75th OREGON LEGISLATIVE ASSEMBLY--2009 Regular Session
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 2918
House Bill 3116
Sponsored by Representative BUCKLEY, Senator BATES;
Representative ESQUIVEL
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 as
introduced.
Allows Blue Mountain Community College District and Rogue
Community College District to incur bonded indebtedness for
benefit of districts upon approval of voters in district.
A BILL FOR AN ACT
Relating to financing for community college districts; amending
ORS 341.608, 341.611, 341.613 and 341.616.
Be It Enacted by the People of the State of Oregon:
SECTION 1. ORS 341.608 is amended to read:
341.608. (1) Subject to restrictions in the Oregon Constitution
and subsection (2) of this section, any of the methods of
financing authorized under this chapter or any other provision of
law that is available to community college districts organized
pursuant to this chapter may, in the discretion of the district
board, be implemented { - from time to time - } { + in the
district, + }in a specific service area { - , - } or in one or
more specific service areas simultaneously.
(2) { - If expansion of the district is approved by the
voters, no bonded indebtedness or other indebtedness may be
incurred for the general benefit of the district as a whole. Any
bonded indebtedness designated to be for the benefit of service
areas constituting substantially all of the territory within the
boundaries of the service areas created or designated in ORS
341.604 shall be deemed to be incurred for the general benefit of
the district as a whole, and shall be outside the authority
conferred by this section. In place of such authority - } The
district may incur bonded indebtedness or other indebtedness for
the benefit of { + the district or + } a specific service area
upon satisfaction of the conditions set forth in ORS 341.611 and
341.613.
SECTION 2. ORS 341.611 is amended to read:
341.611. { + (1) + } An election shall be held to determine if
a district may contract a bonded indebtedness for the benefit of
{ + the district or for the benefit of + }a specific service
area.
{ + (2) If the bonded indebtedness is for the benefit of the
district, all district voters residing within the boundaries of
the district are entitled to vote in the election. If the bonded
indebtedness is for the benefit of a specific service area,
+ }only the district voters residing { - in the territory - }
{ + within the boundaries + } of the affected service area
{ - shall be - } { + are + } entitled to vote { - at
such - } { + in the + } election.
{ + (3) + } The district board may order the election on its
own motion, or shall order the election if a petition is filed as
provided in ORS 341.678 on behalf of the voters of { - such - }
{ + the district or the + } service area. The election shall be
held in accordance with the provisions of ORS 341.356 to 341.379.
SECTION 3. ORS 341.613 is amended to read:
341.613. (1) Following authorization from the voters of a { +
district or + } service area, the district board may contract a
bonded indebtedness to be paid by a tax levy on the taxable
property within { - such - } { + the district or + } service
area for any one or more of the purposes set forth in ORS
341.675. Any land acquired, college building or buildings or any
additions { - thereto - } { + to a building or buildings + },
and any real or personal property to be paid for with the
proceeds of { - such - } { + the + } bonded indebtedness must
be located within the boundaries of { - such - } { + the
district or the + } service area { + that approved the bonded
indebtedness + }.
(2) The aggregate amount of bonded indebtedness incurred for
the benefit of a { + district or + } service area, when added to
the aggregate amount of other bonded indebtedness payable from ad
valorem property taxes levied within { - such - } { + the
district or + } service area, { - shall - } { + may + } not
exceed one and one-half percent of the real market value of all
taxable property within { - such - } { + the district or + }
service area, computed in accordance with ORS 308.207.
SECTION 4. ORS 341.616 is amended to read:
341.616. (1) The district board shall ascertain and levy
annually, in addition to all other taxes, a direct ad valorem tax
on all the taxable property within { + the district if the
district approved bonded indebtedness or within + } the territory
of a service area { + if the service area approved bonded
indebtedness. The ad valorem tax shall be + } sufficient to pay
promptly, when and as such payments become due, the maturing
interest and principal of all bonds outstanding for the
{ - specific benefit of such - } { + district or the + }
service area that { - have been - } { + were + } approved at
an election held pursuant to ORS { + 341.611 or + } 341.678
{ - within such service area - } . The amount of the tax may be
increased by an amount sufficient to retire any bonds that may be
callable.
(2) Funds derived from a tax levy within { + the district
or + } a service area specifically for the purpose of paying
bonded indebtedness shall be applied solely to the payment of the
bonds for which { - such - } { + the + } taxes were levied
and { - shall - } { + may + } not be applied to the payment
of any other indebtedness { - of the district - } .
(3) Bonds authorized pursuant to the terms of this section, and
any bonds refunding { - such - } { + the + } bonds, shall be
issued as prescribed in ORS chapter 287A.
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