Ohio Revised Code
Chapter 175 | Housing Finance Agency
Section 175.13 | Enforcement of Agreement With Bondholders - Tax-Exempt Status of Bonds.

Effective: July 1, 2005
Latest Legislation: House Bill 431 - 125th General Assembly
(A) Any agreement the Ohio housing finance agency enters into with bondholders is a contract that the agency shall enforce and no action of the general assembly or any state agency may limit or alter the terms of that agreement or the authority of the agency or its successors to fulfill the terms of that agreement. No state agency may impair any right or remedy of the holders of bonds until the agency has fully met and discharged its bond obligations, together with interest, interest on any unpaid installments of interest, and costs and expenses related to any bondholder action or proceeding. The agency may include in any bond agreement a statement that sets forth the agency's authority to enforce agreements pursuant to this section.
(B) Bonds the agency issues are at all times bonds of the state, subject to this chapter. The agency and officers of the state may do all things necessary so that the interest on bonds the agency intends to be exempt from federal taxation remains exempt from federal income taxation. Any error or failure in efforts to assure tax exemption does not affect the validity of the bonds.

Structure Ohio Revised Code

Ohio Revised Code

Title 1 | State Government

Chapter 175 | Housing Finance Agency

Section 175.01 | Definitions.

Section 175.02 | Housing Finance Agency Created - Mission.

Section 175.03 | Members - Appointment - Terms - Compensation.

Section 175.04 | Officers - Quorum - Records - Annual Reports.

Section 175.05 | General Duties and Powers - Attorney General as Legal Representative.

Section 175.051 | Housing Finance Agency Personal Services Fund.

Section 175.052 | Preference to Grants or Loans for Activities That Provide Housing and Housing Assistance to Honorably Discharged Veterans.

Section 175.053 | Duties of Executive Director.

Section 175.06 | Program Duties and Powers - Bonds and Financial Assistance.

Section 175.07 | Notice by Applicant for Funding for Multifamily Rental Housing Construction.

Section 175.08 | Housing Finance Agency Bonds - Proceeds - Sale - Liability - Negotiability.

Section 175.09 | Securing Bonds.

Section 175.10 | Bonds Are Lawful Investments.

Section 175.11 | Housing Development Fund.

Section 175.12 | Liberal Construction of Chapter - Public Records Law - Interagency Cooperation.

Section 175.13 | Enforcement of Agreement With Bondholders - Tax-Exempt Status of Bonds.

Section 175.14 | Inclusion of Reduction of Infant Mortality as Priority Housing Need in Annual Plan.

Section 175.15 | Inclusion of Pregnancy as Priority in Housing Assistance and Local Emergency Shelter Programs.

Section 175.30 | Definitions.

Section 175.31 | Grants for Grads Program.

Section 175.32 | Down Payment Lien.