ORS 287A.050
Authority of city to issue general obligation bonds

(1)

Upon approval of the electors of a city, the city may issue general obligation bonds to finance:

(a)

Capital construction or capital improvements permitted by Article XI, sections 11 and 11b, of the Oregon Constitution.

(b)

Capital costs permitted by Article XI, section 11L, of the Oregon Constitution.

(2)

Unless the city charter provides a lesser limitation, a city may not issue or have outstanding at the time of issuance general obligation bonds in a principal amount that exceeds three percent of the real market value of the taxable property within its boundaries, calculated as provided in ORS 308.207 (Computation of real market value for taxing or bonding limitations).

(3)

The limitation described in subsection (2) of this section does not apply to general obligation bonds issued:

(a)

To finance the costs of local improvements assessed and paid for in installments under statutory or charter authority.

(b)

To finance capital construction or capital improvements permitted by Article XI, sections 11 and 11b, of the Oregon Constitution, or to finance capital costs permitted by Article XI, section 11L, of the Oregon Constitution, for:

(A)

Water supply, treatment or distribution;

(B)

Sanitary or storm sewage collection or treatment;

(C)

Hospitals or infirmaries;

(D)

Gas, power or lighting; or

(E)

Off-street motor vehicle parking facilities. [2007 c.783 §43; 2013 c.491 §3]

Source: Section 287A.050 — Authority of city to issue general obligation bonds, https://www.­oregonlegislature.­gov/bills_laws/ors/ors287A.­html.

Law Review Citations

50 WLR 619 (2014)

287A.001
Definitions for ORS chapter 287A 287A.010
Powers conveyed to public bodies 287A.050
Authority of city to issue general obligation bonds 287A.100
Authority of county to issue general obligation bonds 287A.105
Limitation on bonded indebtedness of county 287A.140
Ad valorem tax levy to pay general obligation bonds 287A.145
Misspent proceeds of general obligation bonds 287A.150
Authority of public body to issue revenue bonds 287A.180
Short-term borrowing by public body 287A.195
Compliance with constitutional or statutory debt limits 287A.300
Terms and conditions of bond sales 287A.310
Definitions for ORS 287A.310 and 287A.315 287A.315
Pledge of full faith and credit and taxing power 287A.325
Covenants of public bodies regarding pledges 287A.335
Agreements for exchange of interest rates 287A.339
Termination payment of conduit borrower 287A.340
Credit enhancement devices 287A.343
Public body purchase of own bonds 287A.345
State taxation of bond interest 287A.350
Public records 287A.360
Current refunding bonds 287A.365
Advance refunding bonds and forward current refunding 287A.370
Proposed refunding plan for advance refunding bonds or forward current refunding 287A.375
Maximum amount of advance refunding bonds 287A.380
Tax levy to pay maturing general obligation advance refunding bonds 287A.472
Interest on municipal warrants not paid on presentation 287A.474
Warrants and checks more than two years old 287A.482
Definitions for ORS 287A.482 to 287A.488 287A.484
Master warrant procedure authorized if warrants would be not paid 287A.486
Procedure 287A.488
Taxes must be levied for payment of claims included in master warrant 287A.630
Oregon Municipal Debt Advisory Commission 287A.632
Meetings 287A.634
Powers and duties of commission 287A.640
Notice to commission of proposed issues
Green check means up to date. Up to date

Current through early 2024

§ 287A.050’s source at oregon​.gov