The total amount of general obligation bonds issued by the Port of Portland in any calendar year, except for refunding bonds or bonds issued to provide funds to meet obligations assumed pursuant to ORS 778.020, shall not exceed $3 million unless a greater amount is approved by the electors of the port at an election at which such question is submitted.
ORS 778.045
Amended by 1971 c.728 §110; 1973 c.178 §7; 1997 c.461 §3
Official source: Oregon State Legislature. Reproduced from public-domain Oregon statutes; confirm against the official source for the current text. Not legal advice.