Proceeds of sale
- • special fund
- • uses of moneys
All proceeds from the sale of property owned by the district and subject to the lien of outstanding bonds shall be held in a special fund to be applied:
(1) First, to the construction or reconstruction of the drainage or other works of the district that are required by the United States as one of the conditions for the purchase of the property by the United States; and
(2) Second, as may be agreed between the district and the holders of the bonds, except that when the proceeds are applied to bonded indebtedness, the application shall be made to payment on the outstanding bonds as their interests may appear. [Formerly 545.150]
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.