ORS 224.350
General powers of State Treasurer under ORS 224.310 to 224.420

  • rules

(1)

The State Treasurer shall be the sole judge as to whether state funds shall be invested in the project and as to which undertakings shall first be financed. The decision of the State Treasurer on the subject of investment and priority shall be final.

(2)

The State Treasurer may enlist the technical services of any state officer or department in a study of the feasibility and cost of the sewerage project.

(3)

The State Treasurer, in the discretion of the State Treasurer, may purchase, with funds subject to investment by the State Treasurer, or with moneys from the revolving fund as provided in ORS 224.390 (State Sewer Bond Revolving Fund), general obligation sewerage system bonds of any municipality including bonds issued under statutory or charter authority pursuant to applications to pay assessments in installments. To facilitate the construction of a sewerage system for a municipality, the state may purchase at current market prices with such funds the outstanding water system bonds of the municipality. After the purchase of such bonds, the State Treasurer may agree with the municipality as to allocation of the net revenues of the water system of the municipality to the payment of the principal of and the interest upon the water system bonds, and upon the sewerage system bonds of the municipality. If the State Treasurer deems it expedient in the acquisition and construction of a sewerage system for a municipality to furnish sewerage service for territory that is contiguous to a municipality, or for territory outside the municipality that, in the judgment of the State Treasurer, can conveniently be served by the sewerage system thereof, the state may purchase the sewerage system bonds of a sanitary district or districts comprising such territory, or any part thereof, provided the public indebtedness for all purposes within said sanitary district or districts shall not exceed 12-1/2 percent of the real market value of all taxable property therein.

(4)

The State Treasurer may authorize municipalities or sanitary districts, or both, to issue sewerage system bonds with the right reserved to them to redeem bonds at par value and accrued interest prior to the final maturity dates of the bonds.

(5)

The State Treasurer, in the discretion of the State Treasurer, may authorize deferment of payment of interest upon the sewerage bonds of the municipality or district for a period not exceeding three years, and may provide for the issuance of such bonds with graduated rates of interest.

(6)

The State Treasurer may adopt rules and regulations specifying the procedure to be followed by a municipality or sanitary district in availing itself of the provisions of ORS 224.310 (Definitions for ORS 224.310 to 224.420) to 224.420 (Duty of local treasurer to keep funds separate and withhold bond payments). [Amended by 1953 c.287 §9; 1967 c.293 §25; 1991 c.459 §352]

Source: Section 224.350 — General powers of State Treasurer under ORS 224.310 to 224.420; rules, https://www.­oregonlegislature.­gov/bills_laws/ors/ors224.­html.

224.010
Definitions for ORS 224.010 to 224.170
224.020
Authority of city to construct sewer system
224.030
Authority of city over water and waterways
224.040
Assessment of property
224.050
Rights of owners outside city limits
224.065
Writ of review
224.080
Record and effect of judgment
224.090
Assessment lien on property outside city limits
224.100
Records and indexes of transcripts
224.110
Enforcing liens on property outside city limits
224.120
Sale without foreclosure
224.130
Assessment of property in drainage district
224.140
Authority to control sewer system
224.150
Federal aid
224.160
Procurement of funds for construction
224.170
Certain laws and charter provisions applicable to property beyond city limits
224.232
Bond election
224.270
Validation of bond issues
224.310
Definitions for ORS 224.310 to 224.420
224.320
Municipalities eligible for state help in financing sewerage systems
224.330
Conditions precedent to financing application
224.340
Bonds
224.350
General powers of State Treasurer under ORS 224.310 to 224.420
224.370
Municipality or district not to issue other bonds
224.380
Limitations on authority of State Treasurer to purchase bonds
224.390
State Sewer Bond Revolving Fund
224.400
Approval by State Treasurer of rates, collection of charges and delinquent assessments
224.410
Authority to appoint receiver and withhold moneys from state sources on default
224.420
Duty of local treasurer to keep funds separate and withhold bond payments
224.450
Validation of revenue bonds issued by cities of less than 100,000
224.510
Sewage charge on water users
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