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Oregon Revised Statutes Highways, Roads, Bridges and Ferries § 367.640

Current as of January 01, 2023 | Updated by Findlaw Staff

An indenture under which bonds described under ORS 367.615 are issued may provide for any or all of the following:

(1) The pledging of moneys or a portion of moneys described under ORS 367.605 to the payment of the bond debt service on bonds issued under ORS 367.615.

(2) Requirements concerning particular issues of bonds under ORS 367.615.

(3) Requirements concerning moneys described under ORS 367.605 and payment on outstanding bonds issued under ORS 367.615.

(4) A contractual undertaking for the benefit of bondholders concerning assessment, levy collection and deposit of moneys described under ORS 367.605.

(5) Provisions concerning the registration of bonds or recording or filing of the indenture.

(6) Provisions relating to a reserve account under ORS 367.645. Provisions under this subsection may include, but are not limited to, the amount required for such account or provisions for replenishing the account from moneys described under ORS 367.605.

(7) Provisions concerning trustees under ORS 367.650 including, but not limited to:

(a) Establishing funds, accounts or moneys described under ORS 367.605 over which the trustee will be custodian.

(b) Providing that a trustee will be appointed.

(8) Establishing the maturation date for the bonds, subject to ORS 367.635.

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Cite this article: FindLaw.com - Oregon Revised Statutes Highways, Roads, Bridges and Ferries § 367.640 - last updated January 01, 2023 | https://codes.findlaw.com/or/title-31-highways-roads-bridges-and-ferries/or-rev-st-sect-367-640/

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