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Current as of January 01, 2023 | Updated by Findlaw Staff
(1) Lottery bonds may be issued pursuant to ORS 286A.580 without regard to any litigation challenging the legality of the Oregon State Lottery. Lottery bonds issued pursuant to ORS 286A.580 are valid and binding obligations of the State of Oregon that are payable only from amounts pledged under ORS 286A.580 (7) or from appropriated funds, even if the Oregon State Lottery is partially or wholly invalidated. In the event the lottery is invalidated, the Oregon Department of Administrative Services shall request the Legislative Assembly or, if the Legislative Assembly is not in session, the Emergency Board to provide appropriated funds pursuant to ORS 286A.580 (6).
(2) By enacting this section, the Legislative Assembly acknowledges its current intention to provide appropriated funds if amounts are certified by the Director of the Oregon Department of Administrative Services under ORS 286A.580, but the Legislative Assembly or the Emergency Board does not have a legal obligation to provide appropriated funds.
Cite this article: FindLaw.com - Oregon Revised Statutes Public Borrowing § 286A.578 - last updated January 01, 2023 | https://codes.findlaw.com/or/title-27-public-borrowing/or-rev-st-sect-286a-578/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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