Oregon Statutes 553.655 – Bond elections in subdistricts
(1) Upon order of the board, an election shall be held in the subdistrict to determine whether bonds in any amount the board may deem necessary shall be issued for any purpose necessary or convenient in carrying out the provisions of this chapter, including the refunding of outstanding bonds.
Terms Used In Oregon Statutes 553.655
- Board: means the board of directors of a water control district created under the provisions of this chapter. See Oregon Statutes 553.010
- Record: means to file a document for recording with the county clerk of each county in which the lands within a district or subdistrict are located. See Oregon Statutes 553.010
(2) If a majority of the votes cast at the election approve the issuance of the bonds, the board shall cause bonds in that amount to be issued, or such portion thereof as may be necessary from time to time. If the majority of the votes cast disapprove issuance of the bonds, the result of the election shall be entered of record.
(3) Whenever thereafter the board in its judgment deems it for the best interest of the subdistrict that the question of the issuance of bonds in any amount shall be submitted to the electors, it shall so declare of record in its minutes, and may thereupon submit such questions to the electors in the same manner and with like effect as at the previous election. [1965 c.623 18,19; 1971 c.647 § 122]