2017 ORS 294.477¹
Inclusion in budget of estimated requirements for bonds approved at May election

(1) If the voters of a municipal corporation approve the issuance of general obligation bonds at a May election, the budget of the municipal corporation adopted under ORS 294.456 (Governing body to adopt budget, make appropriations, declare and categorize property tax amount or rate) or a supplemental budget adopted under ORS 294.471 (Supplemental budget in certain cases) may include estimated requirements to pay debt service on the bonds during the ensuing year or each of the years of the ensuing budget period.

(2) On or after July 1 and before September 15 following the election described in subsection (1) of this section, the governing body of the municipal corporation may adopt an ordinance or resolution imposing and categorizing a tax levy necessary to pay the estimated debt service on the bonds described in subsection (1) of this section. The portion of an ordinance or resolution that is adopted under this subsection does not become effective until the debt is incurred.

(3) The assessor of the county in which the municipal corporation is located shall accept a written notice certifying the estimated amount of ad valorem property taxes to be imposed by the municipal corporation pursuant to an ordinance or resolution adopted under subsection (2) of this section, or of a subsequent ordinance or resolution imposing and categorizing a tax levy in an amount that is less than the amount imposed under subsection (2) of this section, on or before September 15 of the property tax year, provided the governing body of the municipal corporation timely files for an extension under ORS 310.060 (Notice certifying taxes). [2017 c.26 §2]

Notes of Decisions

Tax court properly invalidated sanitary authority’s proposed tax where authority had sufficient federal grant and other funds available to meet pay­ments due on its bonds without tax. Bashaw, Dept. of Rev. v. Bear Creek Valley San. Auth., 287 Or 113, 597 P2d 822 (1979)

Atty. Gen. Opinions

Budgeting deferred compensa­tion assets and liabilities, (1976) Vol 37, p 1284; exclusion of municipal financial activities with respect to urban renewal agency projects, (1977) Vol 38, p 1062

1 Legislative Counsel Committee, CHAPTER 294—County and Municipal Financial Administration, https://­www.­oregonlegislature.­gov/­bills_laws/­ors/­ors294.­html (2017) (last ac­cessed Mar. 30, 2018).
2 Legislative Counsel Committee, Annotations to the Oregon Revised Stat­utes, Cumulative Supplement - 2017, Chapter 294, https://­www.­oregonlegislature.­gov/­bills_laws/­ors/­ano294.­html (2017) (last ac­cessed Mar. 30, 2018).
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.