(1) There is established in the General Fund an account to be known as the Oregon State University Engineering Capital Construction Remodel Account. Funds in the account shall be used for the HP Building II Renovation project at Oregon State University for a microproducts breakthrough institute 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 Oregon State University capital construction 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 capital construction 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 §8; 2007 c.761 §31]
Note: See note under 351.509.Section: Previous 351.525 351.526 351.527 351.528 351.529 351.530 351.531 351.532 351.533 351.534 351.535 351.536 351.537 351.538 351.539 Next
Last modified: August 7, 2008