Oregon Revised Statutes Water Resources: Irrigation, Drainage, Flood Control, Reclamation § 545.685

(1) The board of directors of an irrigation district may withdraw from any moneys deposited on behalf of the district an amount designated by the board and deposit it in an account with any insured institution, as defined in ORS 706.008, that is approved by the board to be maintained in the name of the district for the purposes set forth in subsection (2) of this section.

(2) The account established under this section shall be used for the payment of any claims arising out of labor and emergency expenses incurred by the district during any month. Moneys may be withdrawn from the account by:

(3) The expenditures made shall be ratified and audited by the board at each regular meeting.

(4) As used in this section, “electronic funds transfer” has the meaning given that term in ORS 293.525.