ORS 266.490
Bond election at discretion of board or on petition

(1)

For the purpose of providing funds with which to put into effect one or any combination of any of the purposes authorized under ORS 266.480 (Power to contract bonded indebtedness for certain purposes), the district board, when authorized by a majority of those voting at an election called for that purpose, may borrow money and sell and dispose of general obligation bonds.

(2)

The district board:

(a)

May order an election under this section on its own resolution; or

(b)

Shall order an election under this section when a petition is filed as provided in this section.

(3)

A petition shall specify a dollar amount for carrying out any one or more of the purposes authorized by ORS 266.480 (Power to contract bonded indebtedness for certain purposes). The requirements for preparing, circulating and filing a petition under this section shall be as provided for an initiative petition in ORS 255.135 (Prospective petition) to 255.205 (Retention of petition materials). [Amended by 1967 c.609 §4; 1969 c.668 §23; 1975 c.627 §3; 1979 c.190 §410; 1983 c.350 §123]

Source: Section 266.490 — Bond election at discretion of board or on petition, https://www.­oregonlegislature.­gov/bills_laws/ors/ors266.­html.

Green check means up to date. Up to date

Current through early 2024

§ 266.490’s source at oregon​.gov