Local Government Borrowing

ORS 287A.380
Tax levy to pay maturing general obligation advance refunding bonds


(1)

Pursuant to ORS 287A.140 (Ad valorem tax levy to pay general obligation bonds), a public body shall levy taxes to pay the maturing interest and principal of advance refunding bonds that are general obligation bonds.

(2)

Notwithstanding ORS 287A.140 (Ad valorem tax levy to pay general obligation bonds) or any other provision of law, a public body may not cause a tax to be levied to pay the maturing interest and principal of general obligation bonds that have been defeased as described in ORS 287A.195 (Compliance with constitutional or statutory debt limits) (2), unless the amounts held to defease the bonds are insufficient. [2007 c.783 §59]
WARRANTS AND CHECKS; INTEREST; UNCLAIMED WARRANTS AND CHECKS; MASTER WARRANTS

Source

Last accessed
Jun. 26, 2021