2015 Oregon Revised Statutes
Volume : 09 - Education and Culture
Chapter 327 - State Financing of Elementary and Secondary Education
Section 327.736

[1997 c.874 §1; repealed by 1999 c.44 §29]

LOTTERY BONDS FOR SCHOOLS

Note: Section 20, chapter 786, Oregon Laws 2013, provides:

Sec. 20. Lottery bonds for Frontier Digital Network. (1) For the biennium beginning July 1, 2013, at the request of the Oregon Department of Administrative Services, after the department consults with Wheeler County, the State Treasurer may issue lottery bonds pursuant to ORS 286A.560 to 286A.585 in an amount not to exceed $1 million in net proceeds 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 under this section in an amount sufficient to provide $1 million in net proceeds and interest earnings must be transferred to the department for deposit in the ODAS Economic Development Distributions Fund established in ORS 461.553 for distribution to Wheeler County for the Frontier Digital Network for the purpose of acquiring digital switching equipment needed to improve public safety services in Gilliam, Sherman and Wheeler Counties.

(3) The Legislative Assembly finds that the use of lottery bond proceeds will create jobs, further economic development, finance public education or restore and protect parks, beaches, watersheds and native fish and wildlife, and is authorized based on the finding that public safety is a necessary component of a climate that facilitates and encourages economic development. [2013 c.786 §20; 2014 c.121 §2]

Note: Sections 15, 17 and 20, chapter 812, Oregon Laws 2015, provide:

Sec. 15. Lottery bonds for construction of Faubion facility. (1) For the biennium beginning July 1, 2015, at the request of the Oregon Department of Administrative Services, after the department consults with Concordia University, the State Treasurer is authorized to issue lottery bonds pursuant to ORS 286A.560 to 286A.585 in an amount that produces $750,000 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 under this section in an amount sufficient to provide $750,000 in net proceeds and interest earnings must be transferred to the department for deposit in the ODAS Economic Development Distributions Fund established under ORS 461.553 for distribution to Concordia University for the purpose of funding the construction of the Faubion prekindergarten through grade eight school in partnership with Portland Public Schools.

(3) The Legislative Assembly finds that the use of lottery bond proceeds will create jobs, further economic development, finance public education or restore and protect parks, beaches, watersheds and native fish and wildlife, and is authorized based on the following findings:

(a) Lottery bonds issued under this section will finance public education by funding construction of a public school.

(b) Early education is a necessary component of a climate that facilitates and encourages economic development. [2015 c.812 §15]

Sec. 17. Lottery bonds for construction for Open School in Portland. (1) For the biennium beginning July 1, 2015, at the request of the Oregon Department of Administrative Services, after the department consults with Open Meadow, the State Treasurer is authorized to issue lottery bonds pursuant to ORS 286A.560 to 286A.585 in an amount that produces $1 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 under this section in an amount sufficient to provide $1 million in net proceeds and interest earnings must be transferred to the department for deposit in the ODAS Economic Development Distributions Fund established under ORS 461.553 for distribution to Open Meadow for the purpose of funding the construction of a new facility for the Open School in Portland.

(3) The Legislative Assembly finds that the use of lottery bond proceeds will create jobs, further economic development, finance public education or restore and protect parks, beaches, watersheds and native fish and wildlife, and is authorized based on the finding that improving educational outcomes for at-risk students will facilitate and encourage economic development. [2015 c.812 §17]

Sec. 20. Lottery bonds for construction of Career Technical Education Center. (1) For the biennium beginning July 1, 2015, at the request of the Oregon Department of Administrative Services, after the department consults with the Mountain West Career Technical Institute, the State Treasurer is authorized to issue lottery bonds pursuant to ORS 286A.560 to 286A.585 in an amount that produces $1 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 under this section in an amount sufficient to provide $1 million in net proceeds and interest earnings must be transferred to the department for deposit in the ODAS Economic Development Distributions Fund established under ORS 461.553 for distribution to the Mountain West Career Technical Institute for the purpose of funding construction of the Career Technical Education Center in Salem.

(3) The Legislative Assembly finds that the use of lottery bond proceeds will create jobs, further economic development, finance public education or restore and protect parks, beaches, watersheds and native fish and wildlife, and is authorized based on the finding that improving access to technical education for Oregonians entering the workforce will facilitate and encourage economic development. [2015 c.812 §20]