(a) Limit the issuance of bonds to projects or programs that require a minimum amount of state funding, as determined by the Legislative Assembly each biennium, and direct that projects or programs with funding needs that are under the minimum amount be funded with current resources; and
(b) Prohibit the issuance of bonds for ongoing operating expenditures of the state.
(2) This section does not require the Legislative Assembly to prohibit:
(a) Borrowing for ongoing operating expenditures of the state as authorized under ORS 286A.045;
(b) Borrowing to finance pension obligations under ORS 238.692 to 238.698;
(c) Borrowing to finance activities related to environmental remediation;
(d) The use of bond proceeds to pay for administration or management of projects or programs funded by the bond proceeds; or
(e) The use of interest or investment earnings on bond proceeds for ongoing operating expenditures. [2017 c.746 §14]
Copyright ©2024 LegalFix. All rights reserved. LegalFix is not a law firm, is not licensed to practice law, and does not provide legal advice, services, or representation. The information on this website is an overview of the legal plans you can purchase—or that may be provided by your employer as an employee benefit or by your credit union or other membership group as a membership benefit.
LegalFix provides its members with easy access to affordable legal services through a network of independent law firms. LegalFix, its corporate entity, and its officers, directors, employees, agents, and contractors do not provide legal advice, services, or representation—directly or indirectly.
The articles and information on the site are not legal advice and should not be relied upon—they are for information purposes only. You should become a LegalFix member to get legal services from one of our network law firms.
You should not disclose confidential or potentially incriminating information to LegalFix—you should only communicate such information to your network law firm.
The benefits and legal services described in the LegalFix legal plans are not always available in all states or with all plans. See the legal plan Benefit Overview and the more comprehensive legal plan contract during checkout for coverage details in your state.
Use of this website, the purchase of legal plans, and access to the LegalFix networks of law firms are subject to the LegalFix Terms of Service and Privacy Policy.