Relating to transportation; declaring an emergency.

From the Legislature

The Act makes changes to OTC and tells the OTC to make a policy about how to handle debt for road projects. The Act says that ODOT may still ask to issue bonds, but first it must let the OTC know and review the request. (Flesch Readability Score: 82.4). Modifies membership of the Oregon Transportation Commission. Directs the commission to develop a debt financing management policy for all forms of debt financing issued to finance highway projects. Provides that before the Department of Transportation may request the State Treasurer to issue bonds, the department must first submit the proposed request to the Oregon Transportation Commission for review. Declares an emergency, effective on passage.