2011 Oregon Revised Statutes
ORS Volume 11, Chapters 431 - 470
ORS Chapter 456
456.180 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.
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