Chapter 486 Oregon Laws 2005
AN ACT
HB 3415
Relating to proceeds of certain bonds.
Be It Enacted by the People of the State of
Oregon:
SECTION
1. (1) If the Department of
Transportation does not need the total $1.3 billion in bond proceeds authorized
by section 10 (1), chapter 618, Oregon Laws 2003, for replacement and repair of
the bridges described in subsection (2) of this section, the department shall
use the proceeds not needed for the bridges as follows:
(a)
Seventy-five percent for highway projects of statewide significance that are on
the list adopted by the Oregon Transportation Commission in May 2002; and
(b)
Twenty-five percent for freight projects that the Freight Advisory Committee
considered under section 11 (1)(a), chapter 618, Oregon Laws 2003.
(2) The bridges for which the bond proceeds described in subsection (1) of this section may be used are those bridges identified on the document issued by the Department of Transportation titled “Oregon Transportation Investment Act, State Bridge Projects, Summary of Progress on Bridges in Stages 1-5,” and dated January 2005.
Approved by the Governor July 7, 2005
Filed in the office of Secretary of State July 7, 2005
Effective date January 1, 2006
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