(1) If a parcel of territory or a city is annexed to an existing peoples utility district, or two or more districts are consolidated, such annexation or consolidation shall not affect or impair the title to any property owned or held by the district or districts, or any property owned or held by the annexed city, or in trust therefor, or any debts, demands, liabilities or obligations existing in favor of or against either the district or city so annexed. (2) The acceptance of any indebtedness at the election to determine the question of annexation shall not include any indebtedness except such as has been incurred or assumed on account of development or purchase of a utility, including the replacement value of the unreimbursed investment of an investor owned utility in energy efficiency measures and installations within the annexed area. [Amended by 1991 c.358 3; 2003 c.802 72]
‹ Prev All Oregon sections Next ›
Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.