Oregon Statutes - Chapter 198 - Special Districts Generally - Section 198.950 - Power of trustees to convey assets.

The board of trustees may convey to another district all assets of the dissolving district as described by ORS 198.930:

(1) If the other district assumes all debts and obligations of the dissolving district and undertakes to continue to furnish the service provided by the dissolving district pursuant to the plan of dissolution and liquidation; and

(2) If the consent of all the known holders of valid indebtedness against the district has been obtained, or provision has been made in the plan for payment of the nonassenting holders. [1971 c.727 §55]

Section:  Previous  198.915  198.920  198.925  198.930  198.935  198.940  198.945  198.950  198.955  198.973  198.974  198.975  198.976  198.977  198.978  Next

Last modified: August 7, 2008