The board of commissioners created by section
8 of Art. VIII of the Constitution of the state of Ohio,
designated therein “The Commissioners of the Sinking
Fund,” shall, forthwith upon the adoption of this
amendment, proceed to issue and sell, from time to
time, bonds of the state of Ohio in such amounts of
face value as it may deem necessary to provide the
funds, or such part thereof, as may be required to pay
the compensation and the expenses of administering
this section as herein provided for, provided, however,
that the aggregate total amount of face value of
bonds so issued shall not exceed three hundred million
dollars. The full faith and credit of the state of
Ohio is hereby pledged for the payment of such bonds.
All bonds so issued shall mature in thirty semiannual
installments after the respective dates thereof, and
the maturities thereof shall be so fixed that the total
amounts of payments on account of principal and interest
to be paid on each of such semiannual installment
payment dates shall be approximately equal, but
no such bonds shall be issued or bear dates later than
the first day of April, 1951. All bonds so issued shall
bear interest at such rates as the commissioners of the
sinking fund may fix, which interest shall be payable
semiannually Such bonds, and the interest thereon as
income, shall be exempt from all taxes levied by the
state of Ohio or any taxing district thereof. The bonds
may, at the option of the sinking fund commission, be
issued subject to call on any interest payment date at
par and accrued interest. All sales of such bonds by the
commissioners of the sinking fund shall be in accordance
with such regulations as it shall make and promulgate,
provided, however, that such bonds shall be
sold only to the highest bidder or bidders therefore after
notice of such sale shall have been published once
each week for three consecutive weeks on the same
day of each of such weeks, the first of such notices being
published at least twenty-one full days before the
date of sale, in a newspaper of general circulation in
each of the eight most populous counties in the state of
Ohio, and provided that each of such published notices
shall state the day, hour and place of the sale, the total
face value of the bonds to be sold, their denominations,
dates, and the dates of their maturities, information
relative to the rates of interest which the bonds
will bear, and the dates upon which interest will be
payable. The commissioners of the sinking fund shall
have the right to reject any or all bids and to re-advertise
and re-offer bonds for sale. Out of the proceeds
of the sale of all bonds that amount which represents
accrued interest, if any, shall be paid into the treasury
of the state of Ohio into a fund to be known as the
World War II compensation bond retirement fund. The
balance shall be paid into the treasury of the state of
Ohio into a fund to be known as the World War II compensation
fund. The General Assembly of the state of
Ohio may appropriate and cause to be paid into the
World War II compensation bond retirement fund or
the World War II compensation fund, out of the funds
in the treasury of the state not otherwise appropriated,
such amounts as it may deem proper for use upon order
of the commissioners of the sinking fund for the
purposes for which such funds are created as herein
provided. If the General Assembly should so appropriate
any funds to the World War II compensation fund
prior to the time the commissioners of the sinking fund
shall have issued bonds of the aggregate total amount
of face value authorized in this section, the aggregate
total amount of face value of bonds so authorized to
be issued shall be reduced by the amount of the funds
so appropriated.
During the period of fifteen years beginning January
1, 1949, the treasurer of state of the state of Ohio shall
without appropriation thereof by the General Assembly,
transfer into said World War II compensation bond
retirement fund one million dollars each month out of
funds in the state treasury derived from taxes levied
by the state for the purpose of providing revenues to
defray the expenses of the state, excepting the taxes
levied by the state by sections 5527, 5541, and 6291
of the General Code of Ohio [RC §5735.05, 5735.25,
4303.02] as the same may be in effect on the effective
date of this section. To secure such monthly transfer of
funds a lien is hereby created upon all funds coming
into the state treasury after January 1, 1949, derived
from taxes as aforesaid, which lien shall be the first
and best lien upon all such funds. It shall be the duty
of the treasurer of state to set aside and use for the purpose
of making such monthly transfer of funds, part
of each dollar received in the state treasury in each
calendar year during said period of fifteen years beginning
January 1, 1949, derived from taxes as aforesaid,
so that the total amount of money so set aside in each
of such calendar years shall be twelve million dollars,
and so that the ratio which the amount of each dollar
so set aside shall bear to one dollar shall be the same
as the ratio which the amount of twelve million dollars
shall bear to the total amount of money received in
the state treasury in such calendar years derived from
taxes as aforesaid. The treasurer of state shall set aside
part of each dollar before paying out, transferring, or
disposing of in any other manner, such dollar or any
part thereof for any other purpose whatsoever, and
he shall make the transfer of one million dollars each
month to the World War II compensation bond retirement
fund, herein-above provided for, out of said sum
of twelve million dollars so set aside in each of such
calendar years.
The commissioners of the sinking fund shall, on or
before the first day of July in each calendar year, levy
and certify to the auditor of the state of Ohio a state tax
on all taxable property subject to taxation on the general
tax lists of all counties in the state of Ohio for such
year at such rate as it shall determine to be necessary
to provide, together with other money which will be
available in the World War II compensation bond retirement
fund, the total amount of funds which will be
required in the next following calendar year for the retirement
of bonds and the payment of interest payable
in such year. Such levy shall be in addition to all other
taxes levied now or hereafter within the period during
which bonds issued pursuant to the provisions of this
section shall be outstanding, by or pursuant to law or
any provision of the Constitution of the state of Ohio,
and shall not be considered in applying any limitation
The Constitution of the State of Ohio 29
Article VIII: Public Debt and Public Works
or aggregate tax rates now or hereafter within the period
during which bonds issued pursuant to the provisions
of this section shall be outstanding, provided by
or pursuant to law or any provision of the Constitution
of the state of Ohio. The auditor of state shall certify
such levies to the auditor of each county in Ohio, who
shall extend the same on the tax lists of his county for
the year in which such levy is made and shall place
same for collection on the tax duplicates of his county
to be collected the same time and in the same manner
as other taxes on such duplicates. Said taxes herein authorized,
when collected, shall be paid into the World
War II compensation bond retirement fund in the treasury
of the state. The World War II compensation bond
retirement fund shall be paid out, without appropriation
thereof by the General Assembly of Ohio, upon
the order of the commissioners of the sinking fund
for the purpose of the payment, or retirement in other
manner, of said bonds and interest thereon.
The World War II compensation fund shall be paid out
upon order of the commissioners of the sinking fund,
without appropriation by the General Assembly of
Ohio, in payment of the expenses of administering this
section, and as compensation as follows: every person
who shall have served in active duty in the armed forces
of the United States at any time between December
7, 1941 and September 2, 1945, both dates inclusive,
and who, at the time of commencing such service, was
and had been a resident of the state of Ohio for at least
one year immediately preceding the commencement
of such service, and who shall have been separated
from such service under honorable conditions, or who
is still in such service, or who has been retired, and
who was in service for a period of at least ninety days,
shall be entitled to receive compensation of ten dollars
for each month during which such person was in
active domestic service and fifteen dollars for each
month during which such person was in active foreign
service within said period of time; provided, however,
that any person who was serving in active duty in the
armed forces of the United States on the seventh day
of December, 1941, and who did not so serve at least
ninety days thereafter because of a service-connected
injury or death shall be deemed to have served at least
ninety days within the period of time commencing December
7, 1941 and ending September 2, 1945; and
provided, further, that the maximum amount of compensation
payable under this section shall not be in
excess of four hundred dollars; and provided, further,
that no compensation shall be paid under this section
to any person who shall have received from another
state a bonus or compensation of a like nature as is
provided under this section. No compensation shall be
paid under this section to any person for any periods of
time spent under penal confinement during the period
of active duty. Compensation for a fraction of a month
of service shall be paid on the basis of one-thirtieth
of the above monthly amounts for each day of such
service. Service in the merchant marine of the United
States shall not be considered for the purpose of this
section. ‘Domestic service” as used herein means service
within the continental limits of the United States
(excluding Alaska). Foreign service” as used herein
means service in all other places, including sea duty.
Either the surviving husband or wife, or the surviving
child or children, or the surviving parents or parent,
of a deceased person shall be paid the same amount
of compensation that such deceased person would be
entitled to receive under this section, if living; provided,
however, that if such deceased person’s death
was service-connected and in line of duty, his survivors
as hereinbefore designated, shall be paid four
hundred dollars regardless of the amount of compensation
which such deceased person would be entitled
to receive under this section, if living; provided further,
that the amount of compensation payable to such
survivors of such deceased person shall be payable
only to one of the three groups of survivors hereinbefore
designated in the order in which said groups are
herein named; and provided further, that the surviving
husband or wife of more than one deceased person
who would be entitled to receive compensation under
this section, if living, shall be paid only that amount
of compensation payable by reason of the first of the
deaths of such deceased persons.
No sale or assignment of any right or claim to compensation
under this section shall be valid, no claims
of creditors shall be enforceable against rights or
claims to or payments of compensation under this section,
and no fees shall be charged for services in connection
with the prosecution of any right or claim to
compensation or the collection of any compen-sation
under this section.
The commissioners of the sinking fund shall have
complete charge of making payments of the compensation
provided for in this section and shall adopt and
promulgate regulations governing their procedure in
connection therewith, including determinations as to
who are proper beneficiaries and the amounts to which
such beneficiaries are entitled, determinations as to
whether an applicant has the necessary residence requirements,
and such other regulations as it may deem
necessary and proper; provided, however, that all applications
for payment of compensation under this section
shall be made to the commissioners of the sinking
fund before July 1, 1950.
The commissioners of the sinking fund shall select
and appoint such legal counsel and employees as it
may deem necessary, fix their compensation and prescribe
their duties, and all such appointees shall serve
at its pleasure.
The people of the state of Ohio declare that their enactment
of this special amendment of the Constitution
of the state of Ohio is to meet the specific emergency
covered thereby, and they declare it to be their intention
to in no manner affect or change any of the existing
provisions of the said constitution except as herein
set forth. The provisions of this section shall be self
executing.
Upon the retirement of all the bonds that may be issued
hereunder and the payment of all valid claims for
compensation made within the limitations of time as
prescribed herein, the commissioners of the sinking
fund shall make a final report to the General Assembly
of Ohio, and any balance remaining in any of the funds
herein created and referred to shall be disposed of as
shall be provided by law.
Structure Ohio constitution