(1) There is established in the General Fund an account to be known as the Southern Oregon University Library Account. Funds in the account shall be used for the construction of an addition to and the remodeling of a library at Southern Oregon University.
(2) The account shall consist of proceeds from lottery bonds and federal and local government funds made available to and funds donated to the Oregon University System for the purpose of the Southern Oregon University library 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 that purpose. The account may not be credited with more than $10,000,000 in interest, proceeds from lottery bonds, donations and federal and local government funds for purposes of this subsection. [2001 c.845 §13; 2003 c.674 §15]
Note: See note under 351.511.Section: Previous 351.517 351.518 351.519 351.520 351.521 351.522 351.523 351.524 351.525 351.526 351.527 351.528 351.529 351.530 351.531 Next
Last modified: August 7, 2008