Oregon § 367.181 Limits on obligation of grant anticipation revenue bonds

Oregon Statutes

§ 367.181 — Limits on obligation of grant anticipation revenue bonds

Oregon § 367.181

Vol.10

Title 31Highways, Roads, Bridges and Ferries

Ch. 367Transportation Financing; Projects

This text of Oregon § 367.181 (Limits on obligation of grant anticipation 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. § 367.181 (2026).

Text

(1)Grant anticipation revenue bonds issued under ORS 367.161 to 367.181 are not general obligations of the State of Oregon or of an agency, department, board, commission, officer or employee of the State of Oregon.

(2)The revenue bonds are a limited obligation payable solely from federal transportation funds received by the Department of Transportation and, if provided by the department when issuance of the revenue bonds is authorized, other moneys lawfully available for the purpose and affirmatively pledged to the payment of principal, interest, premium, if any, and purchase or tender price of the revenue bonds.

(3)A holder of revenue bonds issued under ORS 367.161 to 367.181 may not compel the payment of federal transportation funds to the Department of Transportation.

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(1) Grant anticipation revenue bonds issued under ORS 367.161 to 367.181 are not general obligations of the State of Oregon or of an agency, department, board, commission, officer or employee of the State of Oregon.
(2) The revenue bonds are a limited obligation payable solely from federal transportation funds received by the Department of Transportation and, if provided by the department when issuance of the revenue bonds is authorized, other moneys lawfully available for the purpose and affirmatively pledged to the payment of principal, interest, premium, if any, and purchase or tender price of the revenue bonds.
(3) A holder of revenue bonds issued under ORS 367.161 to 367.181 may not compel the payment of federal transportation funds to the Department of Transportation.