Obligations of authority not obligations of local government
- • exception
(1) Except as provided in subsection (2) of this section, the debts, obligations and other liabilities of an authority are not a general or other obligation or liability of the local government that created the authority.
(2) A local government may incur debt, including the issuance of bonds under any bonding authority available to the local government, on behalf of an authority created by the local government and, by ordinance or resolution, deem a debt incurred under this subsection to be a general obligation of the local government and a charge upon its tax revenues. [2015 c.631 §5]
Note: See note under 465.600 (Definitions for ORS 465.600 to 465.621).
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