Relating to general obligation bonds; and declaring an emergency.
Catchline/Summary:
Provides that projects approved for financing by Legislative Assembly under Articles XI-F(1) and XI-G of Oregon Constitution prior to amendment to Articles XI-F(1) and XI-G at May 2010 primary election benefit higher education institutions or activities or benefit community colleges authorized by law to receive state aid. Provides that projects approved for financing by Legislative Assembly under Articles XI-F(1) and XI-G of Oregon Constitution prior to amendment to Articles XI-F(1) and XI-G at May 2010 primary election benefit higher education institutions or activities or benefit community colleges authorized by law to receive state aid.
Provides that for projects approved for financing by Legislative Assembly under Article XI-G of Oregon Constitution prior to amendment to Article XI-G at May 2010 primary election, required matching amounts may consist of deposit to state agency account or to account held by escrow agent, commercial bank or financial institution, or may consist of grant agreement, contract or intergovernmental agreement and are not required to be deposited in General Fund matching account.
Specifies that matching amounts for projects approved under Article XI-G of Oregon Constitution prior to amendment to Article XI-G at May 2010 primary election may consist only of types and sources of funds previously approved by Legislative Assembly.
Modifies community college and higher education general obligation bonding statutes to reflect amendment to Articles XI-F(1) and XI-G of Oregon Constitution.
Declares emergency, effective on passage.
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