An irrigation district that levies any tolls or charges in accordance with this section, ORS § 545.473, 545.475 and 545.479 for the purpose of retiring operation and maintenance warrants shall collect the charges in the same manner as the annual tolls and charges for operation and maintenance are collected, except that the district shall accept warrants of the district in payment of assessments made for the purpose of retiring warrants. Upon the receipt of any moneys levied for the purpose of retiring warrants, the secretary of the board shall immediately pay the moneys to the treasurer of the district, who shall place such moneys in an operation and maintenance fund. [Formerly 545.546]

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