Oregon Code § 367.181·Enacted ·Last updated March 01, 2026
Statute Text
Limits
on obligation of grant anticipation revenue bonds.
(1) Grant anticipation revenue
bonds issued under ORS 367.161 to 367.181 are not general obligations of the
State of Oregon or of an agency, department, board, commission, officer or
employee of the State of Oregon.
(2) The revenue
bonds are a limited obligation payable solely from federal transportation funds
received by the Department of Transportation and, if provided by the department
when issuance of the revenue bonds is authorized, other moneys lawfully available
for the purpose and affirmatively pledged to the payment of principal,
interest, premium, if any, and purchase or tender price of the revenue bonds.
(3) A holder of
revenue bonds issued under ORS 367.161 to 367.181 may not compel the payment of
federal transportation funds to the Department of Transportation. [2003 c.201 §10]
Plain English Explanation
This Oregon statute addresses Limits
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Key Points
01Part of Oregon statutory law
02Referenced as Oregon Code § 367.181
03Subject to legislative amendments
04Consult a licensed attorney for application to specific cases
Frequently Asked Questions
This section of Oregon law addresses Limits
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