ORS 381.500 Terms and conditions of bonds

The bonds mentioned in ORS 381.420 shall:

Be in denominations of $100 or more, but not exceeding $1,000.

Run not to exceed 30 years from the date of issuance.

Bear interest at a rate not to exceed six percent per year, payable on January 1 and July 1.

Have interest coupons attached to them, one coupon for each interest payment that will be made.

Be signed by the judge of the county court or chairperson of the board of county commissioners and the county clerk. The interest coupons shall bear the printed facsimile signatures of the county judge or chairperson of the board of county commissioners and the county clerk.

Be sealed with the seal of the county.

Bear the certificate of the county treasurer over the signature of the county treasurer that they have been registered in the office of the county treasurer, naming the date of register.

The bonds and interest coupons shall:

Be lithographed or printed on good bond paper.

Be made payable to bearer, in any coin or currency which, at the time of payment, is legal tender for the payment of public and private debts within the United States.

Be paid by the county treasurer upon presentation at the office of the county treasurer or at the fiscal agency of the state in New York City, upon the date of payment named thereon.