General obligation bonds to include promise to pay principal amount
All general obligation bonds issued under ORS 470.220 (Issuance of bonds) to 470.290 (Bond indebtedness limited to constitutional limit) and Article XI-J of the Oregon Constitution shall contain a direct promise of the State of Oregon to pay the principal amount of the bonds, plus any accrued interest and any redemption premium. The principal of and the interest and redemption premium, if any, upon the bonds, when due, shall be paid at the fiscal agency of the State of Oregon. The charges imposed by that agency for its services shall be paid, upon approval by the State Treasurer, from the Small Scale Local Energy Project Administration and Bond Sinking Fund. [1979 c.672 §19; 1993 c.496 §5; 2005 c.201 §10; 2009 c.753 §69]
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