(1) There is established in the General Fund an account to be known as the Urban Center Phase I Project Account. Funds in the account shall be used for construction, remodeling and acquisition of land for the Urban Center Phase I.
(2) The account shall consist of federal and local government funds made available to and funds donated to the Oregon University System for the purposes of the Urban Center Phase I 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 shall not be credited with more than $7,865,000 in interest, donations and federal and local government funds for purposes of this subsection. [1997 c.584 §9; 2003 c.674 §17]
Note: See note under 351.523.Section: Previous 351.521 351.522 351.523 351.524 351.525 351.526 351.527 351.528 351.529 351.530 351.531 351.532 351.533 351.534 351.535 Next
Last modified: August 7, 2008