There is a newer version of the Oregon Revised Statutes
2015 Oregon Revised Statutes
Volume : 06 - Local Government, Public Employees, Elections
Chapter 225 - Municipal Utilities
Section 225.370 - Terms of bonds.
OR Rev Stat § 225.370 (2015) What's This?
The city governing body may determine the maturities and tenor of bonds issued under ORS 225.360. However, the bonds shall be serial in character and in accordance with any provisions of law or charter. The bonds shall:
(1) Be payable in not to exceed 30 years from the date of issuance thereof.
(2) Be sold at a price to net the city not less than the par value thereof with accrued interest.
(3) Bear interest at not to exceed six percent per annum.
[Amended by 2005 c.22 §170]
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