ORS 294.483¹
Supplemental budget not required in certain cases

A municipal corporation is not required to adopt a supplemental budget to:

(1) Expend during the current year or current budget period proceeds of the sale of the following bonds or other obligations:

(a) Bonds that are issued under ORS 287A.150 (Authority of public body to issue revenue bonds) and for which the referral period described in ORS 287A.150 (Authority of public body to issue revenue bonds) ended after the preparation of the budget for the current year or current budget period.

(b) Bonds or other obligations that were approved by the electors during the current year or current budget period.

(c) Bonds or other obligations issued during the current year or current budget period to refund previously issued bonds or obligations.

(2) Expend during the current year or current budget period other funds to pay the principal and interest coming due on bonds or other obligations listed in subsection (1) of this section.

(3) Expend assessments or other revenues to redeem bonds or other obligations that are payable from the assessments or other revenues, when the assessments or other revenues are received as a result of prepayments or other unforeseen circumstances. [1993 c.97 §4; 1995 c.333 §9; 1997 c.308 §28; 2001 c.135 §26; 2003 c.195 §26; 2005 c.443 §28; 2007 c.783 §121]

Notes of Decisions

Tax court properly invalidated sanitary authority's proposed tax where authority had sufficient federal grant and other funds available to meet pay­ments due on its bonds without tax. Bashaw, Dept. of Rev. v. Bear Creek Valley San. Auth., 287 Or 113, 597 P2d 822 (1979)

Atty. Gen. Opinions

Budgeting deferred compensa­tion assets and liabilities, (1976) Vol 37, p 1284; exclusion of municipal financial activities with respect to urban renewal agency projects, (1977) Vol 38, p 1062

1 Legislative Counsel Committee, CHAPTER 294—County and Municipal Financial Administration, https://­www.­oregonlegislature.­gov/­bills_laws/­Archive/­2007ors294.­pdf (2007) (last ac­cessed Feb. 12, 2009).
 
2 Legislative Counsel Committee, Annotations to the Oregon Revised Stat­utes, Cumulative Supplement - 2007, Chapter 294, https://­www.­oregonlegislature.­gov/­bills_laws/­ors/­294ano.­htm (2007) (last ac­cessed Feb. 12, 2009).
 
3 OregonLaws.org assembles these lists by analyzing references between Sections. Each listed item refers back to the current Section in its own text. The result reveals relationships in the code that may not have otherwise been apparent. Currency Information