Oregon Statutes - Chapter 208 - County Treasurers - Section 208.020 - Payment, nonpayment and interest on county orders.

The county treasurer shall pay all orders of the county clerk when presented, if there is money in the treasury for that purpose, and write on the face of such orders the date of redemption and the signature of the county treasurer. If there are no funds to pay an order when presented, the county treasurer shall indorse thereon “Not paid for want of funds,” and the date of presentment, over the signature of the county treasurer, which shall entitle such order thenceforth to draw legal interest; provided, the county court of any county, sitting for the transaction of county business, may, at any regular term thereof, by order duly made and entered of record, prescribe a rate of interest less than the legal rate, and after a rate of interest less than the legal rate is so prescribed, all orders of the county clerk issued while such orders remain unrevoked shall show upon their face the rate of interest so fixed by the court, which rate they shall bear. Such interest shall cease from the date of notice by publication in some newspaper circulated in the county, to be given by the county treasurer, when the county treasurer has as much as $15,000 belonging to the county fund, that there are funds to redeem the outstanding orders.

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Last modified: August 7, 2008