2017 Oregon Revised Statutes
Volume : 07 - Public Facilities, Finance
Chapter 285B - Economic Development II
Section 285B.456 - Levee Project Subaccount.
(1) The Levee Project Subaccount is established in the Special Public Works Fund established under ORS 285B.455. Interest earned by the Levee Project Subaccount shall be credited to the subaccount. Moneys in the subaccount are continuously appropriated to the Oregon Business Development Department for the purpose of providing financial assistance under ORS 285B.410 to 285B.482 for levee projects, as defined in ORS 285B.410.
(2) The department may accept grants, donations, contributions or gifts from any source for deposit in the Levee Project Subaccount. [2015 c.812 §1b]
Note: 285B.456 was enacted into law by the Legislative Assembly but was not added to or made a part of ORS chapter 285B or any series therein by legislative action. See Preface to Oregon Revised Statutes for further explanation.
Note: Section 2, chapter 748, Oregon Laws 2017, provides:
Sec. 2. (1) Net proceeds of lottery bonds issued under ORS 285B.551 during the biennium beginning July 1, 2017, in an amount sufficient to provide $10 million in net proceeds and interest earnings must be transferred to the Oregon Business Development Department for deposit in the Levee Project Subaccount, established in ORS 285B.456, for the purpose of providing financial assistance under ORS 285B.410 to 285B.482 for levee projects, as defined in ORS 285B.410.
(2) 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) Levees are an integral part of the commercial and industrial infrastructure of this state.
(b) The inspection, accreditation, certification and repair of levees will promote economic development within this state. [2017 c.748 §2]
