ORS Chapter 328

Chapter 328 — LocalFinancing of Education

2009 EDITION

LOCALFINANCING OF EDUCATION

EDUCATIONAND CULTURE

GENERALPROVISIONS

328.001 Definitions

COUNTYSCHOOL FUND

328.005 Countyschool fund; uses

328.015 Apportionmentto districts

328.030 Partialapportionments

328.045 Apportionmentof excess amounts; application as tax offset

DOUGLASCOUNTY SCHOOL FUND

328.105 Sources;use of interest

328.110 Custodianof fund

328.115 Loanof fund and rental of lands; disbursement of interest and rents

328.120 Boardof Douglas County School Fund commissioners

328.125 Lawconcerning Common School Fund to apply

328.130 Loansto be made in name of treasurer; collection of sums due

328.135 Feesfor services of county officers; expense of making loan

328.140 Sale,rental or lease of property; disposition of proceeds

COMMONSCHOOL FUND FOR DISTRICT NO. 1, KLAMATH COUNTY

328.155 Sources;use of interest

328.160 Custodianof fund; bond

328.165 Investmentand loan of fund and rental of lands; disbursement of interest and rents

328.170 Directorsas fund commissioners

328.175 Lawsgoverning loans of Common School Fund to apply

328.180 Loansto be made in name of clerk; collection of sums due

328.185 Feesfor services of clerk; expense of making loan

328.190 Saleand conveyance of property; disposition of proceeds

BONDS

328.205 Powerto contract bonded indebtedness; use of proceeds to pay expenses of issue

328.210 Bondelections

328.213 Issuanceof negotiable interest-bearing warrants

328.230 Issueof bonds upon favorable vote

328.240 Placeof payment

328.245 Limitationon bonded debt of districts generally

328.250 Limitationon bonded indebtedness of enlarged or reorganized school districts

328.255 Registrationof bonds and negotiable interest-bearing warrants; delivery; disposition ofproceeds of sale of bonds; noncontestability

328.260 Taxlevy to pay interest and principal of bonds; use of funds derived from tax

328.265 Schooldistrict bond tax levied by county

328.270 Paymentof principal and interest; collection commission

328.275 Redemptionand payment of bonds

328.280 Fundingor refunding district indebtedness

328.295 Issuanceof bonds and interest-bearing warrants

328.300 Marketingbonds jointly or through association

328.304 Countyeducation bond district; creation; powers; purpose

328.316 Impactaid revenue bonds; issuance; requirements

328.318 Fundsrequired for impact aid revenue bonds

Note Fundsdiversion agreement--2003 c.715 §§38,39

OREGONSCHOOL BOND GUARANTY ACT

328.321 Definitionsfor ORS 328.321 to 328.356

328.326 Stateguaranty of school bonds allowed

328.331 Certificateevidencing qualification for state guaranty; rules; application; qualificationstandards

328.336 Determinationof ineligibility

328.341 Transferby school districts or State Treasurer of moneys to pay debt service on schoolbonds

328.346 Recoveryfrom school districts of payments on school bonds by State Treasurer

328.351 Powersof State Treasurer when state funds are insufficient for payment of debtservice

328.356 StateTreasurer subject to provisions regarding issuance of general obligation bonds

328.361 Shorttitle

DISBURSEMENTS;AUDITS

328.441 Custodyand disbursement of school district funds

328.445 Disbursementof school funds by check or warrant

328.450 Schoolwarrant procedure

328.460 Cancellationof school warrants not presented for payment within seven years

328.465 Annualaudit procedure

328.467 Auditdeterminations; deficiencies; correction; sanctions

328.470 Purchaseof automotive equipment; fund transfers

TAXESAND INDEBTEDNESS

328.542 Preparationof district budget; certification of taxes

328.555 Propertyliable for district indebtedness; tax levy

328.565 Powerto create indebtedness; zone academy bonds; tax credit bonds

328.570 Divisionof district into tax zones

328.573 Noticeof public hearing on tax zones

328.576 Publichearing; resolution to establish tax zones

328.579 Determinationof tax in zones; limitations

GENERALPROVISIONS

328.001Definitions.As used in this chapter, unless the context requires otherwise:

(1)“Administrative office for the county” means the administrative office of theeducation service district, or of any common school district that includes anentire county.

(2)“Impact aid revenues” means the revenues received by a school district from thefederal government pursuant to 20 U.S.C. 7701 to 7714.

(3)“School district” includes common and union high school districts. [1965 c.100 §42;1971 c.513 §60; 1991 c.167 §3; 2003 c.226 §5; 2003 c.343 §1]

COUNTYSCHOOL FUND

328.005County school fund; uses. (1) The governing body of each county shall createa county school fund.

(2)When a county governing body transfers federal forest reserve receipts underORS 294.060 (4) subject to a condition that such moneys be used only for apurpose described in ORS 328.205 (1)(a) or (c), a school district receiving ashare of such moneys may not use the moneys for any other purpose. [Amended by1965 c.100 §43; 1965 c.491 §1; 1967 c.107 §1; 1971 c.294 §4; 1989 c.579 §2;1997 c.821 §19; 2003 c.226 §6]

328.010 [Amended by1963 c.544 §17; 1965 c.100 §44; repealed by 1975 c.64 §1]

328.015Apportionment to districts. On the first Monday in December the executiveofficer of the administrative office for the county shall apportion the countyschool fund among the several districts in the county, in proportion to theresident average daily membership for the preceding fiscal year in eachdistrict as reported by the district to the administrative office of the county.In the case of a joint school district, the resident average daily membershipreported to the administrative office of the counties comprising the districtshall be prorated between the counties as the resident enrollment of thedistrict is prorated between the counties. Any balance accruing to the fundafter the December apportionment shall be apportioned in the same manner atsuch other times during the year as the executive officer of the administrativeoffice may consider advisable. [Amended by 1965 c.100 §45; 1971 c.294 §5; 1975c.770 §5]

328.020 [Amended by1963 c.544 §18; 1965 c.100 §46; repealed by 1975 c.770 §49]

328.025 [Amended by1965 c.100 §47; 1971 c.294 §6; repealed by 1975 c.770 §49]

328.030Partial apportionments. The executive officer of the administrative officefor the county, upon the written request of any district school board, may makea partial apportionment to any district of any money due it at the time ofmaking a regular apportionment under ORS 328.015, and apportion the remainderat the next regular apportionment. The county treasurer shall pay any partialapportionment made under this section. [Amended by 1963 c.544 §19; 1965 c.100 §48]

328.035 [1971 c.449 §4;1985 c.555 §15; repealed by 2001 c.36 §3]

328.045Apportionment of excess amounts; application as tax offset. Any moneys inthe county school fund in excess of the amount required by law may, by order ofthe county governing body, be apportioned under ORS 328.015 separately fromremaining county school fund moneys. Amounts separately apportioned under thissection to a school district shall not be considered a budget resource underthe Local Budget Law but shall be used as an offset to the school district’stax levy. [1979 c.551 §2]

DOUGLASCOUNTY SCHOOL FUND

328.105Sources; use of interest. The proceeds of all gifts, devises and bequestsmade to Douglas County for common school purposes shall be set apart as aseparate and irreducible school fund, to be called the Douglas County SchoolFund, the interest of which shall be applied to the support and maintenance ofall common schools in said county.

328.110Custodian of fund.The county treasurer shall be the custodian of the Douglas County School Fund.The bond as treasurer shall include the honest and faithful performance of theduties of the county treasurer as such custodian.

328.115Loan of fund and rental of lands; disbursement of interest and rents. (1) The countytreasurer shall loan the Douglas County School Fund in the manner provided bylaw at the best rate obtainable per annum and shall rent all lands owned by thecounty belonging to the fund.

(2)The county treasurer shall place the interest and rentals with other moneys thecounty receives for support of the common schools. The education servicedistrict board shall apportion and the county treasurer shall distribute theinterest and rentals with, and in the same manner as, such other moneys. [Amendedby 1963 c.544 §20]

328.120Board of Douglas County School Fund commissioners. The chairpersonof the board of county commissioners, clerk and treasurer of Douglas County areappointed as a board of Douglas County School Fund commissioners. They shallapprove all applications for loans as to title and value of security offered.The treasurer shall make no loan or lease any land until such board has givenits approval. [Amended by 1963 c.386 §5]

328.125Law concerning Common School Fund to apply. The laws governing the loaningof the Common School Fund of this state, so far as applicable and not inconflict with ORS 328.105 to 328.140 shall govern the loaning of the DouglasCounty School Fund.

328.130Loans to be made in name of treasurer; collection of sums due. All loans shallbe made in the name of the treasurer of Douglas County but for the benefit ofthe fund. The treasurer shall collect all sums due the fund in the mannerprovided by law.

328.135Fees for services of county officers; expense of making loan. No officer ofDouglas County shall charge or receive fees for any service performed in regardto the fund. All expenses of making a loan shall be paid for by the applicant.

328.140Sale, rental or lease of property; disposition of proceeds. The board ofDouglas County School Fund commissioners may sell and convey by deed, executedby all of said commissioners, any and all real property devised to DouglasCounty for common school purposes, whenever in the judgment of such board theinterest of the school fund will be subserved by such sale, or may rent orlease the same when it deems best.