ORS 320.183: Long-term facilities plan for capital improvements.

(1) After deducting the costs of administering a construction tax and payment of refunds of such taxes, a school district shall use net revenues only for capital improvements.

      (2) A construction tax may not be imposed under ORS 320.170 to 320.195 unless the school district imposing the tax develops a long-term facilities plan for making capital improvements. The plan shall be adopted by resolution of the district board of the school district.

      (3) As used in this section, “capital improvements”:

      (a) Means:

      (A) The acquisition of land;

      (B) The construction, reconstruction or improvement of school facilities;

      (C) The acquisition or installation of equipment, furnishings or other tangible property;

      (D) The expenditure of funds for architectural, engineering, legal or similar costs related to capital improvements and any other expenditures for assets that have a useful life of more than one year; or

      (E) The payment of obligations and related costs of issuance that are issued to finance or refinance capital improvements.

      (b) Does not include operating costs or costs of routine maintenance.