Oregon Const. art. XI-F(1), § 2

Oregon Constitution

Article XI-F(1), § 2 — Limitation on authorization to incur indebtedness

Oregon Const. art. XI-F(1), § 2 (Limitation on authorization to incur indebtedness) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

JurisdictionOregon DocumentConstitution

ArticleXI-F(1)

Section§ 2

CitationOregon Const. art. XI-F(1), § 2

Bluebook

Or. Const. art. XI-F(1), § 2.

Full Text

Indebtedness shall not be incurred to finance projects described in section 1 of this Article unless the constructing authority conservatively estimates that the constructing authority will have sufficient revenues to pay the indebtedness and operate the projects financed with the proceeds of the indebtedness. For purposes of this section, "revenues" includes all funds available to the constructing authority except amounts appropriated by the legislative assembly from the General Fund.

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Indebtedness shall not be incurred to finance projects described in section 1 of this Article unless the constructing authority conservatively estimates that the constructing authority will have sufficient revenues to pay the indebtedness and operate the projects financed with the proceeds of the indebtedness. For purposes of this section, "revenues" includes all funds available to the constructing authority except amounts appropriated by the legislative assembly from the General Fund.

History

Created through H.J.R. 26, 1949, and adopted by the people Nov. 7, 1950; Amendment proposed by H.J.R. 101, 2010, and adopted by the people May 18, 2010