(1) The governing body of each county with a population of 500,000 or more inhabitants, based on the most recently available data published or officially provided by the Portland State University Population Research Center, shall elect to:
(a) Seek to establish a tax supervising and conservation commission under ORS 294.710; or
(b) Require each municipal corporation to submit to the county a copy of the financial summary prepared under ORS 294.386 and made available to the public under ORS 294.401 (9).
(2) Each municipal corporation required to submit a copy of the financial summary of the municipal corporation shall comply with the requirement prior to the date of the first budget committee meeting of the municipal corporation under ORS 294.401.
(3) The copy of the financial summary submitted to the county under this section shall be in an electronic format that is compatible with Internet publication. The county shall publish all financial summaries received from municipal corporations under this section on the Internet website of the county. [2005 c.750 §7]
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