Oregon Statutes - Chapter 553 - Water Control Districts - Section 553.550 - Loans; assignment of assessments as security for.

A district may borrow money and secure repayment of the same by the assignment of any assessments theretofore levied. Whenever a levied assessment is assigned to secure the repayment of any sum of money borrowed, the assessment shall be paid to the assignee thereof or the agent of the assignee.

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Last modified: August 7, 2008