ORS 554.385
Findings by board of reorganizing district

  • plan of dissolution
  • transfer of district assets to corporation
  • statement of dissolution

(1)

When the decision of the landowners described in ORS 554.375 (Dissolution of district and reorganization as corporation) authorizes the dissolution of a drainage district or a diking district and the reorganization of the district into a corporation for drainage or flood control under this chapter, the board of supervisors of a drainage district or the advisory board of a diking district shall make findings of fact which shall include:

(a)

The amount of each outstanding bond, coupon and other indebtedness, with a general description of the indebtedness and the name of the holder and owner of each, if known.

(b)

A description of each parcel of real property and interest in real property and, if the property was acquired for delinquent taxes or assessments, the amount of such taxes and assessments on each parcel of property.

(c)

Uncollected assessments and charges levied by the district and the amount upon each lot or tract of land.

(d)

A description of the personal property and of all other assets of the district.

(2)

The board of supervisors or the advisory board shall propose a plan of dissolution and liquidation, which shall include provision for transfer and conveyance of all assets of the district to the corporation organized by the board of supervisors or advisory board under ORS 554.380 (Articles of incorporation for corporation formed from dissolved district).

(3)

Dissolution of a drainage district or diking district under this section shall occur without further action by the landowners of the district.

(4)

The board of supervisors or the advisory board shall convey to the corporation organized by the board of supervisors or the advisory board under ORS 554.380 (Articles of incorporation for corporation formed from dissolved district) all assets of the dissolving district when:

(a)

The corporation assumes all debts and obligations of the dissolving district and undertakes to continue to furnish the services provided by the dissolving district pursuant to the plan of dissolution and liquidation and the articles of incorporation of the corporation; and

(b)

The consent of all the known holders of valid indebtedness against the district has been obtained, or provision has been made in the plan for payment of the nonassenting holders.

(5)

When all assets of the dissolving district are transferred to the corporation, the board of supervisors or the advisory board shall file with the governing body of the county in which the greatest area of the district is situated a sworn statement that the district has been dissolved under ORS 554.320 (Exemption from taxation) and 554.375 (Dissolution of district and reorganization as corporation) to 554.390 (Dissolution of district and reorganization as corporation under ORS 554.320 and 554.375 to 554.390 prohibited after 2004) and its affairs liquidated. From the date of the statement, the corporate existence of the district is terminated for all purposes.

(6)

ORS 548.900 (Definitions for ORS 548.900 to 548.955) to 548.955 (Contents of judgment) and 551.180 (Dissolution conditions and procedure) do not apply to a district dissolved under ORS 554.320 (Exemption from taxation) and 554.375 (Dissolution of district and reorganization as corporation) to 554.390 (Dissolution of district and reorganization as corporation under ORS 554.320 and 554.375 to 554.390 prohibited after 2004). [1993 c.502 §3]

Source: Section 554.385 — Findings by board of reorganizing district; plan of dissolution; transfer of district assets to corporation; statement of dissolution, https://www.­oregonlegislature.­gov/bills_laws/ors/ors554.­html.

554.005
Filing requirements
554.007
Effective time and date of document
554.009
Correcting filed document
554.011
Penalty for signing false document
554.012
Forms
554.015
Filing duty of Secretary of State
554.016
Filing, service, copying and certification fees
554.017
Appeal from Secretary of State’s refusal to file document
554.018
Evidentiary effect of copy of filed document
554.019
Certificate of existence
554.020
Articles of incorporation
554.030
Evidence of corporate existence
554.040
Contents of articles
554.060
Challenge to validity of organization
554.070
Membership
554.080
Corporate existence
554.082
Registered office and registered agent
554.084
Change of registered office or registered agent
554.086
Resignation of registered agent
554.088
Service on corporation
554.090
Directors
554.100
Oath of office
554.110
Powers of directors
554.120
Records of proceedings of directors
554.130
Assessments
554.135
Alternative method for collecting assessments
554.140
Directors’ duty to institute proceedings to enforce lien
554.150
Action to compel assessment
554.160
Assessments to provide funds to meet obligations
554.170
Covenants by landowners
554.180
Landowners’ notice
554.190
Recording notice
554.200
Incurring indebtedness before notice recorded
554.210
Plans and specifications
554.220
Bonds
554.230
Bonds
554.240
Retirement of bonds
554.250
Refunding bonds
554.260
Contracts with governmental agencies or others for financial assistance or cooperative action
554.270
Purchase or lease of works and water rights
554.275
Activity of corporation as urban service
554.280
Resolution for serial coupon obligations
554.290
Warrants to pay claims
554.300
Amendment of articles
554.302
Dissolution of corporation by Secretary of State
554.305
Notice of grounds for dissolution
554.307
Reinstatement of dissolved corporation
554.309
Denial of reinstatement
554.315
Annual report
554.320
Exemption from taxation
554.340
Judicial determination of legality of proceedings
554.350
Service to lands outside district
554.375
Dissolution of district and reorganization as corporation
554.380
Articles of incorporation for corporation formed from dissolved district
554.385
Findings by board of reorganizing district
554.390
Dissolution of district and reorganization as corporation under ORS 554.320 and 554.375 to 554.390 prohibited after 2004
554.410
Applicability of ORS 554.005 to 554.340 to corporations organized under 1911 Act
554.420
Amendment of articles, and landowners’ notice, of corporation organized under 1911 Act
554.430
Applicability of 1911 Act, as amended, to corporations organized under that Act
554.440
Malheur Improvement Company
554.510
Authority to include or exclude lands
554.520
Application for inclusion or exclusion
554.530
Application
554.540
Meeting date
554.550
Notice of meeting
554.560
Quorum for meeting
554.570
Effect of exclusion on existing debts
554.580
Condition of approval of inclusion
554.590
Articles of amendment
Green check means up to date. Up to date