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Current as of January 01, 2023 | Updated by Findlaw Staff
All bonds issued by the Oregon Mass Transportation Financing Authority under the provisions of ORS 267.227 and 391.500 to 391.660 shall not constitute a debt, liability or general obligation of this state, or a pledge of the faith and credit of this state, but shall be payable solely from the income revenues, receipts or assets pledged for their payment. Each bond issued shall contain on the face a statement that the State of Oregon or the authority shall not be obligated to pay the same nor the interest thereon except from the income revenues, receipts or assets pledged therefor, and that neither the general obligation, full faith and credit nor the taxing power of this state is pledged to the payment of the principal of or the interest on such bond.
Cite this article: FindLaw.com - Oregon Revised Statutes Highways, Roads, Bridges and Ferries § 391.590 - last updated January 01, 2023 | https://codes.findlaw.com/or/title-31-highways-roads-bridges-and-ferries/or-rev-st-sect-391-590/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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