Or. Rev. Stat. » Oregon Revised Statutes

Or. Rev. Stat. § 328.205

Power to contract bonded indebtedness; use of proceeds to pay expenses of issue

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      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
Cited in 5 cases, 1955–2013 · leading case: Morgan v. Sisters School District 6
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Morgan v. Sisters School District 6 (2013) or · 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.”
School District No. 17 v. Powell (1955) or · 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…”
School Board of School District No. U2-20 JT. v. Fanning (1962) or · 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 School District 6 (2011) orctapp · 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 American Insurance Co. of New York v. Jackson County School District No. 9 (2007) ord · cites it 2× “…building, and use the proceeds to pay for the costs incurred in authorizing, issuing, carrying or repaying the bonds. ORS § 328.205(1) & (3). In Martin v. City of Tigard, <a href="/opinion/835938/martin-v-city-of-tigard/" aria-description="Citation for case: Martin v.”
— Or. Rev. Stat. § 328.205(1) — 1 case
Great American Insurance Co. of New York v. Jackson County School District No. 9 (2007) ord “…building, and use the proceeds to pay for the costs incurred in authorizing, issuing, carrying or repaying the bonds. ORS § 328.205(1) & (3). In Martin v. City of Tigard, <a href="/opinion/835938/martin-v-city-of-tigard/" aria-description="Citation for case: Martin v.”
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