SENATOR Carnes

To amend section 164.01 and to enact section 164.16

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of the Revised Code to include appurtenances to

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roads and bridges to enhance the safety of

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animal-drawn vehicles, pedestrians, and bicycles

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in the types of projects for which local

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subdivisions may receive financial assistance

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through the Ohio Public Works Commission.

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BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF OHIO:

Section 1.  That section 164.01 be amended and section 164.16	8
of the Revised Code be enacted to read as follows:	9

Sec. 164.01.  As used in this chapter:

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(A) "Capital improvement" or "capital improvement project"	11
or "project" means the acquisition, construction, reconstruction,	12
improvement, planning, and equipping of roads and bridges,	13
appurtenances to roads and bridges to enhance the safety of	14
animal-drawn vehicles, pedestrians, and bicycles, waste water	15
treatment systems, water supply systems, solid waste disposal	16
facilities, flood control systems, and storm water and sanitary	17
collection, storage, and treatment facilities, including real	18
property, interests in real property, facilities, and equipment	19
related or incidental to those facilities.	20

(B) "Local subdivision" means any county, municipal	21
corporation, township, sanitary district, or regional water and	22
sewer district.	23

(C) "Bond proceedings" means the resolutions, orders, trust	24
agreements, indentures, and other agreements, credit facilities	25
and credit enhancement facilities, and amendments and supplements	26
to the foregoing, or any one or more or combination thereof,	27
authorizing, awarding, or providing for the terms and conditions	28
applicable to or providing for the security or liquidity of	29
obligations, and the provisions contained in those obligations.	30

(D) "Bond service charges" means principal, including any	31
mandatory sinking fund or redemption requirements for retirement	32
of obligations, interest and other accreted amounts, and any	33
redemption premium payable on obligations. If not prohibited by	34
the applicable bond proceedings, bond service charges include	35
costs of credit enhancement facilities that are related to, and	36
represent or are intended to provide a source of payment of or	37
limitation on, other bond service charges.	38

(E) "Bond service fund" means the fund, and any accounts in	39
that fund, created by section 164.10 of the Revised Code,	40
including all moneys and investments, and earnings from	41
investments, credited and to be credited to that fund and accounts	42
as provided in the bond proceedings.	43

(F) "Cost of capital improvement projects" means the costs	44
of acquiring, constructing, reconstructing, expanding, improving,	45
and engineering capital improvement projects, and related	46
financing costs.	47

(G) "Credit enhancement facilities" means letters of credit,	48
lines of credit, stand-by, contingent, or firm securities purchase	49
agreements, interest rate hedges including, without limitation,	50
interest rate swaps, insurance or surety arrangements, reserve or	51
guarantee funds, and guarantees, and other arrangements that	52
provide for contingent or direct payment of bond service charges,	53
for security or additional security in the event of nonpayment or	54
default in respect of obligations, or for making or providing	55
funds for making payment of bond service charges to, and at the	56
option and on demand of, holders of obligations or at the option	57
of the issuer under put or similar arrangements, or for otherwise	58
supporting the credit or liquidity of obligations, and includes	59
credit, reimbursement, marketing, remarketing, indexing, carrying,	60
purchase, and subrogation agreements, and other agreements and	61
arrangements for reimbursement of the person providing the credit	62
enhancement facility and the security for that reimbursement. As	63
used in this division, obligations include debt obligations of	64
local subdivisions.	65

(H) "Financing costs" means all costs and expenses relating	66
to the authorization, issuance, sale, delivery, authentication,	67
deposit, custody, clearing, registration, transfer, exchange,	68
fractionalization, replacement, and servicing of obligations,	69
including, without limitation, costs and expenses for or relating	70
to, or payment obligations under, publication and printing,	71
postage and express delivery, official statements, offering	72
circulars, and informational statements, travel and	73
transportation, paying agents, bond registrars, authenticating	74
agents, remarketing agents, custodians, clearing agencies or	75
corporations, securities depositories, financial advisory	76
services, certifications, audits, federal or state regulatory	77
agencies, accounting services, legal services and obtaining	78
approving legal opinions and other legal opinions, credit ratings,	79
original issue discount, credit facilities, and credit enhancement	80
facilities. Financing costs may be paid from any moneys lawfully	81
available for the purpose, including, unless otherwise provided in	82
the bond proceedings, from the proceeds of the obligations to	83
which they relate and from the same sources from which bond	84
service charges on the obligations are paid and as though bond	85
service charges.	86

(I) "Issuer" means the treasurer of state, or the officer	87
who by law performs the functions of suchthat officer.	88

(J) "Obligations" means bonds, notes, or other evidences of	89
obligation of the state, including any interest coupons pertaining	90
thereto, issued pursuant to sections 164.09 to 164.12 of the	91
Revised Code.	92

(K) "Special funds" or "funds" means, except where the	93
context does not permit, the bond service fund, and any other	94
funds, including reserve funds, created under the bond proceedings	95
and stated to be special funds in those proceedings, including all	96
moneys and investments, and earnings from investments, credited	97
and to be credited to the particular fund. Special funds do not	98
include the state capital improvements fund created by section	99
164.08 of the Revised Code or, if so provided in the bond	100
proceedings, a rebate fund or account established for purposes of	101
federal tax laws.	102

(L) "Net proceeds" means amounts received from the sale of	103
obligations pursuant to this chapter, excluding amounts used to	104
refund or retire outstanding obligations, and does not include	105
amounts required to be deposited in special funds pursuant to the	106
applicable bond proceedings, or financing costs paid from such	107
amounts received.	108

(M) "Local debt support and credit enhancements" means a	109
full or partial pledge of support for any local bond issue, the	110
payment of all or a part of the premium for bond insurance	111
obtained from a private insurer, the subsidization of the interest	112
rate on a loan obtained by the subdivision, or a source of revenue	113
pledged in support of revenue bonds issued by a subdivision.	114

(N) "Principal amount" refers to the aggregate of the amount	115
as stated or provided for in the bond proceedings authorizing the	116
obligations as the amount on which interest or interest equivalent	117
is initially calculated.	118

Sec. 164.16.  In the acquisition, construction,	119
reconstruction, improvement, planning, or equipping of	120
appurtenances to roads and bridges to enhance the safety of	121
animal-drawn vehicles, pedestrians, and bicycles, eligible	122
activities include, but are not limited, to the following:	123

(A) Constructing or widening shoulders, including widening	124
of bridges and culverts and purchase of rights-of-way, if	125
necessary;	126

(B) Constructing pull-off lanes for roadways with visibility	127
issues;	128

(C) Improving vertical and horizontal curvature of roadways;

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(D) Placement of warning signs for animal-drawn vehicle	130
traffic, including automated flashing signs.	131

Section 2. That existing section 164.01 of the Revised Code	132
is hereby repealed.	133