In addition to any other powers granted by law, a city or district may:
(1) Make all contracts, execute all instruments and do all things necessary or convenient for the exercise of the powers granted by ORS 478.845 to 478.875, or for the performance of its covenants or duties, or in order to secure the payment of its bonds;
(2) Enter into and perform such contracts and agreements with borrowers as the city or district considers proper and feasible for or concerning the financing and installation of fire safety systems;
(3) Enter into covenants for the benefit of bond owners regarding the use and expenditure of moneys in the loan fund created by ORS 478.855; and
(4) Establish a reserve fund or account for the benefit of bond owners and provide that the reserve fund or account may be funded with bond proceeds, from moneys held in the general fund, an enterprise fund or other fund of the city or district or from such other revenues or sources as the governing body of the city or district may determine. [1995 c.725 §6]
Note: See note under 478.840.
Section: Previous 478.830 478.840 478.845 478.850 478.855 478.860 478.865 478.870 478.875 478.880 478.885 478.910 478.920 478.924 478.927 NextLast modified: August 7, 2008