Oregon Code § 223.295·Enacted ·Last updated March 01, 2026
Statute Text
Limit
on city indebtedness.
(1) A city may incur indebtedness in the form of general obligation bonds and
general obligation interim financing notes pursuant to ORS 223.235 to an amount
which shall not exceed 0.03 of the latest real market valuation of the city.
(2) The general
obligation bonds and general obligation interim financing notes issued pursuant
to ORS 223.235 shall be determined by deducting from the sum total of
outstanding general obligation bonds and general obligation interim financing
notes issued pursuant to ORS 223.235, the aggregate of sinking funds or other
funds applicable to the payment thereof, less the aggregate of overdrafts, if
any, in the related improvement bond interest fund. [Amended by 1955 c.28 §1;
1955 c.686 §1; 1959 c.653 §7; 1963 c.545 §2; 1965 c.282 §3; 1985 c.441 §1; 1991
c.459 §351; 1991 c.902 §24]
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Plain English Explanation
This Oregon statute addresses Limit
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Key Points
01Part of Oregon statutory law
02Referenced as Oregon Code § 223.295
03Subject to legislative amendments
04Consult a licensed attorney for application to specific cases
Frequently Asked Questions
This section of Oregon law addresses Limit
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