The bonds listed in ORS 294.035 (3)(a) to (c) may be purchased only if there has been no default in payment of either the principal of or the interest on the obligations of the issuing county, port, school district or city, for a period of five years next preceding the date of the investment.
ORS 294.040
Known as the Local Budget Law
The act spans §§ 294–294 (240 sections).
Amended by 1995 c.245 §3; 2005 c.443 §21
Official source: Oregon State Legislature. Reproduced from public-domain Oregon statutes; confirm against the official source for the current text. Not legal advice.