Or. Rev. Stat. » Oregon Revised Statutes

Or. Rev. Stat. § 268.520

Authority to issue and sell general obligation bonds

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      268.520 Authority to issue and sell general obligation bonds. (1) For the purpose of performing any service that the district has power to perform, the district, when authorized at any properly called election held for such purpose, shall have the power to borrow money by the issuance and sale of general obligation bonds. Such bonds shall never exceed in the aggregate 10 percent of the real market value of all taxable property within the district computed in accordance with ORS 308.207. The bonds shall be so conditioned that the district shall promise and agree therein to pay the bearer at a place named therein, the principal sum with interest at a rate named therein payable semiannually in accordance with the tenor and terms of the interest coupons attached. The bonds shall mature serially not to exceed 30 years from the date of issue.

      (2) All general obligation bonds shall be issued as prescribed in ORS chapter 287A. [1969 c.700 §19; 1977 c.782 §7; 1983 c.347 §21; 1991 c.459 §370; 2007 c.783 §87]

Notes of Decisions
Cited in 1 case, 1977–1977 · leading case: Metropolitan Service District v. Department of Environmental Quality
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Metropolitan Service District v. Department of Environmental Quality (1977) orctapp · cites it 2× “ORS ch 268, the enabling legislation for metropolitan service districts, specifies two methods by which a district may borrow funds: the district may, following an election which grants authority, borrow money by the issuance and sale of general obligation bonds, ORS 268.520(1),…”
— Or. Rev. Stat. § 268.520(1) — 1 case
Metropolitan Service District v. Department of Environmental Quality (1977) orctapp “ORS ch 268, the enabling legislation for metropolitan service districts, specifies two methods by which a district may borrow funds: the district may, following an election which grants authority, borrow money by the issuance and sale of general obligation bonds, ORS 268.520(1),…”
— Or. Rev. Stat. § 268.520(2) — 1 case
Metropolitan Service District v. Department of Environmental Quality (1977) orctapp “ORS ch 268, the enabling legislation for metropolitan service districts, specifies two methods by which a district may borrow funds: the district may, following an election which grants authority, borrow money by the issuance and sale of general obligation bonds, ORS 268.520(1),…”
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