(2) The aggregate amount of general obligation bonds issued and outstanding at any one time may not exceed two and one-half percent of the real market value of all taxable property of the district, computed in accordance with ORS 308.207.
(3) General obligation bonds must recite that they are issued under ORS 568.210 to 568.808.
(4) A soil and water conservation district:
(a) Shall issue general obligation bonds authorized under this section as provided in ORS chapter 287A; and
(b) May issue refunding bonds as provided in ORS chapter 287A.
(5) Taxes that are levied by a soil and water conservation district to pay principal, interest and premium, if any, on general obligation bonds issued pursuant to this section are separate from and in addition to taxes levied pursuant to ORS 568.806. [2005 c.282 §3; 2007 c.783 §222]