Section 545.643 – Contract providing plan of liquidation; resolution; investigation by and approval of Water Resources Commission.
An irrigation district desiring to become a party to any contract providing a plan for the liquidation in any manner of all or part of its outstanding bonded or other indebtedness, whether then due or not due, may adopt the procedure provided by ORS 545.643 to 545.667. The procedure provided by ORS 545.643 to 545.667 […]
Section 545.645 – Terms of contract; parties; execution.
(1) Notwithstanding any other statute expressly or impliedly limiting the powers of the parties named in this section to enter into a contract, a contract under ORS 545.643 to 545.667 may provide a plan for liquidation of any indebtedness by the district to which the parties may agree. The contract may provide for terms of […]
Section 545.647 – Recording of contract; effective date; preeminence of contract with respect to rights and liabilities.
Upon the execution and delivery of the contract, the board of directors shall cause it to be recorded in the records of mortgages in the counties in which any part of the lands covered by the contract are located. Upon recordation, the contract shall become effective in accordance with its terms as of the effective […]
Section 545.649 – New contract in lieu of previous contract.
After the execution, delivery and recording of a contract as described and authorized in ORS 545.645 and 545.647, the irrigation district and all other parties to the contract, their successors, heirs, executors, administrators and assigns, may become parties to a new contract in lieu of the contract then in effect. A new contract shall be […]
Section 545.651 – Constructive consent of holders of outstanding indebtedness; procedure for obtaining consent; petition.
(1) For the purpose of obtaining constructive consent of the unknown owners or holders of the bonds or other evidences of indebtedness, who have not either personally or through a protective committee become party to the contract executed in accordance with ORS 545.643 to 545.667, the board of directors shall file a petition in rem […]
Section 545.655 – Notice of petition and terms of contract; failure to file dissent; effect.
(1) Upon presentation of the petition to the court, the court shall authorize the district to publish a notice describing in substance the terms and conditions of the contract. The district shall cause the notice to be published, for at least four consecutive weeks in three newspapers published within Oregon and designated by the court. […]
Section 545.659 – Hearing on petition; judgment; trustee.
(1) After 90 days from the date of the first publication of the notice, the district shall file in the proceeding in the circuit court its verified return of its acts made under the order of the court. The district shall attach affidavits of the publication of the notice in three newspapers. After the district […]
Section 545.663 – Nature of proceeding; appeal; nonprejudicial errors; costs.
The procedure in the circuit court under ORS 545.651, 545.655 and 545.659 shall be in the nature of an equitable proceeding in rem. Any owner or holder of evidences of indebtedness affected by the court proceeding or any other interested party may appeal to the Court of Appeals at any time within 30 days after […]
Section 545.667 – State Treasurer as depository.
The State Treasurer may act as depository for any purposes under ORS 545.643 to 545.667. All warrants, bonds or other evidences of indebtedness may be deposited with the State Treasurer for safekeeping. [Formerly 545.332]