(1) A county may incur bonded indebtedness within the meaning of section 10, Article XI of the Oregon Constitution, by issuing revenue bonds when a county is expressly authorized to issue revenue bonds by a law other than this section. The amount of revenue bonds permitted by this section may not exceed the lesser of:

Terms Used In Oregon Statutes 287A.105

  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • Revenue: means all fees, tolls, excise taxes, assessments, property taxes and other taxes, rates, charges, rentals and other income or receipts derived by a public body or to which a public body is entitled. See Oregon Statutes 287A.001

(a) One percent of the real market value of all taxable property in the county, calculated as provided in ORS § 308.207; or

(b) A limitation on bonded indebtedness in the county charter.

(2) The limitation on bonded indebtedness in subsection (1) of this section does not apply to revenue bonds issued to finance pension liabilities under ORS § 238.692 to 238.698 or any other law in effect prior to enactment of ORS § 238.692 to 238.698. [2007 c.783 § 45]

 

  Previous section
Next section  
 General Obligation Bonds Contents