Oregon Code § 545.508·Enacted ·Last updated March 01, 2026
Statute Text
Moneys
collected; deposit; separation of funds; disbursements.
(1) Any irrigation district
collecting incurred charges as provided in ORS 545.482 to 545.508 shall deposit
all moneys collected in an insured institution, as defined in ORS 706.008,
selected by the board of directors. The amounts collected for operation and
maintenance, construction, bond principal, interest or other purposes shall be
kept in separate funds and accounted for separately.
(2) Moneys in the
funds shall be paid out only upon order of the board by:
(a) Checks or
drafts signed by at least two individuals authorized by the board to sign
checks or drafts; or
(b) Electronic
funds transfers authorized by the board and initiated by at least two
individuals authorized by the board.
(3) As used in
this section, electronic funds transfer has the meaning given that term in
ORS 293.525. [Amended by 1967 c.451 §24; 1991 c.459 §423n; 1995 c.42 §123; 2001
c.476 §10; 2005 c.492 §1]
BONDS; CONTRACTS WITH
STATE OR FEDERAL GOVERNMENT
(Authorization for
Bonds or Contracts)
Plain English Explanation
This Oregon statute addresses Moneys
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Key Points
01Part of Oregon statutory law
02Referenced as Oregon Code § 545.508
03Subject to legislative amendments
04Consult a licensed attorney for application to specific cases
Frequently Asked Questions
This section of Oregon law addresses Moneys
. Read the full statute text above for details.
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