Oregon Statutes 384.325 – Loans for interstate ferry acquisition and operation; security
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The construction, purchase, maintenance and operation of any ferry service under ORS § 384.305 to 384.360 may be financed in whole or in part by loans obtained from the United States Government or any of its agencies, or from any other sources. As security for the payment of such loans the revenues derived from the ferry service, over and above the cost of its maintenance and operation, may be hypothecated or pledged, but no such hypothecation or pledge of revenues shall constitute in any manner, or to any extent be made to constitute, a general obligation of the State of Oregon, or of any county, city, town or port making the pledge.
Terms Used In Oregon Statutes 384.325
- City: includes any incorporated village or town. See Oregon Statutes 174.100
- 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.
- United States: includes territories, outlying possessions and the District of Columbia. See Oregon Statutes 174.100