Oregon Constitution

Article XI-L, § 2 — Sources of repayment

Oregon Const. art. XI-L, § 2

Oregon Const. art. XI-L, § 2 (Sources of repayment) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

JurisdictionOregonDocumentConstitution
ArticleXI-L
Section§ 2
CitationOregon Const. art. XI-L, § 2
Bluebook
Or. Const. art. XI-L, § 2.

Full Text

The principal, premium, if any, interest and any other amounts payable with respect to bonds issued under section 1 of this Article shall be repaid as determined by the Legislative Assembly from the following sources: (1) Amounts appropriated for such purpose by the Legislative Assembly from the General Fund, including any taxes levied to pay the bonds other than ad valorem property taxes; (2) Amounts allocated for such purpose by the Legislative Assembly from the proceeds of the State Lottery or from the Master Settlement Agreement entered into on November 23, 1998, by the State of Oregon and leading United States tobacco product manufacturers; and (3) Amounts appropriated or allocated for such purpose by the Legislative Assembly from other sources of revenue.

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History

Created through H.J.R. 19, 2001, and adopted by the people May 21, 2002