Oregon Revised Statutes Chapter 550 § 550.320 — Ad
Oregon Revised Statutes Chapter 550 ·
Oregon Code § 550.320·Enacted ·Last updated March 01, 2026
Statute Text
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valorem property taxes; Local Budget Law applicable.
(1)(a) The urban flood safety and
water quality district may annually impose, assess and collect a tax on all
taxable property located in the district in an amount sufficient to pay the
principal and interest due in the fiscal year on outstanding general obligation
bonds issued by the district.
(b) The tax
imposed pursuant to this subsection shall be applied only in payment of the
principal and interest due on bonds issued by the district. In addition, the
district may apply any otherwise unobligated district funds toward payment of
the principal and interest due on the bonds.
(2) The district
is a municipal corporation for purposes of ORS 294.305 to 294.565 and shall
file a written notice with the county assessor as required under ORS 310.060. [2019
c.621 §18]
Plain English Explanation
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Key Points
01Part of Oregon statutory law
02Referenced as Oregon Code § 550.320
03Subject to legislative amendments
04Consult a licensed attorney for application to specific cases
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