ORS 778.020
Acquisition of City of Portland property by port

  • assumption of bonds
  • election

(1)

The Port of Portland may purchase or otherwise acquire all or any of the docks, wharves, elevators, terminals, dry docks and other properties of the City of Portland that are under the charge and control of the dock commission of the city.

(2)

If the port purchases or otherwise acquires property as provided by subsection (1) of this section, the port may in payment therefor assume the payment of all or any part of the bonds, debentures and other obligations of the City of Portland issued, sold or incurred for the purpose of acquiring funds to construct, purchase or otherwise acquire the docks, wharves, elevators, terminals, dry docks or other properties. The aggregate amount of bonds, debentures and obligations so assumed shall not exceed a sum determined by the board to be the fair value of the property so acquired by the port. The limitation provided by ORS 778.030 (Power to issue general obligation bonds) shall not apply to bonds, debentures or other obligations assumed under this section.

(3)

The authority granted by this section shall not be exercised without the prior approval of the electors residing within the port expressed at an election called and held within the port at which such question is submitted. [Amended by 1971 c.728 §105]

Source: Section 778.020 — Acquisition of City of Portland property by port; assumption of bonds; election, https://www.­oregonlegislature.­gov/bills_laws/ors/ors778.­html.

778.005
Definitions 778.008
Port of Portland granted powers of ports formed under ORS chapter 777 778.010
District known as Port of Portland 778.015
Purposes and general powers of port 778.016
Best value standards for Port of Portland contracts and space leases 778.020
Acquisition of City of Portland property by port 778.025
Power to engage in certain commercial activities 778.030
Power to issue general obligation bonds 778.036
Issuance of bonds 778.040
General obligation bond issues to be approved by electors 778.045
Amount of general obligation bonds issued in one year limited 778.060
Expenditure of bond sale funds for operating expenses limited 778.065
Port taxing power 778.068
Filing boundary change with county assessor and Department of Revenue 778.070
Tax levy 778.073
Recreational facilities 778.085
Control over port waters and wharf lines 778.090
Rights of riparian owners and owners of moorage facilities 778.095
Eminent domain power 778.100
Reclamation of lands within port limits 778.105
Port required to contract for work and materials 778.110
Personnel 778.115
Improvement contracts with federal government 778.120
Operation of chapter upon rights of other entities within port limits 778.125
Port assistance to other governmental units within port boundaries 778.145
Issuance of revenue bonds 778.150
Ordinance authorizing revenue bonds 778.155
Form and content of bonds 778.160
Borrowing in anticipation of bond sale 778.165
Sale of revenue bonds 778.170
Bonds as obligations of political subdivision 778.175
Effect of ORS 778.145 to 778.175 778.205
Board of commissioners 778.210
Qualifications of members 778.215
Appointment 778.220
Removal 778.225
Meetings 778.230
Board officers 778.235
Causes of vacancies 778.255
Enactment of port ordinances 778.260
Ordinances for regulating use of port properties 778.270
Initiative and referendum procedures 778.990
Penalties
Green check means up to date. Up to date

Current through early 2024

§ 778.020’s source at oregon​.gov