The Department of Transportation may not issue or sell general obligation bonds under ORS § 367.700 to 367.750 that, singly or in the aggregate with previous debts or liabilities incurred for the building and maintaining of permanent roads, exceed any limitation provided in the Oregon Constitution at the date of the issuance and sale of such bonds. [1975 c.211 § 11; 2003 c.201 § 35]

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Terms Used In Oregon Statutes 367.750

  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • 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.

 

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