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title=31 page=1 Sec. 18. Notwithstanding ORS 366.507, the Department of Transportation may decrease the amount of moneys spent on modernization required by ORS 366.507 by 25 percent. [2007 c.911 §18] Sec. 19. (1) Sections 15 to 17 of this 2007 Act are repealed on June 30, 2009. (2) Section 18 of this 2007 Act is repealed on June 30, 2011. [2007 c.911 §19] Sec. 20. Sections 15 to 18 of this 2007 Act become operative July 1, 2008. [2007 c.911 §20] 366.740 [Renumbered 367.160] 366.742 Repayment of specified bonds; allocation of moneys not needed for repayment. Each biennium, any portion of the $71.2 million referred to in ORS 366.739 that remains after deducting an amount equal to total debt service payments payable on outstanding Highway User Tax Bonds described in ORS 367.620 (2) shall be allocated 50 percent to the Department of Transportation, 30 percent to counties and 20 percent to cities. Moneys allocated to counties and cities under this section shall be distributed in the same manner as moneys allocated under ORS 366.739 are distributed. [Formerly 366.543] Note: 366.742 was enacted into law by the Legislative Assembly but was not added to or made a part of ORS chapter 366 or any series therein by legislative action. See Preface to Oregon Revised Statutes for further explanation. 366.744 Allocation of moneys from specified increases in title and registration fees and in truck taxes and fees; restrictions on expenditure by Multnomah County. (1) The following moneys shall be allocated as provided in subsection (2) of this section: (a) The amount attributable to the increase in title fees by the amendments to ORS 803.090 by section 1, chapter 618, Oregon Laws 2003. (b) The amount attributable to the increase in registration fees by the amendments to ORS 803.420 by section 2, chapter 618, Oregon Laws 2003, except for the amount paid to the State Parks and Recreation Department Fund under ORS 366.512; and (c) The amount attributable to the increase in fees and tax rates by the amendments to ORS 818.225, 825.476 and 825.480 by sections 3, 4 and 5, chapter 618, Oregon Laws 2003. (2) The moneys described in subsection (1) of this section shall be allocated as follows: (a) 57.53 percent to the Department of Transportation. (b) 25.48 percent to the department to pay the principal and interest due on bonds authorized under ORS 367.620 (3) that are issued for replacement and repair of bridges on county highways. However, any portion of the 25.48 percent that is not needed for payment of principal and interest on the bonds described in this paragraph shall be allocated to counties. Moneys allocated to counties under this paragraph shall be distributed in the same manner as moneys allocated to counties under ORS 366.739 are distributed. (c) 16.99 percent to the department to pay the principal and interest due on bonds authorized under ORS 367.620 (3) that are issued for replacement and repair of bridges on city highways. However, any portion of the 16.99 percent that is not needed for payment of principal and interest on the bonds described in this paragraph shall be allocated to cities. Moneys allocated to cities under this paragraph shall be distributed in the same manner as moneys allocated to cities under ORS 366.739 are distributed. (3)(a) Multnomah County shall spend a majority of moneys distributed to it under subsection (2)(b) of this section on bridges in the county. (b) Moneys distributed to Multnomah County under subsection (2)(b) of this section that are not spent http://www.leg.state.or.us/ors/366.html (42 of 50) [11/3/2008 3:32:17 PM]