Oregon Statutes - Chapter 381 - Interstate Bridges - Section 381.239 - Revenue bonds and refunding revenue bonds are negotiable instruments; not deemed general obligations of issuer.

All revenue bonds and refunding revenue bonds issued under ORS 381.205 to 381.305 shall be negotiable instruments under the law merchant, notwithstanding they shall be payable solely from the revenues pledged for that purpose. None of such bonds shall be deemed a charge upon the tax or other revenues of the issuing entity. [1951 c.648 §4]

Section:  Previous  381.215  381.220  381.225  381.227  381.230  381.235  381.237  381.239  381.240  381.245  381.250  381.255  381.260  381.265  381.270  Next

Last modified: August 7, 2008