ORS 225.280
Warrants on future income

  • limitations
  • retirement

(1)

When authorized by the city charter, the officer referred to in ORS 225.220 (Enforcement of statutory requirements) as having charge of the electric plant or distributing system may execute its warrants upon the city treasurer, drawn against the funds created by and for the benefit of such plant or system in excess of the current cash on hand but not in an amount exceeding one-half of the estimated annual income for the next ensuing year, from such plant or system. The estimate of annual income shall be made by the officer referred to in ORS 225.220 (Enforcement of statutory requirements).

(2)

Warrants so drawn in excess of the cash on hand in any such fund shall be stamped “Not Paid for Want of Funds” by the city treasurer, shall bear the legal interest from the date of such indorsement until the date of payment and shall be paid from the current receipts of the plant or system. The warrant indebtedness shall not be considered or construed to be within the charter limitations respecting any municipal debt.

(3)

Warrants issued pursuant to this section shall be retired in the order of their presentation for indorsement “Not Paid for Want of Funds” as funds are available.

Source: Section 225.280 — Warrants on future income; limitations; retirement, https://www.­oregonlegislature.­gov/bills_laws/ors/ors225.­html.

225.010
Definition of “city.”
225.020
Ownership and operation of utilities by city within and without city limits
225.030
Utility may provide services within or without city limits
225.040
Validation of prior municipal contracts
225.050
Joint construction, ownership and operation of waterworks
225.060
Several or joint ownership, operation and financing of municipal utilities in another state
225.070
Use of surplus city waters for federal military purposes
225.080
Financing costs of municipal waterworks or water system
225.085
Klamath Cogeneration Project
225.110
Ownership and operation of telephone system by city within or without city limits
225.120
Interconnections
225.130
Right to acquire property
225.140
Condemnation of private property for telephone system
225.150
Compensation
225.160
Alternate condemnation proceeding
225.210
Compliance with rate statutes
225.220
Enforcement of statutory requirements
225.230
Rates set in accordance with estimates of annual expenses
225.240
Sole authority to set rates
225.250
Application of earnings
225.260
Use of proceeds of bond issues
225.270
Use of surplus revenue
225.280
Warrants on future income
225.290
Right to acquire use of unappropriated state waters
225.300
Filing for use of unappropriated state waters
225.310
Definitions for ORS 225.310 to 225.400
225.320
Ownership and operation of irrigation and fire protection facilities by city within or without city limits
225.330
Acquisition of property for facilities
225.340
Establishing rates
225.350
Recovery of service charges
225.360
Approval, issuance, payment of bonds
225.370
Terms of bonds
225.380
Application of debt limitations
225.390
Preparation and examination of plans
225.400
Scope of municipal authority
225.450
Definitions for ORS 225.450 to 225.490
225.460
Policy
225.470
Authority of city to acquire interest in power facilities
225.480
City liability
225.490
Use of municipal money or property
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