ORS 267.330
General obligation bonds

  • conditions
  • interest rate
  • payment of principal and interest
  • pledge of net revenue

(1)

To carry out any of the powers granted by ORS 267.010 (Definitions for ORS 267.010 to 267.394) to 267.394 (Investment of certain funds held by TriMet), a district, when authorized at any properly called election held for the purpose, may 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 30 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 may by resolution of the board, which resolution shall constitute part of the contract with the holders of the bonds, 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.643 §28; 1983 c.347 §19; 1991 c.459 §365]

Source: Section 267.330 — General obligation bonds; conditions; interest rate; payment of principal and interest; pledge of net revenue, https://www.­oregonlegislature.­gov/bills_laws/ors/ors267.­html.

267.001
Authority of certain mass transit and transportation districts to impose vehicle registration fees
267.010
Definitions for ORS 267.010 to 267.394
267.020
Transfer of transit system to metropolitan service district
267.030
Use of alternative fuels for certain district vehicles
267.080
Creation of district
267.085
Resolution to form district
267.090
Directors
267.095
Terms of directors first appointed
267.097
Governor to solicit recommendations for director in metropolitan statistical area with population over 400,000
267.107
Resolution to create certain districts
267.108
Appointment of directors
267.114
Minimum area of district
267.120
Officers of board
267.125
Meetings of board
267.130
Additional compensation prohibited
267.135
General manager
267.140
Duties of general manager
267.145
General manager’s attendance at board meetings
267.150
Ordinances
267.153
Administrative process for adjudicating ordinance violations
267.154
Collection of data relating to administrative process for adjudicating ordinance violations
267.170
Initiative and referendum
267.200
Existence, status and general powers of districts
267.203
Authority to enter into transaction for electricity or diesel fuel
267.205
Classification and designation of service areas
267.207
Change of district boundaries
267.208
Effective date of change of boundaries
267.210
Preparation of general plan for mass transit system
267.218
Feasibility reports and public bidding not required for construction and improvement projects costing less than $50,000
267.225
Intergovernmental agreements
267.227
Relationship with Oregon Mass Transportation Financing Authority
267.230
Exemption from public utility or railroad regulation
267.235
Protection of employees’ rights when an operating transportation system is acquired
267.237
Criminal records check
267.240
Accessibility of facilities and equipment to elderly persons and persons who have disabilities
267.245
District exempt from right of way fencing requirements
267.247
Acquisition of district lands by adverse possession or operation of statute of limitations prohibited
267.250
Definitions for ORS 267.250 to 267.263
267.253
Petition for withdrawal from district
267.255
Hearing on petition
267.257
Study of area proposed to be withdrawn
267.260
Withdrawal ordinance
267.263
Withdrawal of territory not subject to boundary commission review
267.265
Use of moneys derived from withdrawal of territory from district
267.300
Authority of district to finance system
267.302
Restrictions on financing for districts formed under ORS 267.107
267.305
Levy, collection, enforcement of ad valorem taxes
267.310
Revolving fund
267.320
User charges, fees and tolls
267.325
Lease purchase agreements
267.330
General obligation bonds
267.334
Electoral approval for issuance of general obligation bonds by Tri-Met to fund extension of light rail
267.335
Authority to issue revenue bonds
267.340
Refunding bonds
267.345
Issuance of bonds
267.360
Business, trade, occupational and professional licenses and fees
267.370
District taxing authority
267.380
Definitions for ORS 267.380 and 267.385
267.385
Employer payroll tax
267.387
Restrictions on increase in payroll tax
267.390
Acceptance of funds from United States
267.394
Investment of certain funds held by TriMet
267.400
Authority to issue short-term obligations
267.410
Certain districts authorized to impose employer payroll tax on state agencies and political subdivisions
267.420
Employer payroll tax on State of Oregon and political subdivisions
267.430
Certain state agencies exempt from employer payroll tax
267.480
TriMet Crash Advisory Committee
267.510
Definitions for ORS 267.510 to 267.650
267.515
Application of ORS chapter 255 to district
267.517
Use of alternative fuels for certain district vehicles
267.520
Method of forming district
267.530
Establishment of permanent tax rate limit at time of formation
267.540
Governing body
267.550
Status of district
267.560
General powers
267.570
Powers relating to public transportation
267.575
Preparation of public transit system plan
267.580
Employees
267.590
Interagency agreements
267.612
Acquisition of district lands by adverse possession or operation of statute of limitations prohibited
267.615
Financing methods
267.620
Power to levy taxes
267.622
Filing boundary change with county assessor and Department of Revenue
267.630
Issuance and sale of bonds
267.640
Refunding bonds
267.650
Finance elections
267.990
Penalties
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