(1) There is established in the General Fund an account to be known as the University of Oregon Integrative Science Complex Account. Funds in the account shall be used for the construction, remodeling, expansion and renovation of facilities for an integrative science complex at the University of Oregon that includes a multiscale materials and devices laboratory and other facilities related to a signature research center.
(2) The account shall consist of proceeds from lottery bonds made available to the Oregon University System for the purpose of the University of Oregon integrative science complex project described in subsection (1) of this section. Interest earned on moneys in the account shall be credited to the account.
(3) Moneys in the account shall be considered to be General Fund moneys for purposes of section 1 (3), Article XI-G of the Oregon Constitution, and are continuously appropriated to the Department of Higher Education for the integrative science complex project described in subsection (1) of this section. The account may not be credited with more than $4,750,000 in interest and proceeds from lottery bonds. [2003 c.725 §10]
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Last modified: August 7, 2008