Ohio Revised Code
Chapter 3381 | Arts and Cultural Affairs
Section 3381.08 | Issuance of Bonds - Purposes for Issuance - Anticipation Notes.

Effective: October 30, 1989
Latest Legislation: House Bill 230 - 118th General Assembly
The regional arts and cultural district may submit to the electors within its territory the question of issuing bonds of such district and also the necessity of a tax outside the limitation of Section 2 of Article XII, Ohio Constitution, to pay the interest on and to retire such bonds. Such bonds when approved by the electors may be issued by the district to purchase, acquire, construct, replace, improve, extend, enlarge, renovate, remodel, equip, or furnish any artistic or cultural facility, provided that the net indebtedness, as defined for a municipal corporation in section 133.05 of the Revised Code, incurred by a district shall never exceed five per cent of the tax valuation of the district, and that no part of the proceeds of such bonds shall at any time be used to meet or defray any of the normal operating expenses of the district or any qualifying arts or cultural organization. The proceedings for such election and for the issuance and sale of such bonds shall be as provided by Chapter 133. of the Revised Code, provided that such a bond issue may be submitted to the electors and the bonds may be issued for any one or more of the purposes set forth in this section. Notes may be issued in anticipation of such bonds as provided in section 133.22 of the Revised Code. The board of trustees shall be the taxing authority or bond issuing authority of the district.

Structure Ohio Revised Code

Ohio Revised Code

Title 33 | Education-Libraries

Chapter 3381 | Arts and Cultural Affairs

Section 3381.01 | Arts and Cultural Affairs Definitions.

Section 3381.02 | Creation of Regional Arts and Cultural District - District Is Political Subdivision.

Section 3381.03 | District Created by Adoption of Resolution or Ordinance - Inclusion of Additional Territory.

Section 3381.04 | District Created in County Containing City With Population of 500,000 or More.

Section 3381.05 | Appointment of Board of Trustees.

Section 3381.051 | Organization and Meetings.

Section 3381.06 | Power and Authority of Board of Trustees.

Section 3381.07 | Board of Trustees - Powers and Duties.

Section 3381.08 | Issuance of Bonds - Purposes for Issuance - Anticipation Notes.

Section 3381.09 | Bonds to Be Free From State Taxation.

Section 3381.10 | Duties and Bond of Executive Director.

Section 3381.11 | Contracts Which Do and Do Not Require Competitive Bidding Procedure.

Section 3381.12 | Contracts or Arrangements With Governmental Bodies or With Corporations.

Section 3381.13 | Status of Employees.

Section 3381.14 | Procurement of Medical Insurance for Employees and Dependents.

Section 3381.15 | County Commissioners May Appropriate Annually Portion of Expense of District.

Section 3381.16 | Tax Levy.

Section 3381.17 | Annual Grants to Arts or Cultural Organizations - Limitation - Suggestions of Area Arts Council.

Section 3381.19 | Conveyances, Leases or Exchanges of Property Between District and Political Subdivision or Qualified Organization Without Competitive Bidding.

Section 3381.20 | District Exempted From Property Taxes - Exception.

Section 3381.21 | Cooperation With Governmental Agencies.

Section 3381.22 | Provision for Dissolution of District or Dissolution by Board.