74th OREGON LEGISLATIVE ASSEMBLY--2007 Regular Session
 
SA to A-Eng. HJR 13
 
LC 146/HJR 13-A5
 
                      SENATE AMENDMENTS TO
              A-ENGROSSED HOUSE JOINT RESOLUTION 13
 
               By COMMITTEE ON FINANCE AND REVENUE
 
                             June 18
 
  On page 1 of the printed A-engrossed joint resolution, line 2,
after 'Oregon' insert a colon and delete the rest of the line.
  Delete lines 3 through 25 and delete pages 2 through 5 and
insert:
  '  { +  PARAGRAPH 1. + } The Constitution of the State of
Oregon is amended by creating a new section 11k to be added to
and made a part of Article XI, such section to read:
  '  { +  SECTION 11k. + }  { + (1) The limitations of sections
11 and 11b of this Article do not apply to bonded indebtedness
incurred by school districts, education service districts or
community college districts for the purpose of capital
construction or capital improvements if the bonded indebtedness
was issued:
  ' (a) Prior to January 1, 2009, and was for the purpose of
capital construction or capital improvements described in
subsections (11), (12) and (13) of section 11 of this Article; or
  ' (b) On or after January 1, 2009, and was for the purpose of
providing funds to finance the capital costs of school districts,
education service districts or community college districts.
  ' (2) Bonded indebtedness described in subsection (1) of this
section includes bonded indebtedness issued to refund bonded
indebtedness described in subsection (1) of this section.
  ' (3) Notwithstanding subsection (1) of this section,
subsection (8) of section 11 of this Article applies to measures
that authorize bonded indebtedness described in subsection (1) of
this section.
  ' (4)(a) As used in this section, 'capital costs' means both:
  ' (A) Costs associated with the acquisition, construction,
improvement, remodeling, maintenance or repair of school
district, education service district or community college
district facilities in the State of Oregon, including
bond-related costs and costs of land, site preparation, permanent
or portable buildings, technology and equipment; and
  ' (B) Costs associated with other assets that have an expected
useful life of more than one year, but only if those assets have
an average life that is less than or equal to the average life of
the portion of the bonded indebtedness that finances those
assets.
  ' (b) 'Capital costs' does not include maintenance, repairs and
supplies, unless the maintenance, repairs or supplies have an
expected useful life of more than one year and their average life
is less than or equal to the average life of the portion of the
bonded indebtedness that finances the maintenance, repairs or
supplies. + }
 
  '  { +  PARAGRAPH 2. + }  { + The amendment proposed by this
resolution shall be submitted to the people for their approval or
rejection at the next regular general election held throughout
this state. + } ' .
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