There is a newer version of the Oregon Revised Statutes
2013 Oregon Revised Statutes
Volume : 13 - Water Resources, Agriculture and Food
Chapter 545 - Irrigation Districts
Section 545.307 - Investment of surplus funds in federal or state bonds.
OR Rev Stat § 545.307 (2013) What's This?
When there are surplus funds not necessary for the payment of current obligations of the district in any construction fund, operation and maintenance fund, sinking fund, United States Contract Fund, State of Oregon Contract Fund, emergency fund or any other fund of the district, the board of directors of an irrigation district may invest the surplus funds in bonds of the United States or the State of Oregon. The district may hold and dispose of the bonds at such times as may be necessary to the conduct of the business and affairs of the district. [Formerly 545.224]
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