Oregon Statutes - Chapter 287A - Local Government Borrowing - Section 287A.100 - Authority of county to issue general obligation bonds.

(1) Unless the county charter expressly provides otherwise, a county may issue general obligation bonds to finance capital construction or capital improvements upon approval of the electors of the county.

(2) Unless the county charter provides a lesser limitation, a county may not issue or have outstanding at the time of issuance general obligation bonds in a principal amount that exceeds two percent of the real market value of the taxable property in the county, calculated as provided in ORS 308.207. [2007 c.783 §44]

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Last modified: August 7, 2008