Metropolitan Service Districts

ORS 268.600
Issuance of revenue bonds

  • use of proceeds
  • status of bonds


For the purpose of carrying into effect all or any of the powers granted to metropolitan service districts, a district may from time to time issue and sell revenue bonds without the necessity of the electors of a district authorizing the bonds. Proceeds from the sale of such bonds may be used to cover the costs incurred in issuing such bonds, and preliminary work incident to carrying out such purposes and powers, including but not limited to planning, engineering, inspection, accounting, fiscal, legal and trustee expenses, the costs of issuance of bonds, engraving, printing, advertising and other similar expenses, and to pay interest on the outstanding bonds issued for any project during the period of actual construction and for such period thereafter as a district may determine, and to establish, maintain or increase any reserves for debt service on the bonds. Such revenue bonds shall not in any manner or to any extent be a general obligation of a district nor a charge upon any other revenues or property of a district not specifically pledged thereto. A district may issue revenue bonds pursuant to ORS 268.600 (Issuance of revenue bonds) to 268.660 (Effect of ORS 268.600 to 268.660) for the purpose of financing landfills, transfer facilities, resource recovery facilities and other improvements, facilities and equipment necessary or desirable for the solid and liquid waste disposal system of the district regardless of whether such improvements, facilities or equipment are to be owned by the district or any other public or private agency or person and regardless of whether such improvements, facilities or equipment are to be located within or without the district. In connection with the issuance of revenue bonds to finance any such improvements, facilities or equipment which are to be owned by any other public or private agency or person, the district shall enter into a lease-purchase, installment sale or loan agreement with such public or private agency or person providing for lease-purchase, installment sale or loan payments which, together with other revenues pledged for the payment of such revenue bonds as provided in ORS 268.610 (Ordinance authorizing revenue bonds), shall be sufficient to pay when due the principal of, premium, if any, and interest on such revenue bonds. [1977 c.95 §9; 1987 c.623 §1]
Chapter 268

Notes of Decisions

Limitation of chapter applicability to statutorily defined area within boundaries of Clackamas, Multnomah and Washington counties and preclusion of formation of additional metropolitan service districts in state, did not create corporation by special law in violation of Const. Art. XI sec 2. Reilley v. Secretary of State, 288 Or 573, 607 P2d 162 (1980)

Atty. Gen. Opinions

Authority of district to borrow waste disposal planning funds from Environmental Quality Commission, (1972) Vol 35, p 1117; Motor Vehicle Emission Control Inspection Program funding, (1974) Vol 37, p 130

Law Review Citations

51 OLR 53 (1971); 93 OLR 455 (2014)


Source

Last accessed
Jun. 26, 2021