Effective: September 29, 2013 Latest Legislation: House Bill 59 – 130th General Assembly For purposes of this chapter: (A) “Lake facilities authority” means a body corporate and politic created pursuant to section 353.02 of the Revised Code. (B) “Watershed” means a watershed as determined by the United States geological survey. (C) “Impacted watershed” means a […]
Effective: September 29, 2013 Latest Legislation: House Bill 59 – 130th General Assembly A lake facilities authority may be created by the board of county commissioners of a county that contains all of the territory of an impacted watershed. If the territory of an impacted watershed is contained within more than one county, a joint […]
Effective: December 22, 2015 Latest Legislation: House Bill 340 – 131st General Assembly A lake facilities authority may do all of the following: (A) Acquire by purchase, lease, gift, or otherwise, on such terms and in such manner as it considers proper, real and personal property necessary for an authorized purpose or any estate, interest, […]
Effective: September 29, 2013 Latest Legislation: House Bill 59 – 130th General Assembly (A) Upon the creation of a lake facilities authority under section 353.02 of the Revised Code, a board of directors consisting of the county commissioners of each county with territory in the impacted lake district shall be created. Membership on the board […]
Effective: September 29, 2013 Latest Legislation: House Bill 59 – 130th General Assembly The board of directors of a lake facilities authority, by resolution, may propose the levy of a tax upon the taxable property in the impacted lake district pursuant to section 5705.55 of the Revised Code.
Effective: September 29, 2013 Latest Legislation: House Bill 59 – 130th General Assembly As used in this section, “hotel” and “transient guests” have the same meanings as in section 5739.01 of the Revised Code. A resolution creating a lake facilities authority under section 353.02 of the Revised Code, or any amendments or supplements thereto, may […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
