ORS 367.620
Limitation on bond amount


(1)

The principal amount of Highway User Tax Bonds issued under ORS 367.615 (Bond issuance) shall be subject to the provisions of ORS 286A.035 (Bond budget authorization).

(2)

Highway User Tax Bonds may be issued under ORS 367.615 (Bond issuance) for the purposes described in ORS 367.622 (Preservation and modernization projects funded by specified bonds) in an aggregate principal amount sufficient to produce net proceeds of not more than $500 million.

(3)

(a) Highway User Tax Bonds may be issued under ORS 367.615 (Bond issuance) for bridge purposes described in section 10 (1), chapter 618, Oregon Laws 2003, in an aggregate principal amount sufficient to produce net proceeds of not more than $1.6 billion.

(b)

Highway User Tax Bonds may be issued under ORS 367.615 (Bond issuance) for modernization purposes described in sections 10 (2) and 11, chapter 618, Oregon Laws 2003, in an aggregate principal amount sufficient to produce net proceeds of not more than $300 million.

(c)

Highway User Tax Bonds may be issued under ORS 367.615 (Bond issuance) for the purposes described in section 64, chapter 865, Oregon Laws 2009, in an aggregate principal amount sufficient to produce net proceeds of not more than $840 million. The proceeds from bonds issued as described in this paragraph that are not required for the purposes described in section 64, chapter 865, Oregon Laws 2009, shall be allocated to transportation projects, as defined in ORS 367.010 (Definitions for chapter).

(d)

Highway User Tax Bonds may be issued under ORS 367.615 (Bond issuance) for purposes described in section 71d, chapter 750, Oregon Laws 2017, in an aggregate principal amount sufficient to produce net proceeds of not more than $480 million.

(e)

The Department of Transportation, with the approval of the State Treasurer, may designate the extent to which a series of bonds authorized under this subsection is secured and payable on a parity of lien or on a subordinate basis to existing or future Highway User Tax Bonds. [1985 c.551 §4; 1999 c.1036 §4; 2001 c.669 §1; 2002 s.s.1 c.3 §1; 2003 c.618 §6; 2007 c.783 §171; 2009 c.865 §61; 2011 c.629 §2; 2017 c.191 §2; 2017 c.750 §71i]
Note: Sections 64 to 66, chapter 865, Oregon Laws 2009, provide:
Sec. 64. (1) Except as provided in subsection (3)(e)(A) of this section, proceeds of the bonds, as defined in ORS 367.010 (Definitions for chapter), authorized under ORS 367.620 (Limitation on bond amount) (3)(c) may be used to finance all or any portion of the projects as listed in subsection (2) of this section. The Oregon Transportation Commission shall determine the order of completion for the projects listed in subsection (2) of this section.

(2)

The following amounts are allocated for the projects listed below:
______________________________________________________________________________

(a)

U.S. Highway 26 at the
Glencoe Road Interchange $ 21 million

(b)

Interstate 84 at the
257th Avenue Interchange $ 27,669,288

(c)

State Highway 212: Sunrise
Corridor, Phase I, Units 1,
2 and 3 $ 100 million

(d)

U.S. Highway 26 at the Shute
Road Interchange, Phase I $ 53,947,687

(e)

Interstate 5 at the Interstate
205 Interchange $ 7,330,712

(f)

U.S. Highway 26: Cornelius
Pass Road to Cornell Road $ 22,052,313

(g)

Interstate 205 and State
Highway 213 at the Washington
Street Interchange $ 22 million

(h)

Interstate 84 at the Hood
River Interchange $ 10 million

(i)

State Highway 43 at the
Sellwood Bridge Interchange $ 30 million

(j)

State Highway 6 at U.S.
Highway 101 $ 27 million

(k)

State Highway 99W: Newberg
and Dundee Bypass, Phase I $ 192 million

(L)

Interstate 5 at the State
Highway 214 Interchange $ 49.5 million

(m)

Interstate 5 at Beltline
Highway, Units 3, 4, 5,
6 and 7 $ 64 million

(n)

Beltline Highway at
Delta Highway $ 8 million

(o)

Interstate 5 at Kuebler
Road, Phase I $ 18.5 million

(p)

Interstate 5 at Kuebler
Road, Phase II (Mill Creek) $ 4 million

(q)

State Highway 42, county
line curves $ 10 million

(r)

State Highway 62: Corridor
Solution, Phase II $ 100 million

(s)

Interstate 5 at the Fern
Valley Road Interchange $ 25 million

(t)

Interstate 5 Sutherlin
truck climbing lanes $ 4.1 million

(u)

Interstate 5 Sexton truck
climbing lanes $ 10 million

(v)

Interstate 84 at the U.S.
Highway 97 Interchange $ 19 million

(w)

U.S. Highway 97: Crooked
River Bridge to Redmond $ 2 million

(x)

State Highway 140:
Klamath Falls to the Nevada
state line $ 23 million

(y)

Murphy Road at the U.S.
Highway 97 Interchange $ 25 million

(z)

U.S. Highway 97: Redmond
reroute, Phase II $ 5 million

(aa)

Chico Road reconstruction
in Baker County $ 621,083

(bb)

Chandler Lane reconstruction
in Baker County $ 2,427,758

(cc)

Interstate 84 Spring Creek
climbing lane in
Union County $ 5.7 million

(dd)

Northwest Washington Avenue
in Malheur County $ 4.5 million

(ee)

Pierce Road improvements
in Union County $ 5 million

(ff)

State Highway 82 alternate
route in Wallowa County $ 5 million

(gg)

Westland Road in Umatilla
County $ 1.1 million

(hh)

State Highway 207 and State
Highway 206 intersections $ 0.5 million

(ii)

Vehicle chain-up areas east
of Pendleton on Interstate
84 $ 4.7 million

(jj)

Izee-Paulina Highway in
Grant County $ 4.5 million

(kk)

Monroe Street and U.S.
Highway 20 Intersection
in Harney County $ 0.9 million
______________________________________________________________________________

(3)

(a) When the commission determines that the project described in subsection (2)(a) of this section is completed, the commission shall reallocate any amount remaining from the allocation made under subsection (2)(a) of this section to the project described in subsection (2)(d) of this section.

(b)

When the commission determines that the project described in subsection (2)(d) of this section is completed, the commission shall reallocate any amount remaining from the allocation made under subsection (2)(d) of this section to the project described in subsection (2)(f) of this section.

(c)

When the commission determines that the project described in subsection (2)(m) of this section is completed, the commission shall reallocate any amount remaining from the allocation made under subsection (2)(m) of this section to the project described in subsection (2)(n) of this section.

(d)

When the commission determines that the project described in subsection (2)(L) of this section is completed, the commission shall reallocate any amount remaining from the allocation made under subsection (2)(L) of this section to the project described in subsection (2)(j) of this section.

(e)

Except as provided in paragraphs (a) to (d) of this subsection, when the commission determines that a transportation project listed in subsection (2) of this section is complete, the commission shall reallocate any amount remaining from the allocation for the completed transportation project:

(A)

To transportation projects selected by the commission that are not listed in subsection (2) of this section and that leverage federal grant funds; or

(B)

To transportation projects listed in subsection (2) of this section that are located within the same region as the completed transportation project. For purposes of this subparagraph, the regions are as follows:

(i)

Region one consists of Clackamas, Hood River, Multnomah and Washington Counties.

(ii)

Region two consists of Benton, Clatsop, Columbia, Lane, Lincoln, Linn, Marion, Polk, Tillamook and Yamhill Counties.
(iii) Region three consists of Coos, Curry, Douglas, Jackson and Josephine Counties.

(iv)

Region four consists of Crook, Deschutes, Gilliam, Jefferson, Klamath, Lake, Sherman, Wasco and Wheeler Counties.

(v)

Region five consists of Baker, Grant, Harney, Malheur, Morrow, Umatilla, Union and Wallowa Counties.

(4)

Prior to June 1, 2010, in addition to the projects listed in subsection (2) of this section, if projects are recommended to the Oregon Transportation Commission by the applicable local area commission on transportation after consultation with the local governments listed in this subsection, the Oregon Transportation Commission may also approve and allocate funds to the following local governments for projects approved by the commission in the following amounts:
______________________________________________________________________________

(a)

Baker County $ 7,051,159

(b)

Grant County $ 1.1 million

(c)

Harney County $ 4.1 million

(d)

Malheur County $ 5.8 million

(e)

Union County $ 1.3 million

(f)

Umatilla County $ 2.5 million

(g)

City of Nyssa $ 1 million

(h)

City of Heppner $ 3 million

(i)

City of Milton-Freewater $ 3 million

(j)

City of Ontario $ 1.2 million

(k)

Port of Umatilla $ 4.5 million

(L)

Port of Morrow $ 10.7 million
______________________________________________________________________________
[2009 c.865 §64; 2012 c.55 §3; 2013 c.11 §1; 2015 c.344 §1; 2016 c.38 §1; 2017 c.191 §1]
Sec. 65. Nothing in this 2009 Act [chapter 865, Oregon Laws 2009] is intended to impair and may not impair the interests of the owners of any Highway User Tax Bonds that are outstanding on the effective date of this 2009 Act [September 28, 2009] or any obligations of the agreements of the Department of Transportation under its Amended and Restated Master Highway User Tax Revenue Bond Declaration dated June 1, 2006, as amended and supplemented. [2009 c.865 §65]
Sec. 66. Notwithstanding ORS 367.620 (Limitation on bond amount) (1), the provisions of ORS 286A.035 (Bond budget authorization) do not apply to bonds described in ORS 367.620 (Limitation on bond amount) (3)(c) for the biennium beginning July 1, 2009. [2009 c.865 §66]
Note: Section 71d, chapter 750, Oregon Laws 2017, provides:
Sec. 71d. (1) On and after January 1, 2020, the Oregon Transportation Commission shall use the proceeds of bonds, as defined in ORS 367.010 (Definitions for chapter), authorized under ORS 367.620 (Limitation on bond amount) (3)(d) to finance the transportation projects listed in this section. The commission shall determine the order of completion for the projects listed in subsection (2) of this section.

(2)

No later than January 1, 2024, the commission shall allocate the following amounts to each region, as described in ORS 366.805 (Allocation of appropriation to cities), for the projects listed below, provided that the commission determines that the projects could constitutionally be funded by revenues described in Article IX, section 3a, of the Oregon Constitution:
______________________________________________________________________________

(a)

Region 1: $ 249,700,000

(A)

State Highway 211
improvements beginning where
the highway intersects with
State Highway 213 and ending
where the highway intersects
Molalla Avenue in the
City of Molalla

(B)

WaNaPa Street improvements
in the City of Cascade Locks

(C)

Port of Hood River bridge
replacement environmental
impact study

(D)

Columbia Boulevard
pedestrian safety

(E)

Southeast Powell
Boulevard jurisdiction
transfer as described
under ORS 366.483 (Transfer of jurisdiction of certain highways)

(F)

Interstate 205 active traffic
management project

(G)

Interstate 205 corridor
bottleneck project

(H)

State Highway 217
Northbound project

(I)

State Highway 217
Southbound project

(J)

Improvements to Graham
Road where it intersects
with Interstate 84 in
the City of Troutdale

(b)

Region 2: $ 201,950,000

(A)

Oregon Manufacturing
Innovation Center Access
Roads in Columbia County

(B)

Interstate 5 at the
Aurora-Donald interchange,
Phase I

(C)

State Highway 99E in
the City of Halsey

(D)

State Highway 214
pedestrian safety
improvements at the
intersection with
Jefferson Street in the
City of Silverton

(E)

Territorial Highway
jurisdiction transfer as
described under ORS 366.483 (Transfer of jurisdiction of certain highways)

(F)

U.S. Highway 20 safety
upgrades from the
City of Albany to the
City of Corvallis

(G)

State Highway 58, adding
passing lanes west of the
City of Oakridge

(H)

State Highway 22 and Center
Street Bridge, seismic
retrofit in the City
of Salem

(I)

State Highway 99 in City of
Eugene jurisdiction transfer
as described under ORS 366.483 (Transfer of jurisdiction of certain highways)

(J)

State Highway 126
Florence-Eugene Highway for
environmental impact study

(K)

42nd Street in the City
of Springfield

(L)

Newberg and Dundee Bypass,
State Highway 99W,
Phase II, shovel ready
preparations

(c)

Region 3: $ 75 million

(A)

Scottsburg Bridge on
State Highway 38 in
Douglas County

(B)

Southern Oregon seismic
triage transportation
project

(d)

Region 4: $ 76,493,000

(A)

U.S. Highway 97 Cooley
Road mid-term
improvements

(B)

U.S. Highway 97 at
Terrebonne

(C)

Improvements to Alder
Creek Road in
Wheeler County

(D)

Pedestrian safety
improvements
in the City of Dufur

(E)

Pedestrian safety
improvements in the
City of Prineville

(F)

Tom McCall Road
roundabout

(G)

Pedestrian safety
improvements
in the City of Arlington

(e)

Region 5: $ 43,647,000

(A)

Port of Umatilla Road

(B)

Hermiston North First
Place Project in the
City of Hermiston

(C)

State Highway 30 and
Hughes Lane intersection
in Baker County

(D)

Eastern Oregon Trade and
Event Center access road

(E)

Pedestrian safety
improvements in the
City of Heppner

(F)

Pedestrian safety
improvements in the
City of Milton-Freewater

(G)

Columbia Development
Authority Access Road

(H)

Pedestrian safety
improvements
in the City of Burns

(I)

Pedestrian safety
improvements
in the City of Irrigon

(J)

U.S. Highway 20 freight
mobility enhancements

(K)

Cedar Street and Hughes
Lane enhancements in
Baker County
______________________________________________________________________________

(3)

(a) When the commission determines that a project described in this section is completed, the commission shall reallocate any amount remaining from the allocation made under this section to another project described in the same region.

(b)

When the commission determines that all of the projects within a region are completed, the commission shall reallocate any amount remaining from the allocation made under this section to any other project listed in this section.

(4)

The amounts described in this section for jurisdiction transfers described in ORS 366.483 (Transfer of jurisdiction of certain highways) may not be allocated until after the transfer for which the allocation is dedicated occurs. [2017 c.750 §71d; 2018 c.93 §5]

Source
Last accessed
May. 15, 2020