74th OREGON LEGISLATIVE ASSEMBLY--2007 Regular Session
 
NOTE:  Matter within  { +  braces and plus signs + } in an
amended section is new. Matter within  { -  braces and minus
signs - } is existing law to be omitted. New sections are within
 { +  braces and plus signs + } .
 
LC 1512
 
                         House Bill 2463
 
Sponsored by Representative BUTLER
 
 
                             SUMMARY
 
The following summary is not prepared by the sponsors of the
measure and is not a part of the body thereof subject to
consideration by the Legislative Assembly. It is an editor's
brief statement of the essential features of the measure as
introduced.
 
  Authorizes local governments to seek protection under federal
bankruptcy law.
 
                        A BILL FOR AN ACT
Relating to bankruptcy of local government.
Be It Enacted by the People of the State of Oregon:
  SECTION 1.  { + A county may file a petition seeking protection
and exercise powers pursuant to applicable federal bankruptcy law
under 11 U.S.C. 101 et seq. + }
  SECTION 2.  { + A city may file a petition seeking protection
and exercise powers pursuant to applicable federal bankruptcy law
under 11 U.S.C. 101 et seq. + }
  SECTION 3.  { + A local service district, as defined in ORS
174.116, may file a petition seeking protection and exercise
powers pursuant to applicable federal bankruptcy law under 11
U.S.C. 101 et seq. + }
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