There is a newer version of the Oregon Revised Statutes
2011 Oregon Revised Statutes
ORS Volume 11, Chapters 431 - 470
ORS Chapter 450
450.115 Use of proceeds of bond sale.
OR Rev Stat § 450.115 (through Leg Sess 2011) 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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