(1) Subject to ORS § 451.575, upon the effective date of the formation of a district, of an annexation of territory to a district or of an order that adds drainage works to the authority of a service district, a special district lying within the district shall be extinguished and dissolved and the district shall succeed to all the assets and become charged with all the liabilities, obligations and functions of the special district.

Terms Used In Oregon Statutes 451.577

  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.

(2) Subsection (1) of this section applies:

(a) If the entire area of a special district is incorporated in or annexed to a district; and

(b) If the district has the authority to provide the same service as the special district. [1965 c.475 § 3; 1969 c.646 § 14; 1973 c.785 § 27; 1989 c.374 § 8]

 

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