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Home » US Law » 2022 Ohio Revised Code » Title 9 | Agriculture-Animals-Fences » Chapter 902 | Agricultural Financing

Section 902.01 | Agricultural Financing Definitions.

Effective: January 1, 2018 Latest Legislation: House Bill 49 – 132nd General Assembly As used in this chapter: (A) “Bonds” means bonds, notes, or other forms of evidences of obligation issued in temporary or definitive form, including refunding bonds and notes and bonds and notes issued in anticipation of the issuance of bonds and renewal […]

Section 902.02 | Finding of Importance of Agriculture.

Effective: January 11, 1985 Latest Legislation: House Bill 826 – 115th General Assembly It is hereby found and determined that agriculture is an essential and indispensable part of the commerce and industry of the state and is of vital importance to the creation and preservation of jobs and employment opportunities and to the improvement of […]

Section 902.03 | Industrial Development Provisions of Constitution Implemented.

Effective: October 26, 1999 Latest Legislation: House Bill 19 – 123rd General Assembly Section 13 of Article VIII, Ohio Constitution, is in part implemented by this chapter in furtherance of the public purposes of the state to create or preserve jobs and employment opportunities or to improve the economic welfare of the people of the […]

Section 902.04 | Purpose of Loans, Debts, Bonds.

Effective: November 2, 2018 Latest Legislation: House Bill 34 – 132nd General Assembly (A) An issuer may from time to time issue bonds to carry out the lawful purposes set forth in this chapter including, but not limited to, the purchase of loans or other evidence of debt from and the making of loans to […]

Section 902.05 | Provisions of Bond Proceedings.

Effective: January 11, 1985 Latest Legislation: House Bill 826 – 115th General Assembly The bond proceedings may contain provisions which shall be part of the contract with the bondholders as to: (A) Determinations by the issuing authority that the project to be financed thereunder is a project, as defined in this chapter, and is consistent […]

Section 902.06 | Determinations of Agricultural Financing Commission.

Effective: January 11, 1985 Latest Legislation: House Bill 826 – 115th General Assembly The agricultural financing 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 will […]

Section 902.07 | Trust Agreement or Indenture of Mortgage Provisions.

Effective: January 11, 1985 Latest Legislation: House Bill 826 – 115th General Assembly (A) In the discretion of the issuing authority, 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 a trust […]

Section 902.08 | Loans to or Through Lending Institution.

Effective: January 11, 1985 Latest Legislation: House Bill 826 – 115th General Assembly (A) An issuer may make and contract to make loans to or through lending institutions to finance a project on such terms and conditions as the issuer shall determine, and all lending institutions are hereby authorized to borrow from any issuer in […]

Section 902.09 | Protection and Enforcement of Rights of Bondholder and Trustees.

Effective: January 11, 1985 Latest Legislation: House Bill 826 – 115th General Assembly (A) Any holder of bonds issued pursuant to this chapter or a trustee under a trust agreement or indenture of mortgage entered into pursuant to section 902.07 of the Revised Code, except to the extent that their rights are restricted by the […]

Section 902.10 | Bonds Are Lawful Investments.

Effective: November 2, 1999 Latest Legislation: House Bill 222 – 123rd General Assembly All bonds issued under this chapter are lawful investments of banks, societies for savings, savings and loan associations, deposit guarantee associations, trust companies, trustees, fiduciaries, insurance companies, including domestic for life and domestic not for life, trustees or other officers having charge […]

Section 902.11 | Property Subject to Taxes and Zoning, Planning and Building Regulations.

Effective: October 21, 2003 Latest Legislation: Senate Bill 37, House Bill 95 – 125th General Assembly (A) Any real or personal property, or both, of an issuer that is acquired, constructed, reconstructed, enlarged, improved, furnished, or equipped, or any combination thereof, and leased or subleased under authority of this chapter shall be subject to ad […]

Section 902.12 | Special Assessments.

Effective: January 11, 1985 Latest Legislation: House Bill 826 – 115th General Assembly When a special assessment is made on real property owned by an issuer and leased under authority of this chapter, the installments of the assessment shall be paid by the lessee of such real property so long as such property is leased […]