To create or preserve jobs and employment opportunities,
to improve the economic welfare of the
people of the state, to control air, water, and thermal
pollution, or to dispose of solid waste, it is hereby determined
to be in the public interest and a proper public
purpose for the state or its political subdivisions,
taxing districts, or public authorities, its or their agencies
or instrumentalities, or corporations not for profit
designated by any of them as such agencies or instrumentalities,
to acquire, construct, enlarge, improve, or
equip, and to sell, lease, exchange, or otherwise dispose
of property, structures, equipment, and facilities
within the state of Ohio for industry, commerce, distribution,
and research, to make or guarantee loans and to
borrow money and issue bonds or other obligations to
provide moneys for the acquisition, construction, enlargement,
improvement, or equipment, of such property,
structures, equipment and facilities. Laws may be
passed to carry into effect such purposes and to authorize
for such purposes the borrowing of money by, and
the issuance of bonds or other obligations of, the state,
or its political subdivisions, taxing districts, or public
authorities, its or their agencies or instrumentalities, or
corporations not for profit designated by any of them
as such agencies or instrumentalities, and to authorize
the guarantees and loans and the lending of aid
and credit, which laws, bonds, obligations, loans and
guarantees, and lending of aid and credit shall not be
subject to the requirements, limitations or prohibitions
of any other section of Article VIII, or of Article XII,
Sections 6 and 11, of the Constitution, provided that
moneys raised by taxation shall not be obligated or
pledged for the payment of bonds or other obligations
issued or guarantees made pursuant to laws enacted
under this section.
Except for facilities for pollution control or solid waste
disposal, as determined by law, no guarantees or loans
and no lending of aid or credit shall be made under the
laws enacted pursuant to this section of the constitution
for facilities to be constructed for the purpose of
providing electric or gas utility service to the public.
The powers herein granted shall be in addition to and
not in derogation of existing powers of the state or its
political subdivisions, taxing districts, or public authorities,
or their agencies or instrumentalities or corporations
not for profit designated by any of them as
such agencies or instrumentalities.
Any corporation organized under the laws of Ohio is
hereby authorized to lend or contribute moneys to the
state or its political subdivisions or agencies or instrumentalities
thereof on such terms as may be agreed
upon in furtherance of laws enacted pursuant to this
section.
Structure Ohio constitution