2011 ORS § 351.627¹
Account for capital construction
(1) An account in the Oregon University System Fund established by ORS 351.506 (Oregon University System Fund) is designated for the purpose of capital construction.
(2) The account designated by this section consists of moneys credited to the account, including moneys from the Administrative Services Economic Development Fund. Interest earned on moneys in the account is credited to the account.
(3) A building, facility or project to be funded from the account designated by this section may not be commenced and an expenditure for the building, facility or project may not be made or incurred except for land purchases and architectural or engineering planning until a plan for the building, facility or project has been submitted by the State Board of Higher Education to and approved by the Emergency Board. [1985 c.828 §5; 1989 c.966 §§37,73; 2009 c.762 §18]