(a) Issue and exchange, for any such indebtedness, its bonds bearing interest at a rate determined by the district school board; or
(b) Issue and sell such bonds and apply the proceeds of such sale in payment of the indebtedness for the payment of which the refunding bonds are proposed to be issued.
(2) Refunding bonds issued under subsection (1) of this section shall in all respects conform to, and be governed, as to their issue, by the provisions of ORS chapter 287A.
(3) The debt limitations imposed by law shall not affect the right of any school district to issue refunding bonds under authority of this section. The validity of any bonds so issued, or of the indebtedness thereby refunded, shall not thereafter be open to contest by the school district or by any person for any reason. [Amended by 1965 c.100 §60; 1965 c.315 §1; 1981 c.94 §28; 1983 c.347 §24; 2007 c.783 §129]
Structure 2021 Oregon Revised Statutes
Volume : 09 - Education and Culture
Chapter 328 - Local Financing of Education
Section 328.001 - Definitions for chapter.
Section 328.005 - County school fund; uses.
Section 328.115 - Loan of fund and rental of lands; disbursement of interest and rents.
Section 328.140 - Sale, rental or lease of property; disposition of proceeds.
Section 328.205 - Power to contract bonded indebtedness; use of proceeds to pay expenses of issue.
Section 328.210 - Bond elections.
Section 328.213 - Issuance of negotiable interest-bearing warrants.
Section 328.245 - Limitation on bonded debt of districts generally.
Section 328.260 - Tax levy to pay interest and principal of bonds; use of funds derived from tax.
Section 328.265 - School district bond tax levied by county.
Section 328.270 - Payment of principal and interest; collection commission.
Section 328.275 - Redemption and payment of bonds.
Section 328.280 - Funding or refunding district indebtedness.
Section 328.284 - Funds diversion agreement related to payment on revenue bonds.
Section 328.300 - Marketing bonds jointly or through association.
Section 328.304 - County education bond district; creation; powers; purpose.
Section 328.316 - Impact aid revenue bonds; issuance; requirements.
Section 328.318 - Funds required for impact aid revenue bonds.
Section 328.321 - Definitions for ORS 328.321 to 328.356.
Section 328.326 - State guaranty of school bonds allowed.
Section 328.336 - Determination of ineligibility.
Section 328.346 - Recovery from school districts of payments on school bonds by State Treasurer.
Section 328.348 - Security for school bond obligations.
Section 328.361 - Short title.
Section 328.441 - Custody and disbursement of school district funds.
Section 328.445 - Disbursement of school funds by check or warrant.
Section 328.450 - School warrant procedure.
Section 328.460 - Cancellation of school warrants not presented for payment within seven years.
Section 328.465 - Annual audit procedure.
Section 328.467 - Audit determinations; deficiencies; correction; sanctions.
Section 328.542 - Preparation of district budget; certification of taxes.
Section 328.555 - Property liable for district indebtedness; tax levy.
Section 328.565 - Power to create indebtedness; zone academy bonds; tax credit bonds.
Section 328.570 - Division of district into tax zones.
Section 328.573 - Notice of public hearing on tax zones.
Section 328.576 - Public hearing; resolution to establish tax zones.
Section 328.579 - Determination of tax in zones; limitations.