Oregon Statutes - Chapter 328 - Local Financing of Education - Section 328.170 - Directors as fund commissioners.

The directors of School District No. 1 of Klamath County are appointed as a board of common school fund commissioners for the district to approve all applications for loans as to title and value of the security offered. The security shall be real property in Klamath County of at least double the value of the loan. The clerk of the district shall make no loan or release any security without prior board approval.

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Last modified: August 7, 2008