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Establishes amounts authorized for issuance of general obligation bonds, revenue bonds, certificates of participation and other financing agreements for the biennium. Establishes amounts allocated for private activity bonds. [<i>Authorizes general obligation bonding for the Interstate 5 bridge replacement project for future biennia.</i>] Makes legislative findings regarding benefits to higher education institutions and community colleges from the issuance of bonds under Article XI-F(1) and Article XI-G of the Oregon Constitution. [<i>Requires a constructing authority to make certain certifications before issuance of bonds under Article XI-G of the Oregon Constitution.</i>] <b>Requires specified constructing authorities to meet certain conditions before issuance of specified bonds. Establishes restrictions on general obligation bonding for the benefit of community colleges. Establishes requirements applicable to certain contracts for specified higher education capital construction projects.</b> Declares an emergency, effective July 1, 2025.