Oregon Statutes 223.750 – Enactment of rulemaking ordinances; effect of irregularities
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(1) Each local government, through its governing body, may provide, by such ordinances, rules and regulations as may be needed, for accepting rebonding applications, issuing bonds and otherwise carrying out the terms of ORS § 223.705 to 223.750; and may, by such ordinance and in conformity with ORS § 223.715, determine the interest rate to be charged property owners who apply to rebond liens as provided by those sections.
Terms Used In Oregon Statutes 223.750
- Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. Source: OCC
- Lien: A claim against real or personal property in satisfaction of a debt.
- local government: means all cities, counties and local service districts located in this state, and all administrative subdivisions of those cities, counties and local service districts. See Oregon Statutes 174.116
(2) No error or omission in rebonding liens shall invalidate or impair the original bonded lien. [Amended by 1991 c.902 § 84; 2003 c.802 § 58]