Oregon § 555.528 Authority to issue general obligation bonds

Oregon Statutes

§ 555.528 — Authority to issue general obligation bonds

Oregon § 555.528

Vol.15

Title 45Water Resources; Irrigation, Drainage, Flood Control, Reclamation

Ch. 555Reclamation Projects; Sand Control

This text of Oregon § 555.528 (Authority to issue general obligation 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. § 555.528 (2026).

Text

(1)Upon approval of the electors of a sand control district, the district may issue general obligation bonds, as prescribed in ORS 287A.300 to 287A.380, from time to time to finance purposes and duties of the district.

(2)The district may not issue, or have outstanding at any time, general obligation bonds in a principal amount that exceeds:

(a)Five percent of the real market value of the taxable property in the district, calculated as provided in ORS 308.207, if the district has a population of less than 100 individuals within its boundaries; or

(b)10 percent of the real market value of the taxable property in the district, calculated as provided in ORS 308.207, if the district has a population of 100 or more individuals within its boundaries.

(3)Bonds issued under this section must

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(1) Upon approval of the electors of a sand control district, the district may issue general obligation bonds, as prescribed in ORS 287A.300 to 287A.380, from time to time to finance purposes and duties of the district.
(2) The district may not issue, or have outstanding at any time, general obligation bonds in a principal amount that exceeds:
(a) Five percent of the real market value of the taxable property in the district, calculated as provided in ORS 308.207, if the district has a population of less than 100 individuals within its boundaries; or
(b) 10 percent of the real market value of the taxable property in the district, calculated as provided in ORS 308.207, if the district has a population of 100 or more individuals within its boundaries.
(3) Bonds issued under this section must mature within 30 years from the date of issuance.