Effective: October 20, 1994
Latest Legislation: House Bill 250 - 120th General Assembly
Any political subdivision, taxing district, or other public body of this state, without competitive bidding, may convey or exchange with the Ohio rail development commission, for use in connection with a project, any or all of its interests in real or personal property, or both, not needed by the grantor. The interest in such property to be conveyed shall be appraised at its fair market value and such appraisal value shall be the conveyance price. The appraised fair market value of any property exchanged under this section shall be substantially equal to the aggregate of the appraised fair market value of the property for which it is exchanged and any moneys paid to the grantor in consideration of such exchange. The political subdivision, taxing district, or other public body shall prescribe the form of its deed.
Structure Ohio Revised Code
Chapter 4981 | Rail Development Commission
Section 4981.01 | Rail Development Commission Definitions.
Section 4981.02 | Ohio Rail Development Commission.
Section 4981.03 | Duties of Rail Development Commission.
Section 4981.031 | Applying for Federal Loans.
Section 4981.032 | Issuing Grants and Loans.
Section 4981.033 | Indemnification - Liability Insurance Coverage.
Section 4981.05 | Application for Loans or Other Assistance.
Section 4981.06 | Acquiring Property, Facilities, or Equipment.
Section 4981.07 | Restoration, Repair, Relocation, or Upgrading Rail Property.
Section 4981.08 | Sale, Transfer, or Lease of Rail Property.
Section 4981.09 | Rail Development Fund.
Section 4981.091 | Federal Rail Fund.
Section 4981.10 | Conditions for Purchasing Property, Facilities or Equipment.
Section 4981.11 | Bond Proceedings Definitions.
Section 4981.12 | Financing Rail Service.
Section 4981.13 | Issuing Loans and Bonds to Finance Rail Projects.
Section 4981.131 | Borrowing and Bond Power Not Exclusive.
Section 4981.14 | Powers of Rail Development Commission.
Section 4981.15 | Bonds Not a Debt of State.
Section 4981.16 | Determinations in Connection With Issuance of Bonds.
Section 4981.17 | Securing Bonds by Trust Agreement or Indenture of Mortgage.
Section 4981.18 | Protection and Enforcement of Rights of Bondholder and Trustees.
Section 4981.19 | Bonds Are Lawful Investments.
Section 4981.21 | Special Assessment Installments.
Section 4981.22 | Issuing Refunding Bonds.
Section 4981.24 | Conveying Public Property to Rail Development Commission.
Section 4981.25 | Designation of Corporation as Agent of State.
Section 4981.26 | Waiver of Other Laws.
Section 4981.28 | Development of Rail Service by Private Corporations.
Section 4981.29 | Encouraging Private Participation.
Section 4981.30 | Applying for and Award of Franchises.
Section 4981.31 | Franchise for Rail System.
Section 4981.32 | Authority Granted by Franchise Agreement.
Section 4981.33 | Review and Monitoring of Franchisee.