ORS 777.455¹
Authority to issue refunding bonds for specified purposes
  • amounts

A port may, in accordance with ORS 777.455 (Authority to issue refunding bonds for specified purposes) to 777.505 (Delivery of bonds to purchaser), issue refunding bonds for the purpose of refunding and retiring all or any part of its outstanding bonds when the holders are willing to surrender such bonds. When judgment is taken against a port based on bonds and interest coupons issued by the port, refunding bonds may be issued to provide funds with which to pay such judgment. Such bonds may be issued, pursuant to an ordinance or resolution adopted by the board, without elector approval. Such bonds may be issued in the full amount of the outstanding bonds and any judgment on bonds and interest coupons less any sinking funds applicable thereto. The full faith and credit of the issuing port shall be pledged to the payment of the principal of and interest on each of such bonds. Debt limitations imposed by law do not apply to refunding bonds. [Amended by 1971 c.728 §77]

Law Review Cita­tions

51 OLR 53 (1971)

Chapter 777

Notes of Decisions

Port district’s power to formulate rules and regula­tions to prevent estuary and stream pollu­tion within its boundaries did not give it standing to object to power supply contract between Bonneville Power Administra­tion and proposed aluminum plant. Port of Astoria v. Hodel, 595 F2d 467 (1979)

1 Legislative Counsel Committee, CHAPTER 777—Ports Generally, https://­www.­oregonlegislature.­gov/­bills_laws/­ors/­ors777.­html (2019) (last ac­cessed May 16, 2020).
2 Legislative Counsel Committee, Annotations to the Oregon Revised Stat­utes, Cumulative Supplement - 2019, Chapter 777, https://­www.­oregonlegislature.­gov/­bills_laws/­ors/­ano777.­html (2019) (last ac­cessed May 16, 2020).
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. Currency Information