Chapter 614
Oregon Laws 2011
AN ACT
HB 5005
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 2011-2013 biennium are as
follows:
GENERAL OBLIGATION BONDS
General
Fund Obligations
Oregon University System
(Art. XI-G) $ 17,608,000
Department of Community
Colleges and Workforce
Development (Art. XI-G) $ 24,500,000
Department of Environmental
Quality (Art. XI-H) $ 16,740,000
Oregon Military Department
(Art. XI-M) $ 7,614,000
Oregon Department of
Administrative Services
(Art. XI-Q) $ 186,685,000
Dedicated
Fund Obligations
Department of Veterans’
Affairs (Art. XI-A) $ 100,000,000
Oregon University System
(Art. XI-F(1)) $ 84,844,570
Water Resources Department
(Art. XI-I(1)) $ 15,000,000
Housing and Community Services
Department (Art. XI-I(2)) $ 50,000,000
State Department of
Energy (Art. XI-J) $ 150,000,000
Total General Obligation
Bonds $ 652,991,570
REVENUE BONDS
Direct
Revenue Bonds
Housing and Community
Services Department $ 300,000,000
Department of Transportation,
Oregon Transportation
Infrastructure Fund $ 18,360,000
Highway User Tax Bonds $ 663,000,000
Oregon Business Development
Department $ 100,000,000
Oregon Department of
Administrative Services
lottery revenue bonds $ 222,705,000
State Department of Energy $ 25,000,000
Total Direct Revenue
Bonds $ 1,329,065,000
Pass-Through
Revenue Bonds
Oregon Business Development
Department industrial
development bonds $ 125,000,000
Oregon Facilities Authority $ 550,000,000
Housing and Community Services
Department $ 125,000,000
Total Pass-Through Revenue
Bonds $ 800,000,000
Total Revenue Bonds $ 2,129,065,000
CERTIFICATES OF PARTICIPATION
AND OTHER FINANCING AGREEMENTS
Oregon Department of
Administrative Services $ 10,000,000
SECTION 2.
The amount authorized in section 1 of this 2011 Act for issuance of general
obligation bonds for the Water Resources Department under Article XI-I(1) of
the Oregon Constitution refers to the amount authorized in section 4, chapter
903, Oregon Laws 2009, and is not in addition to the amount authorized in
section 4, chapter 903, Oregon Laws 2009.
SECTION 3.
The amounts allocated for private activity bonds, as provided in ORS
286A.615, are as follows:
(1) For
the calendar year 2012,
the amount of $363,952,030
is allocated as follows:
(a) Oregon
Business
Development Department $ 40,000,000
(b) Housing
and Community
Services Department $ 125,000,000
(c) State
Department of Energy $ 15,000,000
(d) Private
Activity Bond
Committee $ 183,952,030
(2) For
the calendar year 2013,
the amount of $363,952,030
is allocated as follows:
(a) Oregon
Business
Development Department $ 40,000,000
(b) Housing
and Community
Services Department $ 125,000,000
(c) State
Department of Energy $ 15,000,000
(d) Private
Activity Bond
Committee $ 183,952,030
(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 $363,952,030 during the
2012 calendar year or $363,952,030
during the 2013 calendar year, the
increase is allocated to the
Private Activity Bond Committee.
SECTION 4. 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 July 6, 2011
Filed in the
office of Secretary of State July 6, 2011
Effective date
July 6, 2011
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