2007 ORS § 327.705¹
Purpose of ORS 327.700 to 327.711

The Legislative Assembly declares that the purpose of ORS 327.700 (Definitions for ORS 327.700 to 327.711) to 327.711 (Payment of debt service) is to authorize lottery bonds for state education projects. The lottery bonds authorized by ORS 327.700 (Definitions for ORS 327.700 to 327.711) to 327.711 (Payment of debt service) shall be issued pursuant to ORS 286A.560 (Definitions for ORS 286A.560 to 286A.585 and 327.700 to 327.711) to 286A.585 (Lottery bonds for community sports facilities). The obligation of the State of Oregon with respect to the lottery bonds and with respect to any grant agreement or other commitment authorized by ORS 327.700 (Definitions for ORS 327.700 to 327.711) to 327.711 (Payment of debt service), 327.731 (Education project grants), 348.696 (Education Stability Fund) and 777.277 (Definitions for ORS 777.277 to 777.287) shall at all times be restricted to the availability of unobligated net lottery proceeds, proceeds of lottery bonds and any other amounts specifically committed by ORS 286A.560 (Definitions for ORS 286A.560 to 286A.585 and 327.700 to 327.711) to 286A.585 (Lottery bonds for community sports facilities). Neither the faith and credit of the State of Oregon nor any of its taxing power shall be pledged or committed to the payment of lottery bonds or any other commitment of the State of Oregon authorized by ORS 327.700 (Definitions for ORS 327.700 to 327.711) to 327.711 (Payment of debt service). [1997 c.612 §1; 1999 c.44 §11; 2007 c.783 §127]