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2019 Oregon Revised Statutes
Volume : 07 - Public Facilities and Finance
Chapter 285B - Economic Development II
Section 285B.599 - Effect of failure to repay to Water Fund; default.
Universal Citation: OR Rev Stat § 285B.599 (2019)
(1) If a municipality fails to comply with a contract entered into under ORS 285B.581, the Oregon Business Development Department may seek appropriate legal remedies to secure any repayment due the Water Fund. If any municipality defaults on payments due the fund, the State of Oregon may withhold any amounts otherwise due the municipality to apply to the indebtedness. The department may waive the right to withhold moneys under this subsection.
(2) Moneys withheld under subsection (1) of this section shall be deposited in the fund and shall be used to repay any account in the fund from which funds were expended to pay obligations upon which the municipality defaulted. [Formerly 285.968; 2009 c.830 §129]
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