2021 Oregon Revised Statutes
Chapter 778 - Port of Portland
Section 778.030 - Power to issue general obligation bonds; limitation; dedication of revenues; use of proceeds.

(2) The port may provide for the creation of special trust funds and may authorize the appointment of a trustee to administer the same and may obligate itself to set aside and pay into a special trust fund any revenues pledged to the payment of the bonds. The port may establish and provide from available funds for the funding of debt service, operation and maintenance reserves.
(3) Proceeds from the sale of the bonds may also be used to pay the costs incurred in issuing the bonds, preliminary work incident to carrying out such powers, including but not limited to planning, engineering, inspection, accounting, fiscal, legal and trustee expenses and other similar expenses, and to pay interest on the bonds for such period as the port may determine, but not to exceed six months beyond completion of the facilities financed with the bonds, and to establish reserves for debt service on the bonds. [Amended by 1963 c.9 §39; 1971 c.702 §1; 1971 c.728 §107a; 1977 c.33 §1; 1991 c.459 §443]

Structure 2021 Oregon Revised Statutes