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About Oregon daily emerald. (Eugene, Or.) 1920-2012 | View Entire Issue (May 2, 2002)
Measure 11 would fund medical research at OHSU ■The measure would allow general obligation bonds to be issued instead of more expensive revenue bonds By Brad Schmidt Oregon Daily Emerald Ballot Measure 11, on the May 21 primary ticket, would finance statewide medical research and other capital costs at Oregon Health and Science University at a cheaper rate than currently possible. If approved, the measure would allow the state to issue less expen sive general obligation bonds rather than the current, more expensive revenue bonds. General bond re payment is almost certain, and sub sequently the interest rate is lower. Revenue bond repayment is not guaranteed because the money is generated by the project itself. With voter approval, Measure 11 will save Oregon nearly $35 mil lion in interest payments, money that the measure’s supporters say could be used to fund new jobs and aid in medical research. The measure would allocate no more than $200 million to OHSU’s Oregon Opportunity program. Bond repayment will come from various sources, including the state’s general fund, lottery funds and tobacco settlement funds. If Measure 11 is rejected, $165 mil lion will be issued to OHSU, but the repayment of the funds would be payable from only the tobacco settlement fund and would carry a higher rate of interest. The measure prohibits the state Measure 11 will fund: $98 million: A six-story, 179,000 200,500 square fool biomedical research building on the OHSU main campus $12 million: Acquisition of a research building on the west campus $15 million; Expansion of clinical facilities at OHSU, part of an estimated horn imposing property taxes to raise revenue for bond repayment. Measure 11, first proposed as House Joint Resolution 19 in the 71st Legislative Assembly in 2001, would amend the Oregon Constitu tion by creating an exception to the state’s lending rules. “We got together to voice our opinion, and the next thing you know we are a political action committee. ” Craig Rowland neighbor State Rep. Phil Barnhart, D-Eu gene, said Measure 11 “looks like an obvious ‘yes’ vote.” Barnhart said bankers become wary to fund projects if the state is continually asking for money. “After a while the bankers say, ‘Go away. Don’t bug us anymore,”’ he said. Oregon has a history of being conservative in its bond borrowing, however. Barnhart said he doesn’t think banks will have a problem $220 million project $65 million: Recruitment of researchers $10 million: To the Rural Health Institute and Health, Education, Research Oregon Network, which uses Internet technology to link medical providers and researchers from around the state SOURCE: The Oregon Opportunity Committee buying general bonds. Opponents of the bill say OHSU plans to use the money to build a tram costing more than $20 million to connect its Marquam Hill cam pus with new facilities two-thirds of a mile away. In the 2002 voters’ pamphlet, the South Portland Na tional Historic District neighbors said the measure would waste scarce public funds by building a “ski resort style ... carnival ride.” Craig Rowland, a neighbor who says he’d be adversely affected by a tram, said he realizes that OHSU will receive funding no matter what and used the voters guide to alert the public about the tram issue. “It was sort of a joke, to tell you the truth. We got together to voice our opinion, and the next thing you know we are a political action committee.” Elbe Booth, director of public af fairs for the company which is managing the Oregon Opportunity program, said “none of the money will be used for the tram.” E-mail reporter Brad Schmidt atbradschmidt@dailyemerald.com. MAKS A DIFFERENCE! Support Fairly Traded Coffee at the UO Bookstore. Free samples at the Duck Stop! Espresso Bar. Learn more about farmers and communities you support when you drink fairly traded coffees. UNIVERSITY*/' OREGON BOOKSTORE me united states and Israel are united in a quest for victory over the forces that seek to undermine our shared democratic values and hopes for the future. Come hear prominent international speakers explain why what happens to Israel matters to you. It's your freedom—make it count. Hear David Zev Harris Bureau Chief of Media Line News Services, Former BBC Reporter Thursday, May 9, 2002 Program begins at 1:00pm, Doors open at 12:30pm University of Oregon Erb Memorial Union • Grand Ballroom, upper Level All welcome • Please R.S.V.P. • Free admission and reception presented by: CARAVAN for DEMOCRACY ( ♦ Israel and America: Sharing hopes. Sharing values, ir ) For more information about Caravan for Democracy and to R.S.V.P., e-mail caravan@jnf.org, visit www.caravanfordemocracy.org or call 1-800-969-5585 x247. ri§| JNJ; 'll. HJp College Activists MEDIAWATCH national fund Department vAFww.jnf.org www. honest reporting. com Co-sponsors: OREGON HILLEL: The Foundation for Jewish Campus Life, Jewish Student union, Club Israel. Harold Schnitzer Family Program in Judaic Studies, Temple Beth Israel of Eugene, and Tzedek Hillel
