Oregon § 548.300 Contracts for state loans; purposes for which authorized; amount of loan

Oregon Statutes

§ 548.300 — Contracts for state loans; purposes for which authorized; amount of loan

Oregon § 548.300

Vol.15

Title 45Water Resources; Irrigation, Drainage, Flood Control, Reclamation

Ch. 548Provisions Applicable Both to Drainage Districts and to Irrigation

This text of Oregon § 548.300 (Contracts for state loans; purposes for which authorized; amount of loan) 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. § 548.300 (2026).

Text

(1)The board of supervisors of any drainage district or the board of directors of any irrigation district may, whenever it is determined by such board that it is for the best interests of the district, enter into a contract with any governmental agency of the State of Oregon for a loan:

(a)For the refunding of any or all of its outstanding indebtedness;

(b)For the refunding of any state, county and municipal ad valorem taxes or special assessments levied by such district; and

(c)For the financing of any improvement or supplemental works which may be needed to reclaim lands in the district or for maintenance or operation, and for the payment or repayment thereof, upon such terms or conditions as may be agreed upon in the contract.

(2)In no case shall the total of any loan made by any g

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(1) The board of supervisors of any drainage district or the board of directors of any irrigation district may, whenever it is determined by such board that it is for the best interests of the district, enter into a contract with any governmental agency of the State of Oregon for a loan:
(a) For the refunding of any or all of its outstanding indebtedness;
(b) For the refunding of any state, county and municipal ad valorem taxes or special assessments levied by such district; and
(c) For the financing of any improvement or supplemental works which may be needed to reclaim lands in the district or for maintenance or operation, and for the payment or repayment thereof, upon such terms or conditions as may be agreed upon in the contract.
(2) In no case shall the total of any loan made by any governmental agency exceed in the aggregate the total amount of the outstanding indebtedness of such district so refunded, but this limitation shall not apply to any loan or any part of any loan which may be made by such governmental agency for any purpose herein provided other than refunding such outstanding indebtedness.