(1) For the purpose of additionally securing the payment of the principal of and interest on general obligation bonds issued under ORS 440.375, a health district may, by resolution of the district board, which resolution shall constitute part of the contract with the holders of such general obligation bonds, pledge all or any part of the net income or revenue of its properties.
(2) The district board may adopt such a resolution without submitting the question of such pledge to electors of the health district. [Formerly 441.350]