The county court shall, at the time of making the annual tax levy upon the previous year’s assessment, levy a tax on all the taxable property in the county sufficient to pay the outstanding bonds at maturity and the interest on all outstanding bonds for the current year. The proceeds derived from the tax shall be used only for the payment of the principal and interest of the bonds. Such proceeds shall be paid by the county treasurer to the bearer of the bonds or sent to the fiscal agency at New York City for the payment of the interest coupons upon presentation as provided in ORS 381.500.
Section: Previous 381.485 381.490 381.495 381.500 381.505 381.510 381.515 381.520 381.605 381.610 381.611 381.615 381.620 381.625 381.630 NextLast modified: August 7, 2008