ORS 552.645
General obligation bonds


(1)

For the purpose of carrying into effect any of the powers granted by this chapter, a district, when authorized at any properly called election held for the purpose, has the power to borrow money, and sell and dispose of general obligation bonds. Outstanding bonds shall never exceed in the aggregate two and one-half percent of the real market value of all taxable property within the district.

(2)

The bonds shall be issued from time to time by the district board in behalf of the district as authorized by the electors thereof. The bonds shall mature serially within not to exceed 50 years from issue date. However, for an indebtedness to the federal government or this state, the district may issue one or more bonds of the denominations agreed upon. Bonds shall bear interest at a rate payable semiannually as the board shall determine. The bonds shall be so conditioned that the district shall promise and agree therein to pay to the bearer at a place named therein, the principal sum, with interest at the rate named therein, payable semiannually, in accordance with the tenor and terms of the interest coupons attached.

(3)

For the purpose of additionally securing the payment of the principal and interest on general obligation bonds issued under this section, the district shall have the power, by resolution of the district, which resolution shall constitute part of the contract with the holders of the bonds, to pledge all or any part of the net revenue of the district. The district board may adopt such a resolution without submitting the question of the pledge to the electors of the district. [1969 c.606 §47; 1983 c.347 §30; 1991 c.459 §430]

Source: Section 552.645 — General obligation bonds, https://www.­oregonlegislature.­gov/bills_laws/ors/ors552.­html.

552.013
Definitions
552.108
Creation of water improvement district
552.113
Water rights protected
552.118
Petition contents
552.133
Election on formation
552.138
Status of final order
552.143
Proceedings to test validity of order or act of district board
552.208
Election of first board of directors
552.218
Organizational meeting
552.223
Duties of district board
552.305
Powers of districts generally
552.310
Condemnation
552.315
Right to enter and survey land
552.320
Operation of water works and sale of water
552.325
Water charges
552.330
Water user regulations
552.345
User regulations
552.350
Cooperation with the United States
552.403
Watershed improvement plans
552.408
District projects
552.413
Engineering plans prepared by other agencies
552.418
Notice of engineering plan
552.423
Advertising for bids on construction contract
552.428
Letting construction contract
552.433
Chief engineer of district to superintend work
552.438
Construction on public land or right of way, or along watercourse
552.603
Financing construction, operation or maintenance of district works
552.608
Assessment of cost of works against benefited land
552.613
Improvement bonds
552.618
Effect of irrigation contract
552.623
Ad valorem tax levy, collection, enforcement
552.624
Filing boundary change with county assessor and Department of Revenue
552.625
Maximum rate of tax levy
552.630
Service and user charges
552.635
Levy to establish revolving fund
552.645
General obligation bonds
552.655
Refunding bonds
552.660
Process for issuance of bonds
552.670
Loan contracts with state or federal agencies
552.710
Subdistrict procedure
552.720
Dissolution of irrigation, drainage or water control district and transfer of assets and liabilities to water improvement district
552.740
Notice requirements
552.750
Election laws applicable
552.810
Procedure for inclusion or exclusion of land in district
552.830
Date of election on dissolution of district
552.992
Penalties
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