Oregon Code § 478.855·Enacted ·Last updated March 01, 2026
Statute Text
Loan
fund created from bond proceeds; other sources for fund.
(1) Proceeds of revenue bonds
issued and sold under ORS 478.845 to 478.875 that are to be used to fund loans
to persons for acquisition and installation of fire safety systems in
structures owned by the borrowers shall be deposited in a loan fund created for
the purpose by a city or district.
(2) In addition
to proceeds from the sale of revenue bonds, the loan fund created by this
section shall consist of:
(a) Moneys repaid
to the fund by borrowers who received loans from the fund.
(b) Proceeds of
the sales of structures acquired by the city or district as a result of loan
defaults.
(c) Other
revenues, as defined in ORS 287A.001, as determined by the city or district. [1995
c.725 §7; 2007 c.783 §211]
Note:
See note under 478.840.
Plain English Explanation
This Oregon statute addresses Loan
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Key Points
01Part of Oregon statutory law
02Referenced as Oregon Code § 478.855
03Subject to legislative amendments
04Consult a licensed attorney for application to specific cases
Frequently Asked Questions
This section of Oregon law addresses Loan
. Read the full statute text above for details.
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