Local Financing of Education

ORS 328.321
Definitions for ORS 328.321 to 328.356


As used in ORS 328.321 (Definitions for ORS 328.321 to 328.356) to 328.356 (State Treasurer subject to provisions regarding issuance of general obligation bonds):

(1)

“Common School Fund” means the state school fund described in section 2, Article VIII, Oregon Constitution.

(2)

“General obligation bond” has the meaning given that term in ORS 287A.001 (Definitions for ORS chapter 287A).

(3)

“Paying agent” means the corporate paying agent selected by the school district board for a school bond issue who is:

(a)

Duly qualified; and

(b)

Acceptable to the State Treasurer.

(4)

“School bond” means any general obligation bond issued by a school district.

(5)

“School district” means a common or union high school district, an education service district or a community college district.

(6)

“State bonds” means those general obligation bonds issued by the State of Oregon to meet its obligations under the state guaranty as described in ORS 328.351 (Powers of State Treasurer when state funds are insufficient for payment of debt service).

(7)

“State guaranty” means the pledge of the full faith and credit and taxing power of the State of Oregon to guarantee payment of eligible school bonds as set forth in ORS 328.321 (Definitions for ORS 328.321 to 328.356) to 328.356 (State Treasurer subject to provisions regarding issuance of general obligation bonds). [1997 c.614 §2; 1999 c.251 §1; 2007 c.783 §131]
Note: 328.321 (Definitions for ORS 328.321 to 328.356) to 328.361 (Short title) were enacted into law by the Legislative Assembly but were not added to or made a part of ORS chapter 328 or any series therein by legislative action. See Preface to Oregon Revised Statutes for further explanation.

Source

Last accessed
Jun. 26, 2021