Effective: November 19, 1971
Latest Legislation: Senate Bill 166 - 109th General Assembly
In the discretion of a regional water and sewer district, any water resource revenue bonds or notes or water resource revenue refunding bonds or notes issued under Chapter 6119. of the Revised Code may be secured by a trust agreement between the district and a corporate trustee, which trustee may be any trust company or bank having the powers of a trust company within or without the state.
Any such trust agreement may pledge or assign revenues of the district to be received, but shall not convey or mortgage any water resource project or any part thereof. Any such trust agreement or any resolution providing for the issuance of such bonds or notes may contain such provisions for protecting and enforcing the rights and remedies of the bondholders or noteholders as are reasonable and proper and not in violation of law, including covenants setting forth the duties of the district in relation to the acquisition of property, the construction, improvement, maintenance, repair, operation, and insurance of the water resource project or projects in connection with which such bonds or notes are authorized, the rentals or other charges to be imposed for the use or services of any water resource project, the custody, safeguarding, and application of all moneys, and provisions for the employment of consulting engineers in connection with the construction or operation of such water resource project or projects. Any bank or trust company incorporated under the laws of this state which may act as depository of the proceeds of bonds or notes or of revenues may furnish such indemnifying bonds or may pledge such securities as are required by the district. Any such trust agreement may set forth the rights and remedies of the bondholders and noteholders and of the trustee, and may restrict the individual right of action by bondholders and noteholders as is customary in trust agreements or trust indentures securing similar bonds or notes. Such trust agreement may contain such other provisions as the district considers reasonable and proper for the security of the bondholders or noteholders. All expenses incurred in carrying out the provisions of any such trust agreement may be treated as a part of the cost of the operation of the water resource project or projects. Any such trust agreement or resolution may provide the method whereby the general administrative overhead expenses of the district shall be allocated among the several projects acquired or constructed by it as a factor of the operation expense of each such project.
Last updated October 21, 2022 at 4:23 PM
Structure Ohio Revised Code
Title 61 | Water Supply-Sanitation-Ditches
Chapter 6119 | Regional Water and Sewer Districts
Section 6119.01 | Regional Water and Sewer District Organization.
Section 6119.011 | Regional Water and Sewer District Definitions.
Section 6119.02 | Procedure for Organization.
Section 6119.03 | Common Pleas Court Assigned to District.
Section 6119.04 | Hearing on Petition for Establishment.
Section 6119.05 | Application for Inclusion of Territory.
Section 6119.051 | Petition for Modification of District.
Section 6119.06 | Rights, Powers, and Duties of Trustees of District.
Section 6119.061 | Continuing Jurisdiction Over Water Resource Projects.
Section 6119.07 | Board of Trustees Vested With Power to Run District.
Section 6119.071 | Grounds for Removal of Member of Board of Trustees.
Section 6119.08 | Rules and Regulations of the District.
Section 6119.09 | Use or Service Agreements.
Section 6119.091 | Rental Discounts.
Section 6119.10 | Competitive Bidding for Certain Contracts.
Section 6119.101 | Regional Water and Sewer District Contract Requirements.
Section 6119.11 | Eminent Domain Powers.
Section 6119.111 | Acquisition of Interests in Land.
Section 6119.12 | Water Resource Revenue Bonds and Notes.
Section 6119.13 | Exemption From Bond Laws.
Section 6119.14 | Securing Bonds and Notes by Trust Agreements.
Section 6119.141 | Rights of Holders of Water Resource Revenue Bonds or Notes or Trustees.
Section 6119.151 | Deposit of Funds.
Section 6119.16 | Investment in United States Notes, Bonds, or Other Obligations.
Section 6119.17 | Tax Levy to Pay Interest on and to Retire Bonds.
Section 6119.18 | Tax Levy for Current Expenses of District.
Section 6119.19 | System of Sanitary And/or Storm Water Sewerage.
Section 6119.20 | Division of District Into Sewer Districts for Securing Efficient Sewerage.
Section 6119.21 | Plan to Show Main Sewers and All Branch Sewers.
Section 6119.22 | Notice of and Examination of Plan.
Section 6119.23 | Plan Amendment.
Section 6119.24 | Designate Portions of Work Required for Immediate Use.
Section 6119.25 | Publication of Resolution of Necessity.
Section 6119.26 | Resolution for Proceeding for Improvement.
Section 6119.27 | Assessment and Collection of Assessment.
Section 6119.28 | Construction Contracts Award and Payment.
Section 6119.30 | Anticipation Bonds and Notes.
Section 6119.31 | Resolution for Tax Levy.
Section 6119.32 | Election on Tax Levy.
Section 6119.33 | Funds and Proceed Appropriated From Levy.
Section 6119.34 | Right of Entry.
Section 6119.35 | Environmental Protection Agency to Approve or Reject Plans.
Section 6119.36 | Issuing Securities in Lieu Submitting Tax Levy to Electors.
Section 6119.37 | Civil Service Status of Employees.
Section 6119.38 | Auditing by State Auditor.
Section 6119.39 | Public Employees Retirement System Members.
Section 6119.40 | Exemption From Taxes.
Section 6119.41 | Power to Contract.
Section 6119.42 | Levy and Collection of Special Assessments.
Section 6119.43 | Purposes of Special Assessments.
Section 6119.44 | Description of Property to Be Assessed.
Section 6119.45 | Payment of Assessments by Annual Installments.
Section 6119.46 | Filing of Resolution of Necessity for Special Assessments.
Section 6119.47 | Notice of Estimates of Special Assessments.
Section 6119.48 | Objection to Special Assessments.
Section 6119.49 | Assessment Equalization Board Appointment and Duties.
Section 6119.50 | Claims for Damages.
Section 6119.51 | Resolution of Intent to Proceed With Special Assessment Improvement.
Section 6119.52 | Revision and Finalization of Assessments.
Section 6119.53 | Penalty and Interest.
Section 6119.54 | Collection of Special Assessments.
Section 6119.55 | Proceedings for Recovery of Assessment.
Section 6119.56 | Lien of Assessment or Any Installment.
Section 6119.57 | Additional Assessment to Supply Deficiencies.