Section 777.947 - Limitation on annual issuance and aggregate amount of bonds in absence of elector approval.

OR Rev Stat § 777.947 (2019) (N/A)
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(2) The aggregate outstanding principal amount of general obligation bonds issued by the port without the approval of the electors of the port shall not at any time exceed $1.5 million.

(3) Nothing in this section applies to refunding bonds. [1987 c.565 §15]