(2) Notwithstanding subsection (1) of this section:
(a) A municipality shall determine the extent to which community forestlands acquired or financed by an authority and located within the boundaries of the municipality are subject to property taxation.
(b) Real and personal property owned by the authority and leased to a third party is subject to property taxation if the property would be subject to taxation if owned by the lessee of the property.
(c) A district, as defined in ORS 198.010 or 198.180, may elect to continue imposing taxes on property within the district that is acquired or financed by an authority and is otherwise exempt from property taxation under this section without regard to the determination of a municipality under paragraph (a) of this subsection.
(3) Revenue bonds issued by an authority are deemed to be securities issued by a political subdivision of the State of Oregon. [2005 c.500 §13]
Note: See note under 530.600.