76th OREGON LEGISLATIVE ASSEMBLY--2012 Regular Session
Enrolled
House Bill 5201
Sponsored by JOINT COMMITTEE ON WAYS AND MEANS
CHAPTER ................
AN ACT
Relating to state financial administration; creating new
provisions; amending section 15, chapter 2, Oregon Laws 2009,
and section 1, chapter 614, Oregon Laws 2011; and declaring an
emergency.
Be It Enacted by the People of the State of Oregon:
SECTION 1. Section 1, chapter 614, Oregon Laws 2011, is amended
to read:
{ + Sec. 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:
____NOTE_TO_WEB_CUSTOMERS:__________________________________
THE FOLLOWING TABULAR TEXT MAY BE IRREGULAR.
FOR COMPLETE INFORMATION PLEASE SEE THE PRINTED MEASURE.
_______________________________________________________________
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 - }
{ +
(Art. XI-Q) $...200,645,000 + }
Dedicated Fund Obligations
Department of Veterans'
Affairs (Art. XI-A) $100,000,000
Oregon University System
{ -
(Art. XI-F(1)) $....84,844,570 - }
Enrolled House Bill 5201 (HB 5201-A) Page 1
{ +
(Art. XI-F(1)) $...166,722,070 + }
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 - }
{ +
Bonds $...748,829,070 + }
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 - }
{ +
lottery revenue bonds $...233,330,000 + }
State Department of Energy $25,000,000
Total Direct Revenue
{ -
Bonds $.1,329,065,000 - }
{ +
Bonds $.1,339,690,000 + }
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 - }
{ +
Total Revenue Bonds $.2,139,690,000 + }
CERTIFICATES OF PARTICIPATION
AND OTHER FINANCING AGREEMENTS
Oregon Department of
{ -
Administrative Services $....10,000,000 - }
Enrolled House Bill 5201 (HB 5201-A) Page 2
{ +
Administrative Services $....12,500,000 + }
____________________________________________________________
END OF POSSIBLE IRREGULAR TABULAR TEXT
____________________________________________________________
SECTION 2. { + (1) Except as provided in subsection (2) of
this section, for the biennium beginning July 1, 2011, at the
request of the Oregon Department of Administrative Services, in
consultation with the Department of Community Colleges and
Workforce Development, the State Treasurer is authorized to issue
lottery bonds pursuant to ORS 286A.560 to 286A.585 in an amount
not to exceed net proceeds of $9,604,450 for the purpose
described in subsection (3) of this section, plus an additional
amount, to be estimated by the State Treasurer, for payment of
bond-related costs.
(2) Not later than February 1, 2013, the State Debt Policy
Advisory Commission shall report to the State Treasurer whether
the state's lottery-backed debt capacity is sufficient to support
the issuance of the bonds described in subsection (1) of this
section. The State Treasurer may not issue lottery bonds pursuant
to subsection (1) of this section if the State Treasurer, after
considering the report of the commission, determines that the
state's lottery-backed debt capacity is not sufficient to support
the issuance of the bonds described in subsection (1) of this
section.
(3) Net proceeds of lottery bonds issued pursuant to this
section must be deposited in the Department of Community Colleges
and Workforce Development Capital Construction, Deferred
Maintenance and Capital Repair Project Fund established under
section 15, chapter 2, Oregon Laws 2009, as amended by section
12, chapter 906, Oregon Laws 2009.
(4) Bond-related costs for the lottery bonds authorized by this
section must be paid from the gross proceeds of the lottery bonds
and from allocations for the purposes of ORS 286A.576 (1)(c).
(5) The Legislative Assembly finds that issuing lottery bonds
to finance community college capital construction projects
pursuant to this section is essential to promoting the state's
economic development, and the use of lottery bond proceeds is
authorized based on the following findings:
(a) New buildings and facilities are needed for community
colleges to have adequate facilities for teaching.
(b) Development of community college infrastructure with a
focus on workforce preparation and development prioritized by all
17 community colleges in this state will serve to educate and
develop a future workforce essential to Oregon's economic
growth. + }
SECTION 3. Section 15, chapter 2, Oregon Laws 2009, as amended
by section 12, chapter 906, Oregon Laws 2009, is amended to read:
{ + Sec. 15. + } (1) The Department of Community Colleges and
Workforce Development Capital Construction, Deferred Maintenance
and Capital Repair Project Fund is established separate and
distinct from the General Fund. Interest earned by the Department
of Community Colleges and Workforce Development Capital
Construction, Deferred Maintenance and Capital Repair Project
Fund shall be credited to the fund.
(2) Net proceeds of lottery bonds issued pursuant to section
14, chapter 2, Oregon Laws 2009, { + and section 2 of this 2012
Act + } shall be deposited into the Department of Community
Colleges and Workforce Development Capital Construction, Deferred
Maintenance and Capital Repair Project Fund. Moneys in the fund
Enrolled House Bill 5201 (HB 5201-A) Page 3
are continuously appropriated to the Department of Community
Colleges and Workforce Development for the purpose of making
grants to community college districts for capital construction,
deferred maintenance, capital renewal, code compliance and safety
projects.
SECTION 4. { + This 2012 Act being necessary for the immediate
preservation of the public peace, health and safety, an emergency
is declared to exist, and this 2012 Act takes effect on its
passage. + }
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Enrolled House Bill 5201 (HB 5201-A) Page 4
Passed by House March 5, 2012
.............................................................
Ramona Kenady Line, Chief Clerk of House
.............................................................
Bruce Hanna, Speaker of House
.............................................................
Arnie Roblan, Speaker of House
Passed by Senate March 5, 2012
.............................................................
Peter Courtney, President of Senate
Enrolled House Bill 5201 (HB 5201-A) Page 5
Received by Governor:
......M.,............., 2012
Approved:
......M.,............., 2012
.............................................................
John Kitzhaber, Governor
Filed in Office of Secretary of State:
......M.,............., 2012
.............................................................
Kate Brown, Secretary of State
Enrolled House Bill 5201 (HB 5201-A) Page 6