328.205 Power
to contract bonded indebtedness; use of proceeds to pay expenses of issue. (1) Common and union high school
districts may contract a bonded indebtedness for any one or more of the
following purposes for the district:
(a) To acquire,
construct, reconstruct, improve, repair, equip or furnish a school building or
school buildings or additions thereto;
(b) To fund or
refund the removal or containment of asbestos substances in school buildings
and for repairs made necessary by such removal or containment;
(c) To acquire or
to improve all property, real and personal, to be used for district purposes,
including school buses;
(d) To fund or
refund outstanding indebtedness; and
(e) To provide
for the payment of the debt.
(2) However, when
a common or union high school district is found under ORS 327.158 not to be a
standard school or when a school district is operating a conditionally standard
school under ORS 327.158 (3), the school district may contract a bonded indebtedness
only for the purposes enumerated in subsection (1) of this section that are
approved by the Superintendent of Public Instruction pursuant to rules of the
State Board of Education.
(3) The school
district may use the proceeds received from the sale of school district bonds
to pay for any costs incurred by the school district in authorizing, issuing,
carrying or repaying the bonds, including, but not limited to, attorney,
consultant, paying agent, trustee or other professional fees and the cost of
publishing notices of bond elections, printing such bonds and advertising such
bonds for sale. [Amended by 1957 c.658 §1; 1959 c.447 §1; 1965 c.100 §49; 1971
c.513 §61; 1989 c.138 §1; 1989 c.491 §13; 2001 c.169 §4; 2003 c.195 §24]
Notes of Decisions
Morgan v. Sisters Sch. Dist. 6, 301 P.3d 419 (Or. 2013).
· cites it 2× “Plaintiff alleged that the obligations that had been denominated “certificates of participation” actually were bonds, which, under ORS 328.205 to 328.230, may be issued only after approval by a majority of the electors in the school district.”
Sch. Dist. No. 17 v. Powell, 279 P.2d 492 (Or. 1955).
· cites it 4× ““(1) To provide funds for the purposes enumerated in ORS 328.205, any district school board may, whenever a majority thereof so decide, or shall, upon the petition of 10 legal voters thereof, in substantially the form contained in subsection (2) of this section, direct the…”
Sch. Bd. of Sch. Dist. No. U2-20 JT. v. Fanning, 377 P.2d 4 (Or. 1962).
· cites it 3× “The only issue on appeal is whether ORS 328.205 (1), which authorizes school districts to issue bonds for the construction of school buildings, is to be interpreted as authorizing the issuance of bonds for the construction of an enclosed swimming pool.”
Morgan v. Sisters Sch. Dist. 6, 251 P.3d 207 (Or. Ct. App. 2011).
· cites it 2× “In fact, the complaint alleges, the obligations are “bonds” authorized (and constrained) under the more specific provisions of “ORS 328.205 et seq.” Those statutes authorize school districts to issue bonds for, among other things, capital improvements, but only, according to…”
Great Am. Ins. Co. of New York v. Jackson Cnty. Sch. Dist. No. 9, 478 F. Supp. 2d 1227 (D. Or. 2007).
· cites it 2× “The School District also may purchase real property on a contractual basis if the time for payment does not exceed 30 years. ORS § 332.155(9). And the School District may contract a bonded indebtedness to construct a school building, and use the proceeds to pay for the costs…”
— Or. Rev. Stat. § 328.205(1) — 1 case
Great Am. Ins. Co. of New York v. Jackson Cnty. Sch. Dist. No. 9, 478 F. Supp. 2d 1227 (D. Or. 2007).
“The School District also may purchase real property on a contractual basis if the time for payment does not exceed 30 years. ORS § 332.155(9). And the School District may contract a bonded indebtedness to construct a school building, and use the proceeds to pay for the costs…”
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