Oregon Code § 456.180·Enacted ·Last updated March 01, 2026
Statute Text
Liability on bonds; debt limitation.
(1) Neither the commissioners of an authority nor any person executing the
bonds shall be liable personally on the bonds by reason of the issuance
thereof.
(2) The bonds and
other obligations of an authority shall not be a debt of the city, the county,
the state or any political subdivision thereof, and the bonds and obligations
shall so state on their face. Neither the city, the county, nor the state or any
political subdivision thereof shall be liable thereon. Nor, in any event, shall
such bonds or obligations be payable out of any funds or properties other than
those of the authority.
(3) The bonds
shall not constitute an indebtedness within the meaning of any constitutional
or statutory debt limitation or restriction.
Plain English Explanation
This Oregon statute addresses Liability on bonds; debt limitation. AI-powered analysis coming soon.
Key Points
01Part of Oregon statutory law
02Referenced as Oregon Code § 456.180
03Subject to legislative amendments
04Consult a licensed attorney for application to specific cases
Frequently Asked Questions
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