When authorized by a majority of electors voting at an election called for that purpose by the directors of a soil and water conservation district, the directors may issue general obligation bonds of the district, not exceeding in value the amount stated in the notice of election and for the purpose named in the notice as provided in ORS chapter 287A.
Shall issue general obligation bonds authorized under this section as provided in ORS chapter 287A; and
May issue refunding bonds as provided in ORS chapter 287A.
Taxes that are levied by a soil and water conservation district to pay principal, interest and premium, if any, on general obligation bonds issued pursuant to this section are separate from and in addition to taxes levied pursuant to ORS 568.806 (Ad valorem tax). [2005 c.282 §3; 2007 c.783 §222]