Effective: September 3, 1996
Latest Legislation: House Bill 462 - 121st General Assembly
Bond anticipation notes of a municipal corporation, county, or township issued during a fiscal emergency period may mature at the later of the time otherwise permitted by law or any time approved by the commission and estimated by it to be not more than one year following termination of the fiscal emergency period and, notwithstanding that such maturity exceeds one year, may be sold by competitive bids or by negotiation. Bonds or notes may be issued by a municipal corporation, county, or township during a fiscal emergency period to retire bond anticipation notes for the stated purposes of such bond anticipation notes notwithstanding that the proceeds of such bond anticipation notes or the original indebtedness were used for other purposes.
Structure Ohio Revised Code
Chapter 118 | Local Fiscal Emergencies
Section 118.01 | Local Fiscal Emergency Definitions.
Section 118.02 | Requiring Fiscal Integrity of Municipal Corporations, Counties, and Townships.
Section 118.021 | Initiating Fiscal Watch Review.
Section 118.022 | Conditions Constituting Grounds for Fiscal Watch.
Section 118.023 | Declaring Existence of Fiscal Watch; Financial Recovery Plan.
Section 118.03 | Fiscal Emergency Conditions.
Section 118.04 | Determining Existence of Fiscal Emergency Condition.
Section 118.041 | Performance Audit of Municipal Corporations.
Section 118.05 | Financial Planning and Supervision Commission.
Section 118.06 | Submission of Detailed Financial Plan.
Section 118.07 | Commission or Financial Supervisor - Powers and Duties.
Section 118.08 | Powers, Duties, and Functions of Financial Planning and Supervision Commission.
Section 118.09 | Paying Expenses and Obligations.
Section 118.10 | Developing Effective Financial Accounting and Reporting System.
Section 118.12 | Failure to Submit Plan.
Section 118.13 | Appropriations May Not Be Contrary to Financial Plan.
Section 118.14 | Commission Communications.
Section 118.15 | Prior Approval of Debt Obligations.
Section 118.16 | Bond Anticipation Notes.
Section 118.17 | Issuing Local Government Fund Notes.
Section 118.18 | Debt Obligation Definitions.
Section 118.19 | Using Special Provisions for Debt Obligations.
Section 118.20 | Authorizing Debt Obligations.
Section 118.21 | Rights and Remedies of the Holders of Debt Obligations.
Section 118.22 | Pledge and Agreement of State With and for Benefit of Holders of Debt Obligations.
Section 118.23 | Current Revenue Notes Issued During Fiscal Emergency Period.
Section 118.24 | Issuing Advance Tax Payment Notes.
Section 118.25 | Invest in Current Revenue Notes.
Section 118.26 | Debt Obligations.
Section 118.27 | Continued Existence of Commission.
Section 118.28 | Severability - Construction.
Section 118.31 | Legal Action to Dissolve a Municipal Corporation or Township.