(1) For the purpose of carrying into effect the powers granted by ORS 401.818 to 401.857, as well as refunding outstanding obligations, a 9-1-1 communications district, when authorized by a majority of the votes cast at an election by electors of the district, may borrow money and sell and dispose of general obligation bonds.
(2) The general obligations outstanding at any one time shall never exceed in aggregate principal amount one percent of the real market value of all taxable property within the district computed in accordance with ORS 308.207.
(3) The bonds shall mature serially not more than 30 years from the issue date and shall be issued as prescribed in ORS chapter 287A. [1995 c.333 §36; 2007 c.783 §180]
Note: See note under 401.818.
Section: Previous 401.836 401.837 401.838 401.839 401.840 401.841 401.842 401.844 401.845 401.847 401.850 401.852 401.855 401.857 401.860 NextLast modified: August 7, 2008