2011 Oregon Revised Statutes
ORS Volume 8, Chapters 305 - 325
ORS Chapter 320
320.183 Long-term facilities plan for capital improvements.
(1) After deducting the costs of administering a construction tax and payment of refunds of such taxes, a school district shall use net revenues only for capital improvements.
(2) A construction tax may not be imposed under ORS 320.170 to 320.189 unless the school district imposing the tax develops a long-term facilities plan for making capital improvements. The plan shall be adopted by resolution of the district board of the school district.
(3) As used in this section, capital improvements :
(a) Means:
(A) The acquisition of land;
(B) The construction, reconstruction or improvement of school facilities;
(C) The acquisition or installation of equipment, furnishings or other tangible property;
(D) The expenditure of funds for architectural, engineering, legal or similar costs related to capital improvements and any other expenditures for assets that have a useful life of more than one year; or
(E) The payment of obligations and related costs of issuance that are issued to finance or refinance capital improvements.
(b) Does not include operating costs or costs of routine maintenance. [2007 c.829 6]
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