Oregon Statutes - Chapter 548 - Provisions Applicable Both to Drainage Districts and to Irrigation Districts - Section 548.710 - Bonds of district; use and delivery to creditors.

Whenever any irrigation or drainage district files its petition in bankruptcy pursuant to the provisions of the Act of Congress approved May 24, 1934, authorizing bankruptcy proceedings by municipalities and other political subdivisions of any state, the district may, for the purpose of carrying out any plan of readjustment of its indebtedness which has been submitted and approved in the bankruptcy proceeding, use and deliver to its creditors in such bankruptcy proceeding any of its bonds authorized or issued pursuant to the provisions of ORS 548.305 to 548.325, and which bonds are not required for the purpose of carrying into effect the provisions of the contract with the governmental agency of the United States for which they primarily were authorized.

Section:  Previous  548.650  548.655  548.660  548.665  548.670  548.675  548.705  548.710  548.715  548.810  548.900  548.905  548.910  548.915  548.920  Next

Last modified: August 7, 2008