ORS 391.570
Bonds

  • form
  • conditions
  • issuance
  • refunding

(1)

Bonds may be issued as serial bonds or as term bonds or a combination of both types. The board may provide that such bonds:

(a)

May be executed and delivered by the Oregon Mass Transportation Financing Authority at any time and from time to time in such amounts including all necessary and incidental expenses, together with all necessary initial bond and interest reserves and applicable interest during the period of acquisition;

(b)

May be in such form and denominations and of such terms and maturities;

(c)

May be in fully registered form or in bearer form registerable either as to principal or interest or both;

(d)

May bear such conversion privileges and be payable in such installments and at such time or times not exceeding 40 years from the date thereof;

(e)

May be payable at such time or times and at such place or places whether within or without the State of Oregon and evidenced in such manner;

(f)

May be made optional for redemption prior to maturity at such price or prices and on such terms and conditions;

(g)

May be executed by the manual or facsimile signatures of such officers of the authority; and

(h)

May contain such other provisions not inconsistent with ORS 267.227 (Relationship with Oregon Mass Transportation Financing Authority) and 391.500 (Declaration of policy) to 391.660 (Short title).

(2)

Any bonds of the authority may be sold for such price and in such manner and from time to time as may be determined by the board. The board shall publish notice of its intent to sell bonds, at least once, at least two days prior to the date of sale, in a newspaper of general circulation in each district which is to receive financial assistance from the proceeds of the bonds. The notice shall state the general purposes for which the bonds are to be sold. Issuance by the authority of one or more series of bonds for one or more purposes shall not preclude it from issuing other bonds in connection with the same mass transit facility or any other mass transit facility or for any other purpose, but the proceedings where any subsequent bonds may be issued shall recognize and protect any prior pledge made for any prior issue of bonds. Refunding bonds may be issued whether the bonds to be refunded are then subject to redemption or are thereafter subject to redemption or maturity, and regardless of the purpose for which the bonds to be refunded were issued by the authority. All such bonds and the interest coupons applicable thereto, if any, are made and shall be construed to be negotiable instruments. [1977 c.662 §9]

Source: Section 391.570 — Bonds; form; conditions; issuance; refunding, https://www.­oregonlegislature.­gov/bills_laws/ors/ors391.­html.

391.090
Legislative findings
391.110
Legislative findings
391.120
Regional Light Rail Extension Construction Fund
391.125
Regional Light Rail Extension Bond Account
391.130
Allocation of lottery moneys to Regional Light Rail Extension Construction Fund
391.140
Revenue bonds for specified light rail project
391.150
Joint management of specified light rail project
391.301
Ratification of compact
391.306
Columbia River Light Rail Transit Compact
391.311
Effect of compact on powers and privileges of mass transit districts in Oregon and Washington
391.500
Declaration of policy
391.510
Definitions for ORS 391.500 to 391.660
391.520
Financing authority created
391.530
Meetings
391.540
Bylaws
391.550
Powers of Mass Transportation Financing Authority
391.560
Lease terms for facility financed by bonds
391.570
Bonds
391.580
Pledges for bonds
391.590
Bonds not general obligation of state
391.600
Tax exempt status of income, property and bond interest
391.605
Limitations on transfer to metropolitan service district
391.610
Expenses of authority
391.620
Limitation on transfer of property rights
391.630
Investments of surplus moneys
391.640
Investment in authority’s bonds authorized
391.650
Severability of ORS 391.500 to 391.660
391.660
Short title
391.800
Elderly and Disabled Special Transportation Fund
391.802
Definition for ORS 391.800 to 391.830
391.810
Distribution of funds to districts, Indian tribes and counties
391.815
Discretionary grant account
391.820
Advisory committees
391.830
Use of funds to finance and improve transportation for elderly individuals and individuals with disabilities
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