Oregon Statutes 381.220 – Contents of agreement
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Any agreement made or contract entered into pursuant to the authority of ORS § 381.205 to 381.314 shall, among other things, contain express provisions with respect to:
Terms Used In Oregon Statutes 381.220
- Contract: A legal written agreement that becomes binding when signed.
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
(1) The site of the bridges.
(2) The maximum financial obligation assumed by each of the contracting parties.
(3) The estimated cost of the structure with its approaches and connecting roads.
(4) The sources from which all the funds are to be obtained or derived.
(5) Whether the bridge is to be operated free to the public or as a toll bridge.
(6) Any other appropriate matter or provision consistent with the prudent principles of economy and good business.