(b) The tax imposed pursuant to this subsection shall be applied only in payment of the principal and interest due on bonds issued by the district. In addition, the district may apply any otherwise unobligated district funds toward payment of the principal and interest due on the bonds.
(2) The district is a municipal corporation for purposes of ORS 294.305 to 294.565 and shall file a written notice with the county assessor as required under ORS 310.060. [2019 c.621 §18]