Oregon Revised Statutes

Or. Rev. Stat. § 223.245 (2026)

Budget to include bond payments

✓ current as of May 2026

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223.245 Budget to include bond payments. The interest on the bonds and the amounts of the installments of maturing bonds shall be included in the annual budget of the issuing local government. There shall be deducted in the budget the amount that the governing body conservatively estimates will be received from payments of the principal of and interest on installments of final assessments appertaining to the particular bond issue, and from receipts from sales and rentals of property acquired by the local government pursuant to the assessments, during the fiscal year. [Amended by 1983 c.349 §3; 1991 c.902 §15; 2003 c.802 §9]

223.250 [Amended by 1971 c.183 §1; 1975 c.642 §4; 1981 c.94 §11; 1983 c.349 §4; repealed by 1991 c.902 §121]

223.255 [Amended by 1957 c.103 §8; 1967 c.239 §2; 1983 c.349 §5; repealed by 1991 c.902 §121]

Notes of Decisions

Cited in 2 cases, 1977–1979 · leading case: Bashaw v. Bear Creek Valley Sanitary Auth., 7 Or. Tax 196 (Or. T.C. 1977).

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Bashaw v. Bear Creek Valley Sanitary Auth., 7 Or. Tax 196 (Or. T.C. 1977). “Again, ORS 223.245, in the Bancroft Bonding Act, sets up a policy of equal payments, "as nearly as practicable,” but specifies that interest on the bonds and amounts of installments of maturing bonds shall *201 "be deducted in the [annual] budget,” under a conservative estimate,…”

Bashaw v. Bear Creek Valley Sanitary Auth., 597 P.2d 822 (Or. 1979). · cites it 3× “ORS 223.245 provides that "the combined annual instalments of principal of and interest on the bonds shall be, as nearly as practicable, in such sums as will permit of a substantially uniform annual tax levy for the retirement of the principal of and the payment of the interest…”

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