Oregon Statutes 552.635 – Levy to establish revolving fund; use of fund
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For the purpose of establishing a revolving fund to provide money to finance the planning and construction of district works, a district board may levy an ad valorem tax of not to exceed in any one year three-twentieths of one percent (0.0015) of real market value of all taxable property within the district. The revenue derived from such taxes shall be credited to a revolving fund, and shall be disbursed by the district board and used only for the purpose for which levied. [1969 c.606 § 46; 1991 c.459 § 429]
Terms Used In Oregon Statutes 552.635
- District: means a water improvement district proposed or created under this chapter. See Oregon Statutes 552.013
- District board: means the board of directors of a district. See Oregon Statutes 552.013
- Real market value: means real market value computed in accordance with ORS § 308. See Oregon Statutes 552.013
- Works: means dams, storage reservoirs, canals, ditches, dikes, levees, revetments, and all other structures, facilities, improvements and property necessary or convenient for draining land, controlling flood or surface waters, or supplying water for irrigation, domestic supply or other purposes. See Oregon Statutes 552.013