Oregon Statutes - Chapter 530 - State Forests; Community Forests - Section 530.160 - Refunding of bonds.

If the revenue bonds have not been redeemed within 50 years of the date of issue as provided in ORS 530.140, the State Board of Forestry shall cause to be sold refunding bonds in an amount sufficient to provide funds for the redemption of such unredeemed bonds as have been outstanding for 50 years, the proceeds of the sale of which refunding bonds shall be used solely for the purpose of calling and paying such bonds and coupons so refunded. The refunding bonds shall be of like tenor as those refunded, and shall be payable only from the moneys available for such purposes in the State Forestry Department Account. The bonds shall show by indorsement thereon that their legality has been approved by the Attorney General of Oregon. [Amended by 1957 c.83 §18]

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Last modified: August 7, 2008