Filing of lien against port
- • notice of satisfaction
(1) If the Oregon Economic and Community Development Commission accepts a lien against any port district’s real or personal property as collateral required by ORS 285A.681 (Loan from fund), the commission shall file notice of the loan with the recording officer of each county in which is situated any real or personal property of the port district. The notice shall contain a description of the encumbered property, the amount of the loan, and a statement that loan payments are liens against such property.
(2) Upon payment of all amounts loaned to a port district pursuant to ORS 285A.666 (Definitions for ORS 285A.666 to 285A.732) to 285A.732 (Short title), the commission shall file with each recording officer referred to in subsection (1) of this section, a satisfaction notice that indicates repayment of the loan. [Formerly 285.890]
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