Oregon § 456.180 Liability on bonds; debt limitation

Oregon Statutes

§ 456.180 — Liability on bonds; debt limitation

Oregon § 456.180

Vol.13

Title 36AHousing; Lottery and Games; Environment

Ch. 456Housing

This text of Oregon § 456.180 (Liability on bonds; debt limitation) 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. § 456.180 (2026).

Text

(1)Neither the commissioners of an authority nor any person executing the bonds shall be liable personally on the bonds by reason of the issuance thereof.

(2)The bonds and other obligations of an authority shall not be a debt of the city, the county, the state or any political subdivision thereof, and the bonds and obligations shall so state on their face. Neither the city, the county, nor the state or any political subdivision thereof shall be liable thereon. Nor, in any event, shall such bonds or obligations be payable out of any funds or properties other than those of the authority.

(3)The bonds shall not constitute an indebtedness within the meaning of any constitutional or statutory debt limitation or restriction.

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(1) Neither the commissioners of an authority nor any person executing the bonds shall be liable personally on the bonds by reason of the issuance thereof.
(2) The bonds and other obligations of an authority shall not be a debt of the city, the county, the state or any political subdivision thereof, and the bonds and obligations shall so state on their face. Neither the city, the county, nor the state or any political subdivision thereof shall be liable thereon. Nor, in any event, shall such bonds or obligations be payable out of any funds or properties other than those of the authority.
(3) The bonds shall not constitute an indebtedness within the meaning of any constitutional or statutory debt limitation or restriction.