ORS 224.450
Validation of revenue bonds issued by cities of less than 100,000

  • sale of bonds to federal government
All bonds or other obligations issued prior to November 15, 1936, by any city or town of less than 100,000 population, for the purpose of financing in whole or in part the construction, enlargement, extension, repair or improvement of a sewer system, including a sewage treatment or disposal plant and all facilities appurtenant to such system or connected therewith, where such bonds or other obligations are payable or will be payable solely from the gross or net revenues of such sewer system or any part thereof, including the revenues of improvements, additions and extensions thereto which may thereafter be constructed or acquired, as well as the revenues of the existing sewer systems, plants or properties, if any, so enlarged, extended, repaired or improved, and all proceedings for the authorization and issuance of such bonds or other obligations and the sale, execution and delivery thereof, hereby are validated, ratified, approved, authorized and confirmed, notwithstanding that the amount of such bonds or other obligations, together with the amount of bonds or other obligations of such city or town outstanding at the time of the issuance thereof, exceeds or will exceed any limitation or restriction on the amount or percentage of indebtedness or of outstanding bonds or other obligations of such city or town contained in the charter of such city or town or in any general or special law, and notwithstanding any defects or irregularities in such proceedings, and without regard to the fact that such bonds or other obligations may have been issued pursuant to the charter of such city or town or pursuant to any general or special law. Notwithstanding any provision in such proceedings that such bonds or other obligations shall be issued in manner and form satisfactory to the Reconstruction Finance Corporation, or that such bonds or other obligations shall be sold to the Reconstruction Finance Corporation, such bonds or other obligations may be sold to the United States of America, through the appropriate federal officer, agency or instrumentality in manner and form satisfactory to such officer, agency or instrumentality. The bonds or other obligations issued and sold prior to November 15, 1936, are the binding and legal obligations of the city or town issuing them in the actual form in which those bonds and obligations have been issued.

Source: Section 224.450 — Validation of revenue bonds issued by cities of less than 100,000; sale of bonds to federal government, 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
Green check means up to date. Up to date

Current through early 2024

§ 224.450’s source at oregon​.gov