Oregon Statutes 778.045 – Amount of general obligation bonds issued in one year limited
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The total amount of general obligation bonds issued by the Port of Portland in any calendar year, except for refunding bonds or bonds issued to provide funds to meet obligations assumed pursuant to ORS § 778.020, shall not exceed $3 million unless a greater amount is approved by the electors of the port at an election at which such question is submitted. [Amended by 1971 c.728 § 110; 1973 c.178 § 7; 1997 c.461 § 3]
Terms Used In Oregon Statutes 778.045
- 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.
- Port: means The Port of Portland. See Oregon Statutes 778.005
[Amended by 1971 c.728 § 111; repealed by 1977 c.33 § 4]
[Amended by 1971 c.728 § 112; repealed by 1977 c.33 § 4]