Oregon Statutes 341.685 – Registration of bonds; disposition of proceeds
(1) The paying agent and registrar, appointed in accordance with ORS § 287A.300 (1) to (3), shall register each community college district bond, including refunding bonds, in a record maintained for that purpose in the office of the paying agent and registrar, noting the community college district, amount, date, time and place of payment, rate of interest and such other facts as the paying agent and registrar may consider proper. The paying agent and registrar shall cause the bonds to be delivered promptly to the purchasers thereof upon payment therefor, and if the place of delivery is outside the city in which the paying agent and registrar’s office is situated, the cost of delivery of the bonds shall be paid by the issuing district.
Terms Used In Oregon Statutes 341.685
- Board: means the board of education of a community college district. See Oregon Statutes 341.005
- City: includes any incorporated village or town. See Oregon Statutes 174.100
- community college: means a public institution operated by a community college district for the purposes of providing courses of study limited to not more than two years' full-time attendance and designed to meet the needs of a geographical area by providing educational services, including but not limited to career and technical education programs or lower division collegiate programs. See Oregon Statutes 341.005
- Community college district: includes a community college service district. See Oregon Statutes 341.005
- district: means a district formed under this chapter to operate one or more community colleges or to secure educational services available at a community college. See Oregon Statutes 341.005
- Paying agent and registrar: means the county treasurer or county fiscal officer of the county in which the chief administrative officer of the community college district maintains the administrative office. See Oregon Statutes 341.005
- Person: includes individuals, corporations, associations, firms, partnerships, limited liability companies and joint stock companies. See Oregon Statutes 174.100
(2) The paying agent and registrar shall hold the proceeds of the sale of all bonds for the community college district subject to the order of the board of the district to be used solely for the purpose for which the bonds were issued. The paying agent and registrar is authorized to deliver the proceeds of the sale of the bonds to the person designated as custodian of the community college district funds under ORS § 341.703.
(3) When the bonds have been so executed, registered and delivered, their legality shall not be open to contest by the community college district, or by any person for or on its behalf, for any reason whatever. [1971 c.513 § 44; 1995 c.67 § 32; 2007 c.783 § 136]