The provisions of ORS § 223.205 to 223.316 (Bancroft Bonding Act) and ORS § 223.770 relating to the assessment of property benefited by public improvements and to the issuance of bonds and other obligations for the cost of such improvements, shall apply insofar as practicable and applicable in relation to the assessment by ports of the cost or any portion of the cost of improvements against the property benefited in accordance with ORS § 777.530 and to the issuance of bonds and other obligations by the port. However, notwithstanding ORS § 223.295, the limitation specified in ORS § 777.410 (1)(a) on the amount of general obligation bonds outstanding at any one time applies to bonds and other obligations issued under this section. [1989 c.644 § 3; 1991 c.902 § 116; 1995 c.333 § 21; 1997 c.249 § 223]

Ask a legal question, get an answer ASAP!
Click here to chat with a lawyer about your rights.

Terms Used In Oregon Statutes 777.535

  • 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.

 

See note under 777.530.