Oregon Statutes 199.743 – Financial affairs of city-county if charter becomes effective during fiscal year
(1) Notwithstanding ORS § 294.305 to 294.565 and 310.010 to 310.110, if the charter for a city-county is approved under ORS § 199.740 (1) and the effective date of such charter is other than the date of the beginning of the fiscal year immediately following the fiscal year in progress on the effective date of such charter, during the remainder of the fiscal year in progress on the effective date of such charter the city-county shall expend moneys and levy taxes in accordance with the budgets prepared and adopted by each of the municipal corporations consolidated, merged or dissolved in the formation of the city-county pursuant to such charter, as if such charter had not taken effect. For the purposes of this section, the city-county shall be considered to be a continuation of each municipal corporation consolidated, merged or dissolved in the formation of the city-county.
Terms Used In Oregon Statutes 199.743
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
(2) As used in subsection (1) of this section:
(a) ‘Fiscal year’ has the meaning given that term in ORS § 294.311.
(b) ‘Municipal corporation’ has the meaning given that term in ORS § 294.311. [1973 c.745 § 9; 1997 c.308 § 32; 2017 c.26 § 6]