74th OREGON LEGISLATIVE ASSEMBLY--2007 Regular Session
 
Note: For budget, see 2007-2009 Biennial Budget
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 9005
 
                           A-Engrossed
 
                         House Bill 5005
                  Ordered by the House June 25
            Including House Amendments dated June 25
 
Ordered printed by the Speaker pursuant to House Rule 12.00A (5).
  Presession filed (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.
 
  Establishes amounts authorized for issuance of general
obligation bonds, revenue bonds, certificates of participation
and other financing agreements for biennium.
  Establishes amounts allocated for private activity bonds.
  Declares emergency, effective July 1, 2007.
 
                        A BILL FOR AN ACT
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 2007-2009 biennium are as
follows: + }
 
____NOTE_TO_WEB_CUSTOMERS:__________________________________
THE FOLLOWING TABULAR TEXT MAY BE IRREGULAR.
FOR COMPLETE INFORMATION PLEASE SEE THE PRINTED MEASURE.
_______________________________________________________________
 
   { +
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(2100,000,000
   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,
   Oregon 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
   Oregon Economic and Community
   Development Commission Industrial
   Development Bonds......400,000,000
   Oregon Facilities Autho500,000,000
   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 Serv271,595,000 + }
____________________________________________________________
END OF POSSIBLE IRREGULAR TABULAR TEXT
____________________________________________________________
  SECTION 2.  { + The amounts allocated for private activity
bonds, as provided in ORS 286.615, are as follows: + }
 
____NOTE_TO_WEB_CUSTOMERS:__________________________________
THE FOLLOWING TABULAR TEXT MAY BE IRREGULAR.
FOR COMPLETE INFORMATION PLEASE SEE THE PRINTED MEASURE.
_______________________________________________________________
 
   { +
(1For the calendar year 2008, the amount
      of $309,489,760 is allocated as follows:
  (a) Oregon Economic and Community
      Development Commiss30,000,000
  (b) Oregon Facilities Au8,000,000
  (c) Housing and Community
      Services Departmen120,000,000
  (d) State Department of10,000,000
  (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) Oregon Economic and Community
      Development Commiss40,000,000
  (b) Oregon Facilities Au8,000,000
  (c) Housing and Community
      Services Departmen125,000,000
  (d) State Department of10,000,000
  (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. + }
____________________________________________________________
END OF POSSIBLE IRREGULAR TABULAR TEXT
____________________________________________________________
  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. + }
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