(1) A corporation organized pursuant to ORS 554.005 to 554.340 may obligate itself by written contract to utilize the corporation’s delivery system to deliver water for any beneficial use authorized under Oregon law on lands not described in its articles of incorporation if its board of directors by resolution determines that such action does not impair the corporation’s ability to service the lands described in its articles of incorporation. In furtherance of such arrangement the corporation may:
(a) Adopt plans and specifications pursuant to ORS 554.210 for the construction of works and improvements on lands described in its articles of incorporation or on lands not described therein and thereafter to construct the same; and
(b) Pursuant to ORS 554.260, jointly acquire, control and manage any works, improvements, easement or right of way necessary to fulfill its contractual obligations and bind itself for the maintenance, support and operation of the whole or any part thereof.
(2) The delivery of water, the collection of charges for such delivery and the ownership of property pursuant to this section shall not subject the corporation’s income and property, wherever located, to taxation if its property and income are otherwise exempt pursuant to ORS 554.320. [1979 c.180 §2; 1999 c.591 §1]
Section: Previous 554.307 554.309 554.310 554.315 554.320 554.330 554.340 554.350 554.375 554.380 554.385 554.390 554.410 554.420 554.430 NextLast modified: August 7, 2008