Go to Previous Versions
of
this Section
2025 Oregon Revised Statutes
Volume : 15 - Water Resources, Agriculture and Food
Chapter 550 - Urban Flood Safety and Water Quality District
Section 550.340 - General obligation bonds.
Universal Citation:
OR Rev Stat § 550.340 (2025)
Learn more
This media-neutral citation is based
on the American Association of Law Libraries Universal Citation Guide and is not
necessarily the official citation.
(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]
Disclaimer: These codes may not be the most recent version. Oregon may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
