Oregon Code § 550.340·Enacted ·Last updated March 01, 2026
Statute Text
General obligation bonds.
(1)(a) Upon approval of the electors of the urban flood safety and water
quality district, the district may issue general obligation bonds. The district
may not issue or have outstanding at the time of issuance general obligation
bonds in a principal amount that exceeds two percent of the real market value
of all taxable property in the district, calculated as provided under ORS
308.207.
(b) Bonds issued
under this section may be issued solely for the purpose of financing:
(A) Capital
construction or capital improvements within the meaning of Article XI, section
11, of the Oregon Constitution;
(B) Capital
construction or improvements within the meaning of Article XI, section 11b, of
the Oregon Constitution; or
(C) Capital costs
within the meaning of Article XI, section 11L, of the Oregon Constitution.
(2) All general
obligation bonds, including refunding bonds, issued under this section shall be
issued as prescribed in ORS chapter 287A. [2019 c.621 §20]
Plain English Explanation
This Oregon statute addresses General obligation bonds. AI-powered analysis coming soon.
Key Points
01Part of Oregon statutory law
02Referenced as Oregon Code § 550.340
03Subject to legislative amendments
04Consult a licensed attorney for application to specific cases
Frequently Asked Questions
This section of Oregon law addresses General obligation bonds. Read the full statute text above for details.
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