Oregon § 285B.479 Nature of revenue bonds

Oregon Statutes

§ 285B.479 — Nature of revenue bonds

Oregon § 285B.479

Vol.7

Title 26AEconomic Development

Ch. 285BEconomic Development II

This text of Oregon § 285B.479 (Nature of revenue bonds) is published on Counsel Stack Legal Research, covering Oregon primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Or. Rev. Stat. § 285B.479 (2026).

Text

(1)Revenue bonds issued under ORS 285B.467 to 285B.479:

(a)May not be payable from nor charged upon any funds other than the revenue pledged to the payment thereof, except as provided in this section, nor shall the state be subject to any liability thereon. No holder or holders of such bonds shall ever have the right to compel any exercise of the taxing power of the state to pay any such bonds or the interest thereon, nor to enforce payment thereof against any property of the state except those moneys pledged therefor in the Special Public Works Fund, under the provisions of ORS 285B.467 to 285B.479.

(b)May not constitute a charge, lien or encumbrance, legal or equitable, upon any property of the state, except those moneys paid to the Special Public Works Fund.

(2)A revenue bond issued

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(1) Revenue bonds issued under ORS 285B.467 to 285B.479:
(a) May not be payable from nor charged upon any funds other than the revenue pledged to the payment thereof, except as provided in this section, nor shall the state be subject to any liability thereon. No holder or holders of such bonds shall ever have the right to compel any exercise of the taxing power of the state to pay any such bonds or the interest thereon, nor to enforce payment thereof against any property of the state except those moneys pledged therefor in the Special Public Works Fund, under the provisions of ORS 285B.467 to 285B.479.
(b) May not constitute a charge, lien or encumbrance, legal or equitable, upon any property of the state, except those moneys paid to the Special Public Works Fund.
(2) A revenue bond issued under ORS 285B.467 to 285B.479 does not constitute a debt of the State of Oregon or a lending of the credit of this state within the meaning of any constitutional or statutory limitation.