The aggregate amount of such district bonded indebtedness, including indebtedness authorized under ORS § 328.213, shall not exceed the following percentages of real market value of all taxable property within the district, computed in accordance with ORS § 308.207:

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(1) For each grade from kindergarten to eighth for which the district operates schools, fifty-five one-hundredths of one percent (0.0055) of the real market value.

(2) For each grade from the 9th to 12th for which the district operates schools, seventy-five one-hundredths of one percent (0.0075) of the real market value. [Amended by 1953 c.697 § 2; 1955 c.325 § 1; 1957 c.639 § 1; 1959 c.641 § 34; 1963 c.9 § 16; 1965 c.100 § 55; 1971 c.513 § 64; 1975 c.770 § 5a; 1991 c.459 § 384]