Article XI-I(2) of the Oregon State Constitution

In this post, we take a look at Article XI-I(2) of the Oregon State Constitution which is entitled "Multifamily housing for elderly and disabled".  In this Article, it provides for borrowing in order to have a fund to assist with construction of housing for elderly and disabled persons.  The Article has 4 sections.

Section 1

This section describes the purpose of assisting with financing of multifamily housing for the elderly and for disabled persons.  It leaves it to the legislature whether to provide this money to a person or corporation as a loan or in some form of grant and to define a lot of other parameters.

Section 2

This section provides for ad valorem property taxes to be levied in order to pay back the borrowings if necessary.

Section 3

This section directs that the borrowings are made as bonds and these bonds can be rolled over.

Section 4

This section has a catchall such that for any conflict between this Article and other sections of the constitution, this section prevails.