ORS 547.620
Retirement of outstanding bonds

  • notice to bondholders to submit propositions
  • premium
  • calling of bonds

(1)

Whenever there is in the sinking fund a surplus of $500 or more, over and above the interest maturing before the next levy, the district treasurer shall give notice for two weeks in one or more newspapers of general circulation printed and published in the county in which the district was first organized. The notice shall state the amount of such surplus and that on the day and hour named in the notice, sealed propositions will be received at the office of the district treasurer for surrender of bonds of the district.

(2)

The district treasurer shall, at the time and place named, open the propositions and accept the lowest bid. However, no bid shall be accepted for an amount exceeding the par value of the bonds with accrued interest thereon and seven percent premium. If bids are not offered at that figure, or less, sufficient to exhaust the amount of surplus on hand, the board of trustees may then call in any bonds of the district, giving the numbers thereof in the exact order of their issuance beginning with the lowest or first number, and redeem the same at par value and five percent premium with accrued interest to date of such recall. Thereafter interest thereon ceases and the amount due shall be set aside for payment of the bonds whenever presented. [Amended by 1969 c.694 §43; 2001 c.215 §25]

Source: Section 547.620 — Retirement of outstanding bonds; notice to bondholders to submit propositions; premium; calling of bonds, https://www.­oregonlegislature.­gov/bills_laws/ors/ors547.­html.

547.005
Authority to form drainage district 547.010
Petition to form district 547.015
Verification and filing of petition 547.020
Fixing time and place of hearing 547.025
Filing of objections 547.030
Evidence at hearing 547.040
Application of Act of 1915 and amendments to districts organized under earlier laws 547.045
Public lands within district 547.050
Signing of petition by Governor 547.055
Attack on validity or boundaries of district 547.057
Drainage district activity as urban service 547.060
Scope of Drainage District Act 547.063
Definitions 547.065
Public hearing required 547.067
Powers of drainage district 547.069
Formation of drainage district by owners of certain lands permitted 547.071
Powers of drainage district officers and employees 547.073
Powers of board of supervisors 547.075
Contracts with federal government permitted 547.077
Powers of boards of supervisors west of the Cascade Mountains 547.079
Clogged or obstructed conditions 547.081
Repair of clogged or obstructed condition 547.083
Owner or occupant liable for repair expense 547.105
Election of supervisors 547.110
Annual meeting 547.112
Change in number of supervisors 547.115
Supervisor’s oath of office 547.120
Board of supervisors 547.125
Secretary as treasurer 547.130
Record of meetings, proceedings, certificates, bonds, acts 547.135
Removal of employees 547.140
Uniform charge to pay expenses of organizing district, surveys, assessing benefits and damages 547.150
Payment of claims 547.205
Appointment of engineer 547.210
Engineer’s report 547.215
Commissioners 547.220
Notice of appointment of commissioners 547.225
Assessment of benefits and damages by commissioners 547.230
Notice of report of commissioners 547.235
Exceptions to report or assessment 547.240
Dissolution of district if cost exceeds benefits 547.245
Reassessment of benefits 547.250
Changes in plan for reclamation 547.255
Objections to petition 547.260
Appointment of commissioners when plan amended 547.265
Amendment of plan where works or charge insufficient 547.305
Entry on land 547.310
Board authority regarding reclamation works 547.315
Connecting existing improvements 547.320
Powers of districts regarding irrigation works 547.325
Powers of districts under 1,000 acres regarding domestic water supply 547.355
Contracts with United States for reclamation by drainage or irrigation authorized 547.360
Payment of amounts due 547.405
Districts west of Cascades 547.410
Maintaining improvements 547.415
Failure of owner or occupant to act 547.420
Liability for cost of work 547.425
Prohibited practices 547.430
Civil liability for expense of removal of filth or obstruction 547.455
Annual charge or assessment 547.460
County, city and town lands subject to taxation, assessment or charges 547.465
Assessment or charge of low lands used for growing crops 547.470
Extra assessment or charge for lake drainage 547.475
List of assessments and apportionments 547.480
Collection of tax 547.482
Filing boundary change with county assessor and Department of Revenue 547.485
Governing body of county to make assessment and levy upon failure of supervisors to do so 547.490
Waiver of penalty or interest by certain districts 547.492
Alternative charge or assessment method 547.495
Crops bound by lien 547.500
Notice or claim of crop lien 547.505
Recording of crop lien claim by clerk 547.510
Form of crop lien claim 547.515
Removal of crops to another county 547.555
Bonds 547.560
Sale of bonds 547.565
Payment of bonds from assessments 547.570
Bond proceeds 547.575
Bond fund account 547.580
Retirement of bonds before maturity 547.605
Funding and refunding of debt 547.610
Sale or exchange of bonds 547.615
Tax for payment of interest and principal 547.620
Retirement of outstanding bonds 547.655
Authority to adopt alternative procedure 547.660
Exchange of refunding bonds for outstanding indebtedness 547.665
Numbering 547.670
Offer by holders of indebtedness to surrender evidences thereof or accept proportional payment 547.675
Lien on land assessed for bond payment 547.680
Emergency fund 547.685
Retirement of bonds before maturity 547.690
Judicial confirmation 547.695
Sale of lands for delinquent charges 547.697
Bond fund separate from district general fund 547.755
Part of district annexed to city to be withdrawn from district only by consent of voters 547.990
Penalties
Green check means up to date. Up to date

Current through early 2024

§ 547.620’s source at oregon​.gov