Oregon Revised Statutes Chapter 198 § 198.935 — Election on dissolution; consent of creditors; content of notice

Election on dissolution; consent of creditors; content of notice. (1) When the district to be dissolved is within the jurisdiction of a local government boundary commission, within 10 days after the district board files the plan of dissolution and liquidation required by ORS 198.925, the district board shall file the documents initiating dissolution with the boundary commission in accordance with ORS 199.476. (2) Within 10 days after the district board files the plan of dissolution and liquidation required by ORS 198.925, and following boundary commission approval if necessary, the district board shall call an election for the purpose of submitting to the electors of the district the question of whether the district shall be dissolved, its indebtedness liquidated and its assets disposed of in accordance with the plan proposed. The election shall be held on the next available election date in ORS 255.345 for which the filing deadline can be met. No election shall be called until the assent of all known holders of valid indebtedness against the district is obtained or provision is made in the plan for payment of the nonassenting holders. The notice of the election shall contain a brief summary of the plan of dissolution and liquidation and state that the plan of dissolution is available for examination at the office of the county clerk. [1971 c.727 §52; 1979 c.316 §8; 1983 c.336 §25; 1987 c.707 §3; 1989 c.923 §5]