Petition and order for bond election
- • debt limitation
Whenever a petition therefor, signed by not less than 10 percent of the electors of Multnomah County and stating the amount of the proposed bond issue is filed with the county clerk, the board of county commissioners shall, subject to ORS 382.355 (Filing and presentation of petition) and 382.360 (Appeals from orders of board of county commissioners), order an election to determine whether or not the county shall issue bonds for the construction of the bridge mentioned in ORS 382.345 (Multnomah County constructing and financing Willamette River bridges). However, if the county debt for the construction of permanent roads already incurred or authorized, together with the new debt sought to be created by the petition, exceeds six percent of the assessed valuation of all the property in the county, then the board of county commissioners shall disregard the petition.
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