There is a newer version
of
this Section
2019 Oregon Revised Statutes
Volume : 15 - Water Resources, Agriculture and Food
Chapter 547 - Drainage Districts
Section 547.610 - Sale or exchange of bonds; application of proceeds; cancellation of retired obligations; record of transactions.
Universal Citation: OR Rev Stat § 547.610 (2019)
(1) The board of trustees shall sell or exchange the bonds so issued, on the best available terms, for any legal indebtedness of the district. If the sale is made for money, the proceeds shall be applied to the payment of liabilities existing against the district at that time. When the bonds are exchanged for bonds or warrants or other legal evidence of district indebtedness, the district treasurer shall at once cancel the evidence of indebtedness by indorsing thereon the amount for which they were received, the word "canceled" and the date of cancellation.
(2) The district treasurer shall keep a record of all bonds issued, sold or exchanged under subsection (1) of this section by number, date of issuance, date of sale, amount, date of maturity, rate of interest, the name and post-office address of the purchaser, and if exchanged, what evidence of indebtedness was received therefor. This record shall be open at all times for public inspection. [Amended by 1969 c.694 §41; 2001 c.215 §23]
Disclaimer: These codes may not be the most recent version. Oregon may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.
