In addition to, and not in limitation of, the means of satisfying state general obligation bond obligations under ORS § 291.445, Oregon Health and Science University, promptly upon the discovery of any shortfall in moneys available to the university for the payment when due of amounts under any bonds, certificates of participation, financing agreements or other agreements for the borrowing of moneys issued prior to July 1, 1995, by the State of Oregon on behalf of the State Board of Higher Education for equipment or projects for the university, shall notify in writing the Legislative Assembly, or if the Legislative Assembly is not in session, the Emergency Board, of the existence and amount of the shortfall. The Legislative Assembly or the Emergency Board, as the case may be, may provide funds to satisfy the payment of any such amount. By enacting this provision, the Legislative Assembly acknowledges its current intention to provide, from funds other than those appropriated or otherwise made available to public universities listed in ORS § 352.002, funds to pay such amount. However, except as may be required by the Oregon Constitution or ORS § 291.445, neither the Legislative Assembly nor the Emergency Board shall have any legal obligation to provide funds under this section. [1995 c.162 § 61a; 1999 c.291 § 13; 2015 c.767 § 24]

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Terms Used In Oregon Statutes 353.370

  • Board: means the Oregon Health and Science University Board of Directors established under ORS § 353. See Oregon Statutes 353.010
  • Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • Oregon Health and Science University: means the Oregon Health and Science University public corporation created under ORS § 353. See Oregon Statutes 353.010

 

(Financial Agreements)