(1) As provided by ORS § 287A.180, the board of a community college district may contract indebtedness by the issuance of short-term bonds for the purpose of meeting current expenses, retiring outstanding bonds or warrants, or paying the interest thereon.

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Terms Used In Oregon Statutes 341.715

  • 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
  • Contract: A legal written agreement that becomes binding when signed.
  • 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

(2) The board of the district in which indebtedness was incurred under this section shall levy an annual tax on all taxable property in the district sufficient to meet the interest payments and retire the indebtedness, but no tax shall be necessary where other provisions are made for payment of the indebtedness. [1971 c.513 § 53; 1983 c.124 § 10; 1985 c.356 § 5; 1993 c.97 § 26; 2007 c.783 § 139]

 

[1959 c.641 § 7; 1965 c.100 § 303; renumbered 341.035]

 

(Bonds Issued by State)

 

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