Source: http://www.oregonlaws.org/ors/280.060
Timestamp: 2016-02-06 18:33:54
Document Index: 150252003

Matched Legal Cases: ['§ 280', '§2', '§1', '§24', '§79', '§1', '§303', '§6', '§4', '§2']

ORS 280.060 - Levy of local option taxes outside constitutional limitation - 2013 Oregon Revised Statutes
2013 ORS § 280.060¹
Levy of local option taxes outside constitutional limitation
• duration of levy
• approval of levy as approval of bonds
(2) Notwithstanding subsection (1) of this section, a subdivision may certify for extension on the assessment and tax roll under ORS 310.060 (Notice certifying taxes) a lesser amount of local option tax or a lesser rate of local option tax if the subdivision decides to collect less than the entire local option tax authorized by electors. The subdivision shall certify the lesser amount or rate in the written notice required to be made under ORS 310.060 (Notice certifying taxes).
(4)(a) All local option taxes authorized by ORS 280.040 (Definitions for ORS 280.040 to 280.145) to 280.145 (Serial levy under former law) that are for capital projects and that have a term of more than five years shall be submitted to electors separately from local option taxes with a term of five years or less.
(b) For purposes of this subsection, capital project means the acquisition of land upon which to construct an improvement, the acquisition of a building, the acquisition or construction of improvements, the acquisition of an addition to a building which increases the square footage of the building, the construction of a building, the construction of an addition to an existing building which increases the square footage of the building or the acquisition of and installation of machinery and equipment which will become an integral part of a building or an addition to a building, the purchase of furnishings, equipment or other tangible property with an expected useful life of more than one year or a combination of those items.
(5) If a ballot measure authorizing a local option tax states that the taxing district may issue bonds that are payable from that tax, voter approval of the tax shall constitute voter approval of the bonds, except that the approval shall not entitle the taxing district to collect a greater amount of tax than the taxing district would have been entitled to collect if the ballot measure only authorized local option taxes and did not authorize bonds. If the local option tax is approved by voters in a manner that qualifies under section 11 (8), Article XI of the Oregon Constitution, then the taxing body may issue the bonds in a principal amount that, together with the estimated interest to be paid on the bonds while the bonds are outstanding, does not exceed the revenues estimated to be received from the local option tax levy. A taxing district may pledge the revenues received from the local option tax and the taxing districts full faith and credit to pay bonds authorized under this subsection. [Amended by 1953 c.134 §2; 1977 c.730 §1; 1979 c.241 §24; 1981 c.804 §79; 1989 c.658 §1; 1997 c.541 §303; 1999 c.21 §6; 1999 c.559 §4; 1999 c.1094 §2]
1 Legislative Counsel Committee, CHAPTER 280—Financing of Local Public Projects and Improvements; City and County Economic Development, https://­www.­oregonlegislature.­gov/­bills_laws/­lawsstatutes/­2013ors280.­html (2013) (last ac­cessed Apr. 27, 2014).
2 Legislative Counsel Committee, Annotations to the Oregon Revised Stat­utes, Cumulative Supplement - 2013, Chapter 280, https://­www.­oregonlegislature.­gov/­bills_laws/­lawsstatutes/­2013ano280.­html (2013) (last ac­cessed Apr. 27, 2014).