In addition to the other powers granted a municipality under this chapter, a municipality may exercise any of its powers otherwise provided by law to assist in the planning or the carrying out of an urban renewal plan. Without limiting the powers granted by the preceding sentence, a municipality may issue its general obligation bonds for the purpose of assisting in the planning or the carrying out of an urban renewal plan. The urban renewal agency of the municipality may assume payment of the general obligation bonds and may use any of the moneys available to it for that purpose. [1957 c.456 § 17; 1979 c.621 § 21]

Terms Used In Oregon Statutes 457.320

  • agency: means an urban renewal agency created under ORS § 457. See Oregon Statutes 457.010
  • Increment: means that part of the assessed value of a taxing district attributable to any increase in the assessed value of the property located in an urban renewal area, or portion thereof, over the assessed value specified in the certified statement. See Oregon Statutes 457.010
  • Municipality: means any county or any city in this state. See Oregon Statutes 457.010
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • plan: means a plan, as it exists or is changed or modified from time to time for one or more urban renewal areas, as provided in ORS § 457. See Oregon Statutes 457.010

 

[1961 c.554 § 2; repealed by 1979 c.621 § 28]

 

TAX INCREMENT FINANCING OF URBAN RENEWAL INDEBTEDNESS

 

  Previous section
Next section  
 Urban Renewal Agencies; Plans; Activities Contents