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2019 Oregon Revised Statutes
Volume : 06 - Local Government, Public Employees, Elections
Chapter 226 - City Parks, Memorials and Cemeteries
Section 226.360 - Application of proceeds from sale of excess land.
Universal Citation: OR Rev Stat § 226.360 (2019)
The proceeds from resale of any neighboring property taken in excess of what may be necessary for actual construction, opening, widening, extending and laying out of any public square, park or playground as provided in ORS 226.310 to 226.390 shall be deposited in the city treasury and used in payment of interest and as a sinking fund to retire any bond issues authorized under ORS 226.390. Any surplus arising from such transaction shall be turned over to and for the use of the park department of the city.
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