Oregon Code § 545.675·Enacted ·Last updated March 01, 2026
Statute Text
Parties to contract; execution.
(1) All parties described in this section are authorized to become party to,
sign, seal, execute and deliver a contract agreed upon under ORS 545.671 to
545.679. The parties shall include:
(a) The
irrigation district; and
(b) The owners or
holders of at least 66-2/3 percent in amount of the then outstanding bonds or
other evidences of indebtedness of the district, the liquidation of which is
the purpose of the contract. The owners or holders jointly may become party to
the contract through the agency of a protective or bondholders committee
selected for that purpose by the owners or holders of outstanding bonds or
other evidences of indebtedness.
(2) The contract
shall be executed by all parties with such formalities as will entitle it to be
recorded. [Formerly 545.356]
Plain English Explanation
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Key Points
01Part of Oregon statutory law
02Referenced as Oregon Code § 545.675
03Subject to legislative amendments
04Consult a licensed attorney for application to specific cases
Frequently Asked Questions
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