2011 ORS § 266.580¹
Payment of bond principal and interest
  • payment of collection commission

(1) The principal of and the interest on the bonds shall be payable in lawful money of the United States of America at the office of the treasurer of the county or at the fiscal agency of the State of Oregon in the city of New York, at the option of the purchaser thereof.

(2) The county treasurer must cause to be paid out of any money in the hands of the county treasurer belonging to the district the interest on or principal of any bond issued pursuant to ORS 266.480 (Power to contract bonded indebtedness for certain purposes) promptly when and as the same becomes due at the place of payment designated in the coupons or bonds.

(3) All coupons or bonds so paid must be immediately reported to the district board.

(4) No county treasurer or district board shall pay to the purchaser of any bond issued pursuant to ORS 266.480 (Power to contract bonded indebtedness for certain purposes) or to any agency representing such purchaser, any commission whatsoever for collection of the interest on or principal of any bond so issued.

(5) The county treasurer shall not be required to remit to the purchaser of any bonds or coupons the amount necessary to redeem such bonds or coupons until the day they are due. [Amended by 1969 c.668 §31]