Effective: October 1, 1953
Latest Legislation: House Bill 1 - 100th General Assembly
The funds derived from the sale of notes under section 139.11 of the Revised Code shall be placed in a permanent rotating fund, to be established by the legislative authority of such county or municipal corporation by resolution or ordinance. Such resolution or ordinance shall provide that such fund shall be used for the purchase of federal food order stamps and shall be conducted and kept in such manner as will at any time, upon short notice, show assets equal to the total amount of such notes outstanding and unpaid. Said assets shall consist of the inventory of stamps on hand and the balance of cash in the fund.
Structure Ohio Revised Code
Chapter 139 | Federal Aid Bonds; Food Stamp Plan
Section 139.01 | Federal Aid Defined.
Section 139.03 | Proceeds May Be Used for Permanent Improvements.
Section 139.04 | Each Project Submitted Separately - per Cent Necessary for Adoption.
Section 139.11 | Subdivisions May Issue Notes to Participate in Plan of Distributing Surplus Foods.