2015 ORS 454.245¹
Serial bonds
  • term and content
  • interest
  • amount

(1) The governing body of the municipality may determine the maturities and tenor of the bonds issued under ORS 454.235 (Election). However, the bonds shall be serial in character in accordance with present or future provisions of law or the charter. They shall be payable in not to exceed 40 years from the date of issuance thereof, and shall be sold at a price to net the municipality not less than the par value thereof with accrued interest. They shall bear interest at not to exceed six percent per annum payable semiannually.

(2) The amount of any bonds issued under ORS 454.205 ("Municipality" defined) to 454.255 (Plans and cost estimates) shall not be within any limitation of indebtedness fixed by law or charter, but shall be in addition thereto. [1973 c.213 §§6,7]

See annota­tions under ORS 224.250 in permanent edi­tion.

Chapter 454

Atty. Gen. Opinions

Employ­ment of journeyman plumbers to construct drain and sewerage lines, (1976) Vol 37, p 1404


1 Legislative Counsel Committee, CHAPTER 454—Sewage Treatment and Disposal Systems, https://­www.­oregonlegislature.­gov/­bills_laws/­ors/­ors454.­html (2015) (last ac­cessed Jul. 16, 2016).
 
2 Legislative Counsel Committee, Annotations to the Oregon Revised Stat­utes, Cumulative Supplement - 2015, Chapter 454, https://­www.­oregonlegislature.­gov/­bills_laws/­ors/­ano454.­html (2015) (last ac­cessed Jul. 16, 2016).
 
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.