Oregon Statutes 777.773 – Status of obligations of export trading corporation; prohibited investments
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(1) An obligation of an export trading corporation, whether arising from the sale of revenue bonds or otherwise, shall not in any manner be a general obligation of the port, nor a charge upon any revenues or property of the port.
Terms Used In Oregon Statutes 777.773
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- 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) An export trading corporation shall not acquire stock or other equity interest in any private corporation organized for profit. [1983 c.200 § 12]