PORTLAND, Ore. - As the saga of the Made in Oregon sign continues here in Portland, the city now has a plan they hope will keep the famous landmark out of the hands of the University of Oregon.

Their idea?  Condemn the famous sign, declare eminent domain and pay the company that owns it $500,000 to take ownership of it.

The 69-year-old sign, which used to read 'White Satin,' then 'White Stag' and then 12 years ago was changed to 'Made in Oregon,' has become quite a bone of contention lately after the University of Oregon announced it wanted to change the sign to read 'University of Oregon.'

The university owns the building that the sign sits on and while it might sound like a logical move, anyone who lives in Portland knows it's not that simple. You see, the sign represents a lot of things to a lot of different people in the Rose City and talk of changing it tends to rile folks up. 

Not only that, city leaders are concerned that any business that bought the building could make the sign say anything and they worry that someone might get carried away. Just imagine the possibilities.  The sign could say 'Go By Bike' or 'KATU News' or 'Sam Adams.'  City Commissioner Randy Leonard has an even more worrisome possibility.

"If you had a pornography store by the building underneath it, they could advertise on that sign and say whatever they want on that sign," he said.

Leonard said the University of Oregon's president insists on changing the sign and won't budge.  And he was quick to respond when we asked the obvious question - "doesn't he have that right?"

"Let's talk about rights," Leonard said.  "He has the right to do that and we have the right to acquire it through eminent domain."

So where would the $500,000 come from?  Leonard said he is not entirely sure but is certain that someone or some organization will come forward with the money to pay for the sign and it won't come out of the general fund.

Now this isn't exactly a done deal yet - city leaders still have to vote on it.  However, at this point, it looks like there are enough commissioners on board with the idea to vote yes.