74th OREGON LEGISLATIVE ASSEMBLY--2007 Regular Session
 
SA to SB 21
 
LC 2069/SB 21-2
 
                      SENATE AMENDMENTS TO
                         SENATE BILL 21
 
     By COMMITTEE ON BUSINESS, TRANSPORTATION AND WORKFORCE
                           DEVELOPMENT
 
                            April 23
 
  On page 1 of the printed bill, line 2, delete 'limiting'.
  In line 3, delete 'expenditures;'.
  In line 13, before 'deep' insert 'lower Coos Bay'.
  In line 14, after 'channel' insert ', west of the Coos Bay
railroad bridge,'.
  In line 15, after the second 'feet' insert ', or to standards
determined by the primary sponsor based on feasibility studies
required,'.
  In line 16, delete 'southern'.
  In line 22, after 'of' insert 'containerized cargo,'.
  In line 27, delete '7' and insert '5'.
  Delete line 28.
  In line 29, delete '(2)' and insert '(1)' and after ' the'
delete the rest of the line and line 30 and insert 'lower Coos
Bay deep draft navigation channel, west of the Coos Bay railroad
bridge, to perform ecosystem investigation and restoration
projects and to make additional navigational system improvements
including, but not limited to, structural work at the entrance
jetties, navigation aids and other design or engineering tasks.'.
  On page 2, delete line 1.
  In line 2, delete '(4)' and insert '(2)'.
  In line 3, delete 'on behalf of the state'.
  In line 4, delete '(5)' and insert '(3)'.
  In line 8, delete 'Coos Bay navigation channel' and insert '
lower Coos Bay deep draft navigation channel, west of the Coos
Bay railroad bridge,'.
  In line 11, delete 'southern'.
  In line 12, delete 'southern'.
  In line 18, delete 'revenues' and insert 'income'.
  In line 19, delete 'and' and insert 'or'.
  In line 23, delete the first '4' and insert '3'.
  In line 25, delete '7' and insert '5'.
  In line 26, delete '7' and insert '5'.
  In line 27, delete 'and the grant agreement'.
  Delete lines 29 through 45 and delete pages 3 and 4 and insert:
  '  { +  SECTION 3. + }  { + (1) In addition to amounts
authorized under ORS 286.505 to 286.545, the State Treasurer, at
the request of the Director of the Economic and Community
Development Department, may issue lottery bonds pursuant to ORS
286.560 to 286.580:
  ' (a) In an amount of up to $60 million for payment of the
expenses of the Coos Bay Channel Project in increments described
in subsection (2) of this section; and
  ' (b) An additional amount to be estimated by the State
Treasurer for payment of bond-related costs of the Oregon
Department of Administrative Services, the Economic and Community
Development Department and the State Treasurer.
  ' (2) The director shall request the State Treasurer to issue
the amount of bonds described in subsection (1)(a) of this
section in increments that allow the director, at the request of
the primary sponsor, to transfer:
  ' (a) In the biennium beginning July 1, 2007, up to $5 million
in net proceeds of lottery bonds to the Coos Bay Channel Fund
established in section 5 of this 2007 Act for distribution to the
primary sponsor after the primary sponsor provides documentation
establishing to the satisfaction of the director that the primary
sponsor has entered into an agreement with a cargo terminal
developer, subject to termination based only on acts of God,
natural disasters, catastrophic events, acts of war or other
unforeseen events, to develop and operate terminal facilities on
the Coos Bay channel.
  ' (b) In the biennium beginning July 1, 2009, up to $10 million
in net proceeds of lottery bonds to the fund established in
section 5 of this 2007 Act for distribution to the primary
sponsor after the primary sponsor provides documentation
establishing to the satisfaction of the director that the Chief
of Engineers of the United States Army Corps of Engineers has
provided a favorable recommendation to Congress to proceed with
the Coos Bay Channel Project and that federal moneys are
available to meet the federal cost share of the project. If
federal moneys are not committed to the project, the
documentation provided to the director by the primary sponsor
must include a signed agreement committing private parties to
provide moneys substantially equivalent to the federal cost
share, as determined by the director, as a private cost share.
  ' (c) In the biennium beginning July 1, 2011, up to $45 million
in net proceeds of lottery bonds to the fund established in
section 5 of this 2007 Act for distribution to the primary
sponsor after the primary sponsor provides documentation
establishing to the satisfaction of the director that the primary
sponsor has entered into one or more agreements for channel
dredging or other construction on the project.
  ' (3) Lottery bonds authorized under this section may not be
issued on or after June 30, 2013. + }
  '  { +  SECTION 4. + }  { + (1) The Oregon sponsors are each
authorized to enter into agreements with agencies of the United
States for the Coos Bay Channel Project and, notwithstanding any
other provision of law, may each agree to be bound by any
requirement imposed by an Act of the United States Congress as a
condition of federal participation in the project.
  ' (2) The State of Oregon and its agencies and departments are
not liable to the lenders, vendors or contractors of the Oregon
sponsors for any action or omission under sections 1 to 5 of this
2007 Act, except for a failure to allocate and deposit to the
Coos Bay Channel Fund established under section 5 of this 2007
Act the amounts required by section 3 of this 2007 Act or to
disburse from the fund to the primary sponsor the amounts
required by section 3 of this 2007 Act.
  ' (3) By receipt of any part of net proceeds of lottery bonds
described in section 3 of this 2007 Act, the primary sponsor
agrees to indemnify the state and its agencies and departments to
the fullest extent permitted by law for liability the state or
its agencies and departments might incur in connection with any
borrowing by the primary sponsor for the project, except for a
failure to allocate and deposit to the fund the amounts required
by section 3 of this 2007 Act or to disburse from the fund to the
primary sponsor the amounts required by section 3 of this 2007
Act. + }
  '  { +  SECTION 5. + }  { + (1) The Coos Bay Channel Fund is
established separate and distinct from the General Fund. Interest
earned by the Coos Bay Channel Fund shall be credited to the
fund. The moneys in the Coos Bay Channel Fund are continuously
appropriated to the Economic and Community Development Department
for the purpose described in subsection (2) of this section. The
fund shall consist of moneys deposited in the fund under section
3 of this 2007 Act and may include fees, moneys or other
revenues, including federal funds collected or received as
reimbursement for expenses of the project, available for payment
of expenses of the Coos Bay Channel Project or bond-related
costs.
  ' (2) Moneys in the fund are available to the department for
distribution to the primary sponsor to pay the nonfederal cost
share, or the nonprivate cost share, of expenses of the project
up to the amount specified in section 3 of this 2007 Act and to
pay bond-related costs. + }
  '  { +  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. + } ' .
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