Section 353.11 | Security for Bonds.
Effective: September 29, 2013 Latest Legislation: House Bill 59 – 130th General Assembly In the discretion of the lake facilities authority, any lake facilities authority revenue bonds issued under this chapter may be secured by a trust agreement between the lake facilities authority and a corporate trustee that may be any trust company or bank […]
Section 353.12 | Enforcement of Rights.
Effective: September 29, 2013 Latest Legislation: House Bill 59 – 130th General Assembly Any holder of lake facilities authority revenue bonds issued under sections 353.09 to 353.15 of the Revised Code, or any of the coupons pertaining to those bonds, and the trustee under any trust agreement, except to the extent the rights given by […]
Section 353.13 | Nature of Revenue Bonds.
Effective: September 29, 2013 Latest Legislation: House Bill 59 – 130th General Assembly Lake facilities authority revenue bonds issued under sections 353.09 to 353.15 of the Revised Code do not constitute a debt, or a pledge of the faith and credit, of the state or any political subdivision of the state. The holders or owners […]
Section 353.14 | Authority Moneys, Funds, Property and Assets.
Effective: September 29, 2013 Latest Legislation: House Bill 59 – 130th General Assembly All moneys, funds, properties, and assets acquired by the lake facilities authority under this chapter, whether as proceeds from the sale of lake facilities authority revenue bonds or as revenues, or otherwise, shall be held by it in trust for the purposes […]
Section 353.15 | Investments.
Effective: September 29, 2013 Latest Legislation: House Bill 59 – 130th General Assembly Except as otherwise provided in any resolution authorizing the issuance of its lake facilities authority revenue bonds or in any trust agreement securing the bonds, moneys in the funds of the lake facilities authority in excess of current needs may be invested […]
Section 353.16 | Bonds as Lawful Investments.
Effective: September 29, 2013 Latest Legislation: House Bill 59 – 130th General Assembly Bonds of a lake facilities authority and lake facilities authority revenue bonds are lawful investments of banks, societies for savings, trust companies, savings and loan associations, deposit guaranty associations, trustees, fiduciaries, trustees or other officers having charge of the bond retirement funds […]
Section 353.07 | Transfer of Property for Benefit of Wetlands, Wildlife, or Sporting Activities.
Effective: September 29, 2013 Latest Legislation: House Bill 59 – 130th General Assembly The director of natural resources may transfer real property owned by the state to a lake facilities authority for the purpose of promoting wetland banking, wildlife, or sporting activities. The division of wildlife within the department of natural resources may enter into […]
Section 353.08 | Lake Facilities Authority Anticipation Bonds.
Effective: September 29, 2013 Latest Legislation: House Bill 59 – 130th General Assembly A lake facilities authority that levies a tax authorized by sections 353.05 and 5705.55 or section 353.06 of the Revised Code may, by resolution, anticipate the proceeds of the tax and issue lake facilities authority anticipation bonds, and notes anticipating the proceeds […]
Section 353.09 | Lake Facilities Authority Revenue Bonds.
Effective: September 29, 2013 Latest Legislation: House Bill 59 – 130th General Assembly A lake facilities authority at any time may issue lake facilities authority revenue bonds in such principal amounts as, in the opinion of the lake facilities authority, are necessary for the purpose of paying the cost of one or more lake facilities […]
Section 353.10 | Additional Powers With Respect to Facilities.
Effective: September 29, 2013 Latest Legislation: House Bill 59 – 130th General Assembly (A) With respect to facilities, and their financing, for an authorized purpose, under agreements whereby the person to whom the facility is to be leased, subleased, or sold, or to whom a loan is to be made for the facility, is to […]