2021 Oregon Revised Statutes
Chapter 548 - Provisions Applicable Both to Drainage Districts and to Irrigation Districts
Section 548.305 - Contracts for federal loans; purposes for which authorized; amount of loan.

(a) For the refunding of any or all of its outstanding indebtedness;
(b) For the refunding of any state, county and municipal ad valorem taxes or special assessments levied by such district; and
(c) For the financing of any improvement or supplemental works which may be needed to reclaim lands in the district or for maintenance or operation, and for the payment or repayment thereof, upon such terms or conditions as may be agreed upon in the contract.
(2) In no case shall the total of any loan made by such governmental agency exceed in the aggregate the total amount of the outstanding indebtedness of such district so refunded, but this limitation shall not apply to any loan or any part of any loan which may be made by such governmental agency for any purpose herein provided other than refunding such outstanding indebtedness.

Structure 2021 Oregon Revised Statutes