Chapter 903 Oregon Laws 2009
AN ACT
SB 5505
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 286A.035, for issuance of general obligation bonds, revenue bonds, certificates of participation and other financing agreements of this state during the 2009-2011 biennium are as follows:
General Fund Obligations
Department of Higher
Education (Art. XI-G).................. $ 144,900,479
Department of Community
Colleges and Workforce
Development (Art. XI-G).............. $ 63,233,000
Department of Environmental
Quality (Art. XI-H)....................... $ 10,000,000
Oregon Military Department
(Art. XI-M).................................... $ 15,000,000
Oregon Military Department
(Art. XI-N)..................................... $ 15,000,000
Dedicated Fund Obligations
Department of Veterans’
Affairs (Art. XI-A)........................ $ 150,000,000
Department of Higher
Education (Art. XI-F(1)).............. $ 488,401,244
Water Resources Department
(Art. XI-I(1)).................................. $ 10,000,000
Housing and Community Services
Department (Art. XI-I(2))............ $ 100,000,000
State Department of
Energy (Art. XI-J)........................ $ 250,000,000
Total General Obligation
Bonds............................................. $ 1,246,534,723
REVENUE BONDS
Direct Revenue Bonds
Housing and Community
Services Department..................... $ 600,000,000
Department of Transportation,
Oregon Transportation
Infrastructure Fund..................... $ 100,000,000
Highway User Tax........................ $ 798,514,000
Economic and Community
Development Department............ $ 200,000,000
Oregon Department of
Administrative Services Lottery
Revenue Bonds.............................. $ 274,300,000
Total Direct Revenue
Bonds............................................. $ 1,972,814,000
Pass-Through Revenue Bonds
Oregon Economic and Community
Development Commission Industrial
Development Bonds...................... $ 400,000,000
Oregon Facilities Authority.......... $ 950,000,000
Housing and Community Services
Department.................................... $ 250,000,000
Total Pass-Through Revenue
Bonds............................................. $ 1,600,000,000
Total Revenue Bonds.................... $ 3,572,814,000
CERTIFICATES OF PARTICIPATION
AND OTHER FINANCING AGREEMENTS
Oregon Department of
Administrative Services................ $ 764,780,000
SECTION 2. The amounts allocated for private activity bonds, as provided in ORS 286A.615, are as follows:
(1) For the calendar year 2010, the amount
of $337,270,950 is allocated as follows:
(a) Oregon Economic and Community
Development Commission........................ $ 40,000,000
(b) Housing and Community
Services Department................................. $ 125,000,000
(c) State Department of Energy.................... $ 10,000,000
(d) Private Activity Bond
Committee.................................................. $ 162,270,950
(2) For the calendar year 2011, the amount
of $337,270,950 is allocated as follows:
(a) Oregon Economic and Community
Development Commission........................ $ 40,000,000
(b) Housing and Community
Services Department................................. $ 125,000,000
(c) State Department of Energy.................... $ 10,000,000
(d) Private Activity Bond
Committee.................................................. $ 162,270,950
(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 $337,270,950 during
the 2010 calendar year or $337,270,950
during the 2011 calendar year,
the increase is allocated to the
Private Activity Bond Committee.
SECTION 3. (1) In addition to any other issuance of bonds issued under Article XI-I(1) of the Oregon Constitution authorized by law, for the biennium beginning July 1, 2009, the State Treasurer, with the concurrence of the Director of the Oregon Department of Administrative Services, may issue Article XI-I(1) bonds pursuant to ORS 286A.035 and at the request of the Water Resources Commission, in the principal amount of $10 million par value plus an additional amount to be estimated by the State Treasurer for payment of bond-related costs incurred by the Oregon Department of Administrative Services, the commission and the State Treasurer, to fund water development projects in the Columbia River Basin by water developers that are not municipalities or providers of water for municipal purposes.
(2) The State Treasurer shall credit the net proceeds of Article XI-I(1) bonds issued under this section as provided in ORS 541.785.
SECTION 4. (1) In addition to any other issuance of bonds issued under Article XI-I(1) of the Oregon Constitution authorized by law, for the biennium beginning July 1, 2011, the State Treasurer, with the concurrence of the Director of the Oregon Department of Administrative Services, may issue Article XI-I(1) bonds pursuant to ORS 286A.035 and at the request of the Water Resources Commission, in the principal amount of $15 million par value plus an additional amount to be estimated by the State Treasurer for payment of bond-related costs incurred by the Oregon Department of Administrative Services, the commission and the State Treasurer, to fund water development projects in the Columbia River Basin by water developers that are not municipalities or providers of water for municipal purposes.
(2) The State Treasurer shall credit the net proceeds of Article XI-I(1) bonds issued under this section as provided in ORS 541.785.
SECTION 5. This 2009 Act being necessary for the immediate preservation of the public peace, health and safety, an emergency is declared to exist, and this 2009 Act takes effect July 1, 2009.
Approved by the Governor August 4, 2009
Filed in the office of Secretary of State August 4, 2009
Effective date August 4, 2009
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