Oregon Law
Law as of Jan 1, 2026
Chapter contents
550.005[Formerly part of 550.010; repealed by 1969 c.50 §1] 550.010[Amended by 1957 c.636 §1; part renumbered 550.005; repealed by 1969 c.50 §1] 550.020[Repealed by 1969 c.50 §1] 550.030[Repealed by 1969 c.50 §1] 550.040[Amended by 1957 c.636 §2; repealed by 1969 c.50 §1] 550.050[Amended by 1957 c.636 §3; repealed by 1969 c.50 §1] 550.060[Amended by 1957 c.636 §4; repealed by 1969 c.50 §1] 550.070[Amended by 1957 c.636 §5; repealed by 1969 c.50 §1] 550.080[Amended by 1957 c.636 §6; repealed by 1969 c.50 §1] 550.090[Repealed by 1969 c.50 §1] 550.100[Repealed by 1969 c.50 §1] 550.110[Repealed by 1969 c.50 §1] 550.120[Repealed by 1969 c.50 §1] 550.130[Repealed by 1969 c.50 §1] 550.140[Amended by 1957 c.636 §7; repealed by 1969 c.50 §1] 550.150Purpose of ORS 550.150 to 550.410 550.160Definitions 550.170Urban flood safety and water quality district; boundaries; vested water rights unimpaired 550.180District electors and landowners authorized to contest validity of board proceeding, action, order, contract, decision or enactment 550.190Initial district board 550.195Board of directors 550.196Terms of first directors 550.200Organizational meeting of board of directors; oath; officers; meetings; quorum 550.210Duties of board of directors 550.220Stakeholder advisory committees 550.230General powers of district 550.240Eminent domain 550.250District activities as urban services 550.260Plan for watershed and habitat improvement and landscape resilience; decennial review 550.270Construction of district works 550.280District contracts subject to Public Contracting Code 550.290Construction on public land or right of way or along public watercourse 550.300Financing construction, operation or maintenance of district works; local option taxes prohibited 550.310Assessments against benefited lands for district works; apportionment; hearing; works bonds 550.312Annual charge payable by benefited lands for district works; apportionment; assessment and collection 550.314Fee on cities and counties for district operations and works; amount based on population; indexing; local charge to pay fee 550.320Ad valorem property taxes; Local Budget Law applicable 550.330Service and user charges for district works; collection agreements; revenue bonds 550.340General obligation bonds 550.350Loan agreements with state and federal agencies; enforcement by order of circuit court; filing of loan certificate 550.360Dissolution of drainage or water control district or corporation; transfer of assets and liabilities to district; debt distribution plan; zone committee for continuity 550.362Continuity of initial district board membership following dissolution of district or corporation under ORS 550.360 550.370Notice requirements 550.380Election laws applicable 550.390Waterway pollution; penalty 550.400Civil liability for remediation costs 550.410Additional cause of action for certain impairments of district works

Chapter 550 — Urban Flood Safety and Water Quality District

ORS 550.340 General obligation bonds

(1)(a)

Upon approval of the electors of the urban flood safety and water quality district, the district may issue general obligation bonds. The district may not issue or have outstanding at the time of issuance general obligation bonds in a principal amount that exceeds two percent of the real market value of all taxable property in the district, calculated as provided under ORS 308.207.

(b)

Bonds issued under this section may be issued solely for the purpose of financing:

(A)

Capital construction or capital improvements within the meaning of Article XI, section 11, of the Oregon Constitution;

(B)

Capital construction or improvements within the meaning of Article XI, section 11b, of the Oregon Constitution; or

(C)

Capital costs within the meaning of Article XI, section 11L, of the Oregon Constitution.

(2)

All general obligation bonds, including refunding bonds, issued under this section shall be issued as prescribed in ORS chapter 287A.

Official sources · 2Tap to view provenance and version history

Online copy of the published ORS edition

Provenance

Version history

Earlier statutory text is available in an ingested published ORS edition.