Effective: March 7, 1997
Latest Legislation: Senate Bill 82 - 121st General Assembly
All bonds, notes, or other written instruments provided for in section 3347.04 of the Revised Code shall have all of the qualities and incidents of negotiable instruments and the bonds, notes, or other written instruments are exempt from all taxation, state and municipal. The bonds, notes, or other written instruments are lawful investments of banks, savings banks, trust companies, trustees, trustees of sinking funds of municipal corporations and counties, and domestic insurance companies notwithstanding sections 3907.14 and 3925.08 of the Revised Code, and are acceptable as security for the deposit of public moneys.
Such bonds, notes, and other written instruments may be issued in coupon or in registered form or both, as the issuing commission may determine. Provisions may be made for the registration of any of the bonds, notes, or other written instruments in the name of the owner as to principal alone and as to both principal and interest, and for exchange between those in coupon form and those in fully registered form. The issuing housing commission may sell the bonds, notes, or other written instruments in a manner and for the price it determines to be for its best interest, but they shall be sold for not less than par, with accrued interest to date of sale.
Structure Ohio Revised Code
Title 33 | Education-Libraries
Chapter 3347 | University Housing Commissions
Section 3347.01 | University Housing Commissions.
Section 3347.02 | Reimbursement for Expenses of Members - Organization of Commission.
Section 3347.03 | Acquisition or Use of Property or State Lands for Housing Purposes.
Section 3347.04 | Issuance of Bonds, Notes or Other Written Instruments.
Section 3347.06 | Buildings Rented by Housing Commission.
Section 3347.07 | Rentals to Be Placed in Separate Sinking Fund - Use of Money in Fund.
Section 3347.071 | Bonds or Notes Secured by a Trust Agreement.
Section 3347.08 | Conveyance of Buildings and Lands to the State.
Section 3347.09 | Leases or Subleases - State Not Obligated.
Section 3347.091 | Location of University Housing, Dining, and Recreation Facilities.
Section 3347.10 | Authority of Commission to Grant the Use of Lands.