Section 4981.25 | Designation of Corporation as Agent of State.
Effective: October 20, 1994 Latest Legislation: House Bill 250 – 120th General Assembly In accordance with Section 13 of Article VIII, Ohio Constitution, the state, acting through the Ohio rail development commission, for the purpose of implementing rail service, may by resolution designate a corporation organized under Chapter 1702. or 1724. of the Revised Code […]
Section 4981.15 | Bonds Not a Debt of State.
Effective: November 2, 1999 Latest Legislation: House Bill 222 – 123rd General Assembly (A) The Ohio rail development commission, from time to time, may issue bonds in such principal amounts as the commission finds necessary to finance one or more rail service projects. Sections 9.98 to 9.983 of the Revised Code are hereby made applicable […]
Section 4981.16 | Determinations in Connection With Issuance of Bonds.
Effective: October 20, 1994 Latest Legislation: House Bill 250 – 120th General Assembly The Ohio rail development commission may make the following determinations in connection with any issuance of its bonds: (A) The number, location, and other characteristics of projects, including to the extent reasonably possible, assurance that the projects to be financed by bonds […]
Section 4981.17 | Securing Bonds by Trust Agreement or Indenture of Mortgage.
Effective: October 20, 1994 Latest Legislation: House Bill 250 – 120th General Assembly (A) In the discretion of the Ohio rail development commission, the bonds may be secured by a trust agreement or indenture of mortgage between the issuer and a corporate trustee, which may be any trust company or bank having the powers of […]
Section 4981.07 | Restoration, Repair, Relocation, or Upgrading Rail Property.
Effective: October 20, 1994 Latest Legislation: House Bill 250 – 120th General Assembly (A) The Ohio rail development commission may restore, repair, relocate, or upgrade any rail property purchased, leased, or maintained by the commission. The commission may restore, repair, relocate, or upgrade any rail property owned by another person as long as such action […]
Section 4981.08 | Sale, Transfer, or Lease of Rail Property.
Effective: October 20, 1994 Latest Legislation: House Bill 250 – 120th General Assembly (A) The Ohio rail development commission may sell, transfer, or lease any of the rail property that it possesses to any person for the continuation and operation of any rail service that is provided for pursuant to this chapter. (B) The commission […]
Section 4981.09 | Rail Development Fund.
Effective: September 29, 1999 Latest Legislation: House Bill 283 – 123rd General Assembly There is hereby created in the state treasury the rail development fund. The fund shall consist of such moneys as may be provided by law, including moneys received from the sale, transfer, or lease of any rail property pursuant to section 4981.08 […]
Section 4981.091 | Federal Rail Fund.
Effective: September 16, 1998 Latest Legislation: House Bill 770 – 122nd General Assembly There is hereby created in the state treasury the federal rail fund. The fund shall consist of money received pursuant to section 4981.08 of the Revised Code and such other money as may be provided by law. The fund shall be used […]
Section 4981.10 | Conditions for Purchasing Property, Facilities or Equipment.
Effective: October 20, 1994 Latest Legislation: House Bill 250 – 120th General Assembly As long as such action does not violate covenants made on behalf of or for the benefit of the holders of bonds, notes, or other obligations of the Ohio rail development commission, the Ohio rail development commission may purchase any portion of […]
Section 4981.11 | Bond Proceedings Definitions.
Effective: October 20, 1994 Latest Legislation: House Bill 250 – 120th General Assembly (A) “Commission” means the Ohio rail development commission created in section 4981.02 of the Revised Code, the duties, powers, responsibilities, and functions of which are specified in this chapter. (B) “Bond” means revenue bonds, notes, or other obligations including current or advance […]