ORS 391.590¹
Bonds not general obligation of state

All bonds issued by the Oregon Mass Transportation Financing Authority under the provisions of ORS 267.227 (Relationship with Oregon Mass Transportation Financing Authority) and 391.500 (Declaration of policy) to 391.660 (Short title) 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. [1977 c.662 §11]

Notes of Decisions

Supreme Court lacked jurisdic­tion to determine constitu­tionality of Oregon Mass Transporta­tion Financing Act where peti­tion, which alleged that Mass Transporta­tion Financing Authority was unable or unwilling to proceed with statutory program in absence of clear declara­tion that Act was constitu­tional, disclosed no constitu­tional controversy invoking either judicial authority of court under Const. Art. VII § 1 or original jurisdic­tion under this Act. In re Oregon Mass Transp. Fin. Auth., 284 Or 241, 586 P2d 784 (1978)

1 Legislative Counsel Committee, CHAPTER 391—Mass Transportation, https://­www.­oregonlegislature.­gov/­bills_laws/­Archive/­2007ors391.­pdf (2007) (last ac­cessed Feb. 12, 2009).
 
2 Legislative Counsel Committee, Annotations to the Oregon Revised Stat­utes, Cumulative Supplement - 2007, Chapter 391, https://­www.­oregonlegislature.­gov/­bills_laws/­ors/­391ano.­htm (2007) (last ac­cessed Feb. 12, 2009).
 
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