Effective: September 28, 2012
Latest Legislation: House Bill 509 - 129th General Assembly
(A) Upon petition of the financial supervisor and approval of the financial planning and supervision commission, if any, the attorney general shall file a legal action in the court of common pleas on behalf of the state to dissolve a municipal corporation or township if all of the following conditions apply:
(1) The municipal corporation or township has a population of less than five thousand as of the most recent federal decennial census.
(2) The municipal corporation or township has been under a fiscal emergency for at least four consecutive years.
(3) Implementation of the financial plan of the municipal corporation or township required under this chapter cannot reasonably be expected to correct and eliminate all fiscal emergency conditions within five years.
(B) The court of common pleas shall hold a hearing within ninety days after the date on which the attorney general files the legal action with the court. Notice of the hearing shall be filed with the attorney general, the clerk of the village or the fiscal officer of the township that is the subject of the action, and each fiscal officer of a township located wholly or partly within the village subject to dissolution.
(C) If the court finds that all of the conditions described in division (A) of this section apply to the municipal corporation or township, it shall appoint a receiver. The receiver, under court supervision, shall work with executive and legislative officers of the municipal corporation or township to wind up the affairs of and dissolve the municipal corporation in accordance with section 703.21 of the Revised Code or the township in accordance with the process in section 503.02 and sections 503.17 to 503.21 of the Revised Code.
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.