The municipal authorities may issue bonds for the costs and expenses of acquiring the private property for any of the purposes mentioned in ORS § 226.320 to 226.380. The bonds shall be at such rate of interest and for such length of time as the municipal authorities determine, shall be advertised and sold in such manner as the municipal authorities determine and shall be a general obligation of the city. The municipal authorities shall, at the time of issuing the bonds, make provisions for the payment of interest and a sinking fund for the retirement thereof.

Terms Used In Oregon Statutes 226.390

  • City: includes any incorporated village or town. See Oregon Statutes 174.100
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.

 

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