Chapter 478 — Rural Fire Protection Districts
ORS 478.870 Powers granted to enforce loan contracts and secure payment of bonds; reserve fund
In addition to any other powers granted by law, a city or district may:
Enter into and perform such contracts and agreements with borrowers as the city or district considers proper and feasible for or concerning the financing and installation of fire safety systems;
Enter into covenants for the benefit of bond owners regarding the use and expenditure of moneys in the loan fund created by ORS 478.855; and
Establish a reserve fund or account for the benefit of bond owners and provide that the reserve fund or account may be funded with bond proceeds, from moneys held in the general fund, an enterprise fund or other fund of the city or district or from such other revenues or sources as the governing body of the city or district may determine.
Note: See note under 478.840.
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Provenance
2025 Oregon Revised Statutes — official online source
Official online edition
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- oregonlegislature.gov
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Version history
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
Official source