Effective: March 17, 1989
Latest Legislation: House Bill 584 - 117th General Assembly
(A) The treasurer of state may create a taxable investment pool or a tax-exempt investment pool, or both, for the purpose of providing a procedure for the temporary investment of bond proceeds. The pool shall be in the custody of the treasurer of state.
(B) A treasurer, governing board, or investing authority of a subdivision, or any agency of the state that has debt-issuing authority may pay bond proceeds into either or both of the pools authorized under division (A) of this section.
(C) The treasurer of state shall invest the funds of the taxable investment pool authorized under division (A) of this section in the same manner, in the same types of instruments, and subject to the same limitations provided for the deposit and investment of interim moneys of the state and subdivisions under sections 135.14 and 135.141 of the Revised Code. The treasurer also may invest in any other taxable obligations issued by any political subdivision of the state.
(D) The treasurer of state shall invest the funds of the tax-exempt investment pool in debt obligations and participation interests in such obligations, if all of the following apply:
(1) The obligations are issued by or on behalf of any state of the United States, or any political subdivision, agency, or instrumentality of any such state;
(2) The interest on such obligations is exempt from federal income taxation;
(3) The obligations are rated in either of the two highest classifications established by at least one nationally recognized standard rating service.
(E)(1) The treasurer of state shall, pursuant to Chapter 119. of the Revised Code, adopt such rules as are necessary to carry out the purposes of this section and for the efficient administration and accounting of a pool established pursuant to division (A) of this section.
(2) The rules shall provide for the administrative expenses of such pool to be paid from its earnings and for the interest earnings in excess of such expenses to be credited to the several treasurers, governing boards, investing authorities, and agencies of the state participating in the pool in a manner that equitably reflects the differing amounts of their respective investments in the pool and the differing periods of time for which such amounts are in the pool.
(3) The rules shall establish standards governing pools authorized under division (A) of this section, taking into consideration all federal rebate and yield restrictions and the objective of maintaining a high degree of safety and liquidity.
(F) Upon creating a pool authorized under division (A) of this section, the treasurer of state shall give bond with sufficient sureties, payable to the treasurers, governing boards, and investing authorities of subdivisions and agencies of the state participating in the pool, for the benefit of the participating subdivisions and agencies, in the total penal sum of two hundred fifty thousand dollars, conditioned for the faithful discharge of his duties in relation to the pool.
(G) The treasurer of state and his bondsmen or surety are liable for the loss of any moneys of the state invested under this section through a pool established under division (A) of this section to the same extent the treasurer of state and his bondsmen or surety are liable for the loss of public moneys under section 135.19 of the Revised Code.
(H) As used in this section:
(1) "Governing board" has the same meaning as in section 135.01 of the Revised Code.
(2) "Interim moneys" has the same meaning as in section 135.01 of the Revised Code.
(3) "Investing authority" has the same meaning as in section 135.31 of the Revised Code.
(4) "Public moneys of a subdivision" has the same meaning as in section 135.01 of the Revised Code, but also includes "public moneys" as defined in section 135.31 of the Revised Code, and funds held in the custody of the treasurer of state notwithstanding any limitations on the permissible investments of such funds.
(5) "Subdivision" has the same meaning as in section 135.01 of the Revised Code, but also includes a county, or a municipal corporation that has adopted a charter under Article XVIII, Ohio Constitution.
(6) "Treasurer" has the same meaning as in sections 135.01 and 135.31 of the Revised Code.
Last updated September 3, 2021 at 10:47 AM
Structure Ohio Revised Code
Chapter 135 | Uniform Depository Act
Section 135.01 | Uniform Depository Act Definitions.
Section 135.02 | State Board of Deposit.
Section 135.03 | Institutions Eligible as Public Depositories.
Section 135.032 | Disqualification as Depository.
Section 135.04 | Eligibility for State Deposits - Warrant Clearance Accounts.
Section 135.05 | Estimate of Inactive Deposits.
Section 135.06 | Application for Inactive Deposits.
Section 135.07 | Award of Inactive Deposits.
Section 135.08 | Application for Interim Deposits.
Section 135.09 | Award of Interim Deposits.
Section 135.10 | Application for Active Deposits.
Section 135.101 | Savenow Program Definitions.
Section 135.102 | Purpose of Savenow Program.
Section 135.103 | Investment in Savenow Linked Deposits.
Section 135.104 | Resident Participation in Savenow Program.
Section 135.105 | Offer of Savenow Accounts to Residents.
Section 135.106 | Immunity of State - Effect of Misconduct on Deposit Agreement.
Section 135.11 | Exemption From Prohibition Against Interest in Contract.
Section 135.12 | Designating Depositories Biennially.
Section 135.13 | Evidence of Inactive and Interim Deposits.
Section 135.14 | Investing Interim Moneys of Public Subdivisions.
Section 135.141 | Municipal Corporation May Invest Interim Moneys in Linked Deposits.
Section 135.142 | Board of Education Investment of Interim Moneys.
Section 135.143 | Investment Authority for State Interim Funds.
Section 135.144 | Investment of Interim Moneys in Federally Insured Certificates of Deposit.
Section 135.145 | Redeposit of Interim Moneys Moneys.
Section 135.15 | Transferring Funds From One Classification to Another.
Section 135.16 | Payment of Interest.
Section 135.17 | Cash Reserve.
Section 135.18 | Security for Repayment of Public Moneys.
Section 135.181 | Optional Pledging Requirements.
Section 135.182 | Ohio Pooled Collateral Program.
Section 135.19 | Failure of Public Depository.
Section 135.20 | Proportion of Deposits in Various Banks Subject to Reasonable Variation.
Section 135.21 | Investment Earnings Apportionment and Crediting.
Section 135.22 | Annual Continuing Education Programs for Treasurers.
Section 135.31 | County Depository Definitions.
Section 135.32 | Institutions Eligible as County Public Depositories.
Section 135.321 | Disqualification as County Depository.
Section 135.33 | Designating County Depositories Every Four Years.
Section 135.34 | Review of Investment Procedures Semiannually.
Section 135.341 | County Investment Advisory Committee.
Section 135.35 | County Inactive Moneys.
Section 135.351 | Crediting Interest.
Section 135.352 | County Library and Local Government Support Fund.
Section 135.353 | County May Invest Inactive Moneys in Linked Deposits.
Section 135.354 | Redeposit of Inactive Moneys.
Section 135.36 | Transferring County Funds From One Classification to Another.
Section 135.37 | Security for Repayment of County Public Moneys.
Section 135.38 | Exemption of County Officials From Prohibition Against Interest in Contract.
Section 135.39 | Exemption of County Officials From Liability.
Section 135.40 | County Cash Reserve.
Section 135.45 | State Treasurer's Investment Pool.
Section 135.451 | Investments of History Connection and Capitol Square Review and Advisory Board.
Section 135.46 | Investment Pools for Temporary Investment of Bond Proceeds.
Section 135.47 | Securities Lending Program - Fund.
Section 135.48 | Adoption of Rules.
Section 135.51 | Bank Defaulting as Public Depository; Retention and Disposition of Securities.
Section 135.53 | Surplus Assigned and Delivered to Defaulting Bank or Building and Loan Association.
Section 135.54 | Possession and Control of Securities Vested in Authorized Agent - Powers.
Section 135.61 | Linked Deposit Program Definitions.
Section 135.62 | Purpose of Linked Deposit Program.
Section 135.63 | Investing in Linked Deposit Programs.
Section 135.64 | Review of Loan Applications.
Section 135.65 | Accepting or Rejecting Loan Package.
Section 135.66 | Loan Rate - Monitoring Compliance.
Section 135.67 | Liability of State and State Treasurer.
Section 135.68 | Short-Term Installment Loan Linked Deposit Definitions.
Section 135.69 | Short-Term Installment Loan Linked Deposit Program.
Section 135.70 | Acceptance of Loan Package - Certificates of Deposit.
Section 135.71 | Agricultural Linked Deposit Definitions.
Section 135.72 | Purpose of Agricultural Linked Deposit Program.
Section 135.73 | Review of Loan Applications.
Section 135.74 | Accepting or Rejecting Loan Package.
Section 135.75 | Lending of Funds; Monitoring Compliance.
Section 135.76 | Liability of State and State Treasurer.
Section 135.77 | Definitions Regarding Business Linked Deposit Program.
Section 135.771 | Statement of Policy.
Section 135.772 | Participation by Lending Institutions.
Section 135.773 | Acceptance or Rejection by Treasurer of State.
Section 135.774 | Loan Rates; Implementation; Liability.
Section 135.78 | Adoption of Rules; Payment of Interest.
Section 135.79 | Adoption Linked Deposit Program-Definitions.
Section 135.791 | Legislative Findings and Intent.
Section 135.792 | Loan Applications and Packages.
Section 135.793 | Loan Package Review and Deposit Agreements.
Section 135.794 | Loan Execution and Treasurer's Oversight.
Section 135.796 | State Protected From Default.
Section 135.80 | Municipal, Port or Lake Facilities Authority, and County Linked Deposit Program.
Section 135.801 | Adopting Resolution Implementing Residential Facility Linked Deposit Program.
Section 135.802 | Contents of Resolution Implementing Residential Facility Linked Deposit Program.
Section 135.803 | Certifying Availability of Public Moneys.
Section 135.804 | Property Tax Payment Linked Deposit Programs Definitions.
Section 135.805 | Property Tax Payment Linked Deposit Programs.
Section 135.806 | Duties of Lending Institution on Receipt of Rc 135.805 Certificate.
Section 135.807 | Delivery of Lien Certificate to Eligible Lending Institution.
Section 135.81 | Housing Linked Deposit Program Definitions.
Section 135.82 | Purpose of Housing Linked Deposit Program.
Section 135.83 | Applying for Formation of Partnership With Treasurer of State.
Section 135.84 | Accepting or Rejecting Application.
Section 135.85 | Lending Institution - Duties Upon Placement of Housing Linked Deposit.
Section 135.86 | Monitoring Compliance.
Section 135.87 | Liability of State and State Treasurer.
Section 135.91 | Assistive Technology Device Linked Deposit Definitions.
Section 135.92 | Deposit Agreements.
Section 135.93 | Review of Loan Applications.
Section 135.95 | Accepting or Rejecting Loan Package.