ORS 545.565: Refunding bonds; procedure.
Edition: 2025 EditionEffective: 2026-01-01Last verified: 2026-09-07
Any irrigation district desiring to refund its outstanding indebtedness or issue bonds for any purpose may use the procedure provided by ORS 545.565 to 545.621 instead of other procedures provided by law. Before any decision is made to issue bonds under those sections the board of directors shall enter a resolution stating the purpose for which the bonds are to be issued and, if the bonds are to be used for refunding indebtedness, describing the bonds and indebtedness to be retired by the refunding bonds or from the proceeds of the sale of the refunding bonds. [Formerly 545.242]
This rule cites
- ORS 545.565 — resolved
- 545.621 — resolved
Cited by
- ORS 545.567: Determination of liability for assessment to pay bonds; determination on basis of irrigable area or benefits accrued.
- ORS 545.585: Bonds; issuance; purposes; form; amortization; maturities; negotiability; numbering; interest; denomination; registration; amount maturing annually; retirement.
- ORS 545.599: Five-year additional assessment; emergency assessments; emergency fund.
- ORS 545.603: Entry on assessment roll; lien on land; collection; disposal of moneys collected; liability of land sold for taxes; exception.
- ORS 545.607: Retirement of bonds before maturity.
- ORS 545.617: Sale of land for delinquent assessments; district as purchaser; payment of proceeds into emergency fund; purchase price paid by district.
- ORS 545.621: Exchange of refunding bonds for outstanding indebtedness; exchange of interest certificates for bonds.
- ORS 545.629: Declaration of intent to dispose of bonds; resolution; notice of sale; publication.
- ORS 545.631: Consent of creditors to refunding of indebtedness.
- ORS 545.635: Notice of court proceeding to obtain constructive consent; effect of failure to file objection.
Official source: https://www.oregonlegislature.gov/bills_laws/ors/ors545.html