LOTTERY BONDS FOR SCHOOLS

Note: Sections 15, 17 and 20, chapter 812, Oregon Laws 2015, provide:

Sec. 15. Lottery bonds for construction of Faubion facility. (1) For the biennium beginning July 1, 2015, at the request of the Oregon Department of Administrative Services, after the department consults with Concordia University, the State Treasurer is authorized to issue lottery bonds pursuant to ORS 286A.560 to 286A.585 in an amount that produces $750,000 in net proceeds and interest earnings for the purpose described in subsection (2) of this section, plus an additional amount estimated by the State Treasurer to be necessary to pay bond-related costs.

(2) Net proceeds of lottery bonds issued under this section in an amount sufficient to provide $750,000 in net proceeds and interest earnings must be transferred to the department for deposit in the ODAS Economic Development Distributions Fund established under ORS 461.553 for distribution to Concordia University for the purpose of funding the construction of the Faubion prekindergarten through grade eight school in partnership with Portland Public Schools.

(3) The Legislative Assembly finds that the use of lottery bond proceeds will create jobs, further economic development, finance public education or restore and protect parks, beaches, watersheds and native fish and wildlife, and is authorized based on the following findings:

(a) Lottery bonds issued under this section will finance public education by funding construction of a public school.

(b) Early education is a necessary component of a climate that facilitates and encourages economic development. [2015 c.812 §15]

Sec. 17. Lottery bonds for construction for Open School in Portland. (1) For the biennium beginning July 1, 2015, at the request of the Oregon Department of Administrative Services, after the department consults with Open Meadow, the State Treasurer is authorized to issue lottery bonds pursuant to ORS 286A.560 to 286A.585 in an amount that produces $1 million in net proceeds and interest earnings for the purpose described in subsection (2) of this section, plus an additional amount estimated by the State Treasurer to be necessary to pay bond-related costs.

(2) Net proceeds of lottery bonds issued under this section in an amount sufficient to provide $1 million in net proceeds and interest earnings must be transferred to the department for deposit in the ODAS Economic Development Distributions Fund established under ORS 461.553 for distribution to Open Meadow for the purpose of funding the construction of a new facility for the Open School in Portland.

(3) The Legislative Assembly finds that the use of lottery bond proceeds will create jobs, further economic development, finance public education or restore and protect parks, beaches, watersheds and native fish and wildlife, and is authorized based on the finding that improving educational outcomes for at-risk students will facilitate and encourage economic development. [2015 c.812 §17]

Sec. 20. Lottery bonds for construction of Career Technical Education Center. (1) For the biennium beginning July 1, 2015, at the request of the Oregon Department of Administrative Services, after the department consults with the Mountain West Career Technical Institute, the State Treasurer is authorized to issue lottery bonds pursuant to ORS 286A.560 to 286A.585 in an amount that produces $1 million in net proceeds and interest earnings for the purpose described in subsection (2) of this section, plus an additional amount estimated by the State Treasurer to be necessary to pay bond-related costs.

(2) Net proceeds of lottery bonds issued under this section in an amount sufficient to provide $1 million in net proceeds and interest earnings must be transferred to the department for deposit in the ODAS Economic Development Distributions Fund established under ORS 461.553 for distribution to the Mountain West Career Technical Institute for the purpose of funding construction of the Career Technical Education Center in Salem.

(3) The Legislative Assembly finds that the use of lottery bond proceeds will create jobs, further economic development, finance public education or restore and protect parks, beaches, watersheds and native fish and wildlife, and is authorized based on the finding that improving access to technical education for Oregonians entering the workforce will facilitate and encourage economic development. [2015 c.812 §20]

Note: Section 18, chapter 671, Oregon Laws 2019, provides:

Sec. 18. Lottery bonds for construction of school-based health center. (1) For the biennium beginning July 1, 2019, at the request of the Oregon Department of Administrative Services, after the department consults with Multnomah County School District No. 7, the State Treasurer is authorized to issue lottery bonds pursuant to ORS 286A.560 to 286A.585 in an amount that produces $2,331,872 in net proceeds for the purposes described in subsection (2) of this section, plus an additional amount estimated by the State Treasurer to be necessary to pay bond-related costs.

(2) Net proceeds of lottery bonds issued under this section must be transferred to the department for deposit in the ODAS Economic Development Distributions Fund established under ORS 461.553 for distribution to Multnomah County School District No. 7 for construction of a school-based health center at Reynolds High School in Troutdale. The project also includes renovation of existing classroom space to establish a temporary health center that will be restored upon completion of the permanent health center.

(3) The Legislative Assembly finds that the use of lottery bond proceeds will create jobs, further economic development, finance public education or restore and protect parks, beaches, watersheds and native fish and wildlife, and is authorized based on the following findings:

(a) Funding construction of public school facilities finances public education; and

(b) Student access to healthcare services improves educational outcomes and attainment. [2019 c.671 §18]