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Code · Oregon · ORS Chapter 383 · Tollways · Financing

383.245 Bond form, issuance and maturity; provisions subject to determination of State Treasurer

132 words·~1 min read·/or/ors-chapter-383/tollways/financing/383-245·

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383.245 Bond form, issuance and maturity; provisions subject to determination of State Treasurer.
(1)A tollway project revenue bond issued under ORS 383.200:
(a)Must contain on its face a statement that the ad valorem taxing power of this state is not pledged to the payment of the principal or the interest on the bond.
(b)Shall be issued as provided in ORS chapter 286A.
(c)Must mature on or before a date determined by calculation of the expected economic life of the improvements, assets and projects financed with the proceeds of the bond.
(2)The State Treasurer shall determine, after consultation with the Department of Transportation, all aspects relating to the sale of bonds under ORS 383.200 that are not otherwise specifically provided in ORS 383.200 to 383.245. [2021 c.630 §152]
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