ORS 778.040
General obligation bond issues to be approved by electors

(1)

General obligation bonds shall not be issued by the Port of Portland to provide funds for the establishment or operation of surface ship and air lines or for the payment of bonuses to either such line or lines without the approval of the electors of the port expressed at an election called and held within the port at which such question is submitted.

(2)

Whenever the port issues general obligation bonds for purposes other than refunding general obligation bonds previously issued and for purposes other than providing funds to meet the obligations of the City of Portland assumed pursuant to ORS 778.020 (Acquisition of City of Portland property by port) in an aggregate amount equal to five percent of the present real market value of all the taxable property within the territorial limits of the port, no additional general obligation bonds shall be issued for purposes other than refunding general obligation bonds theretofore issued without the approval of the electors of the port expressed at an election within the port at which such question is submitted. [Amended by 1971 c.399 §1; 1997 c.461 §2]

Source: Section 778.040 — General obligation bond issues to be approved by electors, 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

§ 778.040’s source at oregon​.gov