within the port at which such question is submitted. [Amended by 1971 c.728 §105]
778.025 Power to engage in certain commercial activities. For the use of the port or for public convenience and the convenience of air transport, shipping, commercial and industrial development of the port and the waterfront of its harbors, rivers and waterways, the port may:
(1) Acquire by purchase, condemnation or other lawful method lands necessary for its use or to be improved for public convenience and the convenience of the air transport, shipping, commercial and industrial development of the port as well as all or any part of the waterfront of its harbors, rivers and waterways.
(2) Acquire by purchase, condemnation or other lawful method lands necessary or convenient for the purpose of depositing or dumping thereon earth, sand, gravel, rock or other material dredged or excavated, in the exercise of any of its powers, from any of the rivers or other waterways or lands within the boundaries or under the control of the port.
(3) Enlarge its tidal area, fill and reclaim lands, and make such disposition by use, conveyance, development or lease of lands so filled or reclaimed as it considers advisable.
(4) Construct, excavate and dredge canals and channels connecting its waterways with one another, with other waterways and with the sea.
(5) Purchase or otherwise acquire, construct, operate, maintain, lease, rent and dispose of airports, and their approaches, wharves, piers, docks, slips, warehouses, elevators, dry docks, terminals, buildings, and all other facilities and aids incident to the development, protection and operation of the port and of the air transport, shipping, commercial and industrial interests of the port, within the port, and collect, wharfage, storage and other charges for the use of such facilities.
(6) Own, acquire, construct, purchase, lease, operate and maintain within the port lines of railroad, with sidetracks, turnouts, switches and connections with other lines of and streets, roads, water mains, sewers, pipelines, and also gas and electric conduits and lines which a utility is unwilling or unable to furnish, within or to or from the boundaries of the port; and carry and transport freight and passengers thereon and thereover for hire, and perform lighterage for hire.
(7) Acquire, own, lease, rent, operate, maintain and dispose of towboats, barges and other vessels for the transportation of cargo or passengers in maritime commerce on the Columbia and Snake Rivers and their tributaries, within or without the boundaries of this state.
(8) Acquire, own, lease, rent, operate, maintain and dispose of unit trains and related facilities for the transportation of bulk commodities to facilities within the port from locations within or without t e port. [Amended by 1959 c.362 §2; 1967 c.548 §1; 1971 c.728 §106; 1973 c.178 §6; 1981 c.879 §4]
778.030 Power to issue general obligation bonds; 'imitation; dedication of revenues; use of proceeds. (1) For the purpose of carrying into effect any of the powers granted to the port, the port has the power to borrow money and to sell and dispose of bonds which shall constitute a general obligation of the port and be secured by the port's full faith and credit. Such bonds outstanding at one time shall never exceed in the aggregate one and three-fourths percent of the real market value of all taxable property within the limits of the port, computed in accordance with ORS 308.207. In computing the total of bonds at any time outstanding, bonds issued for the purpose of providing funds to meet obligations assumed pursuant to ORS 778.020, shall not be included. The bonds shall be secured by the taxing power of the port as provided in ORS 778.065 (1). In addition, the port may provide that the bonds shall be payable from and secured by a lien and pledge of all or any part of the revenues derived by the port from the facilities constructed from the proceeds of the bonds.
(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]
778.035 [Amended by 1971 c.728 §108; repealed by 1977 c.33 §2 (778.036 enacted in lieu of 778.035)]
778.036 Issuance of bonds; form; redemption. Bonds authorized by ORS 778.030:
