2017 ORS 367.620¹
Limitation on bond amount

(1) The principal amount of Highway User Tax Bonds issued under ORS 367.615 (Bond issuance) shall be subject to the provisions of ORS 286A.035 (Bond budget authorization).

(2) Highway User Tax Bonds may be issued under ORS 367.615 (Bond issuance) for the purposes described in ORS 367.622 (Preservation and modernization projects funded by specified bonds) in an aggregate principal amount sufficient to produce net proceeds of not more than $500 million.

(3)(a) Highway User Tax Bonds may be issued under ORS 367.615 (Bond issuance) for bridge purposes described in section 10 (1), chapter 618, Oregon Laws 2003, in an aggregate principal amount sufficient to produce net proceeds of not more than $1.6 billion.

(b) Highway User Tax Bonds may be issued under ORS 367.615 (Bond issuance) for modernization purposes described in sections 10 (2) and 11, chapter 618, Oregon Laws 2003, in an aggregate principal amount sufficient to produce net proceeds of not more than $300 million.

(c) Highway User Tax Bonds may be issued under ORS 367.615 (Bond issuance) for the purposes described in section 64, chapter 865, Oregon Laws 2009, in an aggregate principal amount sufficient to produce net proceeds of not more than $840 million. The proceeds from bonds issued as described in this paragraph that are not required for the purposes described in section 64, chapter 865, Oregon Laws 2009, shall be allocated to transportation projects, as defined in ORS 367.010 (Definitions for chapter).

(d) The Department of Transportation, with the approval of the State Treasurer, may designate the extent to which a series of bonds authorized under this subsection is secured and payable on a parity of lien or on a subordinate basis to existing or future Highway User Tax Bonds. [1985 c.551 §4; 1999 c.1036 §4; 2001 c.669 §1; 2002 s.s.1 c.3 §1; 2003 c.618 §6; 2007 c.783 §171; 2009 c.865 §61; 2011 c.629 §2; 2017 c.191 §2]

Note: The amendments to 367.620 (Limitation on bond amount) by section 71i, chapter 750, Oregon Laws 2017, become operative January 1, 2020. See section 71k, chapter 750, Oregon Laws 2017. The text that is operative on and after January 1, 2020, is set forth for the user’s convenience.

367.620 (Limitation on bond amount). (1) The principal amount of Highway User Tax Bonds issued under ORS 367.615 (Bond issuance) shall be subject to the provisions of ORS 286A.035 (Bond budget authorization).

(2) Highway User Tax Bonds may be issued under ORS 367.615 (Bond issuance) for the purposes described in ORS 367.622 (Preservation and modernization projects funded by specified bonds) in an aggregate principal amount sufficient to produce net proceeds of not more than $500 million.

(3)(a) Highway User Tax Bonds may be issued under ORS 367.615 (Bond issuance) for bridge purposes described in section 10 (1), chapter 618, Oregon Laws 2003, in an aggregate principal amount sufficient to produce net proceeds of not more than $1.6 billion.

(b) Highway User Tax Bonds may be issued under ORS 367.615 (Bond issuance) for modernization purposes described in sections 10 (2) and 11, chapter 618, Oregon Laws 2003, in an aggregate principal amount sufficient to produce net proceeds of not more than $300 million.

(c) Highway User Tax Bonds may be issued under ORS 367.615 (Bond issuance) for the purposes described in section 64, chapter 865, Oregon Laws 2009, in an aggregate principal amount sufficient to produce net proceeds of not more than $840 million. The proceeds from bonds issued as described in this paragraph that are not required for the purposes described in section 64, chapter 865, Oregon Laws 2009, shall be allocated to transportation projects, as defined in ORS 367.010 (Definitions for chapter).

(d) Highway User Tax Bonds may be issued under ORS 367.615 (Bond issuance) for purposes described in section 71d, chapter 750, Oregon Laws 2017, in an aggregate principal amount sufficient to produce net proceeds of not more than $480 million.

(e) The Department of Transportation, with the approval of the State Treasurer, may designate the extent to which a series of bonds authorized under this subsection is secured and payable on a parity of lien or on a subordinate basis to existing or future Highway User Tax Bonds.

Note: Sections 64 to 66, chapter 865, Oregon Laws 2009, provide:

Sec. 64. (1) Except as provided in subsection (3)(e)(A) of this section, proceeds of the bonds, as defined in ORS 367.010 (Definitions for chapter), authorized under ORS 367.620 (Limitation on bond amount) (3)(c) may be used to finance all or any portion of the projects as listed in subsection (2) of this section. The Oregon Transportation Commission shall determine the order of completion for the projects listed in subsection (2) of this section.

(2) The following amounts are allocated for the projects listed below:

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(a) U.S. Highway 26 at the

Glencoe Road Interchange $ 21 million

(b) Interstate 84 at the

257th Avenue Interchange $ 27,669,288

(c) State Highway 212: Sunrise

Corridor, Phase I, Units 1,

2 and 3 $ 100 million

(d) U.S. Highway 26 at the Shute

Road Interchange, Phase I $ 53,947,687

(e) Interstate 5 at the Interstate

205 Interchange $ 7,330,712

(f) U.S. Highway 26: Cornelius

Pass Road to Cornell Road $ 22,052,313

(g) Interstate 205 and State

Highway 213 at the Washington

Street Interchange $ 22 million

(h) Interstate 84 at the Hood

River Interchange $ 10 million

(i) State Highway 43 at the

Sellwood Bridge Interchange $ 30 million

(j) State Highway 6 at U.S.

Highway 101 $ 27 million

(k) State Highway 99W: Newberg

and Dundee Bypass, Phase I $ 192 million

(L) Interstate 5 at the State

Highway 214 Interchange $ 49.5 million

(m) Interstate 5 at Beltline

Highway, Units 3, 4, 5,

6 and 7 $ 64 million

(n) Beltline Highway at

Delta Highway $ 8 million

(o) Interstate 5 at Kuebler

Road, Phase I $ 18.5 million

(p) Interstate 5 at Kuebler

Road, Phase II (Mill Creek) $ 4 million

(q) State Highway 42, county

line curves $ 10 million

(r) State Highway 62: Corridor

Solution, Phase II $ 100 million

(s) Interstate 5 at the Fern

Valley Road Interchange $ 25 million

(t) Interstate 5 Sutherlin

truck climbing lanes $ 4.1 million

(u) Interstate 5 Sexton truck

climbing lanes $ 10 million

(v) Interstate 84 at the U.S.

Highway 97 Interchange $ 19 million

(w) U.S. Highway 97: Crooked

River Bridge to Redmond $ 2 million

(x) State Highway 140:

Klamath Falls to the Nevada

state line $ 23 million

(y) Murphy Road at the U.S.

Highway 97 Interchange $ 25 million

(z) U.S. Highway 97: Redmond

reroute, Phase II $ 5 million

(aa) Chico Road reconstruction

in Baker County $ 621,083

(bb) Chandler Lane reconstruction

in Baker County $ 2,427,758

(cc) Interstate 84 Spring Creek

climbing lane in

Union County $ 5.7 million

(dd) Northwest Washington Avenue

in Malheur County $ 4.5 million

(ee) Pierce Road improvements

in Union County $ 5 million

(ff) State Highway 82 alternate

route in Wallowa County $ 5 million

(gg) Westland Road in Umatilla

County $ 1.1 million

(hh) State Highway 207 and State

Highway 206 intersections $ 0.5 million

(ii) Vehicle chain-up areas east

of Pendleton on Interstate

84 $ 4.7 million

(jj) Izee-Paulina Highway in

Grant County $ 4.5 million

(kk) Monroe Street and U.S.

Highway 20 Intersection

in Harney County $ 0.9 million

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(3)(a) When the commission determines that the project described in subsection (2)(a) of this section is completed, the commission shall reallocate any amount remaining from the allocation made under subsection (2)(a) of this section to the project described in subsection (2)(d) of this section.

(b) When the commission determines that the project described in subsection (2)(d) of this section is completed, the commission shall reallocate any amount remaining from the allocation made under subsection (2)(d) of this section to the project described in subsection (2)(f) of this section.

(c) When the commission determines that the project described in subsection (2)(m) of this section is completed, the commission shall reallocate any amount remaining from the allocation made under subsection (2)(m) of this section to the project described in subsection (2)(n) of this section.

(d) When the commission determines that the project described in subsection (2)(L) of this section is completed, the commission shall reallocate any amount remaining from the allocation made under subsection (2)(L) of this section to the project described in subsection (2)(j) of this section.

(e) Except as provided in paragraphs (a) to (d) of this subsection, when the commission determines that a transportation project listed in subsection (2) of this section is complete, the commission shall reallocate any amount remaining from the allocation for the completed transportation project:

(A) To transportation projects selected by the commission that are not listed in subsection (2) of this section and that leverage federal grant funds; or

(B) To transportation projects listed in subsection (2) of this section that are located within the same region as the completed transportation project. For purposes of this subparagraph, the regions are as follows:

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

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

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

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

(v) Region five consists of Baker, Grant, Harney, Malheur, Morrow, Umatilla, Union and Wallowa Counties.

(4) Prior to June 1, 2010, in addition to the projects listed in subsection (2) of this section, if projects are recommended to the Oregon Transportation Commission by the applicable local area commission on transportation after consultation with the local governments listed in this subsection, the Oregon Transportation Commission may also approve and allocate funds to the following local governments for projects approved by the commission in the following amounts:

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(a) Baker County $ 7,051,159

(b) Grant County $ 1.1 million

(c) Harney County $ 4.1 million

(d) Malheur County $ 5.8 million

(e) Union County $ 1.3 million

(f) Umatilla County $ 2.5 million

(g) City of Nyssa $ 1 million

(h) City of Heppner $ 3 million

(i) City of Milton-

Freewater $ 3 million

(j) City of Ontario $ 1.2 million

(k) Port of Umatilla $ 4.5 million

(L) Port of Morrow $ 10.7 million

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[2009 c.865 §64; 2012 c.55 §3; 2013 c.11 §1; 2015 c.344 §1; 2016 c.38 §1; 2017 c.191 §1]

Sec. 65. Nothing in this 2009 Act [chapter 865, Oregon Laws 2009] is intended to impair and may not impair the interests of the owners of any Highway User Tax Bonds that are outstanding on the effective date of this 2009 Act [September 28, 2009] or any obligations of the agreements of the Department of Transportation under its Amended and Restated Master Highway User Tax Revenue Bond Declaration dated June 1, 2006, as amended and supplemented. [2009 c.865 §65]

Sec. 66. Notwithstanding ORS 367.620 (Limitation on bond amount) (1), the provisions of ORS 286A.035 (Bond budget authorization) do not apply to bonds described in ORS 367.620 (Limitation on bond amount) (3)(c) for the biennium beginning July 1, 2009. [2009 c.865 §66]

Note: Section 1, chapter 55, Oregon Laws 2012, provides:

Sec. 1. On or before November 1 of each year, the Oregon Transportation Commission shall submit a report to the interim legislative committees related to transportation issues. The report must include the following components:

(1) The amount of funding available for reallocation as a result of completion of the transportation projects described in section 64, chapter 865, Oregon Laws 2009, for less than the amounts originally allocated for the projects.

(2) A list of transportation projects, ranked in order of priority by the commission, from the list of projects described in section 64, chapter 865, Oregon Laws 2009, that require additional funding to be completed. [2012 c.55 §1]

Note: Section 71d, chapter 750, Oregon Laws 2017, provides:

Sec. 71d. (1) The Oregon Transportation Commission shall use the proceeds of bonds, as defined in ORS 367.010 (Definitions for chapter), authorized under ORS 367.620 (Limitation on bond amount) (3)(d) to finance the transportation projects listed in this section. The commission shall determine the order of completion for the projects listed in subsection (2) of this section.

(2) No later than January 1, 2024, the commission shall allocate the following amounts to each region, as described in ORS 366.805 (Allocation of appropriation to cities), for the projects listed below, provided that the commission determines that the projects could constitutionally be funded by revenues described in Article IX, section 3a, of the Oregon Constitution:

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(a) Region 1: $ 249,700,000

(A) State Highway 211

improvements beginning where

the highway intersects with

State Highway 213 and ending

where the highway intersects

Molalla Avenue in the

City of Molalla

(B) WaNaPa Street improvements

in the City of Cascade

Locks

(C) Port of Hood River bridge

replacement environmental

impact study

(D) Columbia Boulevard

pedestrian safety

(E) Southeast Powell

Boulevard jurisdiction

transfer as described

under section 134

of this 2017 Act [366.483 (Transfer of jurisdiction of certain highways)]

(F) Interstate 205 active traffic

management project

(G) Interstate 205 corridor

bottleneck project

(H) State Highway 217

Northbound project

(I) State Highway 217

Southbound project

(J) Improvements to Graham

Road where it intersects

with Interstate 84 in

the City of Troutdale

(b) Region 2: $ 201,950,000

(A) Oregon Manufacturing

Innovation Center

Access Roads in Columbia

County

(B) Interstate 5 at the

Aurora-Donald interchange,

Phase I

(C) State Highway 99E in

the City of Halsey

(D) State Highway 214

pedestrian safety

improvements at the

intersection with

Jefferson Street in the

City of Silverton

(E) Territorial Highway

jurisdiction transfer

as described under

section 134 of this

this 2017 Act

(F) U.S. Highway 20 safety

upgrades from the

City of Albany to the

City of Corvallis

(G) State Highway 58, adding

passing lanes west of the

City of Oakridge

(H) State Highway 22 and Center

Street Bridge, seismic

retrofit in the City

of Salem

(I) State Highway 99 in

City of Eugene

jurisdiction transfer

as described

under section 134 of

this 2017 Act

(J) State Highway 126

Florence-Eugene

Highway for

environmental impact study

(K) 42nd Street in the City

of Springfield

(L) Newberg and Dundee Bypass,

State Highway 99W,

Phase II, design only

(c) Region 3: $ 75 million

(A) Scottsburg Bridge on

State Highway 38 in

Douglas County

(B) Southern Oregon seismic

triage transportation

project

(d) Region 4: $ 76,493,000

(A) U.S. Highway 97 Cooley

Road mid-term

improvements

(B) U.S. Highway 97 at

Terrabonne

(C) Improvements to Alder

Creek Road in

Wheeler County

(D) Pedestrian safety

improvements

in the City of Dufur

(E) Pedestrian safety

improvements in the

City of Prineville

(F) Tom McCall Road

roundabout

(G) Pedestrian safety

improvements

in the City of Arlington

(e) Region 5: $ 43,647,000

(A) Port of Umatilla Road

(B) Hermiston North First

Place Project in the

City of Hermiston

(C) State Highway 30 and

Hughes Lane intersection

in Baker County

(D) Eastern Oregon Trade and

Event Center access road

(E) Pedestrian safety

improvements in the

City of Heppner

(F) Pedestrian safety

improvements in the

City of Milton-Freewater

(G) Columbia Development

Authority Access Road

(H) Pedestrian safety

improvements

in the City of Burns

(I) Pedestrian safety

improvements

in the City of Irrigon

(J) U.S. Highway 20 freight

mobility enhancements

(K) Cedar Street and Hughes

Lane enhancements in

Baker County

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(3)(a) When the commission determines that a project described in this section is completed, the commission shall reallocate any amount remaining from the allocation made under this section to another project described in the same region.

(b) When the commission determines that all of the projects within a region are completed, the commission shall reallocate any amount remaining from the allocation made under this section to any other project listed in this section.

(4) The amounts described in this section for jurisdiction transfers described in section 134 of this 2017 Act may not be allocated until after the transfer for which the allocation is dedicated occurs. [2017 c.750 §71d]

Note: The reference to 367.620 (Limitation on bond amount) (3)(d) in section 71d (1), chapter 750, Oregon Laws 2017, applies to the version of 367.620 (Limitation on bond amount) that becomes operative January 1, 2020.

1 Legislative Counsel Committee, CHAPTER 367—Transportation Financing; Projects, https://­www.­oregonlegislature.­gov/­bills_laws/­ors/­ors367.­html (2017) (last ac­cessed Mar. 30, 2018).
 
2 OregonLaws.org contains the con­tents of Volume 21 of the ORS, inserted along­side the per­tin­ent statutes. See the preface to the ORS An­no­ta­tions for more information.
 
3 OregonLaws.org assembles these lists by analyzing references between Sections. Each listed item refers back to the current Section in its own text. The result reveals relationships in the code that may not have otherwise been apparent.