§ 777.570 — Form of bonds

Oregon § 777.570

• Jurisdiction: Oregon
• Vol.: 19
• Title 58: Shipping and Navigation
• Ch. 777: Ports Generally

Text

Revenue bonds issued under ORS 777.560 (1):
(1) Shall be negotiable instruments.
(2) Shall be issued under ORS chapter 287A, but the requirements of ORS 287A.150 do not apply.
(3) Shall contain a recital that principal and interest on the revenue bonds are payable solely out of revenues and property of the port pledged to the payment thereof by the ordinance of the board authorizing the issue of which the bonds are a part.
(4) May contain covenants of the port to protect and safeguard the security and rights of holders of such bonds and such other terms and conditions, in conformity with ORS 777.560 to 777.590, which the board determines are necessary or desirable to protect the port or increase the marketability of the bonds.

Legislative History

1955 c.423 §4; 1959 c.337 §3; 1965 c.223 §4; 1971 c.728 §141; 1971 c.778 §1; 1981 c.879 §3; 1997 c.171 §24; 2007 c.783 §227