US Lawyer Database

Section 450.971 – Employee contribution.

The authority may collect, as a contribution from any employee, that percentage of the salary received by the employee which is necessary to fund on an actuarial reserve basis the cost of retirement benefits which the employee is required to provide pursuant to the provisions of the retirement plan. [1973 c.399 §12]

Section 450.973 – Eligibility for retirement plan.

Nothing in ORS 450.947 to 450.977 authorizes the authority to budget, provide for payments or collect contributions to fund retirement benefits for an individual who is not in the employment of the authority at the time of the creation of a membership status under a retirement plan. [1973 c.399 §13]

Section 450.897 – Bancroft Bonding Act applicable.

Sanitary authorities organized under ORS chapter 450 that are in existence on November 1, 1981, or thereafter, are authorized to use the bonding provisions of ORS 223.205 to 223.316. [1981 c.351 §1; 1991 c.902 §113; 1997 c.249 §151] Note: 450.897 was enacted into law by the Legislative Assembly but was not added to or made […]

Section 450.900 – Election on bond issues; limitation on indebtedness.

(1) Before issuing any bonds under ORS 450.895, the board at a regular meeting shall call an election and submit to the electors of the authority the question whether bonds of the authority, either general obligation, revenue, or a combination of both, shall be issued and sold to raise money for the construction of sewage […]

Section 450.905 – Notice of bond election.

Notice of a bond election shall contain: (1) The information required by ORS 255.085 (2). (2) If general obligation bonds, which are to be paid by particular areas in the authority, are to be issued, a statement that the bonds will be the general obligation of the entire authority but will be the primary obligation […]

Section 450.915 – Issuance of bonds.

If, at the bond election, a majority of the votes cast is in favor of the issuance of bonds, the board may issue the bonds as prescribed in ORS chapter 287A. [1955 c.614 §45; 1969 c.694 §11; 1975 c.642 §24; 1977 c.188 §4; 1981 c.526 §6; 2001 c.215 §10; 2007 c.783 §188]