Section 5540.17 | Political Subdivision Need Not Consent or Approve.
Effective: June 30, 1995 Latest Legislation: House Bill 107 – 121st General Assembly Notwithstanding any other section of the Revised Code to the contrary, the approval, consent, or cooperation of a political subdivision is not required for a transportation improvement district project that involves constructing or improving a street or highway that runs through the […]
Section 5540.18 | Transportation Improvement District Projects Outside District.
Effective: September 29, 2013 Latest Legislation: House Bill 59 – 130th General Assembly A board of county commissioners may enter into an agreement with a contiguous transportation improvement district that the board of county commissioners did not create for the district to undertake a project that is located wholly or partially within that county provided […]
Section 5540.07 | Refunding Outstanding Bonds.
Effective: June 30, 1993 Latest Legislation: House Bill 154 – 120th General Assembly The board of trustees of a transportation improvement district may provide by resolution for the issuance of bonds of the district, payable solely from pledged revenues, for the purpose of refunding any bonds then outstanding, including the payment of related financing expenses […]
Section 5540.08 | Additional Alternative Methods.
Effective: June 30, 1993 Latest Legislation: House Bill 154 – 120th General Assembly This chapter provides an additional and alternative method for doing the things and taking the actions authorized by this chapter. This chapter shall be regarded as supplemental and additional to powers conferred by other laws. The issuance of bonds under this chapter […]
Section 5540.09 | Bonds Not a Debt of State.
Effective: June 30, 2005 Latest Legislation: House Bill 66 – 126th General Assembly (A) The bonds do not constitute a debt, or a pledge of the faith and credit, of the state or of any political subdivision of the state. Bond service charges on outstanding bonds are payable solely from the pledged revenues pledged for […]
Section 5540.10 | Securing Bonds by Trust Agreement.
Effective: June 30, 1993 Latest Legislation: House Bill 154 – 120th General Assembly (A) In the discretion of the board of trustees of a transportation improvement district any bonds may be secured by a trust agreement between the board and a corporate trustee, which may be any trust company or bank having the powers of […]
Section 5540.11 | Applying Revenue From Project.
Effective: June 30, 1993 Latest Legislation: House Bill 154 – 120th General Assembly Revenues derived from each project of a transportation improvement district in connection with which any bonds are outstanding shall be first applied to pay the cost of the construction, maintenance, and repair of the project and to provide such reserves therefor as […]
Section 5540.12 | Deposit and Use of Moneys.
Effective: June 30, 1993 Latest Legislation: House Bill 154 – 120th General Assembly All moneys received by the board of trustees of a transportation improvement district under this chapter, whether as proceeds from the sale of bonds, as revenues, or otherwise are to be held and applied solely as provided in this chapter and in […]
Section 5540.13 | Protection and Enforcement of Rights of Bondholder and Trustees.
Effective: June 30, 1993 Latest Legislation: House Bill 154 – 120th General Assembly Any holder of bonds issued and outstanding under this chapter, or any of the coupons appertaining thereto, and the trustee under any trust agreement, except to the extent the rights given by this chapter may be restricted or modified by the bond […]
Section 5540.14 | Enforcing Rights of Bondholder.
Effective: June 30, 1993 Latest Legislation: House Bill 154 – 120th General Assembly The exercise of the powers granted by this chapter is in all respects for the benefit of the people of the state, for the increase of their commerce and prosperity, and for the improvement of their health and living conditions, and as […]