ORS 266.490¹
Bond election at discretion of board or on petition

(1) For the purpose of providing funds with which to put into effect one or any combination of any of the purposes authorized under ORS 266.480 (Power to contract bonded indebtedness for certain purposes), the district board, when authorized by a majority of those voting at an election called for that purpose, may borrow money and sell and dispose of general obligation bonds.

(2) The district board:

(a) May order an election under this section on its own resolution; or

(b) Shall order an election under this section when a petition is filed as provided in this section.

(3) A petition shall specify a dollar amount for carrying out any one or more of the purposes authorized by ORS 266.480 (Power to contract bonded indebtedness for certain purposes). The requirements for preparing, circulating and filing a petition under this section shall be as provided for an initiative petition in ORS 255.135 (Submitting prospective petition) to 255.205 (Retention of petition materials). [Amended by 1967 c.609 §4; 1969 c.668 §23; 1975 c.627 §3; 1979 c.190 §410; 1983 c.350 §123]

1 Legislative Counsel Committee, CHAPTER 266—Park and Recreation Districts, https://­www.­oregonlegislature.­gov/­bills_laws/­Archive/­2007ors266.­pdf (2007) (last ac­cessed Feb. 12, 2009).
2 OregonLaws.org contains the con­tents of Volume 21 of the ORS, inserted along­side the per­tin­ent statutes. See the preface to the ORS An­no­ta­tions for more information.
3 OregonLaws.org assembles these lists by analyzing references between Sections. Each listed item refers back to the current Section in its own text. The result reveals relationships in the code that may not have otherwise been apparent. Currency Information