Oregon § 478.850 Sources of bond payment restricted

Oregon Statutes

§ 478.850 — Sources of bond payment restricted

Oregon § 478.850

Vol.14

Title 38Protection From Fire

Ch. 478Rural Fire Protection Districts

This text of Oregon § 478.850 (Sources of bond payment restricted) 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. § 478.850 (2026).

Text

(1)Revenue bonds issued under ORS 478.845 to 478.875:

(a)Shall not be payable from nor charged upon any fund other than the revenue pledged to the payment of the revenue bonds.

(b)Shall not constitute a charge, lien or encumbrance, legal or equitable, upon any property of the city or district, except those moneys paid to the loan fund created by ORS 478.855.

(2)No holder of such revenue bonds shall ever have the right to compel any exercise of the taxing power of a city or district to pay the bonds or the interest on the bonds, or to enforce payment of the bonds against any property of the city or district except those moneys pledged in the loan fund created under ORS 478.855.

(3)A revenue bond issued under ORS 478.845 to 478.875 shall not constitute a debt of the city or district wit

Free access — add to your briefcase to read the full text and ask questions with AI

(1) Revenue bonds issued under ORS 478.845 to 478.875:
(a) Shall not be payable from nor charged upon any fund other than the revenue pledged to the payment of the revenue bonds.
(b) Shall not constitute a charge, lien or encumbrance, legal or equitable, upon any property of the city or district, except those moneys paid to the loan fund created by ORS 478.855.
(2) No holder of such revenue bonds shall ever have the right to compel any exercise of the taxing power of a city or district to pay the bonds or the interest on the bonds, or to enforce payment of the bonds against any property of the city or district except those moneys pledged in the loan fund created under ORS 478.855.
(3) A revenue bond issued under ORS 478.845 to 478.875 shall not constitute a debt of the city or district within the meaning of any statutory limitation.