(2) The bonds shall bear interest at a rate determined by the board of directors, payable semiannually on the first day of January and July of each year. The principal and interest shall be payable at the places designated in the bonds and coupons which may be the office of the county treasurer of the principal county, as defined in ORS 198.705. Except as otherwise provided by ORS 545.565 to 545.621, each of the bonds shall be in a denomination of not less than $100 or more than $1,000; shall be signed by the president and secretary; shall have the seal of the board of directors affixed to the bond; and shall bear on the back the registration certificate of the county treasurer, who shall sign as county treasurer and as ex officio treasurer of the district. Coupons for interest shall be attached to each bond and shall be signed with the engraved facsimile signature of the secretary.
(3) The county treasurer and the secretary of the district shall register the bonds in books kept in their offices for that purpose, and shall note in the books the number, date of issuance and sale, amount of bond, time of payment, rate of interest, number of coupons attached, and any other description proper for future identification of each bond. This section shall not be construed to require that any bond of the district must bear a registration certificate by the secretary.
(4) The total sum of bonds maturing in any one year, together with the interest due, shall not exceed the total of the maximum annual assessment for the retirement of the bonds and the payment of interest. Upon payment of the principal, the board of directors may call for payment and retire before maturity any bond issued in accordance with ORS 545.565 to 545.621. [Formerly 545.260]
Structure 2021 Oregon Revised Statutes
Volume : 15 - Water Resources, Agriculture and Food
Chapter 545 - Irrigation Districts
Section 545.002 - Definitions.
Section 545.007 - Voting rights.
Section 545.025 - Purposes of irrigation district; process for formation.
Section 545.033 - Naming and division of districts.
Section 545.043 - Qualifications of directors; terms of office; oath.
Section 545.079 - Recording of order including lands in district; effect of order; appeal.
Section 545.089 - Redivision of district; election of directors.
Section 545.091 - Inclusion of lands not subject to charges of district.
Section 545.093 - Creation of subdistricts; purpose; change in subdistrict boundaries.
Section 545.095 - Charges or assessments for improvements within subdistrict.
Section 545.113 - State agency to pay assessment and charges or to petition for exclusion.
Section 545.123 - Redivision of district; election of director.
Section 545.135 - Elections subsequent to organization of district; election of directors.
Section 545.139 - Board of election; polls; ballots.
Section 545.163 - Procedures for conducting election by mail.
Section 545.167 - Division of district for election of directors; procedure.
Section 545.169 - Election of directors from newly created divisions.
Section 545.188 - Filling vacancy in office of director.
Section 545.189 - Recall of director; procedure; required number of signatures for recall petition.
Section 545.221 - Powers and duties of board as to management of district; water deliveries.
Section 545.237 - Right to enter upon lands for inspection and maintenance of water works.
Section 545.239 - Right to enter upon and acquire lands and water rights; right of condemnation.
Section 545.275 - Lien on crops for water supplied for irrigation; enforcement; attorney fees.
Section 545.305 - Election concerning acquisition of water works.
Section 545.319 - Elections on question of constructing improvement; resolution of directors.
Section 545.359 - Contracts with federal government for flood control works.
Section 545.367 - Authorization of sale of property, excess water or hydroelectric power.
Section 545.373 - Proceeds of sale; special fund; uses of moneys.
Section 545.385 - Certain lands may be assessed at different amounts; additional service charge.
Section 545.391 - Assessments for contracts with United States.
Section 545.471 - Charges for water supply; rates; collections and disbursements; basis of charges.
Section 545.487 - Pressurization charge; application to certain lands; apportionment.
Section 545.494 - Unpaid charge as lien on land; priority respecting other liens and claims.
Section 545.502 - Foreclosure; procedure; redemption after sale; attorney fees.
Section 545.507 - Borrowing for payment of operation and maintenance costs.
Section 545.508 - Moneys collected; deposit; separation of funds; disbursements.
Section 545.513 - Resubmission of questions to electors; contracts not requiring vote.
Section 545.519 - Issuance of bonds; cancellation of bonds.
Section 545.539 - Bond sinking funds; other funds.
Section 545.541 - Retirement of bonds prior to maturity.
Section 545.555 - Holding election; notice.
Section 545.557 - Bonds; maturities; reserves; interest; trustees.
Section 545.571 - Notice of determination; publication; contents.
Section 545.575 - Order determining benefits; order of assessment; "benefit surplus" defined.
Section 545.577 - Notice of proceedings; appeal to circuit court; notice and summons.
Section 545.579 - Pleadings; trial; appeal; finality of assessment order.
Section 545.599 - Five-year additional assessment; emergency assessments; emergency fund.
Section 545.607 - Retirement of bonds before maturity.
Section 545.631 - Consent of creditors to refunding of indebtedness.
Section 545.637 - Hearing on petition; judgment; trustee.
Section 545.645 - Terms of contract; parties; execution.
Section 545.655 - Notice of petition and terms of contract; failure to file dissent; effect.
Section 545.659 - Hearing on petition; judgment; trustee.
Section 545.675 - Parties to contract; execution.
Section 545.685 - Establishing bank account for payment of labor and emergency expenses.