Sale of bonds
- • disposition of proceeds from bond sales
(1) The proceeds of any bonds or notes authorized to be issued under ORS 223.235 (Issuance of bonds) shall be paid by the purchaser to the treasurer of the issuing local government. Accrued interest and any premium may be credited to any account designated by the issuing local government. The balance of the proceeds shall be credited to the local improvement fund or funds for which the bonds or notes are issued.
(2) A local government may create, within the Bancroft Bond Redemption Fund maintained by the local government as required by ORS 223.285 (Separate funds kept for moneys received), separate accounts for separate issues of bonds or notes issued as provided in ORS 223.235 (Issuance of bonds), and may pledge any amounts deposited in the separate accounts to specific issues of bonds or notes without pledging the amounts to any other issues of such bonds or notes. [Amended by 1957 c.103 §9; 1975 c.642 §5; 1983 c.349 §6; 1991 c.902 §16; 2003 c.802 §10]
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.