(2) For the purpose of receiving deposits of school funds, the district school board of each district described in subsection (1) of this section shall designate such bank or banks within the county or counties in which the district is located, as the board deems safe and proper depositories for school district funds. The custodian designated under subsection (1) of this section is not liable personally or upon official bond of the custodian for moneys lost by reason of failure or insolvency of any bank that becomes a depository under this subsection.
(3) If the district does not designate a custodian of school funds, the county treasurer or county fiscal officer shall be custodian of funds of all school districts. School district funds in the county treasurer’s or county fiscal officer’s custody shall be disbursed only upon warrants drawn on the county treasurer or county fiscal officer by the district school board in the manner provided by law.
(4) The proceeds of the sale of school district bonds or warrants shall be used solely for the purpose for which the bonds or warrants were issued, including reduction of existing bond or warrant indebtedness. [1953 c.89 §§2,3,4; 1955 c.312 §2; 1965 c.100 §66; 1975 c.770 §6; 1981 c.441 §3; 2003 c.226 §8]
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.