Article XI-L of the Oregon State Constitution

In this post we look at Article XI-L of the Oregon State Constitution.  This Article is entitled "Oregon Health and Science University" and defines that bonds may be issued in order to provide capital costs for OHSU.  The amendment was made in 2001 based on a resolution of the Legislature which was subsequently passed by the people.  This Article has 5 sections.

Section 1

This section has 5 subsections.  It authorizes the issue of bonds backed by the guarantee of the state.  The amount is limited to $200 million or one half of one percent of the real market value of all property in the state, whichever is less.  The monies have to be used for capital costs and not for operating costs of OHSU.

Section 2

This section specifies sources of revenue that can be used to pay back the principal and interest of the bonds.  Although it leaves it open to what the Legislature wants to do, it does specifically prohibit the use of ad valorem property taxes.

Section 3

This section authorizes rolling over of the bonds.

Section 4

This section directs the Legislature to enact legislation to execute this Article of the constitution.

Section 5

This section provides a catchall that any conflicting sections of the Constitution are overruled.