Source: https://www.oregonlaws.org/ors/285B.551
Timestamp: 2019-09-23 20:10:33
Document Index: 260732182

Matched Legal Cases: ['§1', '§6', '§1', '§4', '§1', '§1', '§78', '§115', '§1', '§1', '§1', '§1', '§1', '§3', '§3', '§4', '§4', '§3', '§7', '§29', '§28', '§26', '§27']

ORS 285B.551 - Issuance of additional lottery bonds - 2017 Oregon Revised Statutes
2017 ORS Vol. 7 Chapter 285B Section 285B.551
2017 ORS 285B.551¹
(b) To fund Oregon’s share of the costs of the Columbia River channel deepening project.
(c) To fund Oregon’s share of the costs of studies and ecosystem restoration projects in the lower Columbia River estuary designed to improve habitat for listed endangered or threatened species of Columbia River anadromous salmonids.
(3)(a) The aggregate principal amount of lottery bonds issued pursuant to subsection (1)(a) of this section for financial and other assistance to municipalities, ports and other persons and entities may not exceed the sum of $336,226,252 and an additional amount estimated by the State Treasurer to be necessary to pay bond-related costs. The aggregate principal amount of lottery bonds issued pursuant to subsection (1)(b) of this section for the Columbia River channel deepening project may not exceed the sum of $17.7 million and an additional amount estimated by the State Treasurer to be necessary to pay bond-related costs.
(b) The Oregon Department of Administrative Services may not request the issuance of lottery bonds under subsection (1)(b) of this section until the Director of the Oregon Business Development Department determines that a final environmental impact statement has been issued and a record of decisions has been submitted to Congress by the United States Army Corps of Engineers, Congress has authorized the Columbia River channel deepening project, and the Washington sponsors’ shares of the costs of the Columbia River channel deepening project have been committed.
(6) The proceeds of lottery bonds issued pursuant to this section may be used only for the purposes set forth in this section and for bond-related costs. [1999 c.702 §1; 2001 c.96 §6; 2001 c.942 §1; 2003 c.741 §4; 2005 c.788 §1; 2007 c.746 §1; 2007 c.804 §78; 2009 c.830 §115; 2009 c.906 §1a; 2011 c.624 §1; 2013 c.786 §1; 2015 c.812 §1; 2017 c.748 §1]
Note: Section 3, chapter 786, Oregon Laws 2013, provides:
Sec. 3. Regional Infrastructure Fund. (1) The Regional Infrastructure Fund is established in the State Treasury, separate and distinct from the General Fund. Interest earned on the moneys in the Regional Infrastructure Fund shall be credited to the fund. The Regional Infrastructure Fund consists of moneys deposited in the fund under section 2, chapter 786, Oregon Laws 2013, and section 2, chapter 812, Oregon Laws 2015, and section 3 of this 2017 Act [section 3, chapter 748, Oregon Laws 2017], and may include fees, revenues or other income deposited into the fund by the Legislative Assembly.
(2) Moneys in the fund are continuously appropriated to the Oregon Business Development Department for disbursement to local governments for the purposes set forth in section 2, chapter 786, Oregon Laws 2013, and section 2, chapter 812, Oregon Laws 2015, and section 3 of this 2017 Act. [2013 c.786 §3; 2015 c.812 §3; 2017 c.748 §4]
Note: Section 4, chapter 812, Oregon Laws 2015, provides:
Sec. 4. Rules. (1) The Director of the Oregon Business Development Department, in accordance with ORS chapter 183, shall adopt rules necessary to administer programs or projects financed with moneys obtained pursuant to section 3, chapter 786, Oregon Laws 2013, and section 2 of this 2015 Act. The rules shall address procedures for authorizing infrastructure planning and research efforts, developing and evaluating grant and loan applications, awarding grants and loans from the Regional Infrastructure Fund and administering a grant and loan review committee, and may include other provisions the director determines necessary or convenient for the Oregon Business Development Department to perform its duties and responsibilities under section 3, chapter 786, Oregon Laws 2013, and section 2 of this 2015 Act.
(2) The rules must be developed in consultation with the Director of the Oregon Department of Administrative Services or the director’s designee. [2015 c.812 §4]
Note: Section 3, chapter 748, Oregon Laws 2017, provides:
Sec. 3. Lottery bonds to provide grants and loans to local governments for infrastructure projects. (1) For the biennium beginning July 1, 2017, at the request of the Oregon Department of Administrative Services, after the department consults with the Oregon Business Development Department, the State Treasurer is authorized to issue lottery bonds pursuant to ORS 286A.560 (Definitions for ORS 286A.560 to 286A.585 and 327.700 to 327.711) to 286A.585 (Lottery bonds for community sports facilities) in an amount that produces $4 million in net proceeds and interest earnings for the purposes described in subsection (2) of this section, plus an additional amount estimated by the State Treasurer to be necessary to pay bond-related costs.
(2) Net proceeds of lottery bonds issued under this section in an amount sufficient to provide $4 million in net proceeds and interest earnings must be transferred to the Oregon Business Development Department for deposit in the Regional Infrastructure Fund established in section 3, chapter 786, Oregon Laws 2013, to provide grants and loans to local governments for infrastructure projects, including long-range planning, research and design. The grants and loans are to be allocated based on recommendations of regionally based planning committees designated by the department.
(b) Integrated development of infrastructure will establish a foundation for expanding existing businesses and for developing and attracting new businesses. [2017 c.748 §3]
Note: Section 7a, chapter 66, Oregon Laws 2016, provides:
Sec. 7a. American Manufacturing Innovation District Fund. (1) The American Manufacturing Innovation District Fund is established in the State Treasury, separate and distinct from the General Fund. Interest earned on moneys in the American Manufacturing Innovation District Fund shall be credited to the fund. The fund consists of moneys deposited in the fund under section 7 of this 2016 Act and may include fees, revenues or other income deposited into the fund by the Legislative Assembly.
(2) Moneys in the American Manufacturing Innovation District Fund are continuously appropriated to the Oregon Business Development Department for the purpose described in section 7 of this 2016 Act. [2016 c.66 §7a]
Note: Section 29, chapter 748, Oregon Laws 2017, provides:
Sec. 29. Lottery bonds for construction of access roads. (1) For the biennium beginning July 1, 2017, at the request of the Oregon Department of Administrative Services, after the department consults with the Oregon Business Development Department, the State Treasurer is authorized to issue lottery bonds pursuant to ORS 286A.560 (Definitions for ORS 286A.560 to 286A.585 and 327.700 to 327.711) to 286A.585 (Lottery bonds for community sports facilities) in an amount that produces $3,390,000 in net proceeds and interest earnings for the purposes described in subsection (2) of this section, plus an additional amount estimated by the State Treasurer to be necessary to pay bond-related costs.
(2) Net proceeds of lottery bonds issued under this section in an amount sufficient to provide $3,390,000 in net proceeds and interest earnings must be transferred to the Oregon Business Development Department for deposit in the American Manufacturing Innovation District Fund established in section 7a, chapter 66, Oregon Laws 2016, for construction of access roads to the Oregon Manufacturing Innovation Center Research and Development Facility and Training Center.
(3) The Legislative Assembly finds that the use of lottery bonds proceeds with create jobs and further economic development, and is authorized based on the finding that the Oregon Manufacturing Innovation Center will enable and encourage the development of a robust manufacturing sector in the Oregon economy. [2017 c.748 §29]
Note: Section 28, chapter 748, Oregon Laws 2017, provides:
Sec. 28. OBDD Economic Development Distributions Fund. (1) The OBDD Economic Development Distributions Fund is established in the State Treasury, separate and distinct from the General Fund. Interest earned on the moneys in the OBDD Economic Development Distributions Fund consists of moneys deposited in the fund under sections 26 and 27 of this 2017 Act and may include fees, revenues or other income deposited into the fund by the Legislative Assembly.
(2) Moneys in the fund are continuously appropriated to the Oregon Business Development Department for purposes described in sections 26 and 27 of this 2017 Act. [2017 c.748 §28]
Note: Sections 26 and 27, chapter 748, Oregon Laws 2017, provide:
Sec. 26. Lottery bonds for Sweet Home Wastewater Treatment Plant. (1) For the biennium beginning July 1, 2017, at the request of the Oregon Department of Administrative Services, after the department consults with the Oregon Business Development Department, the State Treasurer is authorized to issue lottery bonds pursuant to ORS 286A.560 (Definitions for ORS 286A.560 to 286A.585 and 327.700 to 327.711) to 286A.585 (Lottery bonds for community sports facilities) in an amount that produces $2 million in net proceeds and interest earnings for the purposes described in subsection (2) of this section, plus an additional amount estimated by the State Treasurer to be necessary to pay bond-related costs.
(2) Net proceeds of lottery bonds issued under this section in an amount sufficient to provide $2 million in net proceeds and interest earnings must be transferred to the Oregon Business Development Department for deposit in the OBDD Economic Development Distributions Fund established under section 28 of this 2017 Act for distribution to the City of Sweet Home to upgrade the Sweet Home Wastewater Treatment Plant.
(a) Wastewater treatment systems are an integral part of the commercial and industrial infrastructure of this state.
(b) Improvement of a wastewater treatment plant will promote economic development within this state. [2017 c.748 §26]
Sec. 27. Lottery bonds for Crescent Sanitary District wastewater treatment facility. (1) For the biennium beginning July 1, 2017, at the request of the Oregon Department of Administrative Services, after the department consults with the Oregon Business Development Department, the State Treasurer is authorized to issue lottery bonds pursuant to ORS 286A.560 (Definitions for ORS 286A.560 to 286A.585 and 327.700 to 327.711) to 286A.585 (Lottery bonds for community sports facilities) in an amount that produces $3 million in net proceeds and interest earnings for the purposes described in subsection (2) of this section, plus an additional amount estimated by the State Treasurer to be necessary to pay bond-related costs.
(2) Net proceeds of lottery bonds issued under this section in an amount sufficient to provide $3 million in net proceeds and interest earnings must be transferred to the Oregon Business Development Department for deposit in the OBDD Economic Development Distributions Fund established under section 28 of this 2017 Act for distribution to the Crescent Sanitary District to build a wastewater treatment facility.
(b) Addition of a wastewater treatment facility will promote economic development within this state. [2017 c.748 §27]