Chapter 574 Oregon Laws 2011

AN ACT

SB 5515

Relating to the financial administration of the Housing and Community Services Department; appropriating money; limiting expenditures; and declaring an emergency.

Be It Enacted by the People of the State of Oregon:

SECTION 1. There is appropriated to the Housing and Community Services Department, for the biennium beginning July 1, 2011, out of the General Fund, the amount of $9,548,033. The department may expend up to 54 percent of the amount appropriated under this section during the period beginning July 1, 2011, and ending June 30, 2012.

SECTION 2. Notwithstanding any other law limiting expenditures, the amount of $145,435,408 is established for the biennium beginning July 1, 2011, as the maximum limit for payment of expenses for operations, from fees, moneys or other revenues, including Miscellaneous Receipts and federal funds from the United States Department of Housing and Urban Development for contract services, but excluding lottery funds and federal funds not described in this section, collected or received by the Housing and Community Services Department.

SECTION 3. Notwithstanding any other law limiting expenditures, the amount of $11,277,724 is established for the biennium beginning July 1, 2011, as the maximum limit for payment of expenses from lottery moneys allocated from the Administrative Services Economic Development Fund to the Housing and Community Services Department for lottery bonds.

SECTION 4. Notwithstanding any other law limiting expenditures, the amount of $203,012,721 is established for the biennium beginning July 1, 2011, as the maximum limit for payment of expenses from federal funds other than those described in sections 2 and 5 of this 2011 Act collected or received by the Housing and Community Services Department.

SECTION 5. For the biennium beginning July 1, 2011, expenditures by the Housing and Community Services Department for the following are not limited:

(1) Payments for costs resulting from the sale and issuance or redemption of bonds issued under ORS 287A.360, 456.519, 456.645 and 456.650 (2005 Edition).

(2) Payment of debt service and redemption premium on bonds issued under ORS 287A.360, 456.519, 456.645 and 456.650 (2005 Edition) and payments for the purchase of bonds as provided in ORS 456.680.

(3) Loans and payments for purchasing, insuring and servicing loans as provided in ORS 456.625, 456.627, 456.635, 456.690, 456.705, 456.715 and 456.717 and payments for the purchase from lending institutions of securities backed by residential loans as provided in ORS 456.635 (1).

(4) Advances for development costs made in accordance with ORS 456.710.

(5) Pass-through payments of federal rent subsidy moneys from the United States Department of Housing and Urban Development.

(6) Payments for costs associated with asset protection.

SECTION 6. This 2011 Act being necessary for the immediate preservation of the public peace, health and safety, an emergency is declared to exist, and this 2011 Act takes effect July 1, 2011.

Approved by the Governor June 28, 2011

Filed in the office of Secretary of State June 29, 2011

Effective date July 1, 2011

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