§ Or. Const. Art. XI-G, § 1State empowered to lend credit for financing higher education institutions and activities, and community colleges

(1) Notwithstanding the limitations contained in section 7, Article XI of this Constitution, and in addition to other exceptions from the limitations of such section, the credit of the state may be loaned and indebtedness incurred in an amount not to exceed at any time three-fourths of one percent of the true cash value of all taxable property in the state, as determined by law.