(2) A district may, without a vote of the district electorate, enter into a contract with the United States or the State of Oregon for a loan in an amount that does not exceed the greater of $25,000 or one-third of the average annual operations and maintenance budget of the district for the three most recent years.
(3) If an emergency requires immediate repairs to the district delivery system to permit normal operation, the district may borrow moneys necessary for the repairs without a vote by the district electorate. [Formerly 545.194]