Oregon Revised Statutes Chapter 353 § 353.559 — Creation; university duties; expenditure of proceeds

Creation; university duties; expenditure of proceeds. (1) Oregon Health and Science University shall create the Oregon Opportunity program to usher in a new era of breakthroughs in health care and biotechnology for Oregonians. Through the program, the university shall invest in facilities, endowments, research infrastructure, recruitment of scientists and researchers, scholarships and programs including but not limited to: (a) Research on cancer, heart disease, multiple sclerosis, Parkinson’s disease and Alzheimer’s disease; (b) Research on autism spectrum disorder; (c) Children’s health and women’s health; (d) Hearing research; (e) Advanced eye research; (f) Aging research; (g) Rural health initiatives; (h) Research on public health, health care ethics, health information science and health outcomes; and (i) Other health care, biotechnology and related research. (2) Oregon Health and Science University shall dedicate: (a) Not less than five percent of the university’s share of the net proceeds of royalties and licenses attributable to the Oregon Opportunity program to meeting the university’s missions of providing access to medical services to people who are underserved and promoting further study in the areas of public health, health care ethics, health information science and health outcomes. The proceeds shall be distributed as follows: (A) 50 percent to providing access to medical services to people who are underserved; and (B) 50 percent to establishing endowments to support research on public health, health care ethics, health information science and health outcomes. (b) Not less than five percent of the university’s share of the net proceeds of royalties and licenses attributable to the Oregon Opportunity program to the payment of bond-related costs then due and payable by the state and deposit those amounts into the Oregon Health and Science University Bond Fund established in section 14, chapter 921, Oregon Laws 2001. If the dedicated amount exceeds the amount necessary to pay bond-related costs, the excess shall be deposited in the General Fund. (3) Notwithstanding subsection (2) of this section, any obligation of the university to dedicate or distribute a share of the net proceeds of royalties and licenses attributable to the Oregon Opportunity program under subsection (2) of this section: (a) Shall be subordinate to the university’s obligation to pay obligations issued under the university’s Master Trust Indenture, dated December 1, 1995, as amended or supplemented; and (b) Does not constitute a lien on the gross revenues of the university as “Lien” and “Gross Revenues” are defined in the Master Trust Indenture. [2001 c.921 §5]