ORS 450.920
Disposition of proceeds of sale of bonds

The proceeds of the sale of bonds shall be deposited with the county treasurer who is custodian of the funds of the authority and shall be placed by the county treasurer in the sanitary authority fund and credited to a special account or accounts which are designated for use for the particular purpose or purposes for which the bond proceeds are to be used. The proceeds of such bonds shall be used solely for the purpose or purposes indicated in the order calling for election upon the question of the issuance of the bonds and for no other purpose. However, the proceeds of the sale of the bonds may be used for payment of the principal and interest of such bonds and expenses of the formation of the authority. [1955 c.614 §46]

Source: Section 450.920 — Disposition of proceeds of sale of bonds, https://www.­oregonlegislature.­gov/bills_laws/ors/ors450.­html.

Notes of Decisions

Defense of good faith reliance on advice of counsel was available in action on relation of taxpayers against directors of Sanitary Authority seeking return of moneys allegedly expended for purposes other than authorized by law; to establish defense of advice of counsel, defendants must show they relied in good faith on advice given and without personal benefit. Bear Creek v. Hopkins, 53 Or App 212, 631 P2d 808 (1981), Sup Ct review denied

450.005
Definitions for ORS 450.005 to 450.245 450.009
Formation purposes 450.045
Board members 450.055
Board officers 450.059
Election laws applicable 450.062
Increase of board membership from three to five members 450.065
Election of president 450.070
Meetings of board 450.075
Powers of sanitary district 450.082
District may contract for employee health care services or insurance 450.084
Payment for services or insurance by district 450.085
Adoption of regulations and ordinances 450.090
Deposit of district moneys 450.095
Bond election 450.110
District bonds 450.115
Use of proceeds of bond sale 450.120
Debt limitations 450.125
Payment of bonds 450.130
Sewer service charges 450.135
Ordinance declaring method of payment 450.140
Assessment ordinance 450.145
Entry of assessments in lien docket 450.150
Hearing of objections to proposed improvements 450.160
Collection and enforcement of delinquent liens 450.165
Preparation and approval of plans for drains and sewer installations 450.170
Levy of taxes 450.175
Collection of taxes 450.177
Filing boundary change with county assessor and Department of Revenue 450.215
Plans for division and disposal of properties 450.225
Effective date of annexation 450.245
Application of ORS 450.005 to 450.245 to districts organized under former laws 450.250
Definitions for ORS 450.250 to 450.300 450.255
Districts eligible for state help in financing sewerage systems 450.260
Conditions precedent to financing application 450.265
Bonds issued by district pursuant to ORS 450.250 to 450.300 are subject to State Treasurer control 450.270
Powers of State Treasurer in connection with ORS 450.250 to 450.300 450.275
State Treasurer approval of other bond issues by district whose bonds are owned by state 450.280
Circumstances and conditions under which State Treasurer may purchase sewerage system bonds 450.285
State Sanitary District Sewer Bond Fund 450.290
Provisions concerning liquidation of indebtedness incurred by district financing sewerage system under ORS 450.250 to 450.300 450.295
Refinancing indebtedness of district 450.300
Duty of treasurer to keep funds separate and to withhold tax receipts for bond payments 450.303
Purchase of general obligation bonds of sanitary districts 450.600
Joint authorities 450.605
Formation of joint authority by consolidation 450.607
Formation of joint authority that includes city or district by consolidation 450.610
Initiation of proceedings for consolidation 450.615
Contents of resolution 450.620
Assembly of governing bodies 450.625
Election result 450.630
Joint meeting of governing bodies after approval of consolidation 450.635
Board of directors of joint authority 450.640
Powers of joint authority 450.645
Election laws applicable 450.650
Board of directors 450.655
Methods of election of authority directors 450.658
Election of directors 450.660
Water authority formation 450.665
Formation of authorities under special districts law 450.675
Formation of authorities from areas within one or more counties 450.680
Formation of authorities by cities and water districts 450.685
Application of certain provisions to authorities 450.690
Public body 450.693
Services to other local governments authorized 450.695
Acquisition of water rights 450.700
Acquisition of water rights 450.705
Policy 450.710
Definitions for ORS 450.600 to 450.989 450.715
Areas which may be formed into sanitary authorities 450.722
Formation of water or sanitary authority may include dissolution of certain existing districts 450.785
Initiation of formation of sanitary authority by governing body without petition 450.787
Formation of authorities by cities and sanitary or drainage districts 450.788
Law applicable to dissolution of authority 450.790
Sanitary authority board 450.793
Election laws applicable 450.795
Nomination and election of first board members 450.800
Regular and special elections 450.806
General powers of board 450.808
General duties of authority manager 450.810
Board may adopt and enforce ordinances for sanitary purposes 450.815
General powers of authority 450.817
Services to other local governments authorized 450.820
Authority may maintain garbage collection system and engage in insect control activities 450.825
Plan for sewage disposal and drainage to be developed by authority 450.830
Authority may construct and operate sewage disposal and drainage systems 450.835
Contract for or purchase of sewage disposal and drainage systems 450.837
Water and sanitary authority as municipality for purpose of enforcing plumbing code 450.840
Costs for construction and operation of systems and general expenses of sanitary authority 450.845
Areas needing sewerage installations to be determined and plans for installations to be made 450.850
Hearing on board’s proposed construction plans and estimated special assessments 450.855
Action board may take at hearing concerning boundaries, installations to be constructed, costs and financing 450.860
Portion of installation construction costs in an authority chargeable to area benefited 450.865
Ordinance specifying action of board at hearing 450.867
Election on ordinance adopted under ORS 450.865 450.870
Assessments against benefited property 450.875
Collection of delinquent assessments by lien foreclosure procedure 450.880
Sewer service charges 450.885
Tax levies on property in the authority 450.890
Collection of taxes 450.895
Bonds, general obligation or revenue or combination of both 450.897
Bancroft Bonding Act applicable 450.900
Election on bond issues 450.905
Notice of bond election 450.915
Issuance of bonds 450.920
Disposition of proceeds of sale of bonds 450.925
Issuance of refunding bonds 450.930
Redemption of bonds before maturity dates 450.945
Custody and disbursement of authority funds by county treasurer 450.947
Contracts for medical, dental and hospital services 450.949
Payment of contract costs by authority and by employee 450.963
Employees’ retirement system 450.967
Funding of retirement plan 450.971
Employee contribution 450.973
Eligibility for retirement plan 450.977
Tax levy to finance programs under ORS 450.947 to 450.977 450.980
Procedure for testing proceedings and acts of sanitary authorities 450.985
Authority of South Suburban Sanitary District of Klamath Falls to incur indebtedness 450.987
Annexation by city of water or sanitary authority territory 450.988
Filing boundary change with county assessor and Department of Revenue 450.989
Apportionment of cost among serviced property owners 450.990
Penalties
Green check means up to date. Up to date

Current through early 2024

§ 450.920’s source at oregon​.gov