The city governing body may determine the maturities and tenor of bonds issued under ORS 225.360. However, the bonds shall be serial in character and in accordance with any provisions of law or charter. The bonds shall:
(1) Be payable in not to exceed 30 years from the date of issuance thereof.
(2) Be sold at a price to net the city not less than the par value thereof with accrued interest.
(3) Bear interest at not to exceed six percent per annum. [Amended by 2005 c.22 §170]
Section: Previous 225.300 225.310 225.320 225.330 225.340 225.350 225.360 225.370 225.380 225.390 225.400 225.450 225.460 225.470 225.480 NextLast modified: August 7, 2008