Local Government Borrowing

ORS 287A.105
Limitation on bonded indebtedness of county

(1)

A county may incur bonded indebtedness within the meaning of section 10, Article XI of the Oregon Constitution, by issuing revenue bonds when a county is expressly authorized to issue revenue bonds by a law other than this section. The amount of revenue bonds permitted by this section may not exceed the lesser of:

(a)

One percent of the real market value of all taxable property in the county, calculated as provided in ORS 308.207 (Computation of real market value for taxing or bonding limitations); or

(b)

A limitation on bonded indebtedness in the county charter.

(2)

The limitation on bonded indebtedness in subsection (1) of this section does not apply to revenue bonds issued to finance pension liabilities under ORS 238.692 (Definitions for ORS 238) to 238.698 (Funds diversion agreement) or any other law in effect prior to enactment of ORS 238.692 (Definitions for ORS 238) to 238.698 (Funds diversion agreement). [2007 c.783 §45]
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Last accessed
Mar. 11, 2023

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