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:\n(1) Current operating expenses of the district beyond the fiscal year in which the withdrawal is effective.\n(2) Special tax levies, bond indebtedness or debt service obligations approved in the district subsequent to the withdrawal.\n(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]
Oregon Legal Code