(b) The tax imposed pursuant to this subsection shall be applied only in payment of the principal and interest due on bonds issued by the district. In addition, the district may apply any otherwise unobligated district funds toward payment of the principal and interest due on the bonds.
(2) The district is a municipal corporation for purposes of ORS 294.305 to 294.565 and shall file a written notice with the county assessor as required under ORS 310.060. [2019 c.621 ยง18]
Structure 2021 Oregon Revised Statutes
Volume : 15 - Water Resources, Agriculture and Food
Chapter 550 - Urban Flood Safety and Water Quality District
Section 550.160 - Definitions.
Section 550.180 - Proceedings to test validity of district board order or act.
Section 550.190 - Board of directors; selection; terms.
Section 550.200 - Organizational meeting; oath; officers; meetings.
Section 550.210 - Duties of district board.
Section 550.230 - General powers of district.
Section 550.240 - Eminent domain.
Section 550.270 - District works.
Section 550.290 - Construction on public land or right of way or along public watercourse.
Section 550.300 - Financing construction, operation or maintenance of district works.
Section 550.320 - Ad valorem property taxes; Local Budget Law applicable.
Section 550.330 - Service and user charges for district works; collection agreements; revenue bonds.
Section 550.340 - General obligation bonds.
Section 550.370 - Notice requirements.
Section 550.380 - Election laws applicable.