ORS 267.330
General obligation bonds

  • conditions
  • interest rate
  • payment of principal and interest
  • pledge of net revenue

(1)

To carry out any of the powers granted by ORS 267.010 (Definitions for ORS 267.010 to 267.394) to 267.394 (Investment of certain funds held by TriMet), a district, when authorized at any properly called election held for the purpose, may borrow money, and sell and dispose of general obligation bonds. Outstanding bonds shall never exceed in the aggregate two and one-half percent of the real market value of all taxable property within the district.

(2)

The bonds shall be issued from time to time by the district board in behalf of the district as authorized by the electors thereof. The bonds shall mature serially within not to exceed 30 years from issue date. However, for an indebtedness to the federal government or this state, the district may issue one or more bonds of the denominations agreed upon. Bonds shall bear interest at a rate, payable semiannually, as the board shall determine. The bonds shall be so conditioned that the district shall promise and agree therein to pay to the bearer at a place named therein, the principal sum, with interest at the rate named therein, payable semiannually, in accordance with the tenor and terms of the interest coupons attached.

(3)

For the purpose of additionally securing the payment of the principal and interest on general obligation bonds issued under this section, the district may by resolution of the board, which resolution shall constitute part of the contract with the holders of the bonds, pledge all or any part of the net revenue of the district. The district board may adopt such a resolution without submitting the question of the pledge to the electors of the district. [1969 c.643 §28; 1983 c.347 §19; 1991 c.459 §365]

Source: Section 267.330 — General obligation bonds; conditions; interest rate; payment of principal and interest; pledge of net revenue, https://www.­oregonlegislature.­gov/bills_laws/ors/ors267.­html.

267.001
Authority of certain mass transit and transportation districts to impose vehicle registration fees 267.010
Definitions for ORS 267.010 to 267.394 267.020
Transfer of transit system to metropolitan service district 267.030
Use of alternative fuels for certain district vehicles 267.080
Creation of district 267.085
Resolution to form district 267.090
Directors 267.095
Terms of directors first appointed 267.097
Governor to solicit recommendations for director in metropolitan statistical area with population over 400,000 267.107
Resolution to create certain districts 267.108
Appointment of directors 267.114
Minimum area of district 267.120
Officers of board 267.125
Meetings of board 267.130
Additional compensation prohibited 267.135
General manager 267.140
Duties of general manager 267.145
General manager’s attendance at board meetings 267.150
Ordinances 267.153
Administrative process for adjudicating ordinance violations 267.154
Collection of data relating to administrative process for adjudicating ordinance violations 267.170
Initiative and referendum 267.200
Existence, status and general powers of districts 267.203
Authority to enter into transaction for electricity or diesel fuel 267.205
Classification and designation of service areas 267.207
Change of district boundaries 267.208
Effective date of change of boundaries 267.210
Preparation of general plan for mass transit system 267.218
Feasibility reports and public bidding not required for construction and improvement projects costing less than $50,000 267.225
Intergovernmental agreements 267.227
Relationship with Oregon Mass Transportation Financing Authority 267.230
Exemption from public utility or railroad regulation 267.235
Protection of employees’ rights when an operating transportation system is acquired 267.237
Criminal records check 267.240
Accessibility of facilities and equipment to elderly persons and persons who have disabilities 267.245
District exempt from right of way fencing requirements 267.247
Acquisition of district lands by adverse possession or operation of statute of limitations prohibited 267.250
Definitions for ORS 267.250 to 267.263 267.253
Petition for withdrawal from district 267.255
Hearing on petition 267.257
Study of area proposed to be withdrawn 267.260
Withdrawal ordinance 267.263
Withdrawal of territory not subject to boundary commission review 267.265
Use of moneys derived from withdrawal of territory from district 267.300
Authority of district to finance system 267.302
Restrictions on financing for districts formed under ORS 267.107 267.305
Levy, collection, enforcement of ad valorem taxes 267.310
Revolving fund 267.320
User charges, fees and tolls 267.325
Lease purchase agreements 267.330
General obligation bonds 267.334
Electoral approval for issuance of general obligation bonds by Tri-Met to fund extension of light rail 267.335
Authority to issue revenue bonds 267.340
Refunding bonds 267.345
Issuance of bonds 267.360
Business, trade, occupational and professional licenses and fees 267.370
District taxing authority 267.380
Definitions for ORS 267.380 and 267.385 267.385
Employer payroll tax 267.387
Restrictions on increase in payroll tax 267.390
Acceptance of funds from United States 267.394
Investment of certain funds held by TriMet 267.400
Authority to issue short-term obligations 267.410
Certain districts authorized to impose employer payroll tax on state agencies and political subdivisions 267.420
Employer payroll tax on State of Oregon and political subdivisions 267.430
Certain state agencies exempt from employer payroll tax 267.480
TriMet Crash Advisory Committee 267.510
Definitions for ORS 267.510 to 267.650 267.515
Application of ORS chapter 255 to district 267.517
Use of alternative fuels for certain district vehicles 267.520
Method of forming district 267.530
Establishment of permanent tax rate limit at time of formation 267.540
Governing body 267.550
Status of district 267.560
General powers 267.570
Powers relating to public transportation 267.575
Preparation of public transit system plan 267.580
Employees 267.590
Interagency agreements 267.612
Acquisition of district lands by adverse possession or operation of statute of limitations prohibited 267.615
Financing methods 267.620
Power to levy taxes 267.622
Filing boundary change with county assessor and Department of Revenue 267.630
Issuance and sale of bonds 267.640
Refunding bonds 267.650
Finance elections 267.990
Penalties
Green check means up to date. Up to date

Current through early 2024

§ 267.330’s source at oregon​.gov