the United States Department of
Housing and Urban Development.
(7) Payments for costs
associated with asset protection.
SECTION 6. 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 July 12, 2007
Filed in the office of Secretary of State July 16, 2007
Effective date July 12, 2007
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