Oregon Statute | Act | Code |Title 31 Highways, Roads, Bridges And Ferries| US Code - US Statute

The Legislative Assembly finds that:

(1) The development, acquisition and construction of light rail
systems and their attendant rights of way, equipment and facilities in
the urban and metropolitan areas of the State of Oregon do and will
accomplish the purpose of creating jobs and furthering economic
development in Oregon by, among other advantages:

(a) Providing an important element of the public infrastructure
that provides the basic framework for continuing and expanding economic
activity in this state;

(b) Increasing the economy and efficiency of public transportation,
improving the attractiveness of urban and metropolitan areas to new
businesses and supporting the operations and prosperity of existing
businesses in those areas by making those businesses more accessible to
their customers and employees;

(c) Alleviating the inefficiencies of congestion and crowding
associated with, and reducing the burdens of expansion and maintenance
of, existing public transportation systems and facilities, as well as
reducing energy consumption and air pollution fostered by the use of
motor vehicles; and

(d) Creating employment opportunities in urban and metropolitan
areas through the funding of projects for the development and
construction of the light rail systems.

(2) Additionally, the provision of state and local moneys for the
proposed Westside corridor light rail project identified in ORS 391.120
(2)(a) will encourage the contribution of otherwise unavailable federal
matching grant moneys, the use of which will, for the reasons stated in
subsection (1) of this section, forward the purpose of creating jobs and
furthering economic development in Oregon.

(3) Based on the legislative findings described in this section,
the use of net proceeds from the operation of the state lottery for the
support of the Westside corridor light rail project, as provided in ORS
391.130, is an appropriate use of state lottery funds under section 4
(3), Article XV of the Oregon Constitution and ORS 461.510.

(4) It is the intent and policy of the Legislative Assembly to
insure the funding and support of the Westside corridor light rail
project identified in ORS 391.120 (2)(a) in the manner provided in ORS
391.130 to 391.150, to the extent required for the state to realize the
benefit of all federal matching funds made available for that project,
and to the extent necessary to complete the project. [1991 c.575 §1](1) There is created as a fund the Light Rail
Construction Fund separate and distinct from the General Fund. The moneys
in the fund and the interest earnings of the fund are appropriated
continuously to the Department of Transportation for the purpose of
financing that part of the Banfield Transitway Project that includes
construction of a light rail system from the City of Portland to the City
of Gresham to be routed along the corridor in which the Banfield Freeway,
Interstate Highway 205 and East Burnside Street are located.

(2) No moneys shall be expended for construction from the fund
created by subsection (1) of this section unless the Director of
Transportation determines that the following conditions have occurred no
later than the last day of June 1983:

(a) The United States Department of Transportation, subject to the
appropriations process and to the satisfaction of the Joint Committee on
Ways and Means or the Emergency Board, if the Legislative Assembly is not
in session, has committed sufficient moneys to complete the Banfield
Transitway Project; and

(b) The Tri-County Metropolitan Transportation District has entered
into a binding, enforceable agreement with the State of Oregon in which:

(A) During the construction of the Banfield Transitway Project, the
district agrees not to request or accept any state General Fund moneys
for the light rail construction portion of that project other than those
moneys appropriated to the fund created in this section by the Sixtieth
Legislative Assembly;

(B) The district agrees to provide not less than $2,930,000 of the
total funding for the light rail construction part of the Banfield
Transitway Project; and

(C) In any instance where the actual expenditures for the light
rail portion of the Banfield Transitway Project fall short of the
estimated expenditures for the project, those moneys, other than federal
moneys, that are not required for the project shall remain in the fund
established by this section.

(3) The Director of Transportation shall certify the unobligated
balance of the fund created by this section and that unobligated balance
shall revert to the General Fund in accordance with the following:

(a) If at any time the Director of Transportation determines that
the conditions required under subsection (2) of this section will not
occur within the required time under that subsection, the director shall
certify the unobligated balance of the fund and the unobligated balance
shall revert.

(b) If the Director of Transportation determines that the
conditions required under subsection (2) of this section have occurred
and moneys from the fund are expended on the Banfield Transitway Project,
the director shall certify the unobligated balance after the project is
accepted by the Director of Transportation and all claims, suits and
actions arising out of the project have been resolved. [1979 c.586 §1;
1981 c.262 §1] (1) The Legislative Assembly finds
that economic growth and livability depend on a solid transportation
infrastructure to aid in the production and distribution of goods and
services and the efficient movement of people.

(2) The Legislative Assembly also finds that an efficient surface
transportation system in our metropolitan areas must balance highways and
arterial roads with mass transit and light rail facilities. Mass transit
and light rail improvements can lessen the cost of highway expansion,
reconstruction and maintenance by significantly decreasing traffic flow.

(3) Therefore, the Legislative Assembly shall establish the
Regional Light Rail Extension Construction Fund as a means of
facilitating the development of a balanced surface transportation system
that includes the appropriate application of highways, light rail and
mass transit. [1989 c.868 §2](1) The Regional Light Rail Extension Construction Fund,
separate and distinct from the General Fund, is established in the State
Treasury. All moneys in the fund are appropriated continuously to the
Department of Transportation for the purposes specified in this section.
Interest received on moneys credited to the Regional Light Rail Extension
Construction Fund shall accrue to and become part of the Regional Light
Rail Extension Construction Fund.

(2) The Department of Transportation may expend moneys in the
Regional Light Rail Extension Construction Fund to finance the
preliminary engineering phase, final design phase, advanced right of way
acquisition phase or construction and acquisition of equipment and
facilities phase of projects for extensions to the Tri-County
Metropolitan Transportation District’s light rail system, as designated
in the Regional Transportation Plan adopted by the metropolitan service
district in 1989, as amended from time to time. The Director of
Transportation may enter into written agreements with the Tri-County
Metropolitan Transportation District that commit the department to pay
anticipated funds from the Regional Light Rail Extension Construction
Fund to the district for the purpose of financing such costs of extending
the district’s light rail system, including servicing any obligations
entered into by the district to finance the costs of extending the
district’s light rail system, which written agreements may provide for
the remittance of such funds on such periodic basis, in such amounts,
over such period of years and with such priority over other commitments
of such funds as the director shall specify in the commitment. Any such
written agreements or commitments, when executed by the director and
accepted by the district, shall be solely conditioned upon actual funds
available in the Regional Light Rail Extension Construction Fund and
shall be valid, binding and irrevocable in accordance with its terms,
subject only to the requirements of subsection (3) of this section. The
extensions to the light rail system for which projects may be authorized
and financed from the Regional Light Rail Extension Construction Fund
include:

(a) The Westside corridor.

(b) The Interstate 5 North corridor.

(c) The Interstate 205 corridor.

(d) The Milwaukie corridor.

(e) The Barbur corridor.

(f) The Lake Oswego corridor.

(g) Appropriate branches to the Banfield corridor.

(h) Appropriate branches to the corridors specified in paragraphs
(a) to (f) of this subsection.

(3) Notwithstanding any written agreement entered into by the
Director of Transportation under subsection (2) of this section, no
moneys shall be expended from the Regional Light Rail Extension
Construction Fund for the preliminary engineering phase, final design
phase, advanced right of way acquisition phase or construction and
acquisition phase of projects unless the Director of Transportation
determines:

(a) That all state and local approvals are in place for the phase
of the specific project for which funding is being sought;

(b) That assurances are in place for obtaining all moneys, other
than moneys for which the determination is being made, necessary to
enable completion of the phase of the specific project for which funding
is being sought and that the Tri-County Metropolitan Transportation
District has agreed to provide an amount of money equal to that being
provided by the Regional Light Rail Extension Construction Fund for the
phase of the specific project for which money is being sought;

(c) With respect to the phase of the specific project for which
funding is being sought, that the body of local officials and state
agency representatives designated by the metropolitan service district
which functions wholly or partially within the Tri-County Metropolitan
Transportation District and known as the Joint Policy Advisory Committee
on Transportation has certified that the phase of the specific project is
a regional priority; and

(d) With respect to construction phases of any project, the
elements of the project that are designated for state participation and
an estimated total amount of the state’s funding obligation.

(4) When the actual expenditures for a phase of a specific light
rail project fall short of the estimated expenditures for the project,
those moneys, other than federal moneys, that are not required for that
phase of the project shall remain in the Regional Light Rail Extension
Construction Fund for use in completing other projects described in
subsection (2) of this section.

(5) On or before August 31 in each year, the Director of
Transportation shall certify to the Governor and the State Treasurer
whether or not there existed, as of the end of the immediately preceding
fiscal year, an unobligated balance of moneys in the Regional Light Rail
Extension Construction Fund that was derived from the moneys required to
be transferred to the Regional Light Rail Extension Construction Fund
under ORS 391.130. If the Director of Transportation certifies that there
existed such an unobligated balance of moneys derived from the moneys
required to be transferred to the Regional Light Rail Extension
Construction Fund under ORS 391.130, an amount equal to the unobligated
balance as of the end of the immediately preceding fiscal year shall
revert to the Administrative Services Economic Development Fund created
by ORS 461.540, and the State Treasurer shall credit such amount to that
fund on or before the September 15 next following the date of the
certification by the Director of Transportation.

(6) The Director of Transportation shall certify the unobligated
balance of the Regional Light Rail Extension Construction Fund, and that
unobligated balance shall revert to the Administrative Services Economic
Development Fund created by ORS 461.540 if the Director of Transportation
determines that all projects referred to in subsection (2) of this
section have been completed and the projects have been accepted by the
Director of Transportation and all claims, suits and actions arising out
of the projects have been resolved.

(7) For purposes of subsections (5) and (6) of this section, moneys
in the Regional Light Rail Extension Construction Fund derived from the
moneys required to be transferred to the Regional Light Rail Extension
Construction Fund under ORS 391.130 shall be obligated to the extent such
moneys are needed to fund the amounts committed to be paid in the current
or any future fiscal year under any written agreement or commitment
entered into by the Director of Transportation under subsection (2) of
this section or to pay any amounts owing under or with respect to any
revenue bonds issued under ORS 391.140.

(8) The Department of Transportation may deduct from the Regional
Light Rail Extension Construction Fund the costs associated with
administering the fund. [1989 c.868 §3; 1991 c.575 §6] (1)
The Regional Light Rail Extension Bond Account is created as a separate
and distinct subaccount in the Regional Light Rail Extension Construction
Fund. In each fiscal year in which any amounts of principal or interest
are due and payable on any revenue bonds issued under ORS 391.140, the
Director of Transportation shall cause to be transferred from the
Regional Light Rail Extension Construction Fund to the Regional Light
Rail Extension Bond Account an amount, which, when added to the moneys on
deposit in the account that are available to be used for such purpose,
shall be sufficient to pay when due all amounts of principal and interest
coming due on such bonds in that fiscal year.

(2) All moneys on deposit from time to time in the Regional Light
Rail Extension Bond Account, together with all investment earnings
thereon, shall be pledged and are continuously appropriated to the
payment of the bonds issued under ORS 391.140. All investment earnings on
moneys on deposit from time to time in the Regional Light Rail Extension
Bond Account shall be retained in that account and applied to pay the
principal of and interest on bonds issued under ORS 391.140. [1991 c.575
§3](1) In each fiscal year
beginning with the fiscal year commencing July 1, 1991, there is
allocated, from the Administrative Services Economic Development Fund
created by ORS 461.540, the amount of $8 million. However, commencing
with the first fiscal year next following the fiscal year in which bonds
are first issued under ORS 391.140, there shall be allocated from such
fund the amount of $10 million in each fiscal year. In each fiscal year
after bonds are first issued, the Director of Transportation shall
certify any funds allotted in excess of amounts necessary to pay the
annual debt service on the outstanding bonds and to fund the amounts
committed to be paid in the current or any future fiscal year under any
written agreement or commitment entered into by the Director of
Transportation pursuant to ORS 391.120 (2). The certified amount shall
immediately be returned to the Administrative Services Economic
Development Fund. All amounts allocated under this section shall be
transferred to the Regional Light Rail Extension Construction Fund
established by ORS 391.120.

(2) The annual amounts required to be transferred to the Regional
Light Rail Extension Construction Fund under subsection (1) of this
section, together with all investment earnings on the amounts on deposit
from time to time in the Regional Light Rail Extension Construction Fund,
are continuously appropriated only for the purposes of:

(a) Funding the Westside corridor extension of light rail referred
to in ORS 391.120; and

(b) Paying the principal and interest on revenue bonds issued under
ORS 391.140.

(3) Except as provided in subsection (4) of this section, and
notwithstanding any other provision of law, the annual allocation made by
this section shall be satisfied and credited as and when net proceeds
from the operation of the state lottery are received and before any other
allocation, appropriation or disbursement of the net proceeds from the
operation of the state lottery is made in the applicable fiscal year.

(4) For purposes of this section, net proceeds from the operation
of the state lottery in each fiscal year include all revenues derived
from the operation of the state lottery in each fiscal year less:

(a) The revenues used in that fiscal year for the payment of prizes
and the expenses of the state lottery as provided in section 4 (4)(d),
Article XV of the Oregon Constitution, ORS 461.500 (2) and 461.510 (3)
and (4); and

(b) The revenues required to be applied, distributed or allocated
as provided in ORS 461.543.

(5) The transfer of moneys to the Regional Light Rail Extension
Construction Fund authorized by this section shall cease when the
Director of Transportation certifies in writing that transfers of moneys
under this section are no longer necessary because:

(a) Moneys in the Regional Light Rail Extension Construction Fund
are sufficient for the payment of all amounts committed to be paid under
all written agreements or commitments entered into between the Director
of Transportation and the Tri-County Metropolitan Transportation District
pursuant to ORS 391.120 with respect to the Westside corridor extension
of light rail referred to in ORS 391.120 (2)(a), and to pay all amounts
of principal of and interest on the outstanding revenue bonds issued
under ORS 391.140; and

(b) The Westside corridor extension of light rail referred to in
ORS 391.120 (2)(a) has been completed and such project has been accepted
by the Department of Transportation, and all claims, suits and actions
arising out of such project that could create a liability payable out of
the moneys in the Regional Light Rail Extension Construction Fund have
been resolved.

(6) The Director of Transportation shall deliver a copy of such
certification to the Governor and the State Treasurer. Upon receipt of
the director’s written certification that transfer of moneys to the
Regional Light Rail Extension Construction Fund under this section is no
longer necessary, the State Treasurer shall thereafter credit moneys
received by the Regional Light Rail Extension Construction Fund under
this section to the Administrative Services Economic Development Fund
created by ORS 461.540. [1991 c.575 §2; 1993 c.18 §92; 1997 c.249 §124](1) In
accordance with any applicable provisions of ORS 286.010, 286.020,
286.105 to 286.135 and ORS chapter 288, the State Treasurer, at the
request of the Director of Transportation, shall issue revenue bonds from
time to time in an aggregate amount not to exceed:

(a) The principal sum of $115 million;

(b) The costs incurred in connection with the issuance of the bonds
and other administrative expenses of the State Treasurer in connection
with the issuance of the bonds; and

(c) The amount of any reserves determined to be necessary or
advantageous in connection with the revenue bonds.

(2) The Director of Transportation shall submit to the State
Treasurer from time to time written requests to issue the revenue bonds
in amounts sufficient to provide in a timely fashion the moneys required
to fund the obligations of the Department of Transportation under any
written agreements or commitments entered into under ORS 391.120 (2) for
the purpose of financing the state share of the costs of the Westside
corridor light rail project identified in ORS 391.120 (2)(a).

(3) Moneys received from the issuance of revenue bonds, including
any investment earnings thereon, may be expended only for the purpose of
financing the costs of development, acquisition and construction of the
Westside corridor light rail project identified in ORS 391.120 (2)(a),
and to pay the costs of issuing the bonds and other administrative
expenses of the State Treasurer in carrying out the provisions of ORS
391.120 and this section, including the funding of any reserves
determined to be necessary or advantageous in connection with the revenue
bonds.

(4) Notwithstanding ORS 288.825 or any other provision of law,
revenue bonds issued under this section, regardless of whether issued in
one or more issues, shall be secured equally and ratably by the pledge of
moneys described in this subsection and ORS 391.130. The bonds shall be
secured by a pledge of, and a lien on, and shall be secured and payable
only from, moneys on deposit from time to time in the Regional Light Rail
Extension Construction Fund established by ORS 391.120. The revenue bonds
shall not be a general obligation of this state, and shall not be secured
by or payable from any funds or assets of this state other than the
moneys on deposit from time to time in the Regional Light Rail Extension
Construction Fund.

(5) The moneys in the Regional Light Rail Extension Bond Account
shall be used and applied by the Director of Transportation to pay when
due the principal of and interest on any revenue bonds issued under this
section.

(6) The interest on all revenue bonds issued under this section and
on any refunding and advance refunding bonds issued under ORS 286.051 is
exempt from personal income taxation imposed by this state under ORS
chapter 316.

(7) The proceeds derived from the issuance and sale of the revenue
bonds, including any proceeds required to fund any reserves determined to
be necessary or advantageous in connection with the revenue bonds, shall
be deposited in a special, segregated subaccount of the Regional Light
Rail Extension Construction Fund. The moneys on deposit from time to time
in the subaccount, including any investment earnings thereon, shall be
disbursed as needed for the purposes described in subsection (3) of this
section upon the written request of the Director of Transportation. [1991
c.575 §4](1) The Department of Transportation and the
Tri-County Metropolitan Transportation District shall jointly manage the
construction phases of the Westside corridor light rail project. The
final project management plans of the managing agencies shall provide
that the district shall manage and oversee construction of the light rail
right of way and facilities and that the department shall manage and
oversee the construction of highway improvements related to the extension
of the light rail system. The department and the district shall describe
in a memorandum of understanding or grant agreement the functions and
responsibilities assigned to each of the managing agencies and shall
establish an organizational and management system for the project under
which significant actions during the construction phase occur only with
the knowledge of both of the managing agencies.

(2) Subject to ORS 279.835 to 279.855 and ORS chapters 279A, 279B
and 279C and any applicable prohibitions against preferences in contracts
related to the construction phase of the Westside corridor light rail
project, the managing agencies shall develop procedures that afford
qualified businesses in Oregon the opportunity to compete for project
contracts to the maximum extent feasible and consistent with federal laws
and regulations governing Federal Transit Administration grants.

(3) The managing agencies shall seek the cooperation and assistance
of contracting and construction associations in this state when
establishing the contracting procedures for the Westside corridor light
rail project. The managing agencies shall also establish and implement
programs to provide contracting and construction businesses with
information relating to the project.

(4) The managing agencies, to the maximum extent feasible, shall
encourage disadvantaged business enterprises to bid for contracts and to
otherwise participate in the Westside corridor light rail project. [1991
c.575 §5; 1993 c.741 §65; 2003 c.794 §271]COLUMBIA RIVER LIGHT RAIL TRANSIT COMPACT The Legislative Assembly of the
State of Oregon hereby adopts and ratifies the Columbia River Light Rail
Transit Compact set forth in ORS 391.306, and the provisions of the
compact are hereby declared to be the law of this state upon such compact
becoming effective as provided in Article XXII of the compact. [1996 c.13
§1] The provisions
of the Columbia River Light Rail Transit Compact are as follows:

___________________________________________________________________________
___ARTICLE I

Columbia River Light Rail

Transit Authority Established

The States of Oregon and Washington establish by way of this
interstate compact an independent, separate regional authority, which is
an instrumentality of both of the signatory parties hereto, known as
Columbia River Light Rail Transit Authority (hereinafter referred to as
the “Authority”). The Authority shall be a body corporate and politic,
and shall have only those powers and duties granted by this compact and
such additional powers as may hereafter be conferred upon the Authority
by the acts of both signatories.

ARTICLE II

Definitions

As used in this compact, the following words and terms shall have
the following meanings, unless the context clearly requires a different
meaning:

(1) “C-TRAN” means the Clark County Public Transportation Benefit
Authority based in Clark County, Washington, or any successor agency or
authority.

(2) “Major feeder system” means all bus or other transit services
provided by C-TRAN or Tri-Met that are or are planned to be connected
with the South North light rail transit line, to accommodate the transfer
of passengers to or from the light rail line and to transport light rail
passengers between the light rail station and their trip origin or trip
destination.

(3) “Signatory” or “signatory state” means the State of Oregon or
the State of Washington.

(4) “South North light rail transit line” means the light rail line
directly connecting portions of Clackamas County, Oregon, Portland,
Oregon and Clark County, Washington as may be extended from time to time,
including any segment thereof, and also including, without limitation,
all light rail vehicles, rights-of-way, trackage, electrification,
stations, park-and-ride facilities, maintenance facilities, tunnels,
bridges and equipment, fixtures, buildings and structures incidental to
or required in connection with the performance of light rail service
between portions of Clackamas County, Oregon, Portland, Oregon and Clark
County, Washington. The South North light rail transit line shall include
a system that comprises any future light rail lines and transit
facilities that cross the jurisdictional lines of the signatory states.

(5) “Transit facilities” means all real and personal property
necessary or useful in rendering transit service by means of rail, bus,
water and any other mode of travel including, without limitation, tracks,
rights of way, bridges, tunnels, subways, rolling stock for rail, motor
vehicles, stations, terminals, areas for parking and all equipment,
fixtures, buildings and structures and services incidental to or required
in connection with the performance of transit service.

(6) “Transit service” means the transportation of persons and their
packages and baggage by C-TRAN, Tri-Met or the Authority by means of
transit facilities.

(7) “Tri-Met” means the Tri-County Metropolitan Transportation
District based in Portland, Oregon, or any successor agency or authority.

ARTICLE III

Purpose and Functions

The purpose of the Authority is:

(1) To generally cause the South North light rail transit line to
be designed, engineered, financed, constructed and developed consistently
with the applicable regional transportation and land use plans and the
locally preferred alternative selected pursuant to regulations of the
Federal Transit Administration or the regulations of any successor
federal agency or authority;

(2) To facilitate the operation and maintenance of the South North
light rail transit line;

(3) To coordinate C-TRAN and Tri-Met activities to implement and
operate the major feeder system that serves the South North light rail
transit line;

(4) To coordinate C-TRAN and Tri-Met activities to implement and
operate buses or other transit facilities that serve bi-state trips; and

(5) To serve only such other regional transit purposes and to
perform such other regional transit functions as the signatories may
authorize.

ARTICLE IV

Powers

The Authority has the power to:

(1) Sue and be sued, plead and be impleaded in all actions, suits
or proceedings, brought by or against it.

(2) Adopt suitable rules and regulations not inconsistent with this
compact, the Constitution and laws of the United States or the
constitutions and laws of the signatories. The Authority may adopt rules
and regulations that:

(a) Govern its activities;

(b) Add specificity to its powers and duties;

(c) Interpret legislation that is applicable to the Authority; and

(d) Resolve inconsistencies resulting from the application of the
laws and regulations of both signatories.

(3) Acquire, maintain, control, and convey easements, licenses, and
other limited property rights for the purpose of constructing the South
North light rail transit line. However, the Authority shall not have the
power to own real property.

(4) Receive and accept federal, state, regional or local payments,
appropriations, grants, gifts, loans, advances, credit enhancements,
credit guarantees and other funds, properties and services as may be
transferred or made available to the Authority by either signatory, any
political subdivision or agency thereof, by the United States, or by any
agency thereof, or by any other public or private corporation or
individual. Any funds received by the Authority from any source may be
commingled and expended to carry out the purposes and functions of the
Authority without regard to any law of the signatories that requires
expenditure of appropriated funds within the fiscal period for which the
appropriation is made.

(5) Disburse funds for its lawful activities and to make grants or
loans to C-TRAN or Tri-Met.

(6) Enter into agreements with:

(a) C-TRAN or Tri-Met to provide planning, engineering, design,
administration, construction management or other services needed for the
development of the South North light rail transit line;

(b) C-TRAN, Tri-Met or, except with regard to matters specified in
paragraph (a) of this subsection, private entities for the construction
of the South North light rail transit line;

(c) C-TRAN, Tri-Met or, except with regard to matters specified in
paragraph (a) of this subsection, private entities for the construction
of bridges over or tunnels under navigable streams and bodies of water to
be owned individually or jointly by the States of Oregon and Washington;

(d) C-TRAN or Tri-Met for the management, operation, and
maintenance of the South North light rail transit line;

(e) C-TRAN or Tri-Met providing for acquisition by C-TRAN, Tri-Met
or other public entities of the property rights needed for the South
North light rail transit line and related activities;

(f) C-TRAN, Tri-Met or private entities to purchase, lease or
otherwise acquire the materials, equipment and vehicles needed for the
construction and implementation of the South North light rail transit
line; and

(g) C-TRAN or Tri-Met to implement the decisions of the Authority.

(7) Delegate any of its powers and duties to any political
subdivision or governmental agency.

(8) Resolve any disputes between C-TRAN and Tri-Met over the
operation of the South North light rail transit line or the major feeder
system. However, the Authority shall not have the power to require from
C-TRAN and Tri-Met capital improvements to the South North light rail
transit line or the major feeder system.

(9) To the extent allowed by law, encourage, assist and facilitate
public and private development along the South North light rail transit
line.

(10) Perform all other necessary and incidental functions.

(11) Exercise such additional powers as shall be conferred on it by
Act of the federal Congress or jointly by the signatories.

ARTICLE V

Board Membership

The Authority shall be governed by a board of six directors
consisting of three members of the C-TRAN governing body and three
members of the Tri-Met governing body. Directors representing C-TRAN and
Tri-Met shall be appointed by their respective governing bodies.

ARTICLE VI

Terms of Office

Board members shall serve terms of four years, unless terminated
earlier by the governing body of the appointing transit agency.

ARTICLE VII

Compensation of Directors

The directors shall serve without compensation. The directors may
be reimbursed for the necessary expenses incurred in the performance of
their duties pursuant to adopted policies of the transit agency that
appointed them.

ARTICLE VIII

Organization and Procedure

The board of directors of the Authority shall by rule provide for
its own organization and procedure. It shall biennially elect a
chairperson from among its directors who shall serve a term of two years
subject to earlier removal by a vote of four directors. Meetings of the
board shall be held as frequently as the board deems that the proper
performance of its duties requires, and the board shall keep minutes of
its meetings. The board shall adopt rules and regulations governing its
meetings, minutes and transactions.

ARTICLE IX

Staff

The Authority shall not have the power to hire administrative
staff. Administrative staff support shall be provided by C-TRAN and
Tri-Met by intergovernmental agreement.

ARTICLE X

Quorum and Actions by the Board

Four directors shall constitute a quorum. No action by the board
shall be effective unless there is an affirmative vote of a majority of
those present.

ARTICLE XI

Conflicts of Interest

(1) No director shall:

(a) Be financially interested, either directly or indirectly, in
any contract, sale, purchase, lease or transfer of real or personal
property to which the board of directors of the Authority is party;

(b) In connection with services performed within the scope of
official duties, solicit or accept money or any other thing of value in
addition to the expenses paid to the director by the Authority; or

(c) Offer money or any other thing of value for or in consideration
of obtaining an appointment, promotion or privilege in employment with
the Authority.

(2) Any director who willfully violates any provision of this
section shall, in the discretion of the board, forfeit the office of the
director. Any contract or agreement made in contravention of this section
may be declared void by the board. Nothing in this section shall be
considered to abrogate or limit the applicability of any federal or state
law that may be violated by any action proscribed by this section.

ARTICLE XII

Financial Plans and Reports

The board of directors of the authority shall make and publish, as
necessary, financial plans and detailed annual budgets for the
construction, operation and maintenance of the South North light rail
transit line, including a Sources of Funds plan. The board may also
prepare, publish and distribute such other public reports and
informational materials as it may deem necessary or desirable.

ARTICLE XIII

Operation and Maintenance Costs

(1) The Authority shall annually determine the amount of the South
North light rail transit line’s operating and maintenance costs and the
Authority’s administrative costs that shall be contributed to the
Authority by C-TRAN and Tri-Met. The amount to be collected from C-TRAN
and Tri-Met shall be based upon all relevant factors, including but not
limited to, ridership origination and destination and relative usage of
the South North light rail transit line.

(2) After establishing the amount to be allocated to C-TRAN and
Tri-Met, the Authority shall levy an annual assessment on C-TRAN and
Tri-Met for the purpose of financing the management, administration,
operation, maintenance, repair, expansion, and related activities for
facilities, equipment, systems or improvements included in the South
North light rail transit line.

ARTICLE XIV

Capital Contributions

(1) The Authority shall enter into a financing plan agreement with
C-TRAN, Tri-Met and any private entities providing construction financing
for the South North light rail transit line or any segment thereof, which
agreement shall establish a financing plan for the construction phases of
the South North light rail transit line, including each segment thereof.
The financing plan agreement shall specify the obligations of each party
to pay a portion of the construction costs of the South North light rail
transit line, including the estimated total construction costs, the
percentage share of each party of the total construction costs, the
estimated schedule for the payment of each party’s percentage share and
the planned source of funds from which each party intends to fund its
share of the total construction costs. The financing plan agreement,
among other matters, may:

(a) Separately specify each party’s obligation for each segment of
the South North light rail transit line;

(b) Limit the liability of C-TRAN and Tri-Met to particular funding
sources identified in the financing plan agreement;

(c) Make provisions for any interim financing, credit enhancements
or guarantees to be provided by C-TRAN, Tri-Met or any other parties in
order to supply the funds needed to construct the South North light rail
transit line in accordance with the construction schedule established in
the financing plan agreement; or

(d) Provide that all or a portion of one party’s obligations shall
be satisfied by making payments to another party to the agreement in
order to pay or reimburse the construction or financing costs incurred by
the payee.

(2) The financing plan agreement shall provide that C-TRAN and
Tri-Met shall each retain full power and authority to pledge their
respective sources of funds as security for any bonds, notes or other
obligations issued thereby, and for any credit enhancements obtained in
connection with any such bonds, notes or other obligations, in order to
provide interim or permanent financing for the construction costs of the
South North light rail transit line. The financing plan agreement shall
not in any way or to any extent create a pledge of or a lien or
encumbrance on any funds of C-TRAN or Tri-Met.

(3) C-TRAN and Tri-Met singly or together shall enter into one or
more Full Funding Grant Agreements with the Federal Transit
Administration, or its successor, to establish the federal funding
commitment for the South North light rail transit line, or any segments
thereof, and the terms and conditions for obtaining the federal funds.
The Authority shall cause the South North light rail transit line, and
each segment thereof, to be designed, engineered and constructed in a
manner consistent with the applicable Full Funding Grant Agreement,
applicable state laws and the terms and conditions of the financing plan
agreement.

(4) The financing plan agreement may be amended from time to time
by the Authority, C-TRAN and Tri-Met to the extent such parties determine
any amendment is necessary or beneficial. Any such amendment shall
require the consent of any private entity that is a party to the
financing plan agreement only if and to the extent such consent is
required under the terms of the financing plan agreement.

ARTICLE XV

Indemnification

(1) C-TRAN shall hold Tri-Met and the Authority harmless and
indemnify Tri-Met and the Authority for any and all liability,
settlements, losses, costs, damages and expenses in connection with any
action, suit or claim resulting from C-TRAN’s negligent errors, omissions
or acts in carrying out the purposes of this compact.

(2) Tri-Met shall hold C-TRAN and the Authority harmless and
indemnify C-TRAN and the Authority for any and all liability,
settlements, losses, costs, damages and expenses in connection with any
action, suit or claim resulting from Tri-Met’s negligent errors,
omissions or acts in carrying out the purposes of this compact.

(3) The Authority shall hold C-TRAN and Tri-Met harmless and
indemnify C-TRAN and Tri-Met for any and all liability, settlements,
losses, costs, damages and expenses in connection with any action, suit
or claim resulting from the Authority’s negligent errors, omissions or
acts in carrying out the purposes of this compact.

ARTICLE XVI

Fares

Fares will be established and collected by C-TRAN and Tri-Met for
trips originating within their respective districts. Payment of those
fares will be honored by the Authority as payment for passage on the
South North light rail transit line.

ARTICLE XVII

Insurance

The board of directors of the Authority may self-insure or purchase
insurance and pay the premiums therefor against loss or damage, against
liability for injury to persons or property and against loss of revenue
from any cause whatsoever. Such insurance coverage shall be in such form
and amount as the board may determine, subject to the requirements of any
agreement or other obligations of the Authority.

ARTICLE XVIII

Tax Exemption

(1) It is hereby declared that the creation of the Authority and
the carrying out of the purposes of the Authority is in all respects for
the benefit of all people of the signatory states. It is further declared
that the Authority and the board of directors are performing a public
purpose and an essential government function, including, without
limitation, proprietary, governmental and other functions, in the
exercise of the powers conferred by this compact. Therefore, the
Authority and the board of directors shall not be required to pay taxes
or assessments upon any of the property under its jurisdiction, control,
possession or supervision or upon its activities in the operation and
maintenance of the South North light rail transit line or upon any
revenues therefrom.

(2) When C-TRAN or Tri-Met, acting under an agreement with the
Authority pursuant to Article IV of this compact, possesses or controls
property or conducts activities in the operation and maintenance of the
South North light rail transit line:

(a) C-TRAN and Tri-Met shall remain subject to the tax laws of
their respective states with respect to such property located, or
activities conducted, within their respective states;

(b) C-TRAN shall be subject to the tax laws of the State of Oregon
with respect to such property located, or activities conducted, in Oregon
only to the extent Tri-Met would be subject to those laws if Tri-Met
rather than C-TRAN possessed or controlled the property or conducted the
activity; and

(c) Tri-Met shall be subject to the tax laws of the State of
Washington with respect to such property located, or activities
conducted, in Washington only to the extent C-TRAN would be subject to
those laws if C-TRAN rather than Tri-Met possessed or controlled the
property or conducted the activity.

ARTICLE XIX

Applicable Laws

The Authority shall be both subject to and exempt from certain laws
of the States of Oregon and Washington as concurred in by the legislature
of each state, respectively. Where the laws of the States of Oregon and
Washington are not made inapplicable to the Authority by legislative
action, the laws of the respective states will continue to apply to
activities occurring within each state’s geographical boundaries.
However, the following laws shall apply generally to the Authority
regardless of the state in which the activities governed by the laws
occur. The following laws shall govern exclusively the matters they
address, and the provisions of corresponding or analogous laws of either
signatory shall have no effect:

(1) Federal Administrative Procedures Act (5 U.S.C. 500 et seq.),
as amended from time to time, or any successor legislation;

(2) Federal Miller Act (40 U.S.C. 270a et seq.), as amended from
time to time, or any successor legislation;

(3) Federal prevailing wage law (40 U.S.C. 276a et seq.), as
amended from time to time, or any successor legislation;

(4) Federal rules on disadvantaged business enterprises (49 C.F.R.
Part 23), as amended from time to time, or any successor legislation;

(5) Federal competitive bidding laws (41 U.S.C. 251 et seq.), as
amended from time to time, or any successor legislation; and

(6) ORS 30.260 to 30.300 (1993 Edition).

ARTICLE XX

Jurisdiction of Courts

(1) The United States District Courts shall have original
jurisdiction, concurrent with the courts of Oregon and Washington, of all
actions brought by or against the Authority and shall enforce subpoenas
issued under this Compact. Any such action initiated in a state court
shall be removable to the appropriate United States District Court in the
manner provided by the Act of June 25, 1948, as amended (28 U.S.C. 1446).

(2) All laws or parts of laws of the United States and of the
signatory states that are inconsistent with the provisions of this
compact are hereby amended for the purpose of this compact to the extent
necessary to eliminate such inconsistencies and to carry out the
provisions of this compact.

ARTICLE XXI

Severability

If any provision of this compact, or its application to any person
or circumstance, is held to be invalid, all other provisions of this
compact, and the application of all of its provisions to all other
persons and circumstances, shall remain valid and to this end, the
provisions of this compact are severable.

ARTICLE XXII

Effective Date

This compact shall take effect, and the board of the Authority may
exercise its authority pursuant to the compact when it has been ratified
by the federal Congress and adopted by both signatories, and the six
directors of the board have been appointed. The effective date of this
compact shall be the date of the establishment of the board of directors
of the Authority.

___________________________________________________________________________
___ [1996 c.13 §2](1) A mass transit district
established under ORS 267.010 to 267.390, when operating under the
authority or direction of the Columbia River Light Rail Transit Authority
established under the Columbia River Light Rail Transit Compact ratified
by ORS 391.301, retains all the rights, powers, privileges and immunities
conferred upon the district by ORS 267.010 to 267.390 to the extent that
those rights, powers, privileges and immunities are consistent with the
provisions of the Columbia River Light Rail Transit Compact.

(2) A mass transit agency organized under the laws of the State of
Washington, when operating in Oregon under the authority or direction of
the Columbia River Light Rail Transit Authority established under the
Columbia River Light Rail Transit Compact ratified by ORS 391.301, may
exercise all of the rights, powers, privileges and immunities conferred
upon a mass transit district by ORS 267.010 to 267.390 to the extent that
those rights, powers, privileges and immunities are consistent with the
provisions of the Columbia River Light Rail Transit Compact. [1996 c.13
§3]SOUTH METRO COMMUTER

RAIL PROJECTNote: Sections 18, 19, 20, 21 and 22, chapter 942, Oregon Laws
2001, provide:

Sec. 18. As used in sections 18 to 22 of this 2001 Act:

(1) “Residual lottery revenues” means the unobligated net lottery
proceeds as defined in ORS 286.560 that remain in each fiscal year after:

(a) Payment of debt service due in that fiscal year on all bonds
secured by the revenues of the lottery, and issued on parity with lottery
bonds outstanding on the effective date of this 2001 Act [August 9,
2001]; and

(b) Payment of costs related to those lottery bonds.

(2) “South Metro Commuter Rail Project” or “project” means the
acquisition, construction, installation and procurement of all components
of an approximately 15-mile commuter rail line connecting Wilsonville,
Tualatin, Tigard and Beaverton, or segments thereof. [2001 c.942 §18]

Sec. 19. (1)(a) For the biennium beginning July 1, 2005, the State
Treasurer is authorized to issue lottery bonds pursuant to ORS 286.560 to
286.580 in the amount of $35,342,000 for payment of the expenses of
Washington County for the South Metro Commuter Rail Project, plus an
additional amount to be estimated by the State Treasurer for payment of
bond-related costs of the Oregon Department of Administrative Services,
the Department of Transportation and the State Treasurer.

(b) For the biennium beginning July 1, 2005, the State Treasurer is
authorized to issue lottery bonds pursuant to ORS 286.560 to 286.580 in
the amount of $200,000 for payment of the expenses of the Department of
Transportation in entering into, modifying and administering a grant
agreement under section 21 (3), chapter 942, Oregon Laws 2001, for the
South Metro Commuter Rail Project, plus an additional amount to be
estimated by the State Treasurer for payment of bond-related costs of the
Oregon Department of Administrative Services, the Department of
Transportation and the State Treasurer.

(2) Lottery bonds issued under this section shall be issued at the
request of the Director of Transportation.

(3) Net proceeds of lottery bonds issued under subsection (1)(a)
and (b) of this section, in the amount of $35,542,000, shall be deposited
in the South Metro Commuter Rail Project Fund established by section 21,
chapter 942, Oregon Laws 2001, not later than March 30, 2007.

(4) The bond-related costs of the Oregon Department of
Administrative Services, the Department of Transportation and the State
Treasurer for the lottery bonds authorized by this section shall be paid
from the gross proceeds of those lottery bonds and from allocations for
the purposes of ORS 286.576 (1)(c). [2001 c.942 §19; 2003 c.741 §7; 2005
c.788 §4]

Sec. 20. The Legislative Assembly finds that:

(1) The development, acquisition, construction and operation of the
South Metro Commuter Rail Project will accomplish the purpose of creating
jobs and furthering economic development in Oregon because:

(a) Construction and operation of the South Metro Commuter Rail
will reduce traffic congestion on existing highways and roads, improving
the attractiveness of the metropolitan area to new businesses and
supporting the operations and prosperity of existing businesses;

(b) Construction and operation of the South Metro Commuter Rail
will reduce the cost and time required for family wage earners to commute
to work, permitting more of Oregon’s work force to obtain jobs for which
they are qualified; and

(c) Authorization for the issuance of lottery bonds for the South
Metro Commuter Rail Project will increase the likelihood of federal
funding for the project and add new revenues that will directly benefit
Oregon’s construction industry.

(2) The factors described in subsection (1) of this section will
encourage and promote economic development within the State of Oregon,
and issuance of lottery bonds to finance the South Metro Commuter Rail
Project is therefore an appropriate use of state lottery funds under
section 4, Article XV of the Oregon Constitution, and ORS 461.510. [2001
c.942 §20]

Sec. 21. (1) The South Metro Commuter Rail Project Fund is
established separate and distinct from the General Fund. The moneys in
the South Metro Commuter Rail Project Fund and the interest earnings of
the fund are continuously appropriated to the Department of
Transportation for the purpose described in subsection (2) of this
section. The fund shall consist of moneys deposited in the fund under
section 19, chapter 942, Oregon Laws 2001, and may include fees, moneys
or other revenues available for payment of expenses of the South Metro
Commuter Rail Project, including federal funds collected or received as
reimbursement for expenses of the project from the United States
Department of Transportation or the Federal Highway Administration under
the Transportation Equity Act for the 21st Century (P.L. 105-178), or
Miscellaneous Receipts.

(2) Subject to subsection (3) of this section, moneys in the fund
shall be available for immediate distribution to Washington County to pay
the expenses of the project.

(3)(a) The Director of Transportation shall enter into, or modify,
a grant agreement with Washington County that requires the department to
disburse, over the course of the project, an aggregate amount of
$35,342,000 to Washington County from the fund. Disbursements from the
fund shall be made as soon as deposits accrue in the fund and shall
commence when:

(A) Moneys are available;

(B) Washington County has entered into one or more contracts for
final design, construction or acquisition of components of the South
Metro Commuter Rail Project and the contracts have an aggregate value of
at least $35,342,000; and

(C) The Director of Transportation determines that the following
conditions have occurred:

(i) Washington County has provided documentation that it will have
sufficient financing to complete the project; and

(ii) Washington County has agreed in the grant agreement authorized
by this section that the county will not request or accept any state
General Fund moneys for the project. Upon completion of the project, if
the aggregate expenditure of state and local moneys is less than $45
million, Washington County shall refund the difference to the fund
established by this section.

(b) Upon satisfaction of the conditions described in paragraph (a)
of this subsection, the Department of Transportation shall disburse
$35,342,000 of the moneys in the fund to Washington County in the
biennium beginning July 1, 2005.

(c) Of the moneys deposited in the fund, the Department of
Transportation may use $200,000 to pay the department’s expenses in
entering into, modifying and administering the grant agreement authorized
by this section.

(4)(a) The state is not liable to the lenders, vendors or
contractors of Washington County for any action or omission under
sections 18 to 22, chapter 942, Oregon Laws 2001, or the grant agreement
authorized by this section, except for a failure to allocate and deposit
to the fund amounts required by section 19, chapter 942, Oregon Laws
2001, or to disburse from the fund to Washington County amounts required
by this section and the grant agreement authorized by this section.

(b) The grant agreement must:

(A) Obligate the department to deposit the net proceeds of lottery
bonds described in section 19, chapter 942, Oregon Laws 2001, or, if
necessary, the amounts described in section 22, chapter 942, Oregon Laws
2001, into the fund.

(B) Obligate Washington County to indemnify the state and its
agencies and departments to the fullest extent permitted by law for any
liability the state or its agencies and departments might incur in
connection with any borrowing by Washington County for the project,
except failure to allocate and deposit to the fund amounts required by
section 19, chapter 942, Oregon Laws 2001, or amounts described in
section 22, chapter 942, Oregon Laws 2001, or to disburse from the fund
to Washington County amounts required by this section and the grant
agreement authorized by this section.

(c) Washington County may assign and pledge its rights under the
grant agreement to lenders, vendors or contractors. The Director of
Transportation shall pledge the moneys available in the fund for the
project. [2001 c.942 §21; 2002 s.s.2 c.4 §10; 2003 c.741 §8; 2005 c.788
§5]

Sec. 22. If the state has not deposited an aggregate amount of
$35,342,000 in the South Metro Commuter Rail Project Fund by March 30,
2007, the state shall allocate to the Department of Transportation for
deposit in the South Metro Commuter Rail Project Fund an amount equal to
the difference between $35,342,000 and the aggregate deposits to the fund
as of March 30, 2007, from the first available residual lottery revenues.
[2001 c.942 §22; 2003 c.741 §9; 2005 c.788 §6]MASS TRANSPORTATION

FINANCING AUTHORITY (1) The
Legislative Assembly of the State of Oregon finds and declares that:

(a) It is in the public interest to provide methods of financing
the costs of mass transit facilities; and

(b) The method of financing provided in ORS 267.227 and 391.500 to
391.660 is in the public interest and serves a public purpose.

(2) The purpose of ORS 267.227 and 391.500 to 391.660 is to create
an authority to provide financial assistance to mass transit districts.

(3) ORS 267.227 and 391.500 to 391.660 shall be liberally
construed. [1977 c.662 §2] As used in ORS
267.227 and 391.500 to 391.660, unless the context otherwise requires:

(1) “Acquire” or “acquisition” means the acquisition, by purchase,
lease, gift, grant, devise, construction, installation, reconstruction,
repair and alteration, and the equipment, improvement and extension of
mass transit facilities.

(2) “Authority” means the Oregon Mass Transportation Financing
Authority created by ORS 267.227 and 391.500 to 391.660.

(3) “Board” means the members of the authority created in ORS
391.520.

(4) “District” means a mass transit district established under ORS
267.010 to 267.390.

(5) “Finance” or “financing” means the issuance of revenue bonds
pursuant to ORS 391.570 by the authority for the purpose of providing
financial assistance to districts.

(6) “Financial assistance” means the providing of methods of
financing of costs of mass transit facilities under ORS 267.227 and
391.500 to 391.660.

(7) “Mass transit facility” or “facilities” means any or all
property constituting a mass transit system, or any portion thereof, in
any manner owned, used, leased or operated by a district and which is
located wherever a district is authorized to operate. [1977 c.662 §3] The Oregon Mass
Transportation Financing Authority is hereby created as a public
instrumentality of the State of Oregon and the exercise by the authority
of the powers conferred by ORS 267.227 and 391.500 to 391.660 is the
performance of an essential public function. The authority shall consist
of the chairperson of the Oregon Transportation Commission, the State
Treasurer, or designee, the chairperson of the Oregon Investment Council,
or designee, and a representative designated by the board of directors of
each district. [1977 c.662 §4] The members shall select a
chairperson from among themselves and may select such other officers as
they consider necessary. Any member may call a meeting of the board. A
majority of the members of the Oregon Mass Transportation Financing
Authority shall constitute a quorum for all purposes. Members of the
authority shall receive no compensation for services but shall be
entitled to the necessary expenses incurred in the discharge of their
duties. [1977 c.662 §5] The Oregon Mass
Transportation Financing Authority may adopt and amend appropriate bylaws
for the regulation of its affairs and the conduct of its business and may
elect a secretary who need not be a member. The secretary shall perform
such duties as the board shall designate and may give certificates under
the official seal of the authority, and all persons dealing with the
authority may rely on such certificates. [1977 c.662 §6] The
Oregon Mass Transportation Financing Authority shall have the following
powers together with all powers incidental thereto or necessary for the
performance thereof:

(1) To have perpetual succession as a public instrumentality of the
State of Oregon;

(2) To sue and be sued and to prosecute and defend, at law or in
equity, in any court having jurisdiction of the subject matter and of the
parties;

(3) To have and to use a corporate seal and to alter the same at
pleasure;

(4) To maintain an office at such place or places as it may
designate;

(5) To acquire, own, finance, lease and dispose of any mass transit
facility and to enter into contracts for any and all of such purposes;
provided, that title to or in any mass transit facility so financed may
in the discretion of the authority remain in a district and provided,
further, that the district shall not itself operate any mass transit
facility, except as lessor;

(6) To lease or sell to a district any or all of the mass transit
facilities upon such terms and conditions as the board shall deem proper,
and to charge and collect rent or other payments therefor and to
terminate any such lease or sales agreement upon the failure of the
district to comply with any of the obligations thereof; and to include in
any such lease, if desired, provisions that the district shall have
options to renew the term of the lease for such period or periods and at
such rent as shall be determined by the board or to purchase any or all
of the mass transit facilities for a nominal amount or otherwise or that
at or prior to the payment of all of the indebtedness incurred by the
authority for the financing of such mass transit facilities the authority
may convey any or all of the mass transit facilities to the district with
or without consideration;

(7) By resolution of a majority of the members of the authority, to
issue bonds in the aggregate principal sum of not to exceed $250 million
par value for any of its corporate purposes and to refund the same,
subject to the provisions of ORS 267.227 and 391.500 to 391.660;

(8) To employ or to contract with other state or municipal agencies
for such employees and agents as may be necessary in its judgment;

(9) To receive and accept from any public agency loans or grants
for aid in the acquisition of any mass transit facility and any portion
thereof, and to receive and accept grants, gifts or other contributions
from any source;

(10) To refund outstanding obligations incurred by any district
including obligations incurred, undertaken or completed prior to or after
October 4, 1977;

(11) To receive and to pledge as security for the payment of any
bonds issued under ORS 267.227 and 391.500 to 391.660, any lease,
purchase agreement, note, bond or other obligation by or on behalf of any
district;

(12) To make loans to any district for the purpose of providing
financial assistance to such district in accordance with an agreement
between the authority and such district; and

(13) To do all things necessary and convenient to carry out the
purpose of ORS 267.227 and 391.500 to 391.660. [1977 c.662 §7; 1983 c.306
§1] Any lease of a
mass transit facility entered into pursuant to the provisions of ORS
267.227 and 391.500 to 391.660 shall be for a term not shorter than the
longest maturity of any bonds issued to finance such mass transit
facility or a portion thereof and shall provide for income, revenues and
rentals from all sources pledged to the payment of such bonds adequate to
pay the principal, interest and premiums, if any, on such bonds as the
same fall due and to create and maintain such reserves and accounts for
depreciation, if any, as the board in its discretion shall determine to
be necessary. [1977 c.662 §8] (1) Bonds may
be issued as serial bonds or as term bonds or a combination of both
types. The board may provide that such bonds:

(a) May be executed and delivered by the Oregon Mass Transportation
Financing Authority at any time and from time to time in such amounts
including all necessary and incidental expenses, together with all
necessary initial bond and interest reserves and applicable interest
during the period of acquisition;

(b) May be in such form and denominations and of such terms and
maturities;

(c) May be in fully registered form or in bearer form registerable
either as to principal or interest or both;

(d) May bear such conversion privileges and be payable in such
installments and at such time or times not exceeding 40 years from the
date thereof;

(e) May be payable at such time or times and at such place or
places whether within or without the State of Oregon and evidenced in
such manner;

(f) May be made optional for redemption prior to maturity at such
price or prices and on such terms and conditions;

(g) May be executed by the manual or facsimile signatures of such
officers of the authority; and

(h) May contain such other provisions not inconsistent with ORS
267.227 and 391.500 to 391.660.

(2) Any bonds of the authority may be sold for such price and in
such manner and from time to time as may be determined by the board. The
board shall publish notice of its intent to sell bonds, at least once, at
least two days prior to the date of sale, in a newspaper of general
circulation in each district which is to receive financial assistance
from the proceeds of the bonds. The notice shall state the general
purposes for which the bonds are to be sold. Issuance by the authority of
one or more series of bonds for one or more purposes shall not preclude
it from issuing other bonds in connection with the same mass transit
facility or any other mass transit facility or for any other purpose, but
the proceedings where any subsequent bonds may be issued shall recognize
and protect any prior pledge made for any prior issue of bonds. Refunding
bonds may be issued whether the bonds to be refunded are then subject to
redemption or are thereafter subject to redemption or maturity, and
regardless of the purpose for which the bonds to be refunded were issued
by the authority. All such bonds and the interest coupons applicable
thereto, if any, are made and shall be construed to be negotiable
instruments. [1977 c.662 §9] The principal, interest and premiums, if
any, on any bonds issued by the Oregon Mass Transportation Financing
Authority shall be secured solely by a pledge of the income, revenues and
receipts out of which the same shall be made payable and may also be
secured by and payable out of proceeds from the sale of the mass transit
facility acquired or financed by the proceeds of such bonds. In addition,
the district which is to lease or purchase the mass transit facilities
financed out of the proceeds of any bonds issued by the authority may, by
resolution of the district board, pledge all or any part of the revenues
of the district derived from any taxes which the district is authorized
to levy as security for the payment of the principal, interest and
premiums, if any, on the bonds issued by the authority to finance such
mass transit facilities. In the resolution of the district board pledging
all or any part of its tax revenues as security for any bonds issued by
the authority, the district may reserve the right to pledge from time to
time on a parity basis all or any part of its tax revenues as security
for any one or more series of bonds issued thereafter by the authority or
the district, and in the event the right so reserved by the district is
exercised all bonds secured by a pledge of such tax revenues shall be
equally and ratably secured by such tax revenues without preference or
priority of any kind of any bond or series of bonds secured thereby over
any other bond or series of bonds secured thereby. A pledge of tax
revenues by a district as a security for the payment of any bonds issued
by the authority shall not be considered to be the incurring of bonded
indebtedness by the district. Any pledge made pursuant to this section
shall be valid and binding from and after the date of issuance of the
bonds secured thereby and the income, revenues, receipts or taxes pledged
shall be immediately subject to the lien of such pledge without the
physical delivery thereof, the filing of any notice or any further act.
The lien of any such pledge shall be valid and binding against all
persons having claims of any kind against the pledgor whether in tort,
contract or otherwise, irrespective of whether such persons have notice
thereof. The resolution under which the bonds are authorized to be issued
and any indenture executed as security for the bonds, may contain any
agreements and provisions with respect to the maintenance of the
properties covered thereby, the fixing and collection of rents for any
portions leased by the authority to a district, the pledge of the
agreement of the district to make such payments as shall be necessary to
pay principal, interest and premiums, if any, on the bonds, the creation
and maintenance of special funds from such revenues, and the rights and
remedies available in the event of default, designation of a trustee, and
any other provision the board shall deem advisable. Each pledge and
agreement made for the benefit or security of any of the bonds of the
authority shall continue effective until the principal, interest and
premiums, if any, on the bonds for the benefit of which the same were
made shall have been fully paid or provision for such payment duly made.
[1977 c.662 §10; 1985 c.655 §1] All bonds issued by
the Oregon Mass Transportation Financing Authority under the provisions
of ORS 267.227 and 391.500 to 391.660 shall not constitute a debt,
liability or general obligation of this state, or a pledge of the faith
and credit of this state, but shall be payable solely from the income
revenues, receipts or assets pledged for their payment. Each bond issued
shall contain on the face a statement that the State of Oregon or the
authority shall not be obligated to pay the same nor the interest thereon
except from the income revenues, receipts or assets pledged therefor, and
that neither the general obligation, full faith and credit nor the taxing
power of this state is pledged to the payment of the principal of or the
interest on such bond. [1977 c.662 §11]
(1) The income and, to the extent permitted by the Constitution, the
property of the Oregon Mass Transportation Financing Authority shall be
exempt from all taxation in the State of Oregon. For purposes of the
Oregon Securities Law, bonds issued by the authority shall be deemed to
be securities issued by an instrumentality or a political subdivision of
the State of Oregon.

(2) Interest payable on bonds of the authority shall be exempt from
taxes imposed on income by the State of Oregon. [1977 c.662 §12]
(1) No transfer authorized by ORS 267.020 of a mass transit district
system to a metropolitan service district shall take effect while bonds
issued by the Oregon Mass Transportation Financing Authority to finance
mass transit facilities for the district are outstanding until a plan
designed to repay any outstanding bonds when due is prepared by the
governing body of the metropolitan service district and approved by:

(a) The chairperson of the Oregon Transportation Commission or the
chairperson’s designee;

(b) The State Treasurer or State Treasurer’s designee; and

(c) The chairperson of the Oregon Investment Council or the
chairperson’s designee.

(2) Persons given authority to approve a transfer under subsection
(1) of this section may only refuse to approve a transfer for reasons
relating to the financial effect of the transfer. [1983 c.306 §3] All expenses of the
Oregon Mass Transportation Financing Authority incurred in carrying out
the provisions of ORS 267.227 and 391.500 to 391.660 shall be payable
solely from funds provided under the authority of ORS 267.227 and 391.500
to 391.660. For the purposes of meeting the necessary expenses of initial
organization and operation until such date as the authority derives
moneys from funds provided hereunder, the authority shall be empowered to
borrow moneys from districts, and districts are empowered to lend money
to the authority as may be required and agreed for such necessary
expenses of organization and operation. Expenses incurred by the
authority in connection with any application by a district for financial
assistance under ORS 267.227 and 391.500 to 391.660 shall be paid by such
district as provided in ORS 267.200 (10), or, in the alternative and in
the discretion of the authority, may be paid from the proceeds of bonds
issued by the authority. [1977 c.662 §13] The Oregon Mass
Transportation Financing Authority shall not convey its right, title and
interest in mass transit facilities to any district, prior to the time
the bonds secured thereby are fully paid, unless the authority has
determined that adequate provision has been made for the payment of
principal, interest and premiums, if any, on the bonds as they become
due. [1977 c.662 §14] The Oregon Mass
Transportation Financing Authority may invest any surplus moneys in
investments permitted by ORS 294.035. [1977 c.662 §15] The state and
all counties, cities and other municipal corporations, all banking
institutions and building and loan associations, savings and loan
associations, investment companies, insurance companies and associations,
and all personal representatives, guardians, trustees and other
fiduciaries may legally invest any sinking funds, moneys or other funds
belonging to them or within their control in any bonds issued pursuant to
ORS 267.227 and 391.500 to 391.660. [1977 c.662 §16] If any one or more
sections or provisions of ORS 267.227 and 391.500 to 391.660, or the
application thereof to any person or circumstance, shall ever be held by
any court of competent jurisdiction to be invalid, the remaining
provisions of ORS 267.227 and 391.500 to 391.660 and the application
thereof to persons or circumstances other than those to which it is held
to be invalid, shall not be affected thereby, it being the intention of
this Legislative Assembly to enact the remaining provisions of ORS
267.227 and 391.500 to 391.660 notwithstanding such invalidity. [1977
c.662 §19]ORS 267.227 and 391.500 to 391.660 may be
referred to and cited as the “Oregon Mass Transportation Financing Act.”
[1977 c.662 §1]ELDERLY AND DISABLED TRANSPORTATION (1) There
is established in the State Treasury, separate and distinct from the
General Fund, the Elderly and Disabled Special Transportation Fund. All
moneys in the Elderly and Disabled Special Transportation Fund are
appropriated continuously to the Department of Transportation for payment
of the department’s administrative costs of the program and payment to
mass transit districts, transportation districts, Indian tribes and
counties as provided in ORS 391.810.

(2) The Elderly and Disabled Special Transportation Fund shall
consist of:

(a) Moneys transferred to the fund under ORS 184.642 and 323.455
(3);

(b) Other moneys appropriated to the fund by the Legislative
Assembly; and

(c) Moneys obtained from interest earned on the investment of
moneys in the fund.

(3) Moneys in the Elderly and Disabled Special Transportation Fund,
with the approval of the State Treasurer, may be invested as provided by
ORS 293.701 to 293.820, and the earnings from the investments shall be
credited to the Elderly and Disabled Special Transportation Fund. [1985
c.816 §9; 1987 c.62 §1; 1989 c.224 §66; 2003 c.601 §2; 2003 c.751 §3] As used in ORS
391.800 to 391.830, “Indian tribe” means a federally recognized Indian
tribe in Oregon that has members residing on a reservation or tribal
trust lands in Oregon. [2003 c.751 §2](1) The Department of Transportation shall distribute
three-quarters of the moneys in the Elderly and Disabled Special
Transportation Fund, including the interest attributable thereto, to mass
transit districts organized under ORS 267.010 to 267.390, transportation
districts organized under ORS 267.510 to 267.650, Indian tribes and to
those counties in which no part of a mass transit district or
transportation district is located as follows:

(a) Each district shall receive that share of the moneys as the
population of the counties in which the district is situated, determined
under ORS 190.510 to 190.610 last preceding apportionment of the moneys,
bears to the total population of the state. However, if two or more
districts are situated in a single county, distribution of moneys under
this subsection shall be determined as though only the mass transit
district is located in that county or, if there are two or more
transportation districts in the county, as though only the transportation
district with the highest population is located in that county.

(b) Each county in which no part of a mass transit district or
transportation district is located shall receive that share of the moneys
as its population, determined under ORS 190.510 to 190.610 last preceding
apportionment of the moneys, bears to the total population of the state.

(c) Each Indian tribe shall receive that share of the moneys as the
population of the tribe residing in Oregon, determined by the Oregon
Transportation Commission pursuant to rules adopted under subsection (4)
of this section, bears to the total population of the state.

(2) After the requirements of subsection (1) of this section have
been met, the department shall distribute the remainder of the moneys in
the Elderly and Disabled Special Transportation Fund to the districts,
Indian tribes and counties described in subsection (1) of this section as
follows:

(a) Each district, Indian tribe or county that receives a share of
the moneys in proportion to population under subsection (1) of this
section shall receive an amount, determined by the commission by rule and
not to exceed $2,000 annually, to be used to defray the administrative
expenses of the district, Indian tribe or county in carrying out its
functions under ORS 391.800 to 391.830.

(b) Each district, Indian tribe or county that receives a share of
the moneys in proportion to population under subsection (1) of this
section shall receive for each fiscal year a minimum amount, determined
by the commission by rule, to be distributed to providers of
transportation for use as specified under ORS 391.830 (4).

(c) Each district, Indian tribe or county shall receive any money
distributed to it from the discretionary grant account established under
ORS 391.815.

(d) After the requirements of paragraphs (a) to (c) of this
subsection have been satisfied, the department shall set aside and
transfer the remainder of the moneys in the Elderly and Disabled Special
Transportation Fund to a discretionary grant account established under
ORS 391.815.

(3) The department may not distribute moneys to a mass transit
district, transportation district, Indian tribe or county under this
section unless the district, Indian tribe or county has appointed an
advisory committee under ORS 391.820.

(4) The department shall adopt rules necessary for the
administration and implementation of ORS 391.800 to 391.830. The rules
may include but are not limited to:

(a) Restrictions and requirements on the distribution and use of
moneys received under this section;

(b) Development of a form contract for use by districts, Indian
tribes and counties when distributing moneys received under this section;
and

(c) Restrictions and requirements on a district, Indian tribe or
county for failure to comply with the provisions of this section or ORS
391.815 or 391.830.

(5) Each district, Indian tribe or county described in subsection
(1) of this section is specifically authorized to enter into an agreement
with another district, Indian tribe or county under ORS 190.003 to
190.130 to facilitate the performance of the functions authorized under
ORS 391.830. [1985 c.816 §10; 1989 c.224 §67; 1989 c.866 §8; 2003 c.613
§1a; 2003 c.751 §4](1) After the requirements
of ORS 391.810 have been satisfied, the Department of Transportation
shall set aside and transfer the remainder of the moneys in the Elderly
and Disabled Special Transportation Fund to a discretionary grant account
established as an account in the Elderly and Disabled Special
Transportation Fund.

(2) The moneys in the discretionary grant account established under
this section are continuously appropriated to the department for the
purpose of distribution for ultimate use for transportation and services
to the elderly and disabled as described under ORS 391.830 (4). The
department may distribute moneys from the discretionary grant account
only as directed by the Oregon Transportation Commission under this
section.

(3)(a) A district, Indian tribe or county described in ORS 391.810
(1) may make application to the department for a distribution from the
discretionary grant account established under this section. The
application shall describe the purposes for which the grant is to be used
and the monetary amount that is required to carry out those purposes.

(b) Upon receipt of an application, the department shall cause the
application to come to the attention of the commission, which shall,
after consideration, approve or deny the application, in whole or in part.

(c) The commission shall approve only those grants applied for
under paragraph (a) of this subsection that are for use for the purposes
set forth in ORS 391.830 (4).

(4) Upon approval of an application, in whole or in part, the
commission shall direct the department to distribute the dollar amount
approved to the applying district, Indian tribe or county. [1989 c.866
§10; 2003 c.751 §5] (1) The governing
body of each mass transit district, transportation district, Indian tribe
or county that receives moneys from the Elderly and Disabled Special
Transportation Fund under ORS 391.810 shall appoint an advisory committee
to advise and assist the governing body in carrying out the purposes of
ORS 391.800 to 391.830. The number and terms of the members of an
advisory committee appointed under this section shall be determined by
the appointing governing body.

(2) To be qualified to serve on an advisory committee of a district
or county, an individual must reside within the boundaries of the
district, the county within which a district or part thereof is located
or the county in which no part of a district is located and must be:

(a) A person who is an elderly or disabled individual and uses
transportation services in the district or county;

(b) A person who is an elderly or disabled individual and lives in
an area of the district or county where there are no public
transportation services;

(c) An individual engaged in providing transportation services to
the elderly or disabled in the district or county;

(d) A representative of elderly individuals; or

(e) A representative of disabled individuals.

(3) To be qualified to serve on an advisory committee of an Indian
tribe, an individual must be able to represent the transportation needs
of elderly and disabled persons served by the Indian tribe as determined
by the governing body of the Indian tribe.

(4) An advisory committee appointed under this section shall review
the distribution of moneys by the governing body of a district, Indian
tribe or county under ORS 391.830. The advisory committee may propose any
changes to the policies or practices of the governing body relating to
the distribution that the advisory committee considers necessary or
desirable. [1985 c.816 §11; 1987 c.532 §1; 1989 c.224 §68; 2003 c.751 §6](1)(a) Each mass transit district and
transportation district that receives moneys from the Department of
Transportation under ORS 391.810 (1) or (2)(b), after providing for costs
of administration in an amount determined under ORS 391.810 (2)(a), shall
distribute the moneys to providers of transportation for the purpose of
financing and improving transportation programs and services for the
elderly and disabled residents of the district and the county in which
all or a portion of the district is located. The moneys received under
ORS 391.810 (1) and (2)(b) and distributed to providers of transportation
in areas within the counties in which the district is located but outside
the boundaries of the district shall be that share of all moneys received
by the district as the population of those counties residing outside the
district, as determined by the last federal decennial census, bears to
the total population of the counties.

(b) Each county that receives moneys from the department under ORS
391.810 (1) or (2)(b), after providing for costs of administration in an
amount determined under ORS 391.810 (2)(a) shall distribute the moneys to
providers of transportation for the purpose of financing and improving
transportation programs and services for the elderly and disabled
residents of the county.

(c) Each Indian tribe that receives moneys from the department
under ORS 391.810 (1) or (2)(b), after providing for costs of
administration in an amount determined under ORS 391.810 (2)(a), shall
use the moneys for the purpose of financing and improving transportation
programs and services for elderly and disabled individuals served by the
Indian tribe.

(2) The governing body of a district, Indian tribe or county, after
consultation with the advisory committee it appointed under ORS 391.820,
shall determine the amount of money to be distributed to a provider of
transportation and the purposes for which the money must be used. Moneys
received under ORS 391.810 (2)(c) shall be used for the purposes for
which received as indicated in the directive from the Oregon
Transportation Commission as described under ORS 391.815. All moneys
received under ORS 391.810 shall be distributed and used consistent with
rules adopted by the Department of Transportation under ORS 391.810 (4).

(3) A provider of transportation receiving funds prior to January
1, 1986, from a governmental unit or agency for purposes related to the
transportation needs of the elderly or disabled is eligible to receive
moneys from a district, Indian tribe or county under this section.

(4) Moneys distributed to providers of transportation under this
section may be used for the following purposes:

(a) Maintenance of existing transportation programs and services
for the elderly or disabled.

(b) Expansion of such programs and services.

(c) Creation of new programs and services.

(d) Planning for, and development of, access to transportation for
elderly and disabled individuals who are not currently served by
transportation programs and services.

(5) Except in the case of a uniform budget reduction or upon order
or other authorization of the department, the increase in moneys received
under ORS 391.810 under this section and ORS 323.030, 323.455, 391.810
and 391.815 may not be used to supplant moneys currently appropriated by
counties, Indian tribes or districts for elderly and disabled
transportation projects.

(6) As used in this section, “provider of transportation” includes
a city, county, district, Indian tribe or any other person or agency,
whether public or private, that maintains, operates or sponsors vehicles
and facilities for the transportation of passengers for profit or on a
nonprofit or voluntary basis. [1985 c.816 §12; 1989 c.224 §69; 1989 c.866
§11; 2003 c.613 §2; 2003 c.751 §7]

CHAPTERS 392 TO 395

[Reserved for expansion]

_______________

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