Oregon Code § 391.590·Enacted ·Last updated March 01, 2026
Statute Text
Bonds
not general obligation of state.
All bonds issued by the Oregon Mass Transportation Financing Authority under
the provisions of ORS 267.227 and 391.500 to 391.660 shall not constitute a
debt, liability or general obligation of this state, or a pledge of the faith
and credit of this state, but shall be payable solely from the income revenues,
receipts or assets pledged for their payment. Each bond issued shall contain on
the face a statement that the State of Oregon or the authority shall not be
obligated to pay the same nor the interest thereon except from the income
revenues, receipts or assets pledged therefor, and that neither the general
obligation, full faith and credit nor the taxing power of this state is pledged
to the payment of the principal of or the interest on such bond. [1977 c.662 §11]
Plain English Explanation
This Oregon statute addresses Bonds
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Key Points
01Part of Oregon statutory law
02Referenced as Oregon Code § 391.590
03Subject to legislative amendments
04Consult a licensed attorney for application to specific cases
Frequently Asked Questions
This section of Oregon law addresses Bonds
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