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 2159
 
                         Senate Bill 376
 
Sponsored by Senator GEORGE
 
 
                             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.
 
  Authorizes issuance of lottery bonds for financing
transportation improvement projects.
  Declares emergency, effective July 1, 2009.
 
                        A BILL FOR AN ACT
Relating to allocation of lottery bonds; and declaring an
  emergency.
Be It Enacted by the People of the State of Oregon:
  SECTION 1.  { + As used in sections 2 and 3 of this 2009 Act, '
transportation improvement projects' or 'projects' means the
following:
  (1) Property acquisition to construct a bypass between Newberg
and Dundee;
  (2) An environmental impact statement for the Interstate 5 and
Highway 99 West Connector Project;
  (3) An environmental impact statement for the Sunrise Corridor
Project;
  (4) An environmental impact statement for the Marion Street
bridge project in Salem; and
  (5) An environmental impact study for the Center Street bridge
project in Salem. + }
  SECTION 2.  { + (1) For the biennium beginning July 1, 2009, at
the request of the Director of Transportation, the State
Treasurer may issue lottery bonds pursuant to ORS 286A.560 to
286A.585 in the amount of $150 million for payment of the
expenses of the Department of Transportation for transportation
improvement projects, plus an additional amount to be estimated
by the State Treasurer for payment of bond-related costs incurred
by the Department of Transportation and the State Treasurer.
  (2) The bond-related costs incurred by the Department of
Transportation and the State Treasurer for the lottery bonds
authorized by this section shall be paid from the gross proceeds
of the lottery bonds and from allocations for the purposes of ORS
286A.576 (1)(c). + }
  SECTION 3.  { + The Legislative Assembly finds that:
  (1) The transportation improvement projects will accomplish the
purpose of creating jobs and furthering economic development in
Oregon because the completion of the transportation improvement
projects will:
 
 
  (a) Reduce traffic congestion on existing highways and roads,
improving their attractiveness to new businesses and supporting
the operations and prosperity of existing businesses; and
  (b) Reduce the cost and time required for family wage earners
to commute to work, permitting more of Oregon's workforce to
obtain jobs for which those workers are qualified.
  (2) The factors described in subsection (1) of this section
will encourage and promote economic development within Oregon,
and issuance of lottery bonds to finance the transportation
improvement projects is therefore an appropriate use of state
lottery funds under section 4, Article XV of the Oregon
Constitution, and ORS 461.510. + }
  SECTION 4.  { + 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. + }
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