- • deposit
- • separation of funds
- • disbursements
(1) Any irrigation district collecting incurred charges as provided in ORS 545.482 (Authorization of method for billing and collecting incurred charges) to 545.508 (Moneys collected) shall deposit all moneys collected in an insured institution, as defined in ORS 706.008 (Additional definitions for Bank Act), selected by the board of directors. The amounts collected for operation and maintenance, construction, bond principal, interest or other purposes shall be kept in separate funds and accounted for separately.
(2) Moneys in the funds shall be paid out only upon order of the board by:
(a) Checks or drafts signed by at least two individuals authorized by the board to sign checks or drafts; or
(b) Electronic funds transfers authorized by the board and initiated by at least two individuals authorized by the board.
(3) As used in this section, “electronic funds transfer” has the meaning given that term in ORS 293.525 (Payments to and by state agencies by electronic funds transfers). [Amended by 1967 c.451 §24; 1991 c.459 §423n; 1995 c.42 §123; 2001 c.476 §10; 2005 c.492 §1]
BONDS; CONTRACTS WITH STATE OR FEDERAL GOVERNMENT
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.