ORS 224.410
Authority to appoint receiver and withhold moneys from state sources on default


If any municipality fails to meet, when due, any obligation sold to the state under authority of ORS 224.310 (Definitions for ORS 224.310 to 224.420) to 224.420 (Duty of local treasurer to keep funds separate and withhold bond payments), the State Treasurer, with the approval of the circuit court of the county in which the major portion of the assessed valuation of the municipality is located, may appoint a receiver to operate the system. The receiver shall act in the capacity of receiver so long as the circuit court deems receivership necessary to protect the interests of the state and of the municipality. In order to insure prompt payment of interest or principal of bonds acquired by the State Treasurer pursuant to ORS 224.380 (Limitations on authority of State Treasurer to purchase bonds), the State Treasurer may withhold and apply to the payment of such obligations, any moneys which may accrue to the municipality from state sources. Moneys so withheld shall be repaid to the municipality when the funds with which to meet the obligations for the payment of which funds were withheld are paid by the municipality to the state. The right to withhold said moneys for the purpose provided in this section shall exist only so long as any of the sewage bonds of the municipality are owned by the state.

Source: Section 224.410 — Authority to appoint receiver and withhold moneys from state sources on default, https://www.­oregonlegislature.­gov/bills_laws/ors/ors224.­html.

224.010
Definitions for ORS 224.010 to 224.170
224.020
Authority of city to construct sewer system
224.030
Authority of city over water and waterways
224.040
Assessment of property
224.050
Rights of owners outside city limits
224.065
Writ of review
224.080
Record and effect of judgment
224.090
Assessment lien on property outside city limits
224.100
Records and indexes of transcripts
224.110
Enforcing liens on property outside city limits
224.120
Sale without foreclosure
224.130
Assessment of property in drainage district
224.140
Authority to control sewer system
224.150
Federal aid
224.160
Procurement of funds for construction
224.170
Certain laws and charter provisions applicable to property beyond city limits
224.232
Bond election
224.270
Validation of bond issues
224.310
Definitions for ORS 224.310 to 224.420
224.320
Municipalities eligible for state help in financing sewerage systems
224.330
Conditions precedent to financing application
224.340
Bonds
224.350
General powers of State Treasurer under ORS 224.310 to 224.420
224.370
Municipality or district not to issue other bonds
224.380
Limitations on authority of State Treasurer to purchase bonds
224.390
State Sewer Bond Revolving Fund
224.400
Approval by State Treasurer of rates, collection of charges and delinquent assessments
224.410
Authority to appoint receiver and withhold moneys from state sources on default
224.420
Duty of local treasurer to keep funds separate and withhold bond payments
224.450
Validation of revenue bonds issued by cities of less than 100,000
224.510
Sewage charge on water users
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