2011 ORS § 468.439¹
Borrowing authority of public agency

Notwithstanding any limitation contained in any other provision of law or local charter, a public agency may:

(1) Borrow money from the Water Pollution Control Revolving Fund through the Department of Environmental Quality;

(2) Enter into loan agreements and make related agreements with the department in which the public agency agrees to repay the borrowed money in accordance with the terms of the loan agreement;

(3) Covenant with the department regarding the operation of treatment works and the imposition and collection of rates, fees and charges for the treatment works;

(4) Pledge all or part of the revenues of the treatment works to pay the amount due under the loan agreement and notes in accordance with ORS chapter 287A; and

(5) Provide any additional security and exercise any powers permitted to an issuer of revenue bonds under ORS chapter 287A. [1989 c.560 §2; 1993 c.411 §9; 2007 c.783 §206]