Oregon Revised Statutes Chapter 778 § 778.145 — Issuance of revenue bonds; election; use of proceeds; status of bonds

Issuance of revenue bonds; election; use of proceeds; status of bonds. (1) For the purpose of carrying into effect all or any of the powers granted to ports, the Port of Portland may from time to time issue and sell revenue bonds without the necessity of the electors of the port authorizing the same. Proceeds from the sale of such bonds may be used also to cover the costs incurred in issuing such bonds, and preliminary work incident to carrying out such purposes and powers, including but not limited to planning, engineering, inspection, accounting, fiscal, legal and trustee expenses, the cost of issuance of bonds, engraving, printing, advertising and other similar expenses, and to pay interest on the outstanding bonds issued for any project during the period of actual construction and for such period thereafter as the port may determine, and to establish, maintain or increase any reserves for debt service on the bonds and for working capital. Such revenue bonds shall not in any manner or to any extent be a general obligation of the port nor a charge upon any other revenues or property of the port not specifically pledged thereto. (2) In addition to the power granted by subsection (1) of this section, a port may authorize and issue revenue bonds under ORS 287A.150. [1971 c.546 §2; 2007 c.783 §230]