There is a newer version of the Oregon Revised Statutes
2013 Oregon Revised Statutes
Volume : 11 - Public Health, Housing, Environment
Chapter 450 - Sanitary Districts and Authorities; Water Authorities
Section 450.115 - Use of proceeds of bond sale.
OR Rev Stat § 450.115 (2013) What's This?
The proceeds of the sale of bonds shall be paid to the district. The proceeds shall be used for the purpose indicated in the order calling for election upon the question of the issuance of the bonds, and for no other purpose. However, if those purposes are entirely fulfilled, any remaining proceeds shall be used for payment of the principal and interest of the bonds. [Amended by 2001 c.373 §4]
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