Effect of failure to comply or default
(1) If a municipality fails to comply with a contract entered into under ORS 285B.410 (Definitions for ORS 285B.410 to 285B.482) to 285B.482 (Revenue bonds as parity bonds), the Oregon Business Development Department may seek appropriate legal remedies to secure any repayment due the Special Public Works Fund. If any municipality defaults on payments due to the Special Public Works Fund under ORS 285B.410 (Definitions for ORS 285B.410 to 285B.482) to 285B.482 (Revenue bonds as parity bonds), the State of Oregon may withhold any amounts otherwise due to the municipality to apply to the indebtedness. The department may waive this right to withhold.
(2) Moneys withheld under subsection (1) of this section shall be deposited in the Special Public Works Fund and shall be used to repay any account in the fund from which funds were expended to pay obligations upon which the municipality defaulted. [Formerly 285.727; 2009 c.830 §101]
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.