Small Scale Local Energy Projects

ORS 470.615
Payment of bonds


(1)

Revenue bonds issued under ORS 470.610 (Issuance of bonds) do not constitute a debt, liability or general obligation of this state or any political subdivision of this state or a pledge of the faith and credit of this state or any political subdivision of this state, but shall be payable solely from the revenues, moneys and other assets of the Energy Project Bond Loan Fund and the Energy Project Supplemental Fund that are pledged to the repayment in the energy revenue bond declaration.

(2)

Each revenue bond issued under ORS 470.610 (Issuance of bonds) shall contain on the face of the bond a statement that the department is not obligated to pay the bond or the interest on the bond except from the revenues or assets pledged for those payments and that neither the faith and credit nor the taxing power of this state or any political subdivision of this state is pledged to the payment of the principal of or the interest on the bond.

(3)

A utility or sustainable energy project manager is not liable for the payment of the principal of or the interest on any bond issued under this section. [2009 c.753 §23]
Chapter 470

Notes of Decisions

There is nothing in this chapter which requires the Department of Energy or its director to recover loans or withhold future loan installments for the purpose of compelling compliance by the borrower with the wage and employment conditions of state law. State ex rel Building Council v. Bureau of Labor, 61 Or App 22, 656 P2d 325 (1982), Sup Ct review denied


Source

Last accessed
Jun. 26, 2021