ORS 759.315 does not apply to the issuance, renewal or assumption of liability on any evidence of indebtedness when such issuance, renewal or assumption is for the purpose of acquiring specific real or personal property, if the aggregate principal amount thereof, together with all other then outstanding evidences of indebtedness issued, renewed or assumed under this section, does not exceed whichever is the greater of the following amounts:
(1) The amount of $75,000.
(2) The amount of one-half of one percent of the sum of:
(a) The total principal amount of all bonds or other securities representing secured indebtedness of the telecommunications utility issued or assumed and then outstanding; and
(b) The capital and surplus as then stated on the books of account of the telecommunications utility. [1987 c.447 §32]
Section: Previous 759.280 759.285 759.290 759.300 759.305 759.310 759.315 759.320 759.325 759.330 759.335 759.340 759.345 759.350 759.355 NextLast modified: August 7, 2008