(2) Except as provided by this section, dissolution, liquidation and transfer proceedings shall be conducted as provided by ORS 198.920 to 198.955.
(3) When a petition is filed or a resolution is adopted initiating dissolution proceedings, the governing board of the dissolving district and the district board of the water improvement district shall meet with each other to agree on a debt distribution plan to be voted upon as a part of the proposal. The debt distribution plan may provide for any distribution of indebtedness between the water improvement district and the dissolving district. If the boards do not agree on a debt distribution plan or if the area within the dissolving district remains liable under the plan for any portion of the indebtedness outstanding at the time of the dissolution and transfer, the district board of the water improvement district shall be ex officio board of the dissolved district for the purpose of levying taxes or collecting charges in such area until the bonded and other indebtedness of the dissolved district is paid.
(4) The consent of all the known holders of valid indebtedness against the dissolving district shall be obtained or provision made in the debt distribution plan for the payment of the nonassenting holders. The area within the boundaries of the dissolving district shall not by reason of the dissolution and transfer be relieved from liabilities and indebtedness previously contracted by the dissolving district.
(5) If the dissolution is approved at an election in accordance with the law applicable to the dissolving district, the governing body of the dissolving district shall convey to the water improvement district all assets of the dissolving district after paying and discharging the debts and obligations to, or procuring releases from the nonassenting holders, in accordance with the debt distribution plan. [1969 c.606 §13; 1971 c.727 §167; 1991 c.459 §430b]
Structure 2021 Oregon Revised Statutes
Volume : 15 - Water Resources, Agriculture and Food
Chapter 552 - Water Improvement Districts
Section 552.013 - Definitions.
Section 552.108 - Creation of water improvement district; purposes; limitation.
Section 552.118 - Petition contents.
Section 552.138 - Status of final order; time for protest.
Section 552.143 - Proceedings to test validity of order or act of district board.
Section 552.218 - Organizational meeting; oath; officers; meetings.
Section 552.223 - Duties of district board.
Section 552.305 - Powers of districts generally.
Section 552.320 - Operation of water works and sale of water; conditions.
Section 552.325 - Water charges; use of revenues; collection and enforcement.
Section 552.345 - User regulations; fees for use of facilities.
Section 552.403 - Watershed improvement plans; cooperation with Water Resources Commission.
Section 552.438 - Construction on public land or right of way, or along watercourse.
Section 552.603 - Financing construction, operation or maintenance of district works.
Section 552.623 - Ad valorem tax levy, collection, enforcement.
Section 552.625 - Maximum rate of tax levy; procedure to change rate.
Section 552.630 - Service and user charges.
Section 552.645 - General obligation bonds.
Section 552.670 - Loan contracts with state or federal agencies.