(1) The Legislative Assembly of the State of Oregon hereby ratifies the Oregon-California Goose Lake Interstate Compact as set out in ORS 542.520. The provisions of the compact are declared to be the laws of this state at such time as the compact becomes effective as provided in subsection (2) of this section.
(2) The compact becomes effective when it has been ratified by the legislatures of the States of Oregon and California and has been consented to by the Congress of the United States as provided in Article VII of the compact.