(1) Oregon Community Power may issue and sell revenue bonds in accordance with the provisions of the Uniform Revenue Bond Act under ORS 288.805 to 288.945. However, ORS 288.815 does not apply to revenue bonds issued by Oregon Community Power. Revenue bonds issued by Oregon Community Power may not be a general obligation of Oregon Community Power and may not be a charge upon any revenues or property of Oregon Community Power that is not specifically pledged thereto. Any obligation of any kind incurred by Oregon Community Power under ORS 288.805 to 288.945 is not, and may not be considered, an indebtedness of the State of Oregon.
(2) Revenue bonds or other financing agreements issued by Oregon Community Power pursuant to ORS 288.805 to 288.945 shall be considered to be bonds or obligations of a political subdivision of the State of Oregon for the purposes of all laws of this state. [2007 c.807 §39]
Note: See note under 757.812.
Note: 288.805 to 288.945 (the Uniform Revenue Bond Act) and 288.815 were repealed by section 234, chapter 783, Oregon Laws 2007. The text of 757.950 was not amended by enactment of the Legislative Assembly to reflect the repeal. Editorial adjustment of 757.950 for the repeal of 288.805 to 288.945 and 288.815 has not been made.
(City Rights of Way)
Section: Previous 757.922 757.924 757.930 757.935 757.937 757.940 757.942 757.945 757.950 757.954 757.990 757.991 757.992 757.993 757.994 NextLast modified: August 7, 2008