ORS 468.428: Lottery bonds.
Edition: 2025 EditionEffective: 2026-01-01Last verified: 2026-09-07
(1) Pursuant to ORS 286A.560 to 286A.585, lottery bonds may be issued to provide loans and other financial assistance to public agencies, as defined in ORS 468.423, for waste water pollution control, reduction or abatement as described in ORS 468.429. (2) The use of lottery bond proceeds is authorized upon the following findings: (a) Financial assistance for public agency waste water pollution control, reduction or abatement activities will result in additional wastewater treatment capacity in Oregon. (b) Wastewater treatment capacity comprises a portion of the physical foundation for industrial and commercial activities and provides a portion of the basic framework for continued and expanded economic opportunities throughout Oregon. (c) Such financial assistance will therefore further economic development within this state, making the use of net proceeds derived from the operation of the Oregon State Lottery to pay debt service on lottery bonds issued under this section to provide financial assistance to public agencies for wastewater pollution control, reduction or abatement activities an authorized use of state lottery funds under section 4, Article XV of the Oregon Constitution, and ORS 461.510. (3) The aggregate principal amount of lottery bonds issued pursuant to this section to provide financial assistance for public agency waste water pollution control, reduction or abatement activities shall not exceed $8 million and an additional amount estimated by the State Treasurer to be necessary to pay bond-related costs. Lottery bonds authorized by this section shall be issued only at the request of the Director of the Department of Environmental Quality. (4) The net proceeds of lottery bonds issued pursuant to this section shall be deposited in the Water Pollution Control Revolving Fund established by ORS 468.427. (5) The proceeds of lottery bonds issued pursuant to this section shall be used only for the purposes set forth in subsection (1) of this section and for bond-related costs. [2001 c.942 §3]
Official history and status
History: Note: 468.428 was enacted into law by the Legislative Assembly but was not added to or made a part of ORS chapter 468 or any series therein by legislative action. See Preface to Oregon Revised Statutes for further explanation.
Administrative rules citing this section
- OAR 340-054-0005: Purpose — implements
- OAR 340-054-0010: Definitions — implements
- OAR 340-054-0011: Authorized Fund Uses — implements
- OAR 340-054-0015: Clean Water State Revolving Fund Loans: Eligible Projects and Activities — implements
- OAR 340-054-0022: Clean Water State Revolving Fund Loans: Loan Application Requirements — implements
- OAR 340-054-0025: Clean Water State Revolving Fund Loans: Intended Use Plan (IUP) and Project Priority List — implements
- OAR 340-054-0026: Clean Water State Revolving Fund Loans: CWSRF Project Ranking Criteria for Loans — implements
- OAR 340-054-0036: Clean Water State Revolving Fund Loans to Public Agency Borrowers: Reserves, CWSRF General Fund and Project Funding — implements
- OAR 340-054-0056: Clean Water State Revolving Fund Loans: CWSRF Loan Use Conditions — implements
- OAR 340-054-0060: Clean Water State Revolving Fund Loans to Public Agency Borrower: Loan Agreement and Conditions — implements
- OAR 340-054-0065: Clean Water State Revolving Fund Loans to Public Agency Borrowers: Loan Types, Terms and Interest Rates — implements
- OAR 340-054-0066: Clean Water State Revolving Fund Loans to CDFI Borrowers: Loan Conditions and Agreements, Terms, and Interest Rates — implements
- OAR 340-054-0071: Purchase and Refinancing a Public Agency’s Debt Obligation: Debt Obligation Purchase — implements
- OAR 340-054-0072: Purchase and Refinancing of a Public Agency’s Debt Obligation: Bond Purchase — implements
- OAR 340-081-0005: Purpose — implements
- OAR 340-081-0010: Definitions — implements
- OAR 340-081-0015: Eligible Projects — implements
- OAR 340-081-0020: Eligible Costs — implements
- OAR 340-081-0026: Nature and Limitations of Financial Assistance — implements
- OAR 340-081-0031: Preliminary Request for Financial Assistance — implements
- OAR 340-081-0036: Prioritization of Preliminary Applications — implements
- OAR 340-081-0041: Priority Point Schedule — implements
- OAR 340-081-0046: Execution of Loan Agreement — implements
- OAR 340-081-0051: Loan Closing — implements
- OAR 340-081-0100: Rejection of Applications — implements
- OAR 340-081-0110: Assessment Deferral Loan Program Revolving Fund — implements
This rule cites
- ORS 468.423 — resolved
- ORS 468.429 — resolved
- ORS 461.510 — resolved
- ORS 468.427 — resolved
Cited by
No inbound citations found.
Official source: https://www.oregonlegislature.gov/bills_laws/ors/ors468.html