(1) The limitations of sections 11 and 11b of this Article do not apply to bonded indebtedness incurred by local taxing districts if the bonded indebtedness was incurred on or after January 1, 2011, to finance capital costs as defined in subsection (5) of this section.
§ Or. Const. Art. XI, § 11LLimitation on applicability of sections 11 and 11b on bonded indebtedness to finance capital costs
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