Chapter 454 — Sewage Treatment and Disposal Systems
ORS 454.245 Serial bonds; term and content; interest; amount
The governing body of the municipality may determine the maturities and tenor of the bonds issued under ORS 454.235. However, the bonds shall be serial in character in accordance with present or future provisions of law or the charter. They shall be payable in not to exceed 40 years from the date of issuance thereof, and shall be sold at a price to net the municipality not less than the par value thereof with accrued interest. They shall bear interest at not to exceed six percent per annum payable semiannually.
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2025 Oregon Revised Statutes — official online source
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Earlier statutory text is available in an ingested published ORS edition.
2025 Oregon Revised Statutes — official online source · active · operative text
Official source2023 Oregon Revised Statutes · active · operative text
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