Ohio Revised Code
Chapter 9 | Miscellaneous
Section 9.97 | Exemption of Bond Interest From Income Tax.

Effective: November 26, 1982
Latest Legislation: Senate Bill 550 - 114th General Assembly
(A) Any one of the governor, the lieutenant governor, the attorney general, the secretary of state, the treasurer of state, or the auditor of state, shall act as the applicable elected representative of the state for purposes of any federal law or United States treasury regulation that requires that bonds, notes, or other obligations of the state or any of its officers, boards, authorities, commissions, agencies, bodies, or other entities be approved by an applicable elected representative of the state or that other conditions be met in order for the interest income on such obligations to be exempt from federal income tax.
(B) Any municipal corporation, township, or county which, pursuant to state law, created or participated in the creation of any board, authority, commission, district, agency, body, corporation, or other entity which is authorized to issue bonds, notes, or other obligations is hereby expressly authorized to act for such issuer as the governmental unit on behalf of which such issuer issues bonds, notes, or other obligations or as the next higher governmental unit from which the authority of that issuer is derived for purposes of any federal law or United States treasury regulation which requires that bonds, notes, or other obligations of such issuer be approved by the applicable elected representative of such governmental unit or that other conditions be met in order for the interest income on such obligations to be exempt from federal income tax. In the event more than one municipal corporation, township, or county participated in the creation of any such issuer, any one such municipal corporation, township, or county, upon request of the issuer for such approval, shall be deemed to be the governmental unit on behalf of which such issuer acts or the next higher governmental unit for purposes of the preceding sentence in this division. For purposes of this division, "applicable elected representatives" means, in the case of a municipal corporation and in the case of a county which has a single chief elected executive officer, its chief elected executive officer or any one or more other elected official of the municipal corporation or such county designated by such officer to act, as an alternative to action by him, for the purposes set forth in this division. In the case of a township or county which has no single chief elected executive officer, the applicable elected representatives means, in the case of a township, its board of township trustees and, in the case of a county, its board of county commissioners, both of which act as the respective governmental unit's chief elected executive officer, or any one or more other elected official of each such governmental unit designated by the respective board to act, as an alternative to action by it, for the purposes set forth in this division.
(C) Approvals under this section shall be based solely upon findings of fact made by the issuer, shall be solely for the purposes of satisfying requirements of the federal law and United States treasury regulations, shall be final and conclusive for such purpose, and shall not constitute an exercise of functions conferred by law upon the issuer, which functions shall remain in the issuer.
(D) The authority granted by this section is in addition to and not a limitation upon other authorization granted by or pursuant to law or the constitution, and does not preclude any other actions by the designated or other bodies or officials which would satisfy the requirements of the federal law or United States treasury regulations, which actions are hereby authorized.

Structure Ohio Revised Code

Ohio Revised Code

General Provisions

Chapter 9 | Miscellaneous

Section 9.01 | Official Records - Preserving and Maintaining.

Section 9.02 | Inspection and Review of Financial Institution Records.

Section 9.03 | Newsletters of Political Subdivisions.

Section 9.04 | State Funds for Nontherapeutic Abortion Benefits.

Section 9.041 | Childbirth Preferred Over Abortion.

Section 9.06 | Private Operation and Management of Initial Intensive Program Prison.

Section 9.07 | Correctional Facility to House Out-of-State Prisoners.

Section 9.08 | Improper Internet Access - Private Correctional Facilities.

Section 9.10 | Facsimile Signature Defined.

Section 9.11 | Public Officials Using Facsimile Signature.

Section 9.12 | Validity of Instrument With Facsimile Signature.

Section 9.13 | Highway Project Not Located Within Subdivision Boundaries.

Section 9.14 | Loss of Funds Occasioned by Use of Duly Adopted Facsimile Signature.

Section 9.15 | Burial or Cremation of Body at Expense of Township or Municipal Corporation.

Section 9.16 | Governmental Use of Distributed Ledger Technology.

Section 9.20 | Receipt of Gift, Devise, or Bequest Moneys, Lands, or Other Properties by Public Authority.

Section 9.21 | Policies Regarding Political Subdivisions That Hold Credit Card Accounts.

Section 9.22 | Use of Debit Card Accounts.

Section 9.23 | Disbursements by Government Entities Definitions.

Section 9.231 | Disbursements Over $25,000 - Contract Required - Exceptions.

Section 9.232 | Contract for Disbursements.

Section 9.233 | Recipient of Disbursements Entitled Only to Contract Payment Earned.

Section 9.234 | Records and Reports by Recipient - Financial Review - Financial Audit.

Section 9.235 | Records Open to Government Inspection.

Section 9.236 | Recipient to Repay Excess Payment - Civil Action to Recover.

Section 9.237 | Rules Governing Terms of Disbursement Contracts.

Section 9.238 | Form for Financial Reviews and Rules for Audit Reports.

Section 9.239 | Allocation of Federal Energy Efficient Building Deduction.

Section 9.24 | Findings for Recovery.

Section 9.241 | Civil Action for Recovery of Money.

Section 9.242 | Debarred Vendors; Participation in State Contracts.

Section 9.25 | Purchase of Surplus Commodities From Federal Government.

Section 9.26 | Gifts or Grants of Federal Property.

Section 9.27 | State Contracts - Invalid Terms and Conditions.

Section 9.28 | Competitive Solicitation as Public Record.

Section 9.29 | Multi-Year Asset Management Professional Service Contracts.

Section 9.30 | Public Utility Service Without Bidding and Notice.

Section 9.31 | Erroneous Bids.

Section 9.311 | Bonds Accompanying Bid to Be Executed by Approved Surety.

Section 9.312 | Factors to Determine Whether Bid Is Responsive and Bidder Is Responsible.

Section 9.313 | Reduction of Performance Bond After Substantial Performance.

Section 9.314 | Purchasing Services or Supplies by Reverse Auction.

Section 9.315 | Requiring Particular Surety or Insurance Company or a Particular Agent or Broker on Public Bids Prohibited.

Section 9.316 | Injunctive Relief.

Section 9.317 | Purchase of Supplies or Services by Reverse Auction.

Section 9.32 | Notification of Surety and Agent of Construction Contract Award.

Section 9.33 | Construction Management Services Definitions.

Section 9.331 | Notice of Accepting Bids for Construction Manager or Construction Manager at Risk.

Section 9.332 | Selection of and Contract With Construction Manager.

Section 9.333 | Financial Assurance to Be Provided by Construction Manager.

Section 9.334 | Evaluation of Most Qualified Proposals; Pricing Proposals; Contract Negotiations.

Section 9.335 | Construction of Statutes With Other Code Provisions.

Section 9.34 | Fiscal Year and Period of State and Political Subdivisions.

Section 9.35 | Contracts for Ministerial Duties by Public Officials.

Section 9.36 | Contract for Services of Fiscal and Management Consultants.

Section 9.361 | Payroll Deduction Benefit Program.

Section 9.37 | Direct Deposits.

Section 9.38 | Deposit of Public Moneys.

Section 9.39 | Liability for Public Money Received or Collected - Unclaimed Money.

Section 9.40 | Payroll Deduction for United States Savings Bonds.

Section 9.41 | Payroll Accounts.

Section 9.42 | Municipal Income Tax Deductions.

Section 9.43 | Savings in Share Accounts in Chartered Credit Unions Deductions.

Section 9.44 | Prior Public Service Counted in Computing Vacation Leave.

Section 9.441 | Continuing Rights or Benefits for Prior Service.

Section 9.45 | Nonprofit Debt Pooling Company Deductions.

Section 9.46 | u.s. Olympic Participation Leave.

Section 9.47 | Certificate of Compliance With Affirmative Action Programs.

Section 9.48 | Joint Purchasing Programs.

Section 9.481 | Residency Requirements Prohibited for Certain Employees.

Section 9.482 | Contracting for Services Between Political Subdivisions.

Section 9.483 | Sale and Leaseback Agreements.

Section 9.49 | Transparency in Contracts Between State and Private Attorneys.

Section 9.491 | Definitions.

Section 9.492 | Contingency Fee Contract With Private Attorney.

Section 9.493 | Contract With Private Attorney Outside Ohio.

Section 9.494 | Publication of Contract.

Section 9.495 | Annual Report.

Section 9.496 | Applicability.

Section 9.497 | Construction.

Section 9.498 | Legislative Intent.

Section 9.50 | Display of the Pow/mia Flag During Normal Business Hours at Public Buildings.

Section 9.54 | Accessibility Signs.

Section 9.55 | Installation of Teletypewriters for Deaf or Hearing-Impaired at State Agencies.

Section 9.56 | Plans and Drawings for Public Buildings Filed With County Recorder.

Section 9.57 | Closure of Places of Worship.

Section 9.58 | Court Settlements That Conflict With the Revised Code.

Section 9.60 | Contracts for Firefighting Agency, Private Fire Company, or Emergency Medical Service Organization.

Section 9.61 | Residency Not Required for Fire Chief.

Section 9.62 | Purchase of Police Dog or Horse.

Section 9.63 | Compliance With Lawful Requests Under Patriot Act.

Section 9.65 | Annuity Program for Volunteer Fire Fighters.

Section 9.66 | Indication of Outstanding Liability Owed to State in Application for Economic Development Assistance.

Section 9.661 | Liens to Secure Performance on Development Loans and Property Tax Incentives.

Section 9.67 | Restrictions on Owner of Professional Sports Team That Uses a Tax-Supported Facility.

Section 9.68 | Regulation of Arms Prohibited - Challenging Political Subdivisions.

Section 9.69 | Duties and Status of Law Enforcement Officer.

Section 9.70 | Permission for Street on Lands of Public Institution.

Section 9.73 | Public Employer Inquiries Regarding Criminal Background.

Section 9.74 | Victims of Dissemination of Image.

Section 9.75 | Requirement for Employment of Local Laborers Prohibited.

Section 9.76 | Boycott Provisions in Certain Contracts.

Section 9.78 | Determination of Effect of Criminal Conviction by Licensing Authority.

Section 9.79 | Limitations on Initial License Refusal.

Section 9.80 | Contribution to Charity Deductions.

Section 9.81 | Payroll Deduction Plans.

Section 9.82 | Risk Management and Insurance Programs Definitions.

Section 9.821 | Office of Risk Management.

Section 9.822 | Insurance and Bonds.

Section 9.823 | Risk Management Reserve Fund.

Section 9.83 | Liability Insurance for Public Employees.

Section 9.833 | Self-Insurance Program for Health Care Benefits.

Section 9.835 | Energy Price Risk Management Contract.

Section 9.84 | Witness Has Right of Counsel - Participation in Hearing Limited.

Section 9.85 | Immunity of Public Officers and Employees Definitions.

Section 9.86 | Immunity of Public Officers and Employees.

Section 9.87 | Indemnification of Public Officers and Employees.

Section 9.871 | Indemnification of Correctional Employee.

Section 9.88 | Immunity of Federal Law Enforcement Officers.

Section 9.90 | Purchase or Procurement of Insurance for Educational Employees.

Section 9.901 | Design and Delivery of Health Care Plans; Authority of Department of Administrative Services.

Section 9.91 | Placement or Purchase of Tax-Sheltered Annuity for Educational Employees.

Section 9.911 | Annuity Contracts and Custodial Accounts.

Section 9.92 | Citizens' Reward Program.

Section 9.94 | Fractionalized Interests in Any One or More Public Obligations.

Section 9.95 | Maximum or Maximum Average Annual Interest Rate on Public Securities.

Section 9.96 | Issue Public Securities.

Section 9.97 | Exemption of Bond Interest From Income Tax.

Section 9.98 | Bond Financing Definitions.

Section 9.981 | Applicability.

Section 9.982 | Bond Proceedings.

Section 9.983 | Costs, Expenses and Fees.