ORS 391.130
Allocation of lottery moneys to Regional Light Rail Extension Construction Fund

  • authorized expenditures
  • end of allocations upon certification by Director of Transportation

(1)

In each fiscal year beginning with the fiscal year commencing July 1, 1991, there is allocated, from the Administrative Services Economic Development Fund created by ORS 461.540 (Administrative Services Economic Development Fund), the amount of $8 million. However, commencing with the first fiscal year next following the fiscal year in which bonds are first issued under ORS 391.140 (Revenue bonds for specified light rail project), there shall be allocated from such fund the amount of $10 million in each fiscal year. In each fiscal year after bonds are first issued, the Director of Transportation shall certify any funds allotted in excess of amounts necessary to pay the annual debt service on the outstanding bonds and to fund the amounts committed to be paid in the current or any future fiscal year under any written agreement or commitment entered into by the Director of Transportation pursuant to ORS 391.120 (Regional Light Rail Extension Construction Fund) (2). The certified amount shall immediately be returned to the Administrative Services Economic Development Fund. All amounts allocated under this section shall be transferred to the Regional Light Rail Extension Construction Fund established by ORS 391.120 (Regional Light Rail Extension Construction Fund).

(2)

The annual amounts required to be transferred to the Regional Light Rail Extension Construction Fund under subsection (1) of this section, together with all investment earnings on the amounts on deposit from time to time in the Regional Light Rail Extension Construction Fund, are continuously appropriated only for the purposes of:

(a)

Funding the Westside corridor extension of light rail referred to in ORS 391.120 (Regional Light Rail Extension Construction Fund); and

(b)

Paying the principal and interest on revenue bonds issued under ORS 391.140 (Revenue bonds for specified light rail project).

(3)

Except as provided in subsection (4) of this section, and notwithstanding any other provision of law, the annual allocation made by this section shall be satisfied and credited as and when net proceeds from the operation of the state lottery are received and before any other allocation, appropriation or disbursement of the net proceeds from the operation of the state lottery is made in the applicable fiscal year.

(4)

For purposes of this section, net proceeds from the operation of the state lottery in each fiscal year include all revenues derived from the operation of the state lottery in each fiscal year less:

(a)

The revenues used in that fiscal year for the payment of prizes and the expenses of the state lottery as provided in Article XV, section 4 (4)(d), of the Oregon Constitution, ORS 461.500 (Lottery to be self-supporting) and 461.510 (State Lottery Fund) (3) and (4); and

(b)

The revenues required to be applied, distributed or allocated as provided in ORS 461.543 (Sports Lottery Account).

(5)

The transfer of moneys to the Regional Light Rail Extension Construction Fund authorized by this section shall cease when the Director of Transportation certifies in writing that transfers of moneys under this section are no longer necessary because:

(a)

Moneys in the Regional Light Rail Extension Construction Fund are sufficient for the payment of all amounts committed to be paid under all written agreements or commitments entered into between the Director of Transportation and the Tri-County Metropolitan Transportation District pursuant to ORS 391.120 (Regional Light Rail Extension Construction Fund) with respect to the Westside corridor extension of light rail referred to in ORS 391.120 (Regional Light Rail Extension Construction Fund) (2)(a), and to pay all amounts of principal of and interest on the outstanding revenue bonds issued under ORS 391.140 (Revenue bonds for specified light rail project); and

(b)

The Westside corridor extension of light rail referred to in ORS 391.120 (Regional Light Rail Extension Construction Fund) (2)(a) has been completed and such project has been accepted by the Department of Transportation, and all claims, suits and actions arising out of such project that could create a liability payable out of the moneys in the Regional Light Rail Extension Construction Fund have been resolved.

(6)

The Director of Transportation shall deliver a copy of such certification to the Governor and the State Treasurer. Upon receipt of the director’s written certification that transfer of moneys to the Regional Light Rail Extension Construction Fund under this section is no longer necessary, the State Treasurer shall thereafter credit moneys received by the Regional Light Rail Extension Construction Fund under this section to the Administrative Services Economic Development Fund created by ORS 461.540 (Administrative Services Economic Development Fund). [1991 c.575 §2; 1993 c.18 §92; 1997 c.249 §124; 2014 c.56 §2]

Source: Section 391.130 — Allocation of lottery moneys to Regional Light Rail Extension Construction Fund; authorized expenditures; end of allocations upon certification by Director of Transportation, https://www.­oregonlegislature.­gov/bills_laws/ors/ors391.­html.

391.090
Legislative findings
391.110
Legislative findings
391.120
Regional Light Rail Extension Construction Fund
391.125
Regional Light Rail Extension Bond Account
391.130
Allocation of lottery moneys to Regional Light Rail Extension Construction Fund
391.140
Revenue bonds for specified light rail project
391.150
Joint management of specified light rail project
391.301
Ratification of compact
391.306
Columbia River Light Rail Transit Compact
391.311
Effect of compact on powers and privileges of mass transit districts in Oregon and Washington
391.500
Declaration of policy
391.510
Definitions for ORS 391.500 to 391.660
391.520
Financing authority created
391.530
Meetings
391.540
Bylaws
391.550
Powers of Mass Transportation Financing Authority
391.560
Lease terms for facility financed by bonds
391.570
Bonds
391.580
Pledges for bonds
391.590
Bonds not general obligation of state
391.600
Tax exempt status of income, property and bond interest
391.605
Limitations on transfer to metropolitan service district
391.610
Expenses of authority
391.620
Limitation on transfer of property rights
391.630
Investments of surplus moneys
391.640
Investment in authority’s bonds authorized
391.650
Severability of ORS 391.500 to 391.660
391.660
Short title
391.800
Elderly and Disabled Special Transportation Fund
391.802
Definition for ORS 391.800 to 391.830
391.810
Distribution of funds to districts, Indian tribes and counties
391.815
Discretionary grant account
391.820
Advisory committees
391.830
Use of funds to finance and improve transportation for elderly individuals and individuals with disabilities
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