Oregon Revised Statutes Chapter 454 § 454.245 — Serial
Oregon Revised Statutes Chapter 454 ·
Oregon Code § 454.245·Enacted ·Last updated March 01, 2026
Statute Text
Serial
bonds; term and content; interest; amount.
(1) The governing body of the municipality may
determine the maturities and tenor of the bonds issued under ORS 454.235.
However, the bonds shall be serial in character in accordance with present or
future provisions of law or the charter. They shall be payable in not to exceed
40 years from the date of issuance thereof, and shall be sold at a price to net
the municipality not less than the par value thereof with accrued interest.
They shall bear interest at not to exceed six percent per annum payable semiannually.
(2) The amount of
any bonds issued under ORS 454.205 to 454.255 shall not be within any
limitation of indebtedness fixed by law or charter, but shall be in addition
thereto. [1973 c.213 §§6,7]
Plain English Explanation
This Oregon statute addresses Serial
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Key Points
01Part of Oregon statutory law
02Referenced as Oregon Code § 454.245
03Subject to legislative amendments
04Consult a licensed attorney for application to specific cases
Frequently Asked Questions
This section of Oregon law addresses Serial
. Read the full statute text above for details.
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