(1) The Willamette Falls Locks Authority may from time to time issue and sell revenue bonds in accordance with ORS Chapter 287A, except that ORS § 287A.150 (2) to (6) do not apply to revenue bonds issued by the authority. Revenue bonds issued by the authority are not to any extent a general obligation of the authority nor a charge upon any revenues or property of the authority not specifically pledged as security for the revenue bonds. An obligation described in this section is not an indebtedness of the State of Oregon.

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Terms Used In Oregon Statutes 196.230

  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.

(2) Revenue bonds issued by the authority pursuant to ORS Chapter 287A shall be considered to be bonds of a political subdivision of the State of Oregon for the purposes of all laws of the state.

(3) The authority may, pursuant to ORS § 287A.360 to 287A.380, issue refunding bonds of the same character and tenor as the revenue bonds replaced by the refunding bonds. [2021 c.229 § 8]

 

See note under 196.200.

 

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