Oregon § 223.730 Application of proceeds from sale of bonds

Oregon Statutes

§ 223.730 — Application of proceeds from sale of bonds

Oregon § 223.730

Vol.6

Title 21Cities

Ch. 223Local Improvements and Works Generally

This text of Oregon § 223.730 (Application of proceeds from sale of bonds) is published on Counsel Stack Legal Research, covering Oregon primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Or. Rev. Stat. § 223.730 (2026).

Text

The proceeds from the sale of bonds issued under ORS 223.725 shall be applied as follows:

(1)The amount provided under ORS 223.705 to be rebonded shall be placed to the credit of the improvement bond sinking fund. Thereafter, as soon as practicable and in so far as possible, there shall be called and paid an equivalent amount of the bonds originally issued and so refunded by new applications to pay in installments.

(2)The balance of the proceeds of the sale shall be placed to the credit of the improvement bond interest fund.

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The proceeds from the sale of bonds issued under ORS 223.725 shall be applied as follows:
(1) The amount provided under ORS 223.705 to be rebonded shall be placed to the credit of the improvement bond sinking fund. Thereafter, as soon as practicable and in so far as possible, there shall be called and paid an equivalent amount of the bonds originally issued and so refunded by new applications to pay in installments.
(2) The balance of the proceeds of the sale shall be placed to the credit of the improvement bond interest fund.