Proposing amendment to Oregon Constitution relating to school finance.
Catchline/Summary:
Proposes amendment to Oregon Constitution to exempt school districts, education service districts or community college districts from certain limitations on bonded indebtedness if bonded indebtedness was incurred for purpose of capital construction or capital improvements.Proposes revision of Oregon Constitution to allow state to issue general obligation bonds to provide matching funds to finance capital costs of school district facilities and to pay costs of issuing bonds. Creates school capital matching fund. Repeals school capital matching subaccount and transfers moneys in subaccount to school capital matching fund. Specifies sources of moneys for payment of indebtedness and interest.]
Refers proposed revision to people for their approval or rejection at next primary election.]
Proposes amendment to Oregon Constitution to exempt school districts, education service districts or community college districts from certain limitations on bonded indebtedness if bonded indebtedness was incurred for purpose of capital construction or capital improvements.
Refers proposed amendment to people for their approval or rejection at next regular general election.
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HJR 13 Senate Committee On Finance and Revenue
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