Oregon § 391.605 Limitations on transfer to metropolitan service district

Oregon Statutes

§ 391.605 — Limitations on transfer to metropolitan service district

Oregon § 391.605

Vol.10

Title 31Highways, Roads, Bridges and Ferries

Ch. 391Mass Transportation

This text of Oregon § 391.605 (Limitations on transfer to metropolitan service district) 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. § 391.605 (2026).

Text

(1)No transfer authorized by ORS 267.020 of a mass transit district system to a metropolitan service district shall take effect while bonds issued by the Oregon Mass Transportation Financing Authority to finance mass transit facilities for the district are outstanding until a plan designed to repay any outstanding bonds when due is prepared by the governing body of the metropolitan service district and approved by:

(a)The chairperson of the Oregon Transportation Commission or the chairperson’s designee;

(b)The State Treasurer or State Treasurer’s designee; and

(c)The chairperson of the Oregon Investment Council or the chairperson’s designee.

(2)Persons given authority to approve a transfer under subsection (1) of this section may only refuse to approve a transfer for reasons relating

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(1) No transfer authorized by ORS 267.020 of a mass transit district system to a metropolitan service district shall take effect while bonds issued by the Oregon Mass Transportation Financing Authority to finance mass transit facilities for the district are outstanding until a plan designed to repay any outstanding bonds when due is prepared by the governing body of the metropolitan service district and approved by:
(a) The chairperson of the Oregon Transportation Commission or the chairperson’s designee;
(b) The State Treasurer or State Treasurer’s designee; and
(c) The chairperson of the Oregon Investment Council or the chairperson’s designee.
(2) Persons given authority to approve a transfer under subsection (1) of this section may only refuse to approve a transfer for reasons relating to the financial effect of the transfer.