Certain interest to be included in budget
- • method
In the exercise of the authority granted by ORS 287A.180 (Short-term borrowing by public body), 328.565 (Power to create indebtedness) and 341.715 (Short-term bonds), specific provision for interest must be contained in duly adopted budgets. However, reporting of anticipated loan proceeds and related principal repayments within a particular fiscal year or budget period may be accomplished in narrative form or by footnoted schedules to the duly adopted budget and need not be included as a budgetary resource or requirement. Such narrative or footnoted disclosure must indicate that principal repayments are a liability of the applicable fund from which they are made. [Formerly 294.443]
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