Effective: May 17, 2021
Latest Legislation: House Bill 2 - 134th General Assembly
If the special assessments are to be paid in one annual installment, the taxing authority of a subdivision may issue securities in anticipation of its levy or collection of special assessments to pay the costs of the subdivision's broadband funding gap portion for an eligible project under sections 122.40 to 122.4077 of the Revised Code, lighting, sprinkling, sweeping, cleaning, providing related or similar services or the services described in section 727.011 of the Revised Code, or of removing snow, ice, and debris from, or treating the surface of, streets, alleys, and public ways and places.
Such securities shall not be general obligations of the issuing subdivision, and shall not pledge to the payment of debt charges any receipts other than the special assessments anticipated, except that a municipal corporation, without incurring debt subject to direct or indirect debt limitations, may also pledge and apply proceeds of its municipal income tax to pay those debt charges. No property tax shall be levied or pledged for the payment of debt charges on the securities. The securities shall mature no later than the last day of December of the year in which the special assessments anticipated are scheduled to be collected.
The legislation authorizing the securities shall appropriate the special assessments anticipated, and such special assessments shall be deemed to be pledged and appropriated, first to the payment of the debt charges on the securities. After provision has been made for the payment in full of those debt charges, the balance of the special assessments may be appropriated and applied for the purposes for which they were levied.
Last updated June 9, 2021 at 10:45 AM
Structure Ohio Revised Code
Chapter 133 | Uniform Public Securities Law
Section 133.01 | Uniform Public Securities Law Definitions.
Section 133.02 | Public Securities Are Negotiable Instruments.
Section 133.03 | Public Securities Are Lawful Investments.
Section 133.04 | Net Indebtedness of Subdivision - Certain Securities Not Considered in Calculation.
Section 133.061 | Net Securities Indebtedness of School District.
Section 133.07 | Net Indebtedness of County - Certain Securities Not Considered in Calculation.
Section 133.08 | County Revenue Securities.
Section 133.081 | Issuing Sales Tax Supported Bonds of County.
Section 133.082 | Securities Issued in Anticipation of Taxes Collected.
Section 133.083 | Tourism Development District Revenue Supported Bonds.
Section 133.09 | Net Indebtedness of Township - Certain Securities Not Considered in Calculation.
Section 133.10 | Anticipation Securities.
Section 133.11 | Issuing General Obligation Securities of County.
Section 133.12 | Issuing General Obligation Securities to Meet Emergencies.
Section 133.14 | Issuance of Securities to Pay Final Judgment.
Section 133.15 | Issuance of Securities to Pay for Permanent Improvements.
Section 133.151 | Issuing Self-Supporting Securities.
Section 133.16 | Capitalized Interest May Be Included in the Principal Amount of Securities.
Section 133.17 | Anticipation Securities for Special Assessments.
Section 133.18 | Submission of Question of Issuance of General Obligation Bonds to Electors.
Section 133.19 | Fiscal Officer of Subdivision to Certify Estimate of Maximum Maturity.
Section 133.20 | Maximum Maturity.
Section 133.21 | Paying Principal Amount of Securities in Installments.
Section 133.22 | Authorizing Anticipatory Securities.
Section 133.23 | Legislation Authorizing Issuance of Anticipatory Securities.
Section 133.25 | Levying Property Tax to Debt Charges on Securities Payable From Property Taxes.
Section 133.26 | Securities to Contain Statement of Purposes and Authorization.
Section 133.27 | Signing Securities.
Section 133.30 | Sale of Securities.
Section 133.31 | Delivering Securities.
Section 133.32 | Depositing Proceeds From Sale.
Section 133.33 | Furnishing of Transcript of Proceedings to Purchaser.
Section 133.34 | Refunding Securities.
Section 133.35 | Exchange of Securities in Depositories.
Section 133.36 | Refunding of Securities Under Bankruptcy Act.
Section 133.37 | Refunding Special Assessment Bonds.
Section 133.38 | Proceedings When Anticipatory Securities Remain Unsold.
Section 133.39 | Issuance of Duplicate Security, Check or Warrant - Alternative.
Section 133.40 | Exchange Procedures for Securities.
Section 133.41 | Register of Fully Registered Securities - Payment of Debt Charges - Transfers.
Section 133.42 | Registration of Coupon Securities - Transfer.
Section 133.50 | Delivery of Bonds.
Section 133.51 | Issuing Public Obligations for Housing Purposes.
Section 133.52 | Public Obligations for Conservation/revitalization Purposes.
Section 133.54 | Refunding Serial Bonds - Reassessment - Taxpaying Period - Rate of Interest.
Section 133.55 | Notice of Reassessment - Tax Duplicate - Objections - Hearing.
Section 133.56 | Levy - Certification - Payment and Collection of Reassessments - Exception.
Section 133.60 | Issuing Bonds to Acquire Agricultural Easements.
Section 133.61 | Issuing General Obligation Bonds to Acquire Agricultural Easements.
Section 133.70 | Complaint for Validation of Authority to Issue or Enter Into Securities.