Effective: September 29, 2017
Latest Legislation: House Bill 49 - 132nd General Assembly
(A) The Ohio facilities construction commission shall cause to be transferred to the school district's project construction fund the necessary amounts from amounts appropriated by the general assembly and set aside for such purpose, from time to time as may be necessary to pay obligations chargeable to such fund when due. All investment earnings of a school district's project construction fund shall be credited to the fund.
(B)(1) The treasurer of the school district board shall disburse funds from the school district's project construction fund, including investment earnings credited to the fund, only upon the approval of the commission or the commission's designated representative. The commission or the commission's designated representative shall issue vouchers against such fund, in such amounts, and at such times as required by the contracts for construction of the project.
(2) Notwithstanding anything to the contrary in division (B)(1) of this section, the school district board may, by a duly adopted resolution, choose to use all or part of the investment earnings of the district's project construction fund that are attributable to the district's contribution to the fund to pay the cost of classroom facilities or portions or components of classroom facilities that are not included in the district's basic project cost but that are related to the district's project. If the district board adopts a resolution in favor of using those investment earnings as authorized under division (B)(2) of this section, the treasurer shall disburse the amount as designated and directed by the board. However, if the district board chooses to use any part of the investment earnings for classroom facilities or portions or components of classroom facilities that are not included in the basic project cost, as authorized under division (B)(2) of this section, and, subsequently, the cost of the project exceeds the amount in the project construction fund, the district board shall restore to the project construction fund the full amount of the investment earnings used under division (B)(2) of this section before any additional state moneys shall be released for the project.
(C) After a certificate of completion has been issued for a project under section 3318.48 of the Revised Code:
(1) At the discretion of the school district board, any investment earnings remaining in the project construction fund that are attributable to the school district's contribution to the fund shall be:
(a) Retained in the project construction fund for future projects;
(b) Transferred to the district's maintenance fund required by division (B) of section 3318.05 or section 3318.43 of the Revised Code, and the money so transferred shall be used solely for maintaining the classroom facilities included in the project;
(c) Transferred to the district's permanent improvement fund.
(2) Any investment earnings remaining in the project construction fund that are attributable to the state's contribution to the fund shall be transferred to the commission for expenditure pursuant to sections 3318.01 to 3318.20 or sections 3318.40 to 3318.45 of the Revised Code.
(3) Any other surplus remaining in the school district's project construction fund shall be transferred to the commission and the school district board in proportion to their respective contributions to the fund. The commission shall use the money transferred to it under this division for expenditure pursuant to sections 3318.01 to 3318.20 or sections 3318.40 to 3318.45 of the Revised Code.
(D) Pursuant to appropriations of the general assembly, any moneys transferred to the commission under division (C)(2) or (3) of this section from a project construction fund for a project under sections 3318.40 to 3318.45 of the Revised Code may be used for future expenditures for projects under sections 3318.40 to 3318.45 of the Revised Code, notwithstanding the two per cent annual limit specified in division (B) of section 3318.40 of the Revised Code.
Structure Ohio Revised Code
Title 33 | Education-Libraries
Chapter 3318 | School Facilities
Section 3318.01 | Bond Issues and Tax Levy Definitions.
Section 3318.011 | Ranking Districts in Order of Adjusted Valuation per Pupil From District.
Section 3318.02 | Periodic Assessment of Classroom Facility Needs - On-Site Visits.
Section 3318.022 | District Not Yet Eligible for State Assistance May Request Assessment.
Section 3318.024 | Use of Unspent and Unencumbered Funds.
Section 3318.031 | Commission to Consider Student and Staff Safety and Health.
Section 3318.032 | Portion of Basic Project Cost Supplied by School District.
Section 3318.033 | Recalculation of District Percentile Ranking.
Section 3318.034 | Division of District Classroom Needs Into Segments.
Section 3318.035 | Change of Assessment Rates on Gas Pipelines.
Section 3318.036 | Priority for Project Funding.
Section 3318.038 | Water Bottle Filling Stations and Drinking Fountains.
Section 3318.04 | Conditional Approval; Encumbering Funds.
Section 3318.041 | District May Adopt and Certify Proposed Project.
Section 3318.042 | Additional Assistance.
Section 3318.051 | Alternative Funding for State-Assisted Classroom Projects.
Section 3318.053 | Use of Tax Proceeds on Improvements Not Included in Basic Project Cost.
Section 3318.055 | Maintenance Tax Not Be Included on Ballot Proposal.
Section 3318.056 | Combining Questions on Tax Levy Ballot.
Section 3318.061 | Resolution Proposing Extension of Existing Tax Levy.
Section 3318.063 | Rescission of Alternative Funding Agreement - Tax Levy.
Section 3318.07 | Certification of Election Results to Tax Commissioner.
Section 3318.081 | Supplemental Agreement With Ohio Facilities Construction Commission.
Section 3318.082 | Supplemental Agreement for Distributing Certain Tax Proceeds.
Section 3318.083 | Sharing of Approved Increase in Basic Project Cost.
Section 3318.084 | Applying Local Donated Contribution Toward Project.
Section 3318.086 | Contingency Reserve.
Section 3318.091 | Issuing Bonds; Preparing of Plans and Estimates.
Section 3318.10 | Advertising and Awarding of Construction Bids.
Section 3318.112 | Standards for Solar-Ready Equipment.
Section 3318.12 | Transfer and Disbursement of Funds.
Section 3318.121 | Transfer of Earnings From Big-8 Project Fund to Special Fund.
Section 3318.13 | Including Balance Due in District Tax Budget.
Section 3318.14 | County Treasurer to Pay Proceeds of Tax Levy.
Section 3318.15 | Public School Building Fund.
Section 3318.17 | Rate and Maximum Period of Tax Levies.
Section 3318.18 | Statewide Average Valuation per Pupil - Half-Mill Equalization Fund.
Section 3318.20 | Constitutionality.
Section 3318.21 | Educational Revitalization of Certain Districts Definitions.
Section 3318.25 | School Building Program Assistance Fund.
Section 3318.26 | Issuing Obligations of State.
Section 3318.28 | Alternative, Supplemental Provisions.
Section 3318.29 | Maximum Maturity and Terms of Obligations.
Section 3318.351 | School Building Emergency Assistance Program.
Section 3318.36 | School Building Assistance Expedited Local Partnership Program.
Section 3318.361 | Proposing Tax Levy for Expedited Local Partnership Program Purposes.
Section 3318.362 | Term of Bonds.
Section 3318.363 | Tax Valuation Decrease.
Section 3318.37 | Exceptional Needs School Facilities Assistance Program.
Section 3318.38 | Accelerated Urban School Building Assistance Program.
Section 3318.39 | 1:1 School Facilities Option Program.
Section 3318.40 | Vocational School Facilities Assistance Program.
Section 3318.41 | Annual Assessment of Needs.
Section 3318.42 | Selecting Districts for Assistance.
Section 3318.43 | Moneys Dedicated to Maintenance of Classroom Facilities.
Section 3318.44 | Generating District's Portion of Basic Project Cost.
Section 3318.47 | Transfer of Amounts to Rc 3318.15 Fund.
Section 3318.48 | Certificate of Completion.
Section 3318.49 | Corrective Action Program.
Section 3318.50 | Community School Classroom Facilities Loan Guarantee Program.
Section 3318.52 | Community School Classroom Facilities Loan Guarantee Fund.
Section 3318.60 | College-Preparatory Boarding School Facilities Program.
Section 3318.62 | Agreements to Provide Facilities Assistance; Mandatory Stipulations.
Section 3318.70 | Funding to Assist Stem Schools in the Acquisition of Classroom Facilities.