The proceeds from resale of any neighboring property taken in excess of what may be necessary for actual construction, opening, widening, extending and laying out of any public square, park or playground as provided in ORS 226.310 to 226.390 shall be deposited in the city treasury and used in payment of interest and as a sinking fund to retire any bond issues authorized under ORS 226.390. Any surplus arising from such transaction shall be turned over to and for the use of the park department of the city.
Section: Previous 226.230 226.240 226.310 226.320 226.330 226.340 226.350 226.360 226.370 226.380 226.390 226.400 226.410 226.420 226.430 NextLast modified: August 7, 2008