Sewage Treatment and Disposal Systems

ORS 454.245
Serial bonds

  • term and content
  • interest
  • amount


The governing body of the municipality may determine the maturities and tenor of the bonds issued under ORS 454.235 (Election). However, the bonds shall be serial in character in accordance with present or future provisions of law or the charter. They shall be payable in not to exceed 40 years from the date of issuance thereof, and shall be sold at a price to net the municipality not less than the par value thereof with accrued interest. They shall bear interest at not to exceed six percent per annum payable semiannually.


The amount of any bonds issued under ORS 454.205 (“Municipality” defined) to 454.255 (Plans and cost estimates) shall not be within any limitation of indebtedness fixed by law or charter, but shall be in addition thereto. [1973 c.213 §§6,7]

See annotations under ORS 224.250 in permanent edition.


Last accessed
Mar. 11, 2023