Any irrigation district desiring to refund its outstanding indebtedness or issue bonds for any purpose may use the procedure provided by ORS § 545.565 to 545.621 instead of other procedures provided by law. Before any decision is made to issue bonds under those sections the board of directors shall enter a resolution stating the purpose for which the bonds are to be issued and, if the bonds are to be used for refunding indebtedness, describing the bonds and indebtedness to be retired by the refunding bonds or from the proceeds of the sale of the refunding bonds. [Formerly 545.242]

Ask a legal question, get an answer ASAP!
Click here to chat with a lawyer about your rights.