Effective: September 29, 2007
Latest Legislation: House Bill 119 - 127th General Assembly
Securities issued under section 167.101 of the Revised Code are special obligation securities and are not general obligations of the state, the issuing qualifying council, the members of the issuing qualifying council, or any political subdivision of the state. Such securities shall not constitute debt for which the full faith and credit of the state, the issuing qualifying council, the members of the issuing qualifying council, or any political subdivision of the state may be pledged. The holder or owner of the securities shall have no right to have money raised by taxation by the state or any political subdivision of the state obligated or pledged, and money so raised shall not be obligated or pledged, for the payment of principal or interest or premium on such securities, and each security shall bear on its face a statement to that effect. Money received by the qualifying council pursuant to section 167.06 of the Revised Code shall not be considered money raised by taxation.
Structure Ohio Revised Code
Chapter 167 | Regional Councils of Governments
Section 167.01 | Regional Councils of Government.
Section 167.04 | Adoption of By-Laws.
Section 167.041 | Infrastructure Loans.
Section 167.05 | Employing Personnel.
Section 167.06 | Financing Programs and Operations.
Section 167.07 | Membership Not a Public Office.
Section 167.08 | Contracts for Service.
Section 167.081 | Authority of Regional Council to Contract on a per Unit Basis.
Section 167.10 | Qualifying Council Defined - General Powers.
Section 167.101 | Issuance of Securities by Qualifying Council.
Section 167.102 | Qualifying Council Securities as Special Obligations.
Section 167.103 | Documents Executed by Qualifying Council Officers.
Section 167.104 | Maximum Maturity of Qualifying Council Securities.
Section 167.105 | Application of Laws Governing State-Issued Securities.