(1) In carrying out the powers conferred by ORS § 403.500 to 403.542, a radio and data district may contract with the United States or any agency thereof for the acquisition, construction, reconstruction, maintenance and operation, or any of them, of radio and data equipment and facilities or other property for use by the district.

Terms Used In Oregon Statutes 403.542

  • Contract: A legal written agreement that becomes binding when signed.
  • United States: includes territories, outlying possessions and the District of Columbia. See Oregon Statutes 174.100

(2) Contract provisions for repayment of any loan from the United States, and the bonds securing the payment of the loan, if any are issued, may be of any term or denomination not exceeding 50 years and may call for the payment of interest not exceeding seven percent per annum, may provide for installments and for repayment of the principal at such times as may be required by federal law or as may be agreed upon between the district board and the United States agency. [2009 c.584 § 18]

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