Oregon Statutes 341.693 – Payment of bond principal and interest
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(1) The paying agent and registrar must cause to be paid out of any money in the hands of the paying agent and registrar belonging to the community college district, the interest on or principal of, as the case may be, any bond issued by the district promptly when and as the same becomes due at the place of payment designated in such coupons or bonds. All coupons or bonds so paid must be immediately reported to the board of the district.
Terms Used In Oregon Statutes 341.693
- Board: means the board of education of a community college district. 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
(2) The paying agent and registrar shall not be required to remit to the purchaser of any bonds or coupons the amount necessary to redeem them until the day such bonds or coupons are due. [1971 c.513 § 46; 1995 c.67 § 34]