OREGON CONSTITUTION
ARTICLE XI-Q
REAL OR PERSONAL PROPERTY OWNED OR OPERATED BY STATE
Art. XI-Q §0 | NOTE ON ARTICLE 11-Q
Art. XI-Q §1 | STATE EMPOWERED TO LEND CREDIT FOR REAL OR PERSONAL PROPERTY TO BE OWNED OR OPERATED BY STATE; REFINANCING AUTHORITY
(b) Infrastructure related to the real or personal property; or
(c) Indebtedness incurred under this subsection.
(b) Borrowings issued before the effective date of this Article to finance or refinance costs described in subsection (1) of this section.
Notes
Art. XI-Q §2 | LIMIT ON INDEBTEDNESS; GENERAL OBLIGATION OF STATE
(2) Indebtedness incurred under section 1 of this Article is a general obligation of the State of Oregon and must contain a direct promise on behalf of the State of Oregon to pay the principal, premium, if any, and interest on the obligation. The full faith and credit and taxing power of the State of Oregon must be pledged to payment of the indebtedness. However, the State of Oregon may not pledge or levy an ad valorem tax to pay the indebtedness.
Art. XI-Q §3 | LEGISLATION TO EFFECTUATE ARTICLE
Art. XI-Q §4 | RELATIONSHIP TO CONFLICTING PROVISIONS OF CONSTITUTION
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