Oregon Code § 470.615·Enacted ·Last updated March 01, 2026
Statute Text
Payment of bonds.
(1) Revenue bonds issued under ORS 470.610 do not constitute a debt, liability
or general obligation of this state or any political subdivision of this state
or a pledge of the faith and credit of this state or any political subdivision
of this state, but shall be payable solely from the revenues, moneys and other
assets of the Energy Project Bond Loan Fund and the Energy Project Supplemental
Fund that are pledged to the repayment in the energy revenue bond declaration.
(2) Each revenue
bond issued under ORS 470.610 shall contain on the face of the bond a statement
that the department is not obligated to pay the bond or the interest on the
bond except from the revenues or assets pledged for those payments and that
neither the faith and credit nor the taxing power of this state or any
political subdivision of this state is pledged to the payment of the principal
of or the interest on the bond.
(3) A utility or
sustainable energy project manager is not liable for the payment of the
principal of or the interest on any bond issued under this section. [2009 c.753
§23]
Plain English Explanation
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Key Points
01Part of Oregon statutory law
02Referenced as Oregon Code § 470.615
03Subject to legislative amendments
04Consult a licensed attorney for application to specific cases
Frequently Asked Questions
This section of Oregon law addresses Payment of bonds. Read the full statute text above for details.
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