Oregon Statutes 450.905 – Notice of bond election
Notice of a bond election shall contain:
Terms Used In Oregon Statutes 450.905
- 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.
(1) The information required by ORS § 255.085 (2).
(2) If general obligation bonds, which are to be paid by particular areas in the authority, are to be issued, a statement that the bonds will be the general obligation of the entire authority but will be the primary obligation of the areas in the authority which will be directly benefited by the sewage treatment plants or trunk or lateral sewers or drains constructed with the proceeds of the bonds and paid through assessment, annual levy, or sewer service charges, or combinations thereof, as determined by the board under ORS § 450.855 and designating specifically the boundaries of such area or areas.
(3) If revenue bonds are to be issued, a statement that the bonds will be payable solely out of designated revenues of the authority and will not be a general obligation of the authority or a charge upon the tax revenues of the authority. [1955 c.614 § 43; 1971 c.647 § 99; 1975 c.647 § 41; 1989 c.923 § 20; 2021 c.551 § 28]
[1955 c.614 § 44; repealed by 1971 c.647 § 149]