Oregon Statutes 222.295 – Effect of consolidation; records, assets and uncollected taxes of consolidating cities transferred to consolidated city
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Upon the effective date of the consolidation, the consolidated city shall succeed to all the assets and become charged with all the liabilities and obligations of all cities included in the consolidated city, except as the charter of the consolidated city provides to the contrary. The officers of the consolidating cities shall forthwith deliver to the officers of the consolidated city the assets and records of the consolidating cities. Uncollected taxes theretofore levied by the consolidating cities shall become the property of the consolidated city and shall be delivered to it by the county treasurer upon collection. [1971 c.761 § 12]
Terms Used In Oregon Statutes 222.295
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- City: includes any incorporated village or town. See Oregon Statutes 174.100
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.