The liabilities and indebtedness for which a part of a district named in ORS 222.510 remains liable, upon withdrawal by annexation or incorporation as provided in ORS 222.120 or 222.520, shall not include:
- (1) Current operating expenses of the district beyond the fiscal year in which the withdrawal is effective.
- (2) Special tax levies, bond indebtedness or debt service obligations approved in the district subsequent to the withdrawal.
- (3) Any amount which is due beyond the fiscal year in which the withdrawal is effective by reason of a contract for services between the district and another district or municipality where the amount due varies in each fiscal year according to the assessed valuation of the district.
[1957 c.573 §2; 1963 c.347 §4; 1965 c.509 §4; 1985 c.702 §15]