2013 Oregon Revised Statutes
Volume : 10 - Highways, Military, Juvenile Code, Human Services
Chapter 367 - Transportation Financing; Projects
Section 367.080 - Multimodal Transportation Fund.

(1) As used in ORS 367.080 to 367.086, "transportation project" has the meaning given that term in ORS 367.010.

(2) The Multimodal Transportation Fund is established separate and distinct from the General Fund. Earnings on moneys in the Multimodal Transportation Fund shall be deposited into the fund. Moneys in the Multimodal Transportation Fund are continuously appropriated to the Department of Transportation for the purposes described in subsection (3) of this section and in ORS 367.086.

(3) The department shall use moneys in the Multimodal Transportation Fund to provide grants and loans for transportation projects as provided in ORS 367.080 to 367.086. Grants and loans may be provided only for projects that involve one or more of the following modes of transportation:

(a) Air;

(b) Marine;

(c) Rail;

(d) Public transit; and

(e) Bicycle and pedestrian.

(4) All moneys received by the department as interest on loans made under this section and as repayment of principal of loans made under this section shall be deposited into the Multimodal Transportation Fund. [2005 c.816 §1; 2013 c.765 §1]

Note: 367.080 to 367.086 were enacted into law by the Legislative Assembly but were not added to or made a part of ORS chapter 367 or any series therein by legislative action. See Preface to Oregon Revised Statutes for further explanation.

Note: Sections 11 and 12, chapter 786, Oregon Laws 2013, provide:

Sec. 11. (1) For the biennium beginning July 1, 2013, at the request of the Oregon Department of Administrative Services, in consultation with the Department of Transportation, the State Treasurer is authorized to issue lottery bonds pursuant to ORS 286A.560 to 286A.585 in an amount that produces $42 million in net proceeds and interest earnings for the purpose 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 pursuant to this section and interest earnings must be transferred to the Department of Transportation for deposit in the Multimodal Transportation Fund established under ORS 367.080 in an amount sufficient to provide $42 million for the department to finance grants and loans for transportation projects as provided in ORS 367.080 to 367.086.

(3) 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).

(4) The Legislative Assembly finds that issuing lottery bonds to finance transportation 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) There is an urgent need to improve and expand publicly owned and privately owned transportation infrastructure to support economic development in this state.

(b) A safe, efficient and reliable transportation network supports the long-term economic development and livability of this state.

(c) A multimodal network of air, rail, public transit, highway and marine transportation moves people and goods efficiently.

(d) Local governments and private sector businesses often lack capital and the technical capacity to undertake multimodal transportation projects.

(e) Public financial assistance can stimulate industrial growth and commercial enterprise and promote employment opportunities in this state.

(f) Public investment in transportation infrastructure will create jobs and further economic development in this state.

(g) The use of lottery bond proceeds as provided in this section will create jobs, further economic development, finance public education or restore and protect parks, beaches, watersheds, and native fish and wildlife within Oregon, and issuance of lottery bonds for the purpose described in this section is therefore an appropriate use of state lottery funds under Article XV, section 4, of the Oregon Constitution, and ORS 461.510. [2013 c.786 §11]

Sec. 12. To the extent that proposed transportation projects meet the qualifications established by the Oregon Transportation Commission by rule, the commission shall allocate at least 10 percent of the net proceeds of the lottery bonds authorized by section 11 of this 2013 Act to each region described in this section. For purposes of this section, the regions are as follows:

(1) Region one consists of Clackamas, Columbia, Hood River, Multnomah and Washington Counties.

(2) Region two consists of Benton, Clatsop, Lane, Lincoln, Linn, Marion, Polk, Tillamook and Yamhill Counties.

(3) Region three consists of Coos, Curry, Douglas, Jackson and Josephine Counties.

(4) Region four consists of Crook, Deschutes, Gilliam, Jefferson, Klamath, Lake, Sherman, Wasco and Wheeler Counties.

(5) Region five consists of Baker, Grant, Harney, Malheur, Morrow, Umatilla, Union and Wallowa Counties. [2013 c.786 §12]