Effective: September 29, 2017 Latest Legislation: House Bill 49 – 132nd General Assembly As used in sections 725.01 to 725.11 of the Revised Code: (A) “Slum area” means an area within a municipal corporation, in which area there is a predominance of buildings or improvements, whether residential or nonresidential, which by reason of dilapidation, deterioration, […]
Effective: December 2, 1996 Latest Legislation: House Bill 627 – 121st General Assembly (A) The portion of the assessed valuation of improvements constructed pursuant to a development agreement, and the portion of the increase in the assessed valuation after the commencement of rehabilitation of improvements rehabilitated pursuant to a development agreement declared to be a […]
Effective: March 27, 1991 Latest Legislation: House Bill 103 – 118th General Assembly The municipal corporation shall not take any formal action to enter into a development agreement that exempts improvements to real property from taxation in the manner set forth in section 725.02 of the Revised Code until section 5709.83 of the Revised Code […]
Effective: July 22, 1994 Latest Legislation: Senate Bill 19 – 120th General Assembly The legislative authority of a municipal corporation upon the authorization of urban renewal bonds, whether a single issue or a series, shall, at the same time, establish an urban renewal debt retirement fund for such single issue or series. The legislative authority […]
Effective: September 29, 2017 Latest Legislation: House Bill 49 – 132nd General Assembly A development agreement shall contain an agreement binding on the owner or owners of the improvements, and all subsequent owners of the improvements, to make semiannual urban renewal service payments, in lieu of taxes upon the improvements during the exemption period, equal […]
Effective: September 26, 1988 Latest Legislation: House Bill 774 – 117th General Assembly A municipal corporation creating an urban renewal debt retirement fund pursuant to section 725.03 of the Revised Code, may: (A) Issue unvoted urban renewal bonds, which pledge and are payable solely from all or any portion of the revenues as defined in […]
Effective: September 26, 1988 Latest Legislation: House Bill 774 – 117th General Assembly Urban renewal bonds issued under section 725.05 of the Revised Code shall be in such form and shall be sold in such manner and upon such terms and price as determined by ordinance of the municipal corporation issuing such bonds to be […]
Effective: September 26, 1988 Latest Legislation: House Bill 774 – 117th General Assembly Moneys derived from the sale of urban renewal bonds issued pursuant to sections 725.01 to 725.11 of the Revised Code shall be used for an urban renewal project or projects, or any part thereof, including the refunding of urban renewal bonds previously […]
Effective: September 26, 1988 Latest Legislation: House Bill 774 – 117th General Assembly The proceeds of each issue of urban renewal bonds issued pursuant to sections 725.01 to 725.11 of the Revised Code shall be used for the urban renewal project or projects or any parts thereof designated in the ordinance authorizing such issue and […]
Effective: September 26, 1988 Latest Legislation: House Bill 774 – 117th General Assembly (A) Urban renewal bonds issued pursuant to divisions (A) and (C) of section 725.05 of the Revised Code do not constitute a debt, or a pledge of the faith and credit of the issuing municipal corporation. All such urban renewal bonds described […]
Effective: September 26, 1988 Latest Legislation: House Bill 774 – 117th General Assembly Urban renewal bonds issued under sections 725.01 to 725.11 of the Revised Code are lawful investments of banks, savings banks, savings and loan associations, trust companies, trustees, fiduciaries, trustees or other officers having charge of sinking or bond retirement funds of municipal […]
Effective: September 26, 1988 Latest Legislation: House Bill 774 – 117th General Assembly Urban renewal bonds issued under sections 725.01 to 725.11 of the Revised Code may be secured by a trust agreement between the municipal corporation and a corporate trustee, which trustee may be any trust company or bank having the powers of a […]
