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Oregon Revised Statutes Highways, Roads, Bridges and Ferries § 367.635

Current as of January 01, 2023 | Updated by Findlaw Staff

(1) A bond issued under ORS 367.615:

(a) Must contain on its face a statement that the ad valorem taxing power of this state or any political subdivision of this state is not pledged to the payment of the principal or the interest on the bond.

(b) Shall be issued as provided in ORS chapter 286A.

(c) Must mature on or before a date determined by calculation of the expected economic life of the improvements, assets and projects financed with the proceeds of the bonds. Subject to this paragraph, the time bonds mature may be as established by indenture under ORS 367.640.

(2) The State Treasurer shall determine, in consultation with the department and consistent with ORS chapter 286A, all aspects relating to the sale of bonds under ORS 367.615 that are not otherwise specifically provided, including rate of interest and discount, if any.

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Cite this article: FindLaw.com - Oregon Revised Statutes Highways, Roads, Bridges and Ferries § 367.635 - last updated January 01, 2023 | https://codes.findlaw.com/or/title-31-highways-roads-bridges-and-ferries/or-rev-st-sect-367-635/

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