Oregon Statutes 450.125 – Payment of bonds; issuance of improvement bonds
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(1) All general obligation and revenue bonds shall be paid within a period of 30 years and in annual installments of such amounts as will make the combined amount of principal and interest payable each year as nearly equal as practicable during the years of payment.
Terms Used In Oregon Statutes 450.125
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
(2) Improvement bonds may be issued in the manner provided by ORS § 223.205 and 223.210 to 223.295 without submitting the question of their issuance to the electors of the district. [Amended by 1955 c.612 § 2; 1969 c.563 § 15; 1983 c.350 § 270]