Section 450.867 - Election on ordinance adopted under ORS 450.865(1) If the ordinance adopted under ORS 450.865 specifies that all or a part of the cost of construction of the installation is to be financed through the sale of general obligation bonds of the authority to be repaid by annual levies of taxes against property in the area, the board may call an election within the area to be directly benefited by the construction on the question of whether or not the construction and financing plan adopted by the ordinance should be implemented by the board. The date of the election and a brief description of the proposition to be voted upon shall be included in the ordinance adopted under ORS 450.865.(2) If a majority of the electors voting on the question at the election vote against the proposal, there shall be no further proceedings in connection with the proposed construction. However, a modified proposal may be initiated within six months after the date of the election.(3) If a majority of the qualified electors voting at the election approve the proposal, the board may proceed with the construction of the installation in accordance with the ordinance, subject to the right of property owners within the area to remonstrate under ORS 450.865. 1973 c.399 §6; 1975 c.647 §40; 1983 c.350 §273