75th OREGON LEGISLATIVE ASSEMBLY--2009 Regular Session
 
HA to HB 2396
 
LC 1507/HB 2396-3
 
                       HOUSE AMENDMENTS TO
                         HOUSE BILL 2396
 
                 By COMMITTEE ON TRANSPORTATION
 
                            April 16
 
  On page 1 of the printed bill, delete lines 8 through 20 and
insert:
  '  { +  SECTION 2. + }  { + (1) At the request of the Oregon
Department of Administrative Services, the State Treasurer is
authorized to issue lottery bonds pursuant to ORS 286A.560 to
286A.585:
  ' (a) For the biennium beginning July 1, 2009, in an amount not
to exceed net proceeds of $1.6 million for the purpose described
in subsection (2) of this section, plus an additional amount, to
be estimated by the State Treasurer, for payment of bond-related
costs;
  ' (b) For the biennium beginning July 1, 2011, in an amount not
to exceed net proceeds of $8.4 million for the purpose described
in subsection (2) of this section, plus an additional amount, to
be estimated by the State Treasurer, for payment of bond-related
costs; and
  ' (c) For the biennium beginning July 1, 2013, in an amount not
to exceed net proceeds of $20 million for the purpose described
in subsection (2) of this section, plus an additional amount, to
be estimated by the State Treasurer, for payment of bond-related
costs.
  ' (2) Net proceeds of bonds issued pursuant to this section
must be deposited in the West Eugene EmX Extension Fund
established in section 4 of this 2009 Act sufficient to provide
$30 million in net proceeds and interest earnings for
disbursement to the Lane Transit District to establish the West
Eugene EmX Extension.
  ' (3) Bond-related costs for the lottery bonds authorized by
this section must be paid from the gross proceeds of the lottery
bonds and from allocations for the purposes of ORS 286A.576
(1)(c). + } ' .
  On page 2, delete lines 6 through 39 and insert:
  '  { +  SECTION 4. + }  { + (1) The West Eugene EmX Extension
Fund is established in the State Treasury, separate and distinct
from the General Fund. Interest earned on moneys in the West
Eugene EmX Extension Fund shall be credited to the fund. The fund
consists of moneys deposited in the fund under section 2 of this
2009 Act, and may include fees, revenues or other income
deposited into the fund by the Legislative Assembly for payment
of costs incurred to establish the West Eugene EmX Extension.
Moneys in the fund are continuously appropriated to the Oregon
Department of Administrative Services for the purposes described
in subsection (2) of this section.
  ' (2) Subject to section 5 of this 2009 Act, moneys in the fund
are available for:
  ' (a) Disbursement to the Lane Transit District to pay $30
million of the costs incurred to establish the West Eugene EmX
Extension.
  ' (b) Payment of bond-related costs, as defined in ORS
286A.560. + }
  '  { +  SECTION 5. + }  { + (1) The Oregon Department of
Administrative Services, in consultation with the Department of
Transportation, shall enter into a grant agreement with the Lane
Transit District that requires:
  ' (a) The district to:
  ' (A) Indemnify the state government, as defined in ORS
174.111, to the fullest extent permitted by law for any liability
the state government might incur in connection with borrowing by
the district for the West Eugene EmX Extension.
  ' (B) Refrain from requesting or accepting moneys from the
General Fund for the West Eugene EmX Extension.
  ' (C) Refund to the Oregon Department of Administrative
Services for deposit in the West Eugene EmX Extension Fund, upon
completion of the West Eugene EmX Extension, the amount by which
the aggregate expenditure for the extension is less than $75
million.
  ' (b) The Oregon Department of Administrative Services to
disburse, over the course of the development of the West Eugene
EmX Extension, an aggregate amount of $30 million to the district
from the West Eugene EmX Extension Fund when:
  ' (A) Moneys are available;
  ' (B) The department determines that the district has entered
into one or more contracts that have an aggregate value of at
least $75 million for the acquisition, construction and
procurement of the components of the West Eugene EmX Extension;
and
  ' (C) The department determines that the district has provided
documentation showing that the district will have sufficient
financing to complete the West Eugene EmX Extension.
  ' (2) The State of Oregon is not liable to the lenders, vendors
or contractors of the Lane Transit District for any action or
omission under sections 1 to 5 of this 2009 Act or the grant
agreement authorized by this section. + } ' .
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