Oregon Statutes 261.725 – Disposal of sale proceeds
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(1) The proceeds derived from the sale shall be used to pay the indebtedness of the district.
Terms Used In Oregon Statutes 261.725
- district: means an incorporated people's utility district, created under the provisions of this chapter. See Oregon Statutes 261.010
(2) If, after payment of all debts of the district, there remain any surplus funds to the credit of the district, such funds shall be turned over to the county treasurer of each county in which the district may be located, to become a part of the general fund of the county in the proportion that the assessed value of the property within the boundaries of the district in such county bears to the total assessed value of all property within the boundaries of the district as determined by the last assessment rolls.