Bill Text: OR HB2723 | 2013 | Regular Session | Introduced

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Bill Title: Relating to school capital matching bonds; declaring an emergency.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Failed) 2013-07-08 - In committee upon adjournment. [HB2723 Detail]

Download: Oregon-2013-HB2723-Introduced.html

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     77th OREGON LEGISLATIVE ASSEMBLY--2013 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 1857

                         House Bill 2723

Sponsored by Representative KOMP

                             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 State Treasurer to issue Article XI-P general
obligation bonds to match general obligation bonds issued by
school districts for capital construction.
  Declares emergency, effective July 1, 2013.

                        A BILL FOR AN ACT
Relating to school capital matching bonds; and declaring an
  emergency.
Be It Enacted by the People of the State of Oregon:
  SECTION 1.  { + (1) Notwithstanding ORS 286A.798 (1)(b), in
addition to and not in lieu of any authorization to issue general
obligation bonds under ORS 286A.035, in the biennium beginning
July 1, 2013, the State Treasurer may issue Article XI-P bonds
in:
  (a) An amount that provides $___ of net proceeds, plus an
amount determined by the State Treasurer to pay estimated
bond-related costs.
  (b) The manner provided by ORS 286A.796 to 286A.806.
  (2) Subject to the standards applicable to moneys deposited in
the School Capital Matching Fund established under ORS 286A.806,
the State Board of Education shall prioritize the use of net
proceeds of bonds issued under this section for ___. + }
  SECTION 2.  { + This 2013 Act being necessary for the immediate
preservation of the public peace, health and safety, an emergency
is declared to exist, and this 2013 Act takes effect on July 1,
2013. + }
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