Authority to issue general obligation bonds
- • elector approval required
- • bond debt limit
(1) For the purpose of carrying into effect the powers granted by ORS 403.300 (Definitions for ORS 403.300 to 403.380) to 403.380 (Advisory committee), as well as refunding outstanding obligations, a 9-1-1 communications district, when authorized by a majority of the votes cast at an election by electors of the district, may borrow money and sell and dispose of general obligation bonds.
(2) The general obligations outstanding at any one time may not exceed in aggregate principal amount one percent of the real market value of all taxable property within the district computed in accordance with ORS 308.207 (Computation of real market value for taxing or bonding limitations).
(3) The bonds must mature serially not more than 30 years from the issue date and must be issued as prescribed in ORS chapter 287A. [Formerly 401.844]
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.