H. B. No. 168 As Introduced

Representatives Trakas, Calvert, Koziura, Carano, Aslanides, S. Patton, Miller, D. Stewart

A BILL

To amend sections 135.22, 135.341, 135.35, 321.24, 1
321.46, 323.121, 323.31, 4503.06, 5713.20, 2
5721.10, 5721.30, 5721.31, 5721.32, 5721.33, 3
5721.34, 5721.37, 5721.38, and 5721.41 and to 4
enact sections 321.47 and 5721.43 of the Revised 5
Code to establish procedures for suspending the 6
investment and portfolio management authority of a 7
county treasurer who fails to meet the continuing 8
education requirements and transfer this authority 9
to a county's investment advisory committee, to 10
modify the investment authority of county 11
treasurers, specify when penalties may be imposed 12
on property subject to delinquent tax contracts, 13
modify procedures for the sale and redemption of 14
tax certificates, prohibit certain contacts 15
between tax certificate holders and property 16
owners, and make other changes related to the 17
administration of laws relating to real property, 18
public utility property, and manufactured home 19
taxes. 20

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

       Section 1. That sections 135.22, 135.341, 135.35, 321.24, 21
321.46, 323.121, 323.31, 4503.06, 5713.20, 5721.10, 5721.30, 22
5721.31, 5721.32, 5721.33, 5721.34, 5721.37, 5721.38, and 5721.41 23
be amended and sections 321.47 and 5721.43 of the Revised Code be 24
enacted to read as follows: 25

       Sec. 135.22. (A) For purposes of this section: 26

       (1) "Treasurer" has the same meaning as in section 135.01 of 27
the Revised Code, but does not include a county treasurer or the 28
treasurer of state. "Treasurer" includes any person whose duties 29
include making investment decisions with respect to the investment 30
or deposit of interim moneys. 31

       (2) "Subdivision" has the same meaning as in section 135.01 32
of the Revised Code. 33

       (B) To enhance the background and working knowledge of 34
treasurers in investments, cash management, and ethics, the 35
treasurer of state shall provide annual continuing education 36
programs for treasurers. A treasurer annually shall complete the 37
continuing education programs described in this section, unless 38
the treasurer annually provides a notice of exemption described in 39
division (E) of this section. 40

       (C) The treasurer of state shall determine the manner, 41
content, and length of the continuing education programs after 42
consultation with appropriate statewide organizations of local 43
government officials. 44

       (D) Upon successful completion of a continuing education 45
program required by this section, the treasurer of state shall 46
issue a certificate indicating that the treasurer has successfully 47
completed the continuing education program prescribed by the 48
treasurer of state. The treasurer of state shall forward to the 49
auditor of state any certificates issued pursuant to this division 50
by the treasurer of state. The auditor of state shall maintain in 51
the auditor's records any certificates forwarded by the treasurer 52
of state pursuant to this division. As part of the auditor of 53
state's audit of the subdivision conducted in accordance with 54
section 117.11 of the Revised Code, the auditor of state shall 55
report whether the treasurer is in compliance with this section of 56
the Revised Code. 57

       (E) Division (B) of this section does not apply to any 58
treasurer who annually provides a notice of exemption to the 59
auditor of state. The notice shall be certified by the treasurer 60
of state and shall provide that the treasurer is not subject to 61
the continuing education requirements set forth in division (B) of 62
this section, because the treasurer invests or deposits public 63
moneys in the following investments only: 64

       (1) Interim deposits pursuant to division (B)(3) of section 65
135.14 of the Revised Code; 66

       (2) No-load money market mutual funds pursuant to division 67
(B)(5) of section 135.14 of the Revised Code; 68

       (3) The Ohio subdivision's fund pursuant to division (B)(6) 69
of section 135.14 of the Revised Code. 70

       (F) In carrying out the duties required by this section, the 71
treasurer of state may charge the subdivision served by the 72
treasurer a registration fee that will meet actual and necessary 73
expenses in connection with the training of the treasurer, 74
including instruction fees, site acquisition costs, and the cost 75
of course materials. Any necessary personal expenses of a 76
treasurer incurred as a result of attending the continuing 77
education courses shall be borne by the subdivision represented by 78
the treasurer. 79

       (G) The treasurer of state may allow any other interested 80
person to attend any of the continuing education programs that are 81
held pursuant to this section, provided that before attending any 82
such continuing education program, the interested person has paid 83
to the treasurer of state the full registration fee set for the 84
continuing education program. 85

       (H) All funds collected pursuant to this section shall be 86
paid into the county treasurer education fund created pursuant to 87
section 321.46 of the Revised Code, and the actual and necessary 88
expenses of the treasurer of state in conducting the continuing 89
education programs required by this section shall be paid from 90
this fund. 91

       (I) The treasurer of state may adopt reasonable rules not 92
inconsistent with this section for the implementation of this 93
section. 94

       Sec. 135.341. (A) There shall be a county investment 95
advisory committee consisting of three members: two county 96
commissioners to be designated by the board of county 97
commissioners, and the county treasurer. 98

       Notwithstanding the preceding sentence, the board of county 99
commissioners may declare that all three county commissioners 100
shall serve on the county investment advisory committee. If the 101
board so declares, the county investment advisory committee shall 102
consist of five members: the three county commissioners, the 103
county treasurer, and the clerk of the court of common pleas of 104
the county. 105

       (B) The committee shall elect its own chairperson, and 106
committee members shall receive no additional compensation for the 107
performance of their duties as committee members. 108

       (C) The committee shall establish written county investment 109
policies and shall meet at least once every three months, to 110
review or revise its policies and to advise the investing 111
authority on the county investments in order to ensure the best 112
and safest return of funds available to the county for deposit or 113
investment. Any member of the county investment advisory 114
committee, upon giving five days' notice, may call a meeting of 115
the committee. The committee's policies may establish a limit on 116
the period of time that moneys may be invested in any particular 117
type of investment. 118

       (D) The committee is authorized to retain the services of an 119
investment advisor, provided that the advisor is licensed by the 120
division of securities under section 1707.141 of the Revised Code 121
or is registered with the securities and exchange commission, and 122
possesses public funds investment management experience, 123
specifically in the area of state and local government investment 124
portfolios, or the advisor is an eligible institution mentioned in 125
section 135.03 of the Revised Code. 126

       (E) The committee shall act as the investing authority in 127
place of the treasurer for purposes of investing county funds and 128
managing the county portfolio when ordered to do so by a court 129
pursuant to section 321.47 of the Revised Code. For these 130
purposes, the committee may retain the services of an investment 131
advisor described in division (D) of this section. 132

        (F) Nothing in this section affects the authority of any of 133
the officers mentioned in section 325.27 of the Revised Code to 134
contract for the services of fiscal and management consultants 135
pursuant to section 325.17 of the Revised Code. 136

       Sec. 135.35. (A) The investing authority shall deposit or 137
invest any part or all of the county's inactive moneys and shall 138
invest all of the money in the county library and local government 139
support fund when required by section 135.352 of the Revised Code. 140
The following classifications of securities and obligations are 141
eligible for such deposit or investment: 142

       (1) United States treasury bills, notes, bonds, or any other 143
obligation or security issued by the United States treasury or any 144
other obligation guaranteed as to principal or interest by the 145
United States. 146

       Nothing in the classification of eligible securities and 147
obligations set forth in division (A)(1) of this section or in the 148
classifications of eligible securities and obligations set forth 149
in divisions (A)(2) to ~~(8)~~(12) of this section shall be construed 150
to authorize any investment in stripped principal or interest 151
obligations of such eligible securities and obligations. 152

       (2) ~~Bonds~~Subject to division (A)(9) of this section, bonds, 153
notes, debentures, or any other obligations or securities issued 154
by any federal government agency or instrumentality, including but 155
not limited to, the federal national mortgage association, federal 156
home loan bank, federal farm credit bank, federal home loan 157
mortgage corporation, government national mortgage association, 158
and student loan marketing association. All federal agency 159
securities shall be direct issuances of federal government 160
agencies or instrumentalities. 161

       (3) Time certificates of deposit or savings or deposit 162
accounts, including, but not limited to, passbook accounts, in any 163
eligible institution mentioned in section 135.32 of the Revised 164
Code; 165

       (4) Bonds and other obligations of this state or the 166
political subdivisions of this state, provided that such political 167
subdivisions are located wholly or partly within the same county 168
as the investing authority; 169

       (5) No-load money market mutual funds consisting exclusively 170
of obligations described in division (A)(1) or (2) of this section 171
and repurchase agreements secured by such obligations, provided 172
that investments in securities described in this division are made 173
only through eligible institutions mentioned in section 135.32 of 174
the Revised Code; 175

       (6) The Ohio subdivision's fund as provided in section 135.45 176
of the Revised Code; 177

       (7) Securities lending agreements with any eligible 178
institution mentioned in section 135.32 of the Revised Code that 179
is a member of the federal reserve system or federal home loan 180
bank, under the terms of which agreements the investing authority 181
lends securities and the eligible institution agrees to 182
simultaneously exchange either securities described in division 183
(A)(1) or (2) of this section or cash or both securities and cash, 184
equal value for equal value; 185

       (8) Up to twenty-five per cent of the county's total average 186
portfolio in either of the following investments: 187

       (a) Commercial paper notes issued by an entity that is 188
defined in division (D) of section 1705.01 of the Revised Code and 189
that has assets exceeding five hundred million dollars, to which 190
notes all of the following apply: 191

       (i) The notes are rated at the time of purchase in the 192
highest classification established by at least two nationally 193
recognized standard rating services. 194

       (ii) The aggregate value of the notes does not exceed ten per 195
cent of the aggregate value of the outstanding commercial paper of 196
the issuing corporation. 197

       (iii) The notes mature not later than one hundred eighty days 198
after purchase. 199

       (b) Bankers acceptances of banks that are insured by the 200
federal deposit insurance corporation and to which both of the 201
following apply: 202

       (i) The obligations are eligible for purchase by the federal 203
reserve system. 204

       (ii) The obligations mature not later than one hundred eighty 205
days after purchase. 206

       No investment shall be made pursuant to division (A)(8) of 207
this section unless the investing authority has completed 208
additional training for making the investments authorized by 209
division (A)(8) of this section. The type and amount of additional 210
training shall be approved by the auditor of state and may be 211
conducted by or provided under the supervision of the auditor of 212
state. 213

       (9) Up to twenty-five per cent of the county's total average 214
portfolio in mortgage pass-through securities issued directly by 215
any federal government agency, including but not limited to, the 216
government national mortgage association, federal national 217
mortgage association, and the federal home loan mortgage 218
corporation, provided the securities mature not later than five 219
years after purchase. Nothing in division (A)(9) of this section 220
shall be construed to authorize investment in a collateralized 221
mortgage obligation. 222

        (10) Up to fifteen per cent of the county's total average 223
portfolio in notes issued by corporations that are incorporated 224
under the laws of the United States and that are operating within 225
the United States, or by depository institutions that are doing 226
business under authority granted by the United States or any state 227
and that are operating within the United States, provided both of 228
the following apply: 229

        (a) The notes are rated "AA" or higher by at least one 230
nationally recognized standard rating service at the time of 231
purchase. 232

        (b) The notes mature not later than two years after purchase. 233

        (11) No-load money market mutual funds consisting exclusively 234
of obligations described in division (A) of section 135.143 of the 235
Revised Code; 236

        (12) Debt interests rated investment grade by a nationally 237
recognized rating agency and issued by foreign nations 238
diplomatically recognized by the United States government. All 239
interest and principal shall be denominated and payable in United 240
States funds. The investments made under division (A)(12) of this 241
section shall not exceed in the aggregate one per cent of a 242
county's total average portfolio. 243

       The investing authority shall invest under division (A)(12) 244
of this section in a debt interest issued by a foreign nation only 245
if the debt interest is backed by the full faith and credit of 246
that foreign nation, there is no prior history of default, and the 247
debt interest matures not later than five years after purchase. 248

       (B) Nothing in the classifications of eligible obligations 249
and securities set forth in divisions (A)(1) to ~~(8)~~(12) of this 250
section shall be construed to authorize investment in a 251
derivative, and no investing authority shall invest any county 252
inactive moneys or any moneys in a county library and local 253
government support fund in a derivative. For purposes of this 254
division, "derivative" means a financial instrument or contract or 255
obligation whose value or return is based upon or linked to 256
another asset or index, or both, separate from the financial 257
instrument, contract, or obligation itself. Any security, 258
obligation, trust account, or other instrument that is created 259
from an issue of the United States treasury or is created from an 260
obligation of a federal agency or instrumentality or is created 261
from both is considered a derivative instrument. An eligible 262
investment described in this section with a variable interest rate 263
payment, based upon a single interest payment or single index 264
comprised of other eligible investments provided for in division 265
(A)(1) or (2) of this section, is not a derivative, provided that 266
such variable rate investment has a maximum maturity of two years. 267
A treasury inflation-protected security shall not be considered a 268
derivative, provided the security matures not later than five 269
years after purchase. 270

       (C) Except as provided in division (D) of this section, any 271
investment made pursuant to this section must mature within five 272
years from the date of settlement, unless the investment is 273
matched to a specific obligation or debt of the county or to a 274
specific obligation or debt of a political subdivision of this 275
state located wholly or partly within the county, and the 276
investment is specifically approved by the investment advisory 277
committee. 278

       (D) The investing authority may also enter into a written 279
repurchase agreement with any eligible institution mentioned in 280
section 135.32 of the Revised Code or any eligible securities 281
dealer pursuant to division (J) of this section, under the terms 282
of which agreement the investing authority purchases and the 283
eligible institution or dealer agrees unconditionally to 284
repurchase any of the securities listed in divisions (B)(1) to 285
(5), except letters of credit described in division (B)(2), of 286
section 135.18 of the Revised Code. The market value of securities 287
subject to an overnight written repurchase agreement must exceed 288
the principal value of the overnight written repurchase agreement 289
by at least two per cent. A written repurchase agreement must 290
exceed the principal value of the overnight written repurchase 291
agreement, by at least two per cent. A written repurchase 292
agreement shall not exceed thirty days, and the market value of 293
securities subject to a written repurchase agreement must exceed 294
the principal value of the written repurchase agreement by at 295
least two per cent and be marked to market daily. All securities 296
purchased pursuant to this division shall be delivered into the 297
custody of the investing authority or the qualified custodian of 298
the investing authority or an agent designated by the investing 299
authority. A written repurchase agreement with an eligible 300
securities dealer shall be transacted on a delivery versus payment 301
basis. The agreement shall contain the requirement that for each 302
transaction pursuant to the agreement the participating 303
institution shall provide all of the following information: 304

       (1) The par value of the securities; 305

       (2) The type, rate, and maturity date of the securities; 306

       (3) A numerical identifier generally accepted in the 307
securities industry that designates the securities. 308

       No investing authority shall enter into a written repurchase 309
agreement under the terms of which the investing authority agrees 310
to sell securities owned by the county to a purchaser and agrees 311
with that purchaser to unconditionally repurchase those 312
securities. 313

       (E) No investing authority shall make an investment under 314
this section, unless the investing authority, at the time of 315
making the investment, reasonably expects that the investment can 316
be held until its maturity. The investing authority's written 317
investment policy shall specify the conditions under which an 318
investment may be redeemed or sold prior to maturity. 319

       (F) No investing authority shall pay a county's inactive 320
moneys or moneys of a county library and local government support 321
fund into a fund established by another subdivision, treasurer, 322
governing board, or investing authority, if that fund was 323
established by the subdivision, treasurer, governing board, or 324
investing authority for the purpose of investing or depositing the 325
public moneys of other subdivisions. This division does not apply 326
to the payment of public moneys into either of the following: 327

       (1) The Ohio subdivision's fund pursuant to division (A)(6) 328
of this section; 329

       (2) A fund created solely for the purpose of acquiring, 330
constructing, owning, leasing, or operating municipal utilities 331
pursuant to the authority provided under section 715.02 of the 332
Revised Code or Section 4 of Article XVIII, Ohio Constitution. 333

       For purposes of division (F) of this section, "subdivision" 334
includes a county. 335

       (G) The use of leverage, in which the county uses its current 336
investment assets as collateral for the purpose of purchasing 337
other assets, is prohibited. The issuance of taxable notes for the 338
purpose of arbitrage is prohibited. Contracting to sell securities 339
not owned by the county, for the purpose of purchasing such 340
securities on the speculation that bond prices will decline, is 341
prohibited. 342

       (H) Any securities, certificates of deposit, deposit 343
accounts, or any other documents evidencing deposits or 344
investments made under authority of this section shall be issued 345
in the name of the county with the county treasurer or investing 346
authority as the designated payee. If any such deposits or 347
investments are registrable either as to principal or interest, or 348
both, they shall be registered in the name of the treasurer. 349

       (I) The investing authority shall be responsible for the 350
safekeeping of all documents evidencing a deposit or investment 351
acquired under this section, including, but not limited to, 352
safekeeping receipts evidencing securities deposited with a 353
qualified trustee, as provided in section 135.37 of the Revised 354
Code, and documents confirming the purchase of securities under 355
any repurchase agreement under this section shall be deposited 356
with a qualified trustee, provided, however, that the qualified 357
trustee shall be required to report to the investing authority, 358
auditor of state, or an authorized outside auditor at any time 359
upon request as to the identity, market value, and location of the 360
document evidencing each security, and that if the participating 361
institution is a designated depository of the county for the 362
current period of designation, the securities that are the subject 363
of the repurchase agreement may be delivered to the treasurer or 364
held in trust by the participating institution on behalf of the 365
investing authority. 366

       Upon the expiration of the term of office of an investing 367
authority or in the event of a vacancy in the office for any 368
reason, the officer or the officer's legal representative shall 369
transfer and deliver to the officer's successor all documents 370
mentioned in this division for which the officer has been 371
responsible for safekeeping. For all such documents transferred 372
and delivered, ~~such~~the officer shall be credited with, and the 373
officer's successor shall be charged with, the amount of moneys so 374
evidenced by such documents. 375

       (J)(1) All investments, except for investments in securities 376
described in divisions (A)(5) and (6) of this section, shall be 377
made only through a member of the national association of 378
securities dealers, through a bank, savings bank, or savings and 379
loan association regulated by the superintendent of financial 380
institutions, or through an institution regulated by the 381
comptroller of the currency, federal deposit insurance 382
corporation, or board of governors of the federal reserve system. 383

       (2) Payment for investments shall be made only upon the 384
delivery of securities representing such investments to the 385
treasurer, investing authority, or qualified trustee. If the 386
securities transferred are not represented by a certificate, 387
payment shall be made only upon receipt of confirmation of 388
transfer from the custodian by the treasurer, governing board, or 389
qualified trustee. 390

       (K)(1) Except as otherwise provided in division (K)(2) of 391
this section, no investing authority shall make an investment or 392
deposit under this section, unless there is on file with the 393
auditor of state a written investment policy approved by the 394
investing authority. The policy shall require that all entities 395
conducting investment business with the ~~investment~~investing 396
authority shall sign the investment policy of that ~~investment~~ 397
investing authority. All brokers, dealers, and financial 398
institutions, described in division (J)(1) of this section, 399
initiating transactions with the ~~investment~~investing authority by 400
giving advice or making investment recommendations shall sign the 401
~~investment~~investing authority's investment policy thereby 402
acknowledging their agreement to abide by the policy's contents. 403
All brokers, dealers, and financial institutions, described in 404
division (J)(1) of this section, executing transactions initiated 405
by the ~~investment~~investing authority, having read the policy's 406
contents, shall sign the investment policy thereby acknowledging 407
their comprehension and receipt. 408

       (2) If a written investment policy described in division 409
(K)(1) of this section is not filed on behalf of the county with 410
the auditor of state, the investing authority of that county shall 411
invest the county's inactive moneys and moneys of the county 412
library and local government support fund only in time 413
certificates of deposits or savings or deposit accounts pursuant 414
to division (A)(3) of this section, no-load money market mutual 415
funds pursuant to division (A)(5) of this section, or the Ohio 416
subdivision's fund pursuant to division (A)(6) of this section. 417

       (L)(1) The investing authority shall establish and maintain 418
an inventory of all obligations and securities acquired by the 419
investing authority pursuant to this section. The inventory shall 420
include a description of each obligation or security, including 421
type, cost, par value, maturity date, settlement date, and any 422
coupon rate. 423

       (2) The investing authority shall also keep a complete record 424
of all purchases and sales of the obligations and securities made 425
pursuant to this section. 426

       (3) The investing authority shall maintain a monthly 427
portfolio report and issue a copy of the monthly portfolio report 428
describing such investments to the county investment advisory 429
committee, detailing the current inventory of all obligations and 430
securities, all transactions during the month that affected the 431
inventory, any income received from the obligations and 432
securities, and any investment expenses paid, and stating the 433
names of any persons effecting transactions on behalf of the 434
investing authority. 435

       (4) The monthly portfolio report shall be a public record and 436
available for inspection under section 149.43 of the Revised Code. 437

       (5) The inventory and the monthly portfolio report shall be 438
filed with the board of county commissioners. 439

       (M) An investing authority may enter into a written 440
investment or deposit agreement that includes a provision under 441
which the parties agree to submit to nonbinding arbitration to 442
settle any controversy that may arise out of the agreement, 443
including any controversy pertaining to losses of public moneys 444
resulting from investment or deposit. The arbitration provision 445
shall be set forth entirely in the agreement, and the agreement 446
shall include a conspicuous notice to the parties that any party 447
to the arbitration may apply to the court of common pleas of the 448
county in which the arbitration was held for an order to vacate, 449
modify, or correct the award. Any such party may also apply to the 450
court for an order to change venue to a court of common pleas 451
located more than one hundred miles from the county in which the 452
investing authority is located. 453

       For purposes of this division, "investment or deposit 454
agreement" means any agreement between an investing authority and 455
a person, under which agreement the person agrees to invest, 456
deposit, or otherwise manage, on behalf of the investing 457
authority, a county's inactive moneys or moneys in a county 458
library and local government support fund, or agrees to provide 459
investment advice to the investing authority. 460

       (N) An investment held in the county portfolio on September 461
27, 1996, that was a legal investment under the law as it existed 462
before September 27, 1996, may be held until maturity, or if the 463
investment does not have a maturity date the investment may be 464
held until five years from September 27, 1996, regardless of 465
whether the investment would qualify as a legal investment under 466
the terms of this section as amended. 467

       Sec. 321.24. (A) On or before the fifteenth day of February, 468
in each year, the county treasurer shall settle with the county 469
auditor for all taxes and assessments that the treasurer has 470
collected on the general duplicate of real and public utility 471
property at the time of making the settlement. 472

       (B) On or before the thirtieth day of June, in each year, the 473
treasurer shall settle with the auditor for all advance payments 474
of general personal and classified property taxes that the 475
treasurer has received at the time of making the settlement. 476

       (C) On or before the tenth day of August, in each year, the 477
treasurer shall settle with the auditor for all taxes and 478
assessments that the treasurer has collected on the general 479
duplicates of real and public utility property at the time of 480
making such settlement, not included in the preceding February 481
settlement. 482

       (D) On or before the thirty-first day of October, in each 483
year, the treasurer shall settle with the auditor for all taxes 484
that the treasurer has collected on the general personal and 485
classified property duplicates, and for all advance payments of 486
general personal and classified property taxes, not included in 487
the preceding June settlement, that the treasurer has received at 488
the time of making such settlement. 489

       (E) In the event the time for the payment of taxes is 490
extended, pursuant to section 323.17 of the Revised Code, the date 491
on or before which settlement for the taxes so extended must be 492
made, as herein prescribed, shall be deemed to be extended for a 493
like period of time. At each such settlement, the auditor shall 494
allow to the treasurer, on the moneys received or collected and 495
accounted for by the treasurer, the treasurer's fees, at the rate 496
or percentage allowed by law, at a full settlement of the 497
treasurer. 498

       (F) Within thirty days after the day of each settlement of 499
taxes required under divisions (A) and (C) of this section, the 500
treasurer shall certify to the tax commissioner any adjustments 501
which have been made to the amount certified previously pursuant 502
to section 319.302 of the Revised Code and that the settlement has 503
been completed. Upon receipt of such certification, the 504
commissioner shall provide for payment to the county treasurer 505
from the general revenue fund of an amount equal to one-half of 506
the amount certified by the treasurer in the preceding tax year 507
under section 319.302 of the Revised Code. Such payment shall be 508
credited upon receipt to the county's undivided income tax fund, 509
and the county auditor shall transfer to the county general fund 510
from the amount thereof the total amount of all fees and charges 511
which the auditor and treasurer would have been authorized to 512
receive had such section not been in effect and that amount had 513
been levied and collected as taxes. The county auditor shall 514
distribute the amount remaining among the various taxing districts 515
in the county as if it had been levied, collected, and settled as 516
real property taxes. 517

       (G) Within thirty days after the day of the settlement 518
required in division (D) of this section, the treasurer shall 519
certify to the commissioner that the settlement has been 520
completed. Upon receipt of that certification, the commissioner 521
shall provide for payment to the county treasurer from the general 522
revenue fund of the amount certified under section 319.311 of the 523
Revised Code in the current year. The payment shall be credited 524
upon receipt to the county's undivided income tax fund, and the 525
county auditor shall distribute the amount thereof among the 526
various taxing districts of the county as if it had been levied, 527
collected, and settled as personal property taxes. The amount 528
received by a taxing district under this division shall be 529
apportioned among its funds in the same proportion as the current 530
year's personal property taxes are apportioned. 531

       (H)(1) On or before the fifteenth day of April each year, the 532
county treasurer shall settle with the county auditor for all 533
manufactured home taxes that the county treasurer has collected on 534
the manufactured home tax duplicate at the time of making the 535
settlement. 536

       (2) On or before the fifteenth day of September each year, 537
the county treasurer shall settle with the county auditor for all 538
remaining manufactured home taxes that the county treasurer has 539
collected on the manufactured home tax duplicate at the time of 540
making the settlement. 541

       (3) If the time for payment of such taxes is extended under 542
section 4503.06 of the Revised Code, the time for making the 543
settlement as prescribed by divisions (H)(1) and (2) of this 544
section is extended for a like period of time. 545

       (I) Within thirty days after the day of each settlement of 546
taxes required under division (H) of this section, the county 547
treasurer shall certify to the tax commissioner any adjustments 548
that have been made to the amount certified previously pursuant to 549
section 319.302 of the Revised Code and that the settlement has 550
been completed. Upon receipt of such certification, the 551
commissioner shall provide for payment to the county treasurer 552
from the general revenue fund of an amount equal to one-half of 553
the amount certified by the treasurer in the current tax year 554
under section 319.302 of the Revised Code. Such payment shall be 555
credited upon receipt to the county's undivided income tax fund, 556
and the county auditor shall transfer to the county general fund 557
from the amount thereof the total amount of all fees and charges 558
that the auditor and treasurer would have been authorized to 559
receive had such section not been in effect and that amount had 560
been levied and collected as taxes. The county auditor shall 561
distribute the amount remaining among the various taxing districts 562
in the county as if it had been levied, collected, and settled as 563
manufactured home taxes. 564

       Sec. 321.46. (A) To enhance the background and working 565
knowledge of county treasurers in governmental accounting, 566
portfolio reporting and compliance, investments, and cash 567
management, the auditor of state and the treasurer of state shall 568
conduct education programs for persons elected for the first time 569
to the office of county treasurer and shall hold annual continuing 570
education programs for persons who continue to hold the office of 571
county treasurer. Education programs for newly elected county 572
treasurers shall be held between the first day of December and the 573
first Monday of September next following that person's election to 574
the office of county treasurer. Similar initial training may also 575
be provided to any county treasurer who is appointed to fill a 576
vacancy or who is elected at a special election. 577

       (B)(1) The auditor of state shall determine the manner and 578
content of the education programs in the subject areas of 579
governmental accounting and portfolio reporting and compliance. In 580
those areas, newly elected county treasurers shall ~~be required to~~ 581
take at least thirteen hours of education before taking office. 582

       (2) The treasurer of state shall determine the manner and 583
content of the education programs in the subject areas of 584
investments and cash management. In those areas, newly elected 585
county treasurers shall ~~be required to~~ take at least thirteen 586
hours of education before taking office. 587

       (3)(a) After completing one year in office, a county 588
treasurer shall ~~be required to~~ take not less than twelve hours 589
~~annually~~ of continuing education during each annual cycle. For 590
purposes of this division, the annual cycle for continuing 591
education shall be from the first day of September through the 592
last day of August. The treasurer of state shall determine the 593
manner and content of the education programs in the subject areas 594
of investments, cash management, the collection of taxes, ethics, 595
and any other subject area that the treasurer of state determines 596
is reasonably related to the duties of the office of the county 597
treasurer. The auditor of state shall determine the manner and 598
content of the education programs in the subject areas of 599
governmental accounting, portfolio reporting and compliance, 600
office management, and any other subject area that the auditor of 601
state determines is reasonably related to the duties of the office 602
of the county treasurer. 603

       (b) A county treasurer who accumulates more than twelve hours 604
of continuing education in an annual cycle described in division 605
(B)(3)(a) of this section may credit the hours in excess of twelve 606
hours to the next annual cycle. However, regardless of the total 607
number of hours earned, no more than three hours in the education 608
programs determined by the treasurer of state pursuant to division 609
(B)(3)(a) of this section and three hours in the education 610
programs determined by the auditor of state pursuant to that 611
division shall be carried over to the next annual cycle. 612

       (C) The auditor of state and the treasurer of state may each 613
charge counties a registration fee that will meet actual and 614
necessary expenses of the training of county treasurers, including 615
instructor fees, site acquisition costs, and the cost of course 616
materials. The necessary personal expenses of county treasurers as 617
a result of attending the training programs shall be borne by the 618
counties the treasurers represent. 619

       (D) The auditor of state and the treasurer of state may allow 620
any other interested person to attend any of the education 621
programs that are held pursuant to this section, provided that 622
before attending any such education program, the interested person 623
shall pay to either the auditor of state or the treasurer of 624
state, as appropriate, the full registration fee set for the 625
education program. 626

       (E) AIf a county treasurer ~~who~~ fails to complete the initial 627
or continuing education programs required by this section ~~without~~ 628
~~a valid health-related excuse or other special hardship shall be~~ 629
~~restricted to investing in the Ohio subdivision's fund pursuant to~~ 630
~~division (A)(6) of section 135.35 of the Revised Code, in no-load~~ 631
~~money market mutual funds pursuant to division (A)(5) of section~~ 632
~~135.35 of the Revised Code, or in time certificate of deposits or~~ 633
~~deposit accounts pursuant to division (A)(3) of section 135.35 of~~ 634
~~the Revised Code. A county treasurer who has failed to complete~~ 635
~~the initial or continuing education programs and invests in other~~ 636
~~than the investments permitted by this division shall be subject~~ 637
~~to removal from office upon complaint and investigation by the~~ 638
~~county prosecuting attorney, a hearing, and a resolution adopted~~ 639
~~by the board of county commissioners approving the removal from~~ 640
~~office~~, the county treasurer is subject to divisions (B) to (E) of 641
section 321.47 of the Revised Code, including possible suspension 642
of the treasurer's authority to invest county funds and to manage 643
the county portfolio and transfer of this authority to the 644
county's investment advisory committee. 645

       (F)(1) There is hereby created in the state treasury the 646
county treasurer education fund, to be used by the treasurer of 647
state for actual and necessary expenses of education programs held 648
pursuant to this section and section 135.22 of the Revised Code. 649
All registration fees collected by the treasurer of state under 650
this section and section 135.22 of the Revised Code shall be paid 651
into that fund. 652

       (2) All registration fees collected by the auditor of state 653
under this section shall be paid into the auditor of state 654
training program fund established under section 117.44 of the 655
Revised Code. 656

       (G) The treasurer of state, with the advice and consent of 657
the auditor of state, may adopt reasonable rules not inconsistent 658
with this section for the implementation of this section. 659

       Sec. 321.47. (A) By the fifteenth day of September of each 660
year, the auditor of state shall notify the treasurer of state of 661
the continuing education hours completed under the auditor of 662
state's supervision of each county treasurer for the preceding 663
annual cycle pursuant to section 321.46 of the Revised Code. 664

       (B) By the thirtieth day of September of each year, the 665
treasurer of state shall determine whether any county treasurer 666
has failed to comply with the county treasurer's continuing 667
education requirements pursuant to section 321.46 of the Revised 668
Code and shall notify any county treasurer who has not complied 669
with the requirements. The notice shall contain all of the 670
following: 671

       (1) Notification that the treasurer is deficient in 672
continuing education hours; 673

       (2) Notification that if the county treasurer believes the 674
treasurer of state's records are in error, the county treasurer 675
has one month to submit proof to the treasurer of state that the 676
county treasurer is in compliance with the continuing education 677
requirements; 678

       (3) Notification of a date within the first two weeks of 679
December when continuing education courses will be offered in the 680
offices of the treasurer of state or the auditor of state by 681
videotape; 682

       (4) Notification that completion of the continuing education 683
requirements also may be obtained by attending courses approved by 684
the auditor of state or the treasurer of state, but that the 685
county treasurer must comply fully with the continuing education 686
requirements and that the treasurer of state must have proof of 687
full compliance by the last day of December; 688

       (5) Notification that if the county treasurer has failed to 689
comply fully with the continuing education requirements by the 690
last day of December, the treasurer of state will notify the 691
prosecutor of that treasurer's county of that fact immediately. 692

       (C)(1) Upon receipt of the notice described in division 693
(B)(5) of this section, the prosecuting attorney shall petition 694
the court of common pleas of that county for an order suspending 695
the county treasurer's authority to invest county funds and to 696
manage the county investment portfolio. The petition shall contain 697
a brief statement of the facts and shall show that the county 698
treasurer has failed to meet the continuing education requirements 699
of section 321.46 of the Revised Code. Before or simultaneously 700
with the filing of the petition, the prosecuting attorney shall 701
serve a copy of the petition upon the county treasurer personally 702
or by certified mail, together with a copy of this section. Upon 703
the filing of the petition, the court, on the motion of the 704
prosecuting attorney, shall enter an order fixing a date for 705
hearing not later than two weeks after the date of filing and 706
shall require that a copy of the order be given to the county 707
treasurer in the manner in which a summons is required to be 708
served or substituted service is required to be made in other 709
cases. 710

       (2) On the date fixed for the hearing described in division 711
(C)(1) of this section, or any adjournment of it, the court shall 712
determine from the petition and evidence submitted by either party 713
whether the county treasurer has met the continuing education 714
requirements of section 321.46 of the Revised Code for the 715
preceding annual cycle. If the court finds that the county 716
treasurer has failed to meet these continuing education 717
requirements, it shall enter an order transferring the county 718
treasurer's authority to invest county funds and to manage the 719
county portfolio to the county's investment advisory committee 720
until such time as the county treasurer complies fully with the 721
continuing education requirements. 722

       (3) The costs of the proceeding shall be assessed or 723
apportioned as the court considers equitable. 724

       (D) Upon receiving proof of completion of continuing 725
education requirements for the preceding year, the treasurer of 726
state shall notify the prosecuting attorney that the county 727
treasurer has complied fully with the continuing education 728
requirements. The prosecuting attorney shall submit this 729
information to the court, and the court shall enter an order 730
terminating the authority of the county's investment advisory 731
committee to invest county funds and to manage the county 732
portfolio and restoring such authority to the county treasurer. 733

       (E) The proceedings described in divisions (C) and (D) of 734
this section are special proceedings, and final orders in the 735
proceedings may be reviewed and affirmed, modified, or reversed on 736
appeal pursuant to the Rules of Appellate Procedure and, to the 737
extent not in conflict with those rules, pursuant to Chapter 2505. 738
of the Revised Code. 739

       Sec. 323.121. (A) If(1) Except as otherwise provided in 740
division (A)(2) of this section, if one-half of the current taxes 741
charged against an entry of real estate together with the full 742
amount of any delinquent taxes ~~or any installment thereof required~~ 743
~~to be paid under a written delinquent tax contract~~ are not paid on 744
or before the thirty-first day of December in that year or on or 745
before the last day for ~~such~~ payment as extended pursuant to 746
section 323.17 of the Revised Code, a penalty of ten per cent 747
shall be charged against the unpaid balance of such half of the 748
current taxes on the duplicate. If the total amount of all ~~such~~ 749
the taxes is not paid on or before the twentieth day of June, next 750
thereafter, or on or before the last day for ~~such~~ payment as 751
extended pursuant to section 323.17 of the Revised Code, a like 752
penalty shall be charged on the balance of the total amount of 753
such unpaid current taxes. 754

       (2) After a valid delinquent or omitted tax contract that 755
includes unpaid current taxes from a first-half collection period 756
described in section 323.12 of the Revised Code has been entered 757
into under section 323.31 or 5713.20 of the Revised Code, no ten 758
per cent penalty shall be charged against such taxes after the 759
second-half collection period while the delinquent or omitted tax 760
contract remains in effect. On the day a delinquent or omitted tax 761
contract becomes void, the ten per cent penalty shall be charged 762
against such taxes and shall equal the amount of penalty that 763
would have been charged against unpaid current taxes outstanding 764
on the date on which the second-half penalty would have been 765
charged thereon under division (A)(1) of this section if the 766
contract had not been in effect. 767

       (B)(1) On the first day of the month following the last day 768
the second installment of taxes may be paid without penalty, 769
interest shall be charged against and computed on all delinquent 770
taxes other than the current taxes that became delinquent taxes at 771
the close of the last day such second installment could be paid 772
without penalty. The charge shall be for interest that accrued 773
during the period that began on the preceding first day of 774
December and ended on the last day of the month that included the 775
last date such second installment could be paid without penalty. 776
The interest shall be computed at the rate per annum prescribed by 777
section 5703.47 of the Revised Code and shall be entered as a 778
separate item on the tax list and duplicate compiled under section 779
319.28 or 5721.011 of the Revised Code, whichever list and 780
duplicate are first compiled after the date on which ~~such~~the 781
interest is computed and charged. However, for tracts and lots on 782
the real property tax suspension list under section 319.48 of the 783
Revised Code, the interest shall not be entered on the tax list 784
and duplicate compiled under section 319.28 of the Revised Code, 785
but shall be entered on the first tax list and duplicate compiled 786
under section 5721.011 of the Revised Code after the date on which 787
the interest is computed and charged. 788

       (2) On the first day of December, the interest shall be 789
charged against and computed on all delinquent taxes. The charge 790
shall be for interest that accrued during the period that began on 791
the first day of the month following the last date prescribed for 792
the payment of the second installment of taxes in the current year 793
and ended on the immediately preceding last day of November. The 794
interest shall be computed at the rate per annum prescribed by 795
section 5703.47 of the Revised Code and shall be entered as a 796
separate item on the tax list and duplicate compiled under section 797
319.28 or 5721.011 of the Revised Code, whichever list and 798
duplicate are first compiled after the date on which ~~such~~the 799
interest is computed and charged. However, for tracts and lots on 800
the real property tax suspension list under section 319.48 of the 801
Revised Code, the interest shall not be entered on the tax list 802
and duplicate compiled under section 319.28 of the Revised Code, 803
but shall be entered on the first tax list and duplicate compiled 804
under section 5721.011 of the Revised Code after the date on which 805
the interest is computed and charged. 806

       (3) After a valid delinquent tax contract has been entered 807
into for the payment of any delinquent taxes, no interest shall be 808
charged against such delinquent taxes while the delinquent tax 809
contract remains in effect in compliance with section 323.31 of 810
the Revised Code. If a valid delinquent tax contract becomes void, 811
interest shall be charged against the delinquent taxes for the 812
periods that interest was not permitted to be charged while the 813
delinquent tax contract was in effect. The interest shall be 814
charged on the day the delinquent tax contract becomes void and 815
shall equal the amount of interest that would have been charged 816
against the unpaid delinquent taxes outstanding on the dates on 817
which interest would have been charged thereon under divisions 818
(B)(1) and (2) of this section had the delinquent tax contract not 819
been in effect. 820

       (C) If the full amount of the taxes due at either of the 821
times prescribed by division (A) of this section is paid within 822
ten days after such time, the county treasurer shall waive the 823
collection of and the county auditor shall remit one-half of the 824
penalty provided for in ~~such~~that division for failure to make 825
that payment by the prescribed time. 826

       (D) The county treasurer shall compile and deliver to the 827
county auditor a list of all tax payments the treasurer has 828
received as provided in division (C) of this section. The list 829
shall include any information required by the auditor for the 830
remission of the penalties waived by the treasurer. The taxes so 831
collected shall be included in the settlement next succeeding the 832
settlement then in process. 833

       Sec. 323.31. (A)(1) A person who owns agricultural real 834
property or owns and occupies residential real property or a 835
manufactured or mobile home that does not have an outstanding tax 836
lien certificate or judgment of foreclosure against it, and a 837
person who is a vendee of such property under a purchase agreement 838
or land contract and who occupies the property, shall have at 839
least one opportunity to pay ~~the~~any delinquent or unpaid current 840
taxes, or both, charged against the property by entering into a 841
written delinquent tax contract with the county treasurer in a 842
form prescribed or approved by the tax commissioner. Subsequent 843
opportunities to enter into a delinquent tax contract shall be at 844
the county treasurer's sole discretion. 845

       (2) The treasurer may enter into a delinquent tax contract in 846
accordance with division (A) of this section with an owner or 847
vendee of real property, other than residential real property or a 848
manufactured or mobile home that is occupied by the owner, and 849
other than agricultural real property. 850

       (3) The delinquent tax contract described in division (A) of 851
this section may be entered into at any time prior to the 852
commencement of foreclosure proceedings by the county treasurer 853
and the county prosecuting attorney pursuant to section 323.25 of 854
the Revised Code or by the county prosecuting attorney pursuant to 855
section 5721.18 of the Revised Code, the commencement of 856
foreclosure proceedings by a private attorney pursuant to section 857
5721.37 of the Revised Code, the commencement of foreclosure and 858
forfeiture proceedings pursuant to section 5721.14 of the Revised 859
Code, or the commencement of collection proceedings pursuant to 860
division (H) of section 4503.06 of the Revised Code by the filing 861
of a civil action as provided in that division. A duplicate copy 862
of each delinquent tax contract shall be filed with the county 863
auditor, who shall attach the copy to the delinquent land tax 864
certificate, delinquent vacant land tax certificate, or the 865
delinquent manufactured home tax list, or who shall enter an 866
asterisk in the margin next to the entry for the tract or lot on 867
the master list of delinquent tracts, master list of delinquent 868
vacant tracts, or next to the entry for the home on the delinquent 869
manufactured home tax list, prior to filing it with the 870
prosecuting attorney under section 5721.13 of the Revised Code, 871
or, in the case of the delinquent manufactured home tax list, 872
prior to delivering it to the county treasurer under division 873
(H)(2) of section 4503.06 of the Revised Code. If the delinquent 874
tax contract is entered into after the certificate or the master 875
list has been filed with the prosecuting attorney, the treasurer 876
shall file the duplicate copy with the prosecuting attorney. 877

       (4) A delinquent tax contract entered into under ~~this~~ 878
division (A) of this section shall provide for the payment of any 879
delinquent ~~and~~or unpaid current taxes, or both, in installments 880
over a period not to exceed five years after the date of the first 881
payment made under the contract; however, a person entering into a 882
delinquent tax contract who owns and occupies residential real 883
property may request, and the treasurer shall allow, a delinquent 884
tax contract providing for payment in installments over a period 885
of no fewer than two years after the date of the first payment 886
made under the contract. 887

       (5) For each delinquent tax contract entered into under 888
division (A) of this section, the county treasurer shall determine 889
and shall specify in the delinquent tax contract the number of 890
installments, the amount of each installment, and the schedule for 891
payment of the installments. The part of each installment payment 892
representing taxes and penalties and interest thereon shall be 893
apportioned among the several taxing districts in the same 894
proportion that the amount of taxes levied by each district 895
against the entry in the preceding tax year bears to the taxes 896
levied by all such districts against the entry in the preceding 897
tax year. The part of each payment representing assessments and 898
other charges shall be credited to those items in the order in 899
which they became due. Each payment made to a taxing district 900
shall be apportioned among the taxing district's several funds for 901
which taxes or assessments have been levied. 902

       (6) When an installment payment is not received by the 903
treasurer when due under a delinquent tax contract entered into 904
under division (A) of this section or any current taxes or special 905
assessments charged against the property become unpaid, the 906
delinquent tax contract becomes void unless the treasurer permits 907
a new delinquent tax contract to be entered into; if the treasurer 908
does not permit a new delinquent tax contract to be entered into, 909
the treasurer shall certify to the auditor that the delinquent tax 910
contract has become void. 911

       (7) Upon receipt of ~~such a~~ certification described in 912
division (A)(6) of this section, the auditor shall destroy the 913
duplicate copy of the voided delinquent tax contract. If such copy 914
has been filed with the prosecuting attorney, the auditor 915
immediately shall deliver the certification to the prosecuting 916
attorney, who shall attach it to the appropriate certificate and 917
the duplicate copy of the voided delinquent tax contract or strike 918
through the asterisk entered in the margin of the master list next 919
to the entry for the tract or lot that is the subject of the 920
voided delinquent tax contract. The prosecuting attorney then 921
shall institute a proceeding to foreclose the lien of the state in 922
accordance with section 323.25 or 5721.18 of the Revised Code or, 923
in the case of delinquent vacant land, a foreclosure proceeding in 924
accordance with section 323.25 or 5721.18 of the Revised Code, or 925
a foreclosure and forfeiture proceeding in accordance with section 926
5721.14 of the Revised Code. In the case of a manufactured or 927
mobile home, the county treasurer shall cause a civil action to be 928
brought as provided under division (H) of section 4503.06 of the 929
Revised Code. 930

       (B) If there is an outstanding tax certificate respecting a 931
delinquent parcel under section 5721.32 or 5721.33 of the Revised 932
Code, a written delinquent tax contract may not be entered into 933
under this section. To redeem a tax certificate in installments, 934
the owner or other person seeking to redeem the tax certificate 935
shall enter into a redemption payment plan under division (C) of 936
section 5721.38 of the Revised Code. 937

       (C) As used in this section, "unpaid current taxes" means any 938
current taxes charged on the general tax list and duplicate of 939
real and public utility property or the manufactured home tax list 940
and duplicate that remain unpaid after the last day prescribed for 941
payment of the first installment of such taxes without penalty, 942
and any penalties associated with such taxes. 943

       Sec. 4503.06. (A) The owner of each manufactured or mobile 944
home that has acquired situs in this state shall pay either a real 945
property tax pursuant to Title LVII of the Revised Code or a 946
manufactured home tax pursuant to division (C) of this section. 947

       (B) The owner of a manufactured or mobile home shall pay real 948
property taxes if either of the following applies: 949

       (1) The manufactured or mobile home acquired situs in the 950
state or ownership in the home was transferred on or after January 951
1, 2000, and all of the following apply: 952

       (a) The home is affixed to a permanent foundation as defined 953
in division (C)(5) of section 3781.06 of the Revised Code; 954

       (b) The home is located on land that is owned by the owner of 955
the home; 956

       (c) The certificate of title has been inactivated by the 957
clerk of the court of common pleas that issued it, pursuant to 958
division (H) of section 4505.11 of the Revised Code. 959

       (2) The manufactured or mobile home acquired situs in the 960
state or ownership in the home was transferred before January 1, 961
2000, and all of the following apply: 962

       (a) The home is affixed to a permanent foundation as defined 963
in division (C)(5) of section 3781.06 of the Revised Code; 964

       (b) The home is located on land that is owned by the owner of 965
the home; 966

       (c) The owner of the home has elected to have the home taxed 967
as real property and, pursuant to section 4505.11 of the Revised 968
Code, has surrendered the certificate of title to the auditor of 969
the county containing the taxing district in which the home has 970
its situs, together with proof that all taxes have been paid; 971

       (d) The county auditor has placed the home on the real 972
property tax list and delivered the certificate of title to the 973
clerk of the court of common pleas that issued it and the clerk 974
has inactivated the certificate. 975

       (C)(1) Any mobile or manufactured home that is not taxed as 976
real property as provided in division (B) of this section is 977
subject to an annual manufactured home tax, payable by the owner, 978
for locating the home in this state. The tax as levied in this 979
section is for the purpose of supplementing the general revenue 980
funds of the local subdivisions in which the home has its situs 981
pursuant to this section. 982

       (2) The year for which the manufactured home tax is levied 983
commences on the first day of January and ends on the following 984
thirty-first day of December. The state shall have the first lien 985
on any manufactured or mobile home on the list for the amount of 986
taxes, penalties, and interest charged against the owner of the 987
home under this section. The lien of the state for the tax for a 988
year shall attach on the first day of January to a home that has 989
acquired situs on that date. The lien for a home that has not 990
acquired situs on the first day of January, but that acquires 991
situs during the year, shall attach on the next first day of 992
January. The lien shall continue until the tax, including any 993
penalty or interest, is paid. 994

       (3)(a) The situs of a manufactured or mobile home located in 995
this state on the first day of January is the local taxing 996
district in which the home is located on that date. 997

       (b) The situs of a manufactured or mobile home not located in 998
this state on the first day of January, but located in this state 999
subsequent to that date, is the local taxing district in which the 1000
home is located thirty days after it is acquired or first enters 1001
this state. 1002

       (4) The tax is collected by and paid to the county treasurer 1003
of the county containing the taxing district in which the home has 1004
its situs. 1005

       (D) The manufactured home tax shall be computed and assessed 1006
by the county auditor of the county containing the taxing district 1007
in which the home has its situs as follows: 1008

       (1) On a home that acquired situs in this state prior to 1009
January 1, 2000; 1010

       (a) By multiplying the assessable value of the home by the 1011
tax rate of the taxing district in which the home has its situs, 1012
and deducting from the product thus obtained any reduction 1013
authorized under section 4503.065 of the Revised Code. The tax 1014
levied under this formula shall not be less than thirty-six 1015
dollars, unless the home qualifies for a reduction in assessable 1016
value under section 4503.065 of the Revised Code, in which case 1017
there shall be no minimum tax and the tax shall be the amount 1018
calculated under this division. 1019

       (b) The assessable value of the home shall be forty per cent 1020
of the amount arrived at by the following computation: 1021

       (i) If the cost to the owner, or market value at time of 1022
purchase, whichever is greater, of the home includes the 1023
furnishings and equipment, such cost or market value shall be 1024
multiplied according to the following schedule: 1025

For the first calendar year 1026

in which the 1027

home is owned by the 1028

current owner 80% 1029

2nd calendar year x 75% 1030

3rd " x 70% 1031

4th " x 65% 1032

5th " x 60% 1033

6th " x 55% 1034

7th " x 50% 1035

8th " x 45% 1036

9th " x 40% 1037

10th and each year thereafter 35% 1038

       The first calendar year means any period between the first 1039
day of January and the thirty-first day of December of the first 1040
year. 1041

       (ii) If the cost to the owner, or market value at the time of 1042
purchase, whichever is greater, of the home does not include the 1043
furnishings and equipment, such cost or market value shall be 1044
multiplied according to the following schedule: 1045

For the first calendar year 1046

in which the 1047

home is owned by the 1048

current owner 95% 1049

2nd calendar year x 90% 1050

3rd " x 85% 1051

4th " x 80% 1052

5th " x 75% 1053

6th " x 70% 1054

7th " x 65% 1055

8th " x 60% 1056

9th " x 55% 1057

10th and each year thereafter 50% 1058

       The first calendar year means any period between the first 1059
day of January and the thirty-first day of December of the first 1060
year. 1061

       (2) On a home in which ownership was transferred or that 1062
first acquired situs in this state on or after January 1, 2000: 1063

       (a) By multiplying the assessable value of the home by the 1064
effective tax rate, as defined in section 323.08 of the Revised 1065
Code, for residential real property of the taxing district in 1066
which the home has its situs, and deducting from the product thus 1067
obtained the reductions required or authorized under section 1068
319.302, division (B) of section 323.152, or section 4503.065 of 1069
the Revised Code. 1070

       (b) The assessable value of the home shall be thirty-five per 1071
cent of its true value as determined under division (L) of this 1072
section. 1073

       (3) On or before the fifteenth day of January each year, the 1074
county auditor shall record the assessable value and the amount of 1075
tax on the manufactured or mobile home on the tax list and deliver 1076
a duplicate of the list to the county treasurer. In the case of an 1077
emergency as defined in section 323.17 of the Revised Code, the 1078
tax commissioner, by journal entry, may extend the times for 1079
delivery of the duplicate for an additional fifteen days upon 1080
receiving a written application from the county auditor regarding 1081
an extension for the delivery of the duplicate, or from the county 1082
treasurer regarding an extension of the time for the billing and 1083
collection of taxes. The application shall contain a statement 1084
describing the emergency that will cause the unavoidable delay and 1085
must be received by the tax commissioner on or before the last day 1086
of the month preceding the day delivery of the duplicate is 1087
otherwise required. When an extension is granted for delivery of 1088
the duplicate, the time period for payment of taxes shall be 1089
extended for a like period of time. When a delay in the closing of 1090
a tax collection period becomes unavoidable, the tax commissioner, 1091
upon application by the county auditor and county treasurer, may 1092
order the time for payment of taxes to be extended if the tax 1093
commissioner determines that penalties have accrued or would 1094
otherwise accrue for reasons beyond the control of the taxpayers 1095
of the county. The order shall prescribe the final extended date 1096
for payment of taxes for that collection period. 1097

       (4) After January 1, 1999, the owner of a manufactured or 1098
mobile home taxed pursuant to division (D)(1) of this section may 1099
elect to have the home taxed pursuant to division (D)(2) of this 1100
section by filing a written request with the county auditor of the 1101
taxing district in which the home is located on or before the 1102
first day of December of any year. Upon the filing of the request, 1103
the county auditor shall determine whether all taxes levied under 1104
division (D)(1) of this section have been paid, and if those taxes 1105
have been paid, the county auditor shall tax the manufactured or 1106
mobile home pursuant to division (D)(2) of this section commencing 1107
in the next tax year. 1108

       (5) A manufactured or mobile home that acquired situs in this 1109
state prior to January 1, 2000, shall be taxed pursuant to 1110
division (D)(2) of this section if no manufactured home tax had 1111
been paid for the home and the home was not exempted from taxation 1112
pursuant to division (E) of this section for the year for which 1113
the taxes were not paid. 1114

       (6)(a) Immediately upon receipt of any manufactured home tax 1115
duplicate from the county auditor, but not less than twenty days 1116
prior to the last date on which the first one-half taxes may be 1117
paid without penalty as prescribed in division (F) of this 1118
section, the county treasurer shall cause to be prepared and 1119
mailed or delivered to each person charged on that duplicate with 1120
taxes, or to an agent designated by such person, the tax bill 1121
prescribed by the tax commissioner under division (D)(7) of this 1122
section. When taxes are paid by installments, the county treasurer 1123
shall mail or deliver to each person charged on such duplicate or 1124
the agent designated by ~~such~~that person a second tax bill showing 1125
the amount due at the time of the second tax collection. The 1126
second half tax bill shall be mailed or delivered at least twenty 1127
days prior to the close of the second half tax collection period. 1128
A change in the mailing address of any tax bill shall be made in 1129
writing to the county treasurer. Failure to receive a bill 1130
required by this section does not excuse failure or delay to pay 1131
any taxes shown on the bill or, except as provided in division (A) 1132
of section 5715.39 of the Revised Code, avoid any penalty, 1133
interest, or charge for such delay. 1134

       (b) After delivery of the copy of the delinquent manufactured 1135
home tax list under division (H) of this section, the county 1136
treasurer may prepare and mail to each person in whose name a home 1137
is listed an additional tax bill showing the total amount of 1138
delinquent taxes charged against the home as shown on the list. 1139
The tax bill shall include a notice that the interest charge 1140
prescribed by division (G) of this section has begun to accrue. 1141

       (7) Each tax bill prepared and mailed or delivered under 1142
division (D)(6) of this section shall be in the form and contain 1143
the information required by the tax commissioner. The commissioner 1144
may prescribe different forms for each county and may authorize 1145
the county auditor to make up tax bills and tax receipts to be 1146
used by the county treasurer. The tax bill shall not contain or be 1147
mailed or delivered with any information or material that is not 1148
required by this section or that is not authorized by section 1149
321.45 of the Revised Code or by the tax commissioner. In addition 1150
to the information required by the commissioner, each tax bill 1151
shall contain the following information: 1152

       (a) The taxes levied and the taxes charged and payable 1153
against the manufactured or mobile home; 1154

       (b) The following notice: "Notice: If the taxes are not paid 1155
within sixty days after the county auditor delivers the delinquent 1156
manufactured home tax list to the county treasurer, you and your 1157
home may be subject to collection proceedings for tax 1158
delinquency." Failure to provide such notice has no effect upon 1159
the validity of any tax judgment to which a home may be subjected. 1160

       (c) In the case of manufactured or mobile homes taxed under 1161
division (D)(2) of this section, the following additional 1162
information: 1163

       (i) The effective tax rate. The words "effective tax rate" 1164
shall appear in boldface type. 1165

       (ii) The following notice: "Notice: If the taxes charged 1166
against this home have been reduced by the 2-1/2 per cent tax 1167
reduction for residences occupied by the owner but the home is not 1168
a residence occupied by the owner, the owner must notify the 1169
county auditor's office not later than March 31 of the year for 1170
which the taxes are due. Failure to do so may result in the owner 1171
being convicted of a fourth degree misdemeanor, which is 1172
punishable by imprisonment up to 30 days, a fine up to $250, or 1173
both, and in the owner having to repay the amount by which the 1174
taxes were erroneously or illegally reduced, plus any interest 1175
that may apply. 1176

       If the taxes charged against this home have not been reduced 1177
by the 2-1/2 per cent tax reduction and the home is a residence 1178
occupied by the owner, the home may qualify for the tax reduction. 1179
To obtain an application for the tax reduction or further 1180
information, the owner may contact the county auditor's office at 1181
.......... (insert the address and telephone number of the county 1182
auditor's office)." 1183

       (E)(1) A manufactured or mobile home is not subject to this 1184
section when any of the following applies: 1185

       (a) It is taxable as personal property pursuant to section 1186
5709.01 of the Revised Code. Any manufactured or mobile home that 1187
is used as a residence shall be subject to this section and shall 1188
not be taxable as personal property pursuant to section 5709.01 of 1189
the Revised Code. 1190

       (b) It bears a license plate issued by any state other than 1191
this state unless the home is in this state in excess of an 1192
accumulative period of thirty days in any calendar year. 1193

       (c) The annual tax has been paid on the home in this state 1194
for the current year. 1195

       (d) The tax commissioner has determined, pursuant to section 1196
5715.27 of the Revised Code, that the property is exempt from 1197
taxation, or would be exempt from taxation under Chapter 5709. of 1198
the Revised Code if it were classified as real property. 1199

       (2) A travel trailer or park trailer, as these terms are 1200
defined in section 4501.01 of the Revised Code, is not subject to 1201
this section if it is unused or unoccupied and stored at the 1202
owner's normal place of residence or at a recognized storage 1203
facility. 1204

       (3) A travel trailer or park trailer, as these terms are 1205
defined in section 4501.01 of the Revised Code, is subject to this 1206
section and shall be taxed as a manufactured or mobile home if it 1207
has a situs longer than thirty days in one location and is 1208
connected to existing utilities, unless either of the following 1209
applies: 1210

       (a) The situs is in a state facility or a camping or park 1211
area as defined in division (B), (G), (H), or (R) of section 1212
3733.01 of the Revised Code; 1213

       (b) The situs is in a camping or park area that is a tract of 1214
land that has been limited to recreational use by deed or zoning 1215
restrictions and subdivided for sale of five or more individual 1216
lots for the express or implied purpose of occupancy by either 1217
self-contained recreational vehicles as defined in division (E) of 1218
section 3733.01 of the Revised Code or by dependent recreational 1219
vehicles as defined in division (F) of section 3733.01 of the 1220
Revised Code. 1221

       (F) Except as provided in division (D)(3) of this section, 1222
the manufactured home tax is due and payable as follows: 1223

       (1) When a manufactured or mobile home has a situs in this 1224
state, as provided in this section, on the first day of January, 1225
one-half of the amount of the tax is due and payable on or before 1226
the first day of March and the balance is due and payable on or 1227
before the thirty-first day of July. At the option of the owner of 1228
the home, the tax for the entire year may be paid in full on the 1229
first day of March. 1230

       (2) When a manufactured or mobile home first acquires a situs 1231
in this state after the first day of January, no tax is due and 1232
payable for that year. 1233

       (G)(1) If(a) Except as otherwise provided in division 1234
(G)(1)(b) of this section, if one-half of the current taxes 1235
charged under this section against a manufactured or mobile home, 1236
together with the full amount of any delinquent taxes ~~or any~~ 1237
~~installment thereof required to be paid under a written~~ 1238
~~undertaking~~, are not paid on or before the ~~thirty-first day of~~ 1239
~~January~~first day of March in that year, or on or before the last 1240
day for such payment as extended pursuant to section 4503.063 of 1241
the Revised Code, a penalty of ten per cent shall be charged 1242
against the unpaid balance of such half of the current taxes. If 1243
the total amount of all such taxes is not paid on or before the 1244
thirty-first day of July, next thereafter, or on or before the 1245
last day for ~~such~~ payment as extended pursuant to section 4503.063 1246
of the Revised Code, a like penalty shall be charged on the 1247
balance of the total amount of ~~such~~the unpaid current taxes. 1248

       (b) After a valid delinquent tax contract that includes 1249
unpaid current taxes from a first-half collection period described 1250
in division (F) of this section has been entered into under 1251
section 323.31 of the Revised Code, no ten per cent penalty shall 1252
be charged against such taxes after the second-half collection 1253
period while the delinquent or omitted tax contract remains in 1254
effect. On the day a delinquent or omitted tax contract becomes 1255
void, the ten per cent penalty shall be charged against such taxes 1256
and shall equal the amount of penalty that would have been charged 1257
against unpaid current taxes outstanding on the date on which the 1258
second-half penalty would have been charged thereon under division 1259
(G)(1)(a) of this section if the contract had not been in effect. 1260

       (2)(a) On the first day of the month following the last day 1261
the second installment of taxes may be paid without penalty 1262
beginning in 2000, interest shall be charged against and computed 1263
on all delinquent taxes other than the current taxes that became 1264
delinquent taxes at the close of the last day such second 1265
installment could be paid without penalty. The charge shall be for 1266
interest that accrued during the period that began on the 1267
preceding first day of December and ended on the last day of the 1268
month that included the last date such second installment could be 1269
paid without penalty. The interest shall be computed at the rate 1270
per annum prescribed by section 5703.47 of the Revised Code and 1271
shall be entered as a separate item on the delinquent manufactured 1272
home tax list compiled under division (H) of this section. 1273

       (b) On the first day of December beginning in 2000, the 1274
interest shall be charged against and computed on all delinquent 1275
taxes. The charge shall be for interest that accrued during the 1276
period that began on the first day of the month following the last 1277
date prescribed for the payment of the second installment of taxes 1278
in the current year and ended on the immediately preceding last 1279
day of November. The interest shall be computed at the rate per 1280
annum prescribed by section 5703.47 of the Revised Code and shall 1281
be entered as a separate item on the delinquent manufactured home 1282
tax list. 1283

       (c) After a valid undertaking has been entered into for the 1284
payment of any delinquent taxes, no interest shall be charged 1285
against such delinquent taxes while the undertaking remains in 1286
effect in compliance with section 323.31 of the Revised Code. If a 1287
valid undertaking becomes void, interest shall be charged against 1288
the delinquent taxes for the periods that interest was not 1289
permitted to be charged while the undertaking was in effect. The 1290
interest shall be charged on the day the undertaking becomes void 1291
and shall equal the amount of interest that would have been 1292
charged against the unpaid delinquent taxes outstanding on the 1293
dates on which interest would have been charged thereon under 1294
divisions (G)(1) and (2) of this section had the undertaking not 1295
been in effect. 1296

       (3) If the full amount of the taxes due at either of the 1297
times prescribed by division (F) of this section is paid within 1298
ten days after such time, the county treasurer shall waive the 1299
collection of and the county auditor shall remit one-half of the 1300
penalty provided for in this division for failure to make that 1301
payment by the prescribed time. 1302

       (4) The treasurer shall compile and deliver to the county 1303
auditor a list of all tax payments the treasurer has received as 1304
provided in division (G)(3) of this section. The list shall 1305
include any information required by the auditor for the remission 1306
of the penalties waived by the treasurer. The taxes so collected 1307
shall be included in the settlement next succeeding the settlement 1308
then in process. 1309

       (H)(1) Beginning in 2000, the county auditor shall compile 1310
annually a "delinquent manufactured home tax list" consisting of 1311
homes the county treasurer's records indicate have taxes that were 1312
not paid within the time prescribed by divisions (D)(3) and (F) of 1313
this section, have taxes that remain unpaid from prior years, or 1314
have unpaid tax penalties or interest that have been assessed. 1315

       (2) Within thirty days after the settlement under division 1316
(H)(2) of section 321.24 of the Revised Code beginning in 2000, 1317
the county auditor shall deliver a copy of the delinquent 1318
manufactured home tax list to the county treasurer. The auditor 1319
shall update and publish the delinquent manufactured home tax list 1320
annually in the same manner as delinquent real property tax lists 1321
are published. The county auditor shall apportion the cost of 1322
publishing the list among taxing districts in proportion to the 1323
amount of delinquent manufactured home taxes so published that 1324
each taxing district is entitled to receive upon collection of 1325
those taxes. 1326

       (3) When taxes, penalties, or interest are charged against a 1327
person on the delinquent manufactured home tax list and are not 1328
paid within sixty days after the list is delivered to the county 1329
treasurer, the county treasurer shall, in addition to any other 1330
remedy provided by law for the collection of taxes, penalties, and 1331
interest, enforce collection of such taxes, penalties, and 1332
interest by civil action in the name of the treasurer against the 1333
owner for the recovery of the unpaid taxes following the 1334
procedures for the recovery of delinquent real property taxes in 1335
sections 323.25 to 323.28 of the Revised Code. The action may be 1336
brought in municipal or county court, provided the amount charged 1337
does not exceed the monetary limitations for original jurisdiction 1338
for civil actions in those courts. 1339

       It is sufficient, having made proper parties to the suit, for 1340
the county treasurer to allege in the treasurer's bill of 1341
particulars or petition that the taxes stand chargeable on the 1342
books of the county treasurer against such person, that they are 1343
due and unpaid, and that such person is indebted in the amount of 1344
taxes appearing to be due the county. The treasurer need not set 1345
forth any other matter relating thereto. If it is found on the 1346
trial of the action that the person is indebted to the state, 1347
judgment shall be rendered in favor of the county treasurer 1348
prosecuting the action. The judgment debtor is not entitled to the 1349
benefit of any law for stay of execution or exemption of property 1350
from levy or sale on execution in the enforcement of the judgment. 1351

       Upon the filing of an entry of confirmation of sale or an 1352
order of forfeiture in a proceeding brought under this division, 1353
title to the manufactured or mobile home shall be in the 1354
purchaser. The clerk of courts shall issue a certificate of title 1355
to the purchaser upon presentation of proof of filing of the entry 1356
of confirmation or order and, in the case of a forfeiture, 1357
presentation of the county auditor's certificate of sale. 1358

       (I) The total amount of taxes collected shall be distributed 1359
in the following manner: four per cent shall be allowed as 1360
compensation to the county auditor for the county auditor's 1361
service in assessing the taxes; two per cent shall be allowed as 1362
compensation to the county treasurer for the services the county 1363
treasurer renders as a result of the tax levied by this section. 1364
Such amounts shall be paid into the county treasury, to the credit 1365
of the county general revenue fund, on the warrant of the county 1366
auditor. Fees to be paid to the credit of the real estate 1367
assessment fund shall be collected pursuant to division (B) of 1368
section 319.54 of the Revised Code and paid into the county 1369
treasury, on the warrant of the county auditor. The balance of the 1370
taxes collected shall be distributed among the taxing subdivisions 1371
of the county in which the taxes are collected and paid in the 1372
same ratio as those taxes were collected for the benefit of the 1373
taxing subdivision. The taxes levied and revenues collected under 1374
this section shall be in lieu of any general property tax and any 1375
tax levied with respect to the privilege of using or occupying a 1376
manufactured or mobile home in Ohio except as provided in sections 1377
4503.04 and 5741.02 of the Revised Code. 1378

       (J) An agreement to purchase or a bill of sale for a 1379
manufactured home shall show whether or not the furnishings and 1380
equipment are included in the purchase price. 1381

       (K) If the county treasurer and the county prosecuting 1382
attorney agree that an item charged on the delinquent manufactured 1383
home tax list is uncollectible, they shall certify that 1384
determination and the reasons to the county board of revision. If 1385
the board determines the amount is uncollectible, it shall certify 1386
its determination to the county auditor, who shall strike the item 1387
from the list. 1388

       (L)(1) The county auditor shall appraise at its true value 1389
any manufactured or mobile home in which ownership is transferred 1390
or which first acquires situs in this state on or after January 1, 1391
2000, and any manufactured or mobile home the owner of which has 1392
elected, under division (D)(4) of this section, to have the home 1393
taxed under division (D)(2) of this section. The true value shall 1394
include the value of the home, any additions, and any fixtures, 1395
but not any furnishings in the home. In determining the true value 1396
of a manufactured or mobile home, the auditor shall consider all 1397
facts and circumstances relating to the value of the home, 1398
including its age, its capacity to function as a residence, any 1399
obsolete characteristics, and other factors that may tend to prove 1400
its true value. 1401

       (2)(a) If a manufactured or mobile home has been the subject 1402
of an arm's length sale between a willing seller and a willing 1403
buyer within a reasonable length of time prior to the 1404
determination of true value, the county auditor shall consider the 1405
sale price of the home to be the true value for taxation purposes. 1406

       (b) The sale price in an arm's length transaction between a 1407
willing seller and a willing buyer shall not be considered the 1408
true value of the home if either of the following occurred after 1409
the sale: 1410

       (i) The home has lost value due to a casualty; 1411

       (ii) An addition or fixture has been added to the home. 1412

       (3) The county auditor shall have each home viewed and 1413
appraised at least once in each six-year period in the same year 1414
in which real property in the county is appraised pursuant to 1415
Chapter 5713. of the Revised Code, and shall update the appraised 1416
values in the third calendar year following the appraisal. The 1417
person viewing or appraising a home may enter the home to 1418
determine by actual view any additions or fixtures that have been 1419
added since the last appraisal. In conducting the appraisals and 1420
establishing the true value, the auditor shall follow the 1421
procedures set forth for appraising real property in sections 1422
5713.01 and 5713.03 of the Revised Code. 1423

       (4) The county auditor shall place the true value of each 1424
home on the manufactured home tax list upon completion of an 1425
appraisal. 1426

       (5)(a) If the county auditor changes the true value of a 1427
home, the auditor shall notify the owner of the home in writing, 1428
delivered by mail or in person. The notice shall be given at least 1429
thirty days prior to the issuance of any tax bill that reflects 1430
the change. Failure to receive the notice does not invalidate any 1431
proceeding under this section. 1432

       (b) Any owner of a home or any other person or party listed 1433
in division (A)(1) of section 5715.19 of the Revised Code may file 1434
a complaint against the true value of the home as appraised under 1435
this section. The complaint shall be filed with the county 1436
auditor on or before the thirty-first day of March of the current 1437
tax year or the date of closing of the collection for the first 1438
half of manufactured home taxes for the current tax year, 1439
whichever is later. The auditor shall present to the county board 1440
of revision all complaints filed with the auditor under this 1441
section. The board shall hear and investigate the complaint and 1442
may take action on it as provided under sections 5715.11 to 1443
5715.19 of the Revised Code. 1444

       (c) If the county board of revision determines, pursuant to a 1445
complaint against the valuation of a manufactured or mobile home 1446
filed under this section, that the amount of taxes, assessments, 1447
or other charges paid was in excess of the amount due based on the 1448
valuation as finally determined, then the overpayment shall be 1449
refunded in the manner prescribed in section 5715.22 of the 1450
Revised Code. 1451

       (d) Payment of all or part of a tax under this section for 1452
any year for which a complaint is pending before the county board 1453
of revision does not abate the complaint or in any way affect the 1454
hearing and determination thereof. 1455

       (M) If the county auditor determines that any tax, 1456
~~assessment,~~or other charge, or any part thereof has been 1457
erroneously charged as a result of a clerical error as defined in 1458
section 319.35 of the Revised Code, the county ~~treasurer and~~ 1459
auditor shall call the attention of the county board of revision 1460
to the erroneous charges. If the board finds that the taxes or 1461
other charges have been erroneously charged or collected, it shall 1462
certify the finding to the auditor. Upon receipt of the 1463
certification, the auditor shall remove the erroneous charges on 1464
the manufactured home tax list or delinquent manufactured home tax 1465
list in the same manner as is prescribed in section 319.35 of the 1466
Revised Code for erroneous charges against real property, and 1467
refund any erroneous charges that have been collected, with 1468
interest, in the same manner as is prescribed in section 319.36 of 1469
the Revised Code for erroneous charges against real property. 1470

       (N) As used in this section and section 4503.061 of the 1471
Revised Code: 1472

       (1) "Manufactured home taxes" includes taxes, penalties, and 1473
interest charged under division (C) or (G) of this section and any 1474
penalties charged under division (G) or (H)(5) of section 4503.061 1475
of the Revised Code. 1476

       (2) "Current taxes" means all manufactured home taxes charged 1477
against a manufactured or mobile home that have not appeared on 1478
the manufactured home tax list for any prior year. Current taxes 1479
become delinquent taxes if they remain unpaid after the last day 1480
prescribed for payment of the second installment of current taxes 1481
without penalty, whether or not they have been certified 1482
delinquent. 1483

       (3) "Delinquent taxes" means: 1484

       (a) Any manufactured home taxes that were charged against a 1485
manufactured or mobile home for a prior year, including any 1486
penalties or interest charged for a prior year, and that remain 1487
unpaid; 1488

       (b) Any current manufactured home taxes charged against a 1489
manufactured or mobile home that remain unpaid after the last day 1490
prescribed for payment of the second installment of current taxes 1491
without penalty, whether or not they have been certified 1492
delinquent, including any penalties or interest. 1493

       Sec. 5713.20. (A) If the county auditor discovers that any 1494
building, structure, or tract of land or any lot or part of 1495
either, has been omitted from the list of real property, the 1496
auditor shall add it to the list, with the name of the owner, and 1497
ascertain the taxable value thereof and place it opposite such 1498
property. The county auditor shall compute the sum of the simple 1499
taxes for the preceding years in which ~~such~~the property was 1500
omitted from the list of real property, not exceeding five years, 1501
unless in the meantime the property has changed ownership, in 1502
which case only the taxes chargeable since the last change of 1503
ownership shall be computed. No penalty or interest shall be added 1504
to the amount of taxes so computed. 1505

       The county auditor shall order the county treasurer to 1506
correct the duplicate of real property accordingly, and shall 1507
certify to the county treasurer the sum of taxes determined by the 1508
county auditor under this section to be due on the omitted 1509
property. The county treasurer thereupon shall notify the owner by 1510
certified mail, return receipt requested, of the sum of taxes due, 1511
and inform the owner that the owner may enter into ~~a delinquent~~an 1512
omitted tax contract with the county treasurer to pay the taxes in 1513
installments, or that the owner, if the owner desires, may pay the 1514
amount of such taxes into the county treasury. 1515

       ~~A delinquent~~(B) An omitted tax contract entered into under 1516
this section for the payment of taxes in installments shall 1517
require that the installments be payable at the times and in the 1518
amounts specified by the county treasurer in the contract. The 1519
owner may request, and the treasurer shall allow, ~~a delinquent~~an 1520
omitted tax contract providing for payment in installments over no 1521
fewer than two years; however, the treasurer shall not permit a 1522
contract to provide for payment in installments over more than 1523
five years. Each installment payment shall be apportioned among 1524
the several funds for which the taxes on the omitted property 1525
would have been assessed had the property not been omitted, and 1526
shall be applied to the items of taxes charged in the order in 1527
which they became due. If an installment payment is not received 1528
by the county treasurer when due, or any payment of current taxes 1529
is not made when due, the contract becomes void, and the county 1530
treasurer shall order payment of the entire outstanding balance of 1531
taxes determined to be due under this section in one lump-sum 1532
payment. 1533

       Sec. 5721.10. Except as otherwise provided under sections 1534
5721.30 to ~~5721.42~~5721.43 of the Revised Code, the state shall 1535
have the first lien on the lands and lots described in the 1536
delinquent land list, for the amount of taxes, assessments, 1537
interest, and penalty charged prior to the delivery of such list. 1538
If the taxes have not been paid for one year after having been 1539
certified as delinquent, the state shall institute foreclosure 1540
proceedings in the manner provided by sections 5721.01 to 5721.28 1541
of the Revised Code, unless a tax certificate respecting that 1542
property has been sold under section 5721.32 or 5721.33 of the 1543
Revised Code, or unless such taxes are the subject of a valid 1544
delinquent tax contract under section 323.31 of the Revised Code 1545
for which the county treasurer has not made certification to the 1546
county auditor that the delinquent tax contract has become void. 1547
The court shall levy, as costs in the foreclosure proceedings 1548
instituted on ~~said~~the certification of delinquency, the cost of 1549
an abstract or certificate of title to the property described in 1550
~~said~~the certification, if ~~the same~~it is required by the court, 1551
to be paid into the general fund of the county. Sections 5721.01 1552
to 5721.28 of the Revised Code do not prevent the partial payment 1553
of such delinquent taxes, assessments, interest, and penalty 1554
during the period the delinquency is being discharged in 1555
accordance with a delinquent tax contract under section 323.31 of 1556
the Revised Code, but ~~such~~the partial payments may be made and 1557
received as provided by law without prejudice to the right of the 1558
state to institute foreclosure proceedings for any amount then 1559
remaining unpaid, if the county treasurer certifies to the county 1560
auditor that the delinquent tax contract has become void. 1561

       Sec. 5721.30. As used in sections 5721.30 to ~~5721.42~~5721.43 1562
of the Revised Code: 1563

       (A) "Tax certificate," "certificate," or "duplicate 1564
certificate" means a document ~~which~~that may be issued as a 1565
physical certificate, in book-entry form, or through an electronic 1566
medium, at the discretion of the county treasurer. Such document 1567
shall contain the information required by section 5721.31 of the 1568
Revised Code and shall be prepared, transferred, or redeemed in 1569
the manner prescribed by sections 5721.30 to ~~5721.41~~5721.43 of 1570
the Revised Code. As used in those sections, "tax certificate," 1571
"certificate," and "duplicate certificate" do not refer to the 1572
delinquent land tax certificate or the delinquent vacant land tax 1573
certificate issued under section 5721.13 of the Revised Code. 1574

       (B) "Certificate parcel" means the parcel of delinquent land 1575
that is the subject of and is described in a tax certificate. 1576

       (C) "Certificate holder" means a person who purchases a tax 1577
certificate under section 5721.32 or, 5721.33, or 5721.42 of the 1578
Revised Code, or a person to whom a tax certificate has been 1579
transferred pursuant to section 5721.36 of the Revised Code. 1580

       (D) "Certificate purchase price" means, with respect to the 1581
sale of tax certificates under sections 5721.32 ~~and~~, 5721.33, and 1582
5721.42 of the Revised Code, the amount equal to delinquent taxes, 1583
assessments, penalties, and interest computed under section 1584
323.121 of the Revised Code charged against a certificate parcel 1585
at the time the tax certificate respecting that parcel is sold, 1586
not including any delinquent taxes, assessments, penalties, 1587
interest, and charges, the lien for which has been conveyed to a 1588
certificate holder through a prior sale of a tax certificate 1589
respecting that parcel; provided, however, that payment of the 1590
certificate purchase price in a sale under section 5721.33 of the 1591
Revised Code may be made wholly in cash or partially in cash and 1592
partially by noncash consideration acceptable to the county 1593
treasurer from the purchaser. In the event that any such noncash 1594
consideration is delivered to pay a portion of the certificate 1595
purchase price, such noncash consideration may be subordinate to 1596
the rights of the holders of other obligations whose proceeds paid 1597
the cash portion of the certificate purchase price. 1598

       "Certificate purchase price" also includes the amount of the 1599
fee charged by the county treasurer to the purchaser of the 1600
certificate under division (H) of section 5721.32 of the Revised 1601
Code. 1602

       (E) With respect to a sale of tax certificates under section 1603
5721.32 of the Revised Code ~~and except as provided in division~~ 1604
~~(E)(3) of this section~~, "certificate redemption price" means the 1605
~~amount determined under division (E)(1) or (2) of this section.~~ 1606

       ~~(1) During the first year after the date on which a tax~~ 1607
~~certificate is sold, the sum of the following:~~ 1608

       ~~(a) The~~ certificate purchase price; 1609

       ~~(b) The~~plus the greater of the following: 1610

       ~~(i)~~(1) Interest, at the certificate rate of interest, 1611
accruing during the certificate interest period on the certificate 1612
purchase price, calculated in accordance with section 5721.41 of 1613
the Revised Code; 1614

       ~~(ii)~~(2) Six per cent of the certificate purchase price 1615
assessed the first day after the sale. 1616

       ~~(c) The fee charged by the county treasurer to the purchaser~~ 1617
~~of the certificate under division (H) of section 5721.32 of the~~ 1618
~~Revised Code.~~ 1619

       ~~(2) After the first year after the date on which a tax~~ 1620
~~certificate is sold, the sum of the following:~~ 1621

       ~~(a)(i) If division (E)(1)(b)(i) applied during the first~~ 1622
~~year, the certificate purchase price;~~ 1623

       ~~(ii) If division (E)(1)(b)(ii) applied during the first year,~~ 1624
~~the sum of the certificate purchase price plus six per cent of the~~ 1625
~~certificate purchase price.~~ 1626

       ~~(b)(i) If division (E)(1)(b)(i) applied during the first~~ 1627
~~year, interest at the certificate rate of interest accruing during~~ 1628
~~the certificate interest period on the certificate purchase price;~~ 1629

       ~~(ii) If division (E)(1)(b)(ii) applied during the first year,~~ 1630
~~interest at the certificate rate of interest, accruing during the~~ 1631
~~part of the certificate interest period that begins one year after~~ 1632
~~the date of the sale of the certificate, on the sum of the~~ 1633
~~certificate purchase price plus six per cent of the certificate~~ 1634
~~purchase price.~~ 1635

       ~~(c) The fee charged by the county treasurer to the purchaser~~ 1636
~~of the certificate under division (H) of section 5721.32 of the~~ 1637
~~Revised Code.~~ 1638

       ~~(3) If the certificate rate of interest equals zero, the~~ 1639
~~certificate redemption price equals the certificate purchase price~~ 1640
~~plus the fee charged by the county treasurer to the purchaser of~~ 1641
~~the certificate under division (H) of section 5721.32 of the~~ 1642
~~Revised Code.~~ 1643

       (F) With respect to a sale of tax certificates under section 1644
5721.33 of the Revised Code, "certificate redemption price" means 1645
the amount equal to the sum of the following: 1646

       (1) The certificate purchase price; 1647

       (2) Interest accrued on the certificate purchase price at the 1648
certificate rate of interest from the date on which a tax 1649
certificate is delivered through and including the day immediately 1650
preceding the day on which the certificate redemption price is 1651
paid; 1652

       (3) The fee, if any, charged by the county treasurer to the 1653
purchaser of the certificate under division (J) of section 5721.33 1654
of the Revised Code; 1655

       (4) Any other fees charged by any county office in connection 1656
with the recording of tax certificates. 1657

       (G) "Certificate rate of interest" means the rate of simple 1658
interest per year bid by the winning bidder in an auction of a tax 1659
certificate held under section 5721.32 of the Revised Code, or the 1660
rate of simple interest per year not to exceed eighteen per cent 1661
per year fixed pursuant to section 5721.42 of the Revised Code or 1662
by the county treasurer with respect to any tax certificate sold 1663
pursuant to a negotiated sale under section 5721.33 of the Revised 1664
Code. 1665

       (H) "Cash" means United States currency, certified checks, 1666
money orders, bank drafts, or electronic transfer of funds, and 1667
excludes any other form of payment. 1668

       (I) "The date on which a tax certificate is sold," "the date 1669
the certificate was sold," "the date the certificate is 1670
purchased," and any other phrase of similar content mean, with 1671
respect to a sale pursuant to an auction under section 5721.32 of 1672
the Revised Code, the date designated by the county treasurer for 1673
the submission of bids and, with respect to a negotiated sale 1674
under section 5721.33 of the Revised Code, the date of delivery of 1675
the tax certificates to the purchasers thereof pursuant to a tax 1676
certificate sale/purchase agreement. 1677

       (J) "Purchaser of a tax certificate pursuant to section 1678
5721.32 of the Revised Code" means the winning bidder in an 1679
auction of a tax certificate held under section 5721.32 of the 1680
Revised Code. 1681

       (K) "Certificate interest period" means, with respect to a 1682
tax certificate sold under section 5721.32 or 5721.42 of the 1683
Revised Code, the period beginning on the first day of the first 1684
month after the date on which the certificate is purchased and, 1685
with respect to a tax certificate sold under section 5721.33 of 1686
the Revised Code, the period beginning on the date of delivery of 1687
the tax certificate, and in either case ending on one of the 1688
following dates: 1689

       (1) In the case of foreclosure proceedings instituted under 1690
section 5721.37 of the Revised Code, the date the certificate 1691
holder submits a payment to the treasurer under division (B) of 1692
that section; 1693

       (2) In the case of a certificate parcel redeemed under 1694
division (A) or (C) of section 5721.38 of the Revised Code, the 1695
date the owner of record of the certificate parcel, or any other 1696
person entitled to redeem that parcel, pays to the county 1697
treasurer or to the certificate holder, as applicable, the full 1698
amount determined under that section. 1699

       (L) "County treasurer" means, with respect to the sale of tax 1700
certificates under section 5721.32, or 5721.33 of the Revised 1701
Code, the county treasurer of a county having a population of at 1702
least two hundred thousand according to the then most recent 1703
federal decennial census. 1704

       (M) "Qualified trustee" means a trust company within the 1705
state or a bank having the power of a trust company within the 1706
state with a combined capital stock, surplus, and undivided 1707
profits of at least one hundred million dollars. 1708

       (N) "Tax certificate sale/purchase agreement" means the 1709
purchase and sale agreement described in division (C) of section 1710
5721.33 of the Revised Code setting forth the certificate purchase 1711
price, plus any applicable premium or less any applicable 1712
discount, including, without limitation, the amount ~~thereof~~ to be 1713
paid in cash and the amount and nature of any noncash 1714
consideration, the date of delivery of the tax certificates, and 1715
the other terms and conditions of the sale, including, without 1716
limitation, the rate of interest that the tax certificates shall 1717
bear. 1718

       (O) "Noncash consideration" means any form of consideration 1719
other than cash, including, but not limited to, promissory notes 1720
whether subordinate or otherwise. 1721

       (P) "Private attorney" means for purposes of section 5721.37 1722
of the Revised Code, any attorney licensed to practice law in this 1723
state, whether practicing with a firm of attorneys or otherwise, 1724
whose license has not been revoked or otherwise suspended and who 1725
brings foreclosure proceedings pursuant to section 5721.37 of the 1726
Revised Code on behalf of a certificate holder. 1727

       (Q) "Related certificate parcel" means, with respect to a 1728
certificate holder, the certificate parcel with respect to which 1729
the certificate holder has purchased and holds a tax certificate 1730
pursuant to sections 5721.30 to ~~5721.41~~5721.43 of the Revised 1731
Code and, with respect to a tax certificate, the certificate 1732
parcel against which the tax certificate has been sold pursuant to 1733
those sections. 1734

       Sec. 5721.31. (A) After receipt of a duplicate of the 1735
delinquent land list compiled under section 5721.011 of the 1736
Revised Code, or a delinquent land list compiled previously under 1737
that section, for a county having a population of at least two 1738
hundred thousand according to the most recent federal decennial 1739
census, the county treasurer may select from the list parcels of 1740
delinquent land the lien against which the county treasurer may 1741
attempt to transfer by the sale of tax certificates under sections 1742
5721.30 to ~~5721.41~~5721.43 of the Revised Code. The county 1743
treasurer may select only those eligible parcels for which taxes, 1744
assessments, penalties, interest, and charges have not yet been 1745
paid or for which a valid delinquent tax contract under section 1746
323.31 of the Revised Code is not in force. Each certificate shall 1747
contain the same information as is required to be contained in the 1748
delinquent land list. The county treasurer shall compile a 1749
separate list, the list of parcels selected for tax certificate 1750
sales, including the same information as is required to be 1751
included in the delinquent land list. 1752

       Upon compiling the list of parcels selected for tax 1753
certificate sales, the county treasurer may conduct a title search 1754
for any parcel on the list. 1755

       (B)(1) ~~When~~Except as otherwise provided in division (B)(3) 1756
of this section, when tax certificates are to be sold under 1757
section 5721.32 of the Revised Code with respect to parcels, the 1758
county treasurer shall send written notice by certified or 1759
registered mail to either the owner of record or all interested 1760
parties discoverable through a title search, or both, of each 1761
parcel on the list. A notice to an owner shall be sent to the 1762
owner's last known tax mailing address. The notice shall inform 1763
the owner or interested parties that a tax certificate will be 1764
offered for sale on the parcel, and that the owner or interested 1765
parties may incur additional expenses as a result of the sale. 1766

       (2) ~~When~~Except as otherwise provided in division (B)(3) of 1767
this section, when tax certificates are to be sold under section 1768
5721.33 of the Revised Code with respect to parcels, the county 1769
treasurer, at least ~~sixty~~thirty days prior to the date of sale of 1770
such tax certificates, shall send written notice of the sale by 1771
certified or registered mail, or both, to the last known 1772
tax-mailing address of the record owner of the property or parcel 1773
and may send such notice to all parties with an interest in the 1774
property that has been recorded in the property records of the 1775
county pursuant to section 317.08 of the Revised Code~~, the~~. The 1776
notice shall state that a tax certificate will be offered for sale 1777
on the parcel, and that the owner or interested parties may incur 1778
additional expenses as a result of the sale. 1779

       (3) The county treasurer is not required to send a notice 1780
under division (B)(1) or (B)(2) of this section if the treasurer 1781
previously has attempted to send such notice to the owner of the 1782
parcel and the notice has been returned by the post office as 1783
undeliverable. The absence of a valid tax mailing address for the 1784
owner of a parcel does not preclude the county treasurer from 1785
selling a tax certificate for the parcel. 1786

       (C) The county treasurer shall advertise the sale of tax 1787
certificates under section 5721.32 of the Revised Code in a 1788
newspaper of general circulation in the county, once a week for 1789
two consecutive weeks. The advertisement shall include the date, 1790
the time, and the place of the public auction, descriptions of the 1791
parcels, and the names of the owners of record of the parcels. 1792

       (D) After the county treasurer has compiled the list of 1793
parcels selected for tax certificate sales but before a tax 1794
certificate respecting a parcel is sold, if the owner of record of 1795
the parcel pays to the county treasurer in cash the full amount of 1796
delinquent taxes, assessments, penalties, interest, and charges 1797
then due and payable or enters into a valid delinquent tax 1798
contract under section 323.31 of the Revised Code to pay that 1799
amount, the owner of record of the parcel also shall pay a fee in 1800
an amount prescribed by the treasurer to cover the administrative 1801
costs of the treasurer under this section respecting the parcel 1802
and credited to the tax certificate administration fund. 1803

       (E) A tax certificate administration fund shall be created in 1804
the county treasury of each county selling tax certificates under 1805
sections 5721.30 to ~~5721.41~~5721.43 of the Revised Code. The fund 1806
shall be administered by the county treasurer, and used solely for 1807
the purposes of sections 5721.30 to ~~5721.41~~5721.43 of the Revised 1808
Code. Any fee received by the treasurer under sections 5721.30 to 1809
~~5721.41~~5721.43 of the Revised Code shall be credited to the fund, 1810
except the bidder registration fee under division (B) of section 1811
5721.32 of the Revised Code and the county prosecuting attorney's 1812
fee under division (B)(3) of section 5721.37 of the Revised Code. 1813

       (F) The county treasurers of more than one county may jointly 1814
conduct a regional sale of tax certificates under section 5721.32 1815
of the Revised Code. A regional sale shall be held at a single 1816
location in one county, where the tax certificates from each of 1817
the participating counties shall be offered for sale at public 1818
auction. Before the regional sale, each county treasurer shall 1819
advertise the sale for the parcels in the treasurer's county as 1820
required by division (C) of this section. At the regional sale, 1821
tax certificates shall be sold on parcels from one county at a 1822
time, with all of the certificates for one county offered for sale 1823
before any certificates for the next county are offered for sale. 1824

       (G) The tax commissioner shall prescribe the form of the tax 1825
certificate under this section, and county treasurers shall use 1826
the form prescribed by the commissioner. 1827

       Sec. 5721.32. (A) The sale of tax certificates by public 1828
auction may be conducted at any time after completion of the 1829
advertising of the sale under section 5721.31 of the Revised Code, 1830
on the date and at the time and place designated in the 1831
advertisements, and may be continued from time to time as the 1832
county treasurer directs. The county treasurer may offer the tax 1833
certificates for sale in blocks of tax certificates, consisting of 1834
any number of tax certificates as determined by the county 1835
treasurer. 1836

       (B)(1) The sale of tax certificates under this section shall 1837
be conducted at a public auction by the county treasurer or a 1838
designee of the county treasurer. 1839

       (2) No person shall be permitted to bid without completing a 1840
bidder registration form, in the form prescribed by the tax 1841
commissioner, and filing the form with the county treasurer prior 1842
to the start of the auction, together with remittance of a 1843
registration fee, in cash, of five hundred dollars. The bidder 1844
registration form shall include a tax identification number of the 1845
registrant. The registration fee is refundable at the end of 1846
bidding on the day of the auction, unless the registrant is the 1847
winning bidder for one or more tax certificates or one or more 1848
blocks of tax certificates, in which case the fee may be applied 1849
toward the deposit required by this section. 1850

       (3) The county treasurer may require a person who wishes to 1851
bid on one or more parcels to submit a letter from a financial 1852
institution stating that the bidder has sufficient funds available 1853
to pay the purchase price of the parcels and a written 1854
authorization for the treasurer to verify such information with 1855
the financial institution. The county treasurer may require 1856
submission of the letter and authorization sufficiently in advance 1857
of the auction to allow for verification. No person who fails to 1858
submit the required letter and authorization, or whose financial 1859
institution fails to provide the requested verification, shall be 1860
permitted to bid. 1861

       (C) At the auction, the county treasurer or the treasurer's 1862
designee or agent shall begin the bidding at eighteen per cent per 1863
year simple interest, and accept lower bids in even increments of 1864
one-fourth of one per cent to the rate of zero per cent. The 1865
county treasurer, designee, or agent shall award the tax 1866
certificate to the person bidding the lowest certificate rate of 1867
interest. 1868

       (D) The winning bidder shall pay the county treasurer a cash 1869
deposit of at least ten per cent of the certificate purchase price 1870
not later than the close of business on the day of the sale. The 1871
winning bidder shall pay the balance and the fee required under 1872
division (H) of this section not later than five business days 1873
after the day on which the certificate is sold. If the winning 1874
bidder fails to pay the balance and fee within the prescribed 1875
time, the bidder forfeits the deposit, and the county treasurer 1876
shall retain the tax certificate and may attempt to sell it at any 1877
auction conducted at a later date. The county treasurer shall 1878
deposit the forfeited deposit in the county treasury to the credit 1879
of the tax certificate administration fund. 1880

       (E) Upon receipt of the full payment of the certificate 1881
purchase price from the purchaser, the county treasurer shall 1882
issue the tax certificate and record the tax certificate sale by 1883
marking on the tax certificate and into a tax certificate 1884
register, the certificate purchase price, the certificate rate of 1885
interest, the date the certificate was sold, and the name and 1886
address of the certificate holder, which may be, upon receipt of 1887
instructions from the purchaser, the secured party of the actual 1888
purchaser, or an agent or custodian for the purchaser or secured 1889
party. The county treasurer also shall transfer the tax 1890
certificate to the certificate holder and, upon presentation to 1891
the treasurer of instructions signed by the certificate purchaser, 1892
shall record in the tax certificate register the name and address 1893
of any secured party of the certificate purchaser having a 1894
security interest in the tax certificate. Upon the transfer of a 1895
tax certificate, the county treasurer shall apportion the part of 1896
the proceeds from the sale representing taxes, penalties, and 1897
interest among the several taxing districts in the same proportion 1898
that the amount of taxes levied by each district against the 1899
certificate parcel in the preceding tax year bears to the taxes 1900
levied by all such districts against the certificate parcel in the 1901
preceding tax year, and credit the part of the proceeds 1902
representing assessments and other charges to the items of 1903
assessments and charges in the order in which those items became 1904
due. Upon completion of the sale of a tax certificate, the 1905
delinquent taxes, assessments, penalties, and interest that make 1906
up the certificate purchase price are transferred, and the 1907
superior lien of the state and its taxing districts for those 1908
taxes, assessments, penalties, and interest is conveyed intact to 1909
the certificate holder. 1910

       (F) If a tax certificate is offered for sale under this 1911
section but is not sold, the county treasurer may strike the 1912
corresponding certificate parcel from the list of parcels selected 1913
for tax certificate sales. The lien for taxes, assessments, 1914
charges, penalties, and interest against a parcel stricken from 1915
the list thereafter may be foreclosed in the manner prescribed by 1916
section 323.25, 5721.14, or 5721.18 of the Revised Code unless, 1917
prior to the institution of such proceedings against the parcel, 1918
the county treasurer restores the parcel to the list of parcels 1919
selected for tax certificate sales. 1920

       (G) A certificate holder shall not be liable for damages 1921
arising from a violation of sections 3737.87 to 3737.891 or 1922
Chapter 3704., 3734., 3745., 3746., 3750., 3751., 3752., 6109., or 1923
6111. of the Revised Code, or a rule adopted or order, permit, 1924
license, variance, or plan approval issued under any of those 1925
chapters, that is or was committed by another person in connection 1926
with the parcel for which the tax certificate is held. 1927

       (H) When selling a tax certificate under this section, the 1928
county treasurer shall charge a fee to the purchaser of the 1929
certificate. The county treasurer shall set the fee at a 1930
reasonable amount that covers the treasurer's costs of 1931
administering the sale of the tax certificate. The county 1932
treasurer shall deposit the fee in the county treasury to the 1933
credit of the tax certificate administration fund. 1934

       (I) After selling a tax certificate under this section, the 1935
county treasurer shall send written notice by certified or 1936
registered mail to the owner of the certificate parcel at the 1937
owner's last known tax-mailing address. The notice shall inform 1938
the owner that the tax certificate was sold, shall describe the 1939
owner's options to redeem the parcel, including entering into a 1940
redemption payment plan under division (C)(1) of section 5721.38 1941
of the Revised Code, and shall name the certificate holder and its 1942
secured party, if any. 1943

       (J) A tax certificate shall not be sold to the owner of the 1944
certificate parcel. 1945

       Sec. 5721.33. (A) A county treasurer may, in the treasurer's 1946
discretion, negotiate the sale of any number of tax certificates 1947
with one or more persons, including, without limitation, any 1948
premium to be added to or discount to be subtracted from the 1949
certificate purchase price for the tax certificates and any other 1950
terms of the sale that the county treasurer, in the treasurer's 1951
discretion, determines appropriate or necessary for the sale. 1952

       (B) The sale of tax certificates under this section shall be 1953
governed by the criteria established by the county treasurer 1954
pursuant to division (E) of this section. 1955

       (C) The county treasurer may execute a tax certificate 1956
sale/purchase agreement and other necessary agreements with a 1957
designated purchaser or purchasers to complete a negotiated sale 1958
of tax certificates. 1959

       (D) The tax certificate may be sold at a premium to or 1960
discount from the certificate purchase price. The county treasurer 1961
may establish as one of the terms of the negotiated sale the 1962
portion of the certificate purchase price, plus any applicable 1963
premium or less any applicable discount, that the purchaser or 1964
purchasers shall pay in cash on the date the tax certificates are 1965
sold and the portion, if any, of the certificate purchase price, 1966
plus any applicable premium or less any applicable discount, that 1967
the purchaser or purchasers shall pay in noncash consideration and 1968
the nature of that consideration. 1969

       The county treasurer shall sell such tax certificates at a 1970
certificate purchase price, plus any applicable premium and less 1971
any applicable discount, and at a certificate rate of interest 1972
that, in the treasurer's determination, isare in the best 1973
interests of the county. 1974

       (E)(1) The county treasurer ~~may promulgate~~shall adopt rules 1975
governing the eligibility of persons to purchase tax certificates 1976
or to otherwise participate in a negotiated sale under this 1977
section. The rules may provide for precertification of such 1978
persons, including a requirement for disclosure of income, assets, 1979
and any other financial information the county treasurer 1980
determines appropriate. The rules ~~may~~ also may prohibit any person 1981
that is delinquent in the payment of any tax to the county or to 1982
the state, or that is in default in or on any other obligation to 1983
the county or to the state, from purchasing a tax certificate or 1984
otherwise participating in a negotiated sale of tax certificates 1985
under this section. The eligibility information required shall 1986
include the tax identification number of the purchaser and may 1987
include the tax identification number of the participant. The 1988
county treasurer, upon request, shall provide a copy of the rules 1989
adopted under this section. 1990

       (2) Any person that intends to purchase a tax certificate in 1991
a negotiated sale shall submit an affidavit to the county 1992
treasurer that establishes compliance with the applicable 1993
eligibility criteria and includes any other information required 1994
by the treasurer. Any person that fails to submit such an 1995
affidavit is ineligible to purchase a tax certificate. Any person 1996
that knowingly submits a false or misleading affidavit shall 1997
forfeit any tax certificate or certificates purchased by the 1998
person at a sale for which the affidavit was submitted, shall be 1999
liable for payment of the full certificate purchase price, plus 2000
any applicable premium and less any applicable discount, of the 2001
tax certificate or certificates, and shall be disqualified from 2002
participating in any tax certificate sale conducted in the county 2003
during the next five years. 2004

       (3) A tax certificate shall not be sold to the owner of the 2005
certificate parcel or to any corporation, partnership, or 2006
association in which such owner has an interest. No person that 2007
purchases a tax certificate in a negotiated sale shall assign or 2008
transfer the tax certificate to the owner of the certificate 2009
parcel or to any corporation, partnership, or association in which 2010
the owner has an interest. Any person that knowingly or 2011
negligently transfers or assigns ~~such~~ a tax certificate to the 2012
owner of the certificate parcel or to any corporation, 2013
partnership, or association in which such owner has an interest 2014
shall be liable for payment of the full certificate purchase 2015
price, plus any applicable premium and less any applicable 2016
discount, and shall not be entitled to a refund of any amount 2017
paid. Such tax certificate shall be deemed void and the tax lien 2018
sold under ~~such~~the tax certificate shall revert to the county as 2019
if no sale of ~~such~~the tax certificate had occurred. 2020

       (F) The purchaser in a negotiated sale under this section 2021
shall deliver the certificate purchase price, plus any applicable 2022
premium and less any applicable discount and including any noncash 2023
consideration, to the county treasurer not later than the close of 2024
business on the date the tax certificates are delivered to the 2025
purchaser. The certificate purchase price, plus any applicable 2026
premium and less any applicable discount, or portion of the price, 2027
that is paid in cash shall be deposited in the county's general 2028
fund to the credit of the account to which ad valorem real 2029
property taxes are credited and further credited as provided in 2030
division (G) of this section. The purchaser ~~shall~~ also shall pay 2031
on the date the tax certificates are delivered to the purchaser 2032
the fee, if any, negotiated under division (J) of this section. If 2033
the purchaser fails to pay the certificate purchase price, plus 2034
any applicable premium and less any applicable discount, and any 2035
such fee within the time periods required by this section, the 2036
county treasurer shall retain the tax certificate and may attempt 2037
to sell it at any auction or negotiated sale conducted at a later 2038
date. 2039

       (G) Upon receipt of the full payment of the certificate 2040
purchase price, plus any applicable premium and less any 2041
applicable discount, and the negotiated fee, if any, from the 2042
purchaser, the county treasurer, or a qualified trustee whom the 2043
treasurer has engaged for such purpose, shall issue the tax 2044
certificate and record the tax certificate sale by marking on each 2045
of the tax certificates sold or, if issued in book-entry form, on 2046
the global tax certificate, and marking into a tax certificate 2047
register, the certificate purchase price, any premium paid or 2048
discount taken, the certificate rate of interest, the date the 2049
certificates were sold, and the name and address of the 2050
certificate holder or, in the case of issuance of the tax 2051
certificates in a book-entry system, the name and address of the 2052
nominee, which may be, upon receipt of instructions from the 2053
purchaser, the secured party of the actual purchaser, or an agent 2054
or custodian for the purchaser or secured party. The county 2055
treasurer also shall transfer the tax certificates to the 2056
certificate holder and, upon presentation to the treasurer of 2057
instructions signed by the certificate purchaser or purchasers, 2058
shall record in the tax certificate register the name and address 2059
of any secured party of the certificate purchaser or purchasers 2060
having a security interest in the tax certificate. Upon the 2061
transfer of the tax certificates, the county treasurer shall 2062
apportion the part of the cash proceeds from the sale representing 2063
taxes, penalties, and interest among the several taxing districts 2064
in the same proportion that the amount of taxes levied by each 2065
district against the certificate parcels in the preceding tax year 2066
bears to the taxes levied by all such districts against the 2067
certificate parcels in the preceding tax year, and credit the part 2068
of the proceeds representing assessments and other charges to the 2069
items of assessments and charges in the order in which those items 2070
became due. If the cash proceeds from the sale are not sufficient 2071
to fully satisfy the items of outstanding delinquent taxes, 2072
assessments, penalties, interest, and charges on the certificate 2073
parcels against which tax certificates were sold, the county 2074
treasurer shall credit the cash proceeds to such items pro rata 2075
based upon the proportion that each ~~such~~ item of delinquent taxes, 2076
assessments, penalties, interest, and charges bears to the 2077
aggregate of all such items, or by any other method that the 2078
county treasurer, in the treasurer's sole discretion, determines 2079
is equitable. Upon completion of the sale of the tax certificates, 2080
the delinquent taxes, assessments, penalties, and interest that 2081
make up the certificate purchase price are transferred, and the 2082
superior lien of the state and its taxing districts for those 2083
taxes, assessments, penalties, and interest is conveyed intact to 2084
the certificate holder or holders. 2085

       (H) If a tax certificate is offered for sale under this 2086
section but is not sold, the county treasurer may strike the 2087
corresponding certificate parcel from the list of parcels selected 2088
for tax certificate sales. The lien for taxes, assessments, 2089
charges, penalties, and interest against a parcel stricken from 2090
the list thereafter may be foreclosed in the manner prescribed by 2091
section 323.25, 5721.14, or 5721.18 of the Revised Code unless, 2092
prior to the institution of such proceedings against the parcel, 2093
the county treasurer restores the parcel to the list of parcels 2094
selected for tax certificate sales. 2095

       (I) Neither a certificate holder nor its secured party, if 2096
any, shall be liable for damages arising from a violation of 2097
sections 3737.87 to 3737.891 or Chapter 3704., 3734., 3745., 2098
3746., 3750., 3751., 3752., 6109., or 6111. of the Revised Code, 2099
or a rule adopted or order, permit, license, variance, or plan 2100
approval issued under any of those chapters, that is or was 2101
committed by another person in connection with the parcel for 2102
which the tax certificate is held. 2103

       (J) When selling a tax certificate under this section, the 2104
county treasurer may negotiate with the purchaser of the 2105
certificate for a fee paid by the purchaser to the treasurer to 2106
reimburse the treasurer for any part or all of the treasurer's 2107
costs of preparing for and administering the sale of the tax 2108
certificate. Such fee, if any, shall be added to the certificate 2109
purchase price of the certificate and shall be paid by the 2110
purchaser on the date of delivery of the tax certificate. The 2111
county treasurer shall deposit the fee in the county treasury to 2112
the credit of the tax certificate administration fund. 2113

       (K) After selling tax certificates under this section, the 2114
county treasurer shall send written notice by certified or 2115
registered mail to the last known address of the owner of the 2116
certificate parcel. The notice shall inform the owner that a tax 2117
certificate with respect to such owner's parcel was sold and shall 2118
describe the owner's options to redeem the parcel, including 2119
entering into a redemption payment plan under division (C)(2) of 2120
section 5721.38 of the Revised Code. 2121

       Sec. 5721.34. (A) A county treasurer shall not sell any tax 2122
certificate respecting a parcel of delinquent land upon which the 2123
full amount of delinquent taxes, assessments, penalties, interest, 2124
charges, and costs then due and payable have been paid, or with 2125
respect to which a valid delinquent tax contract under section 2126
323.31 of the Revised Code to pay that amount has been entered 2127
into, prior to the sale of the certificate by the county 2128
treasurer. A certificate sold in violation of this section is 2129
void. 2130

       (B) If~~, within sixty days after the date of the sale of a tax~~ 2131
~~certificate,~~ the county treasurer discovers that the certificate 2132
is void under division (A) of this section, the holder of the void 2133
certificate is entitled to a refund of the certificate purchase 2134
price, plus any applicable premium and less any applicable 2135
discount, and the fee charged by the treasurer under division (H) 2136
of section 5721.32 or division (J) of section 5721.33 of the 2137
Revised Code, as applicable. If the county treasurer ~~discovers~~ 2138
~~after~~makes the discovery more than sixty days ~~from~~after the 2139
certificate's date of sale ~~that a tax certificate is void~~, the 2140
holder ~~of the void certificate~~also is entitled to ~~a refund equal~~ 2141
~~to the certificate purchase price, plus any applicable premium and~~ 2142
~~less any applicable discount, and the treasurer's fee, plus~~ 2143
interest on the certificate purchase price~~, plus any applicable~~ 2144
~~premium and less any applicable discount,~~ at the rate of five per 2145
cent per year. The ~~holder of a void certificate shall present the~~ 2146
~~certificate to the~~ county treasurer ~~to obtain~~shall notify the 2147
certificate holder that the certificate is void and shall issue 2148
the refund~~, and the~~. The county auditor shall issue a warrant for 2149
the ~~amount~~portion of the refund from the undivided tax fund, 2150
which portion consists of the certificate purchase price, plus any 2151
applicable premium and less any applicable discount; the portion 2152
of the refund consisting of interest and the treasurer's fee shall 2153
be paid from the tax certificate administrative fund. 2154

       (C) With respect to a tax certificate sold under section 2155
5721.32 of the Revised Code and found to be void under division 2156
(A) of this section, in addition to the remedies available under 2157
division (B) of this section, the county treasurer may, with the 2158
approval of the certificate holder, substitute for such tax 2159
certificate or portion thereof another tax certificate that has a 2160
value equivalent to the value of the tax certificate found to be 2161
void. Whenever a tax certificate of ~~such~~ equivalent value is to be 2162
substituted for a tax certificate that has been found to be void, 2163
the county treasurer shall provide written notice of the intention 2164
to substitute ~~such~~a tax certificate of equivalent value to any 2165
person required to be notified under division (I) of section 2166
5721.32 of the Revised Code. 2167

       (D) If an application for the exemption from and remission of 2168
taxes made under section 3735.67 or 5715.27 of the Revised Code, 2169
or under any other section of the Revised Code under the 2170
jurisdiction of the director of environmental protection, is 2171
granted for a parcel for which a tax certificate has been sold, 2172
the county treasurer shall refund to the certificate holder, in 2173
the manner provided in this section, the amount of any taxes 2174
exempted or remitted that were included in the certificate 2175
purchase price. If the whole amount of the taxes included in the 2176
certificate purchase price are exempted or remitted, the tax 2177
certificate is void. If all of the taxes that were included in the 2178
certificate purchase price are not exempted or remitted, the 2179
county treasurer shall adjust the tax certificate register to 2180
reflect the remaining amount of taxes that were not exempted or 2181
remitted, and notify the certificate holder of the adjustment in 2182
writing. 2183

       Sec. 5721.37. (A)(1) With respect to a tax certificate 2184
purchased under section 5721.32 of the Revised Code, or section 2185
5721.42 of the Revised Code in counties to which section 5721.32 2186
of the Revised Code applies, at any time after one year from the 2187
date shown on the tax certificate as the date the tax certificate 2188
was sold, and not later than three years after that date, the 2189
certificate holder may file with the county treasurer a request 2190
for foreclosure, or a private attorney on behalf of the 2191
certificate holder may file with the county treasurer a notice of 2192
intent to foreclose, on a form prescribed by the tax commissioner 2193
and provided by the county treasurer, provided the parcel has not 2194
yet been redeemed under division (A) or (C) of section 5721.38 of 2195
the Revised Code. 2196

       (2) With respect to a tax certificate purchased under section 2197
5721.33 of the Revised Code, or section 5721.42 of the Revised 2198
Code in counties to which section 5721.33 of the Revised Code 2199
applies, at any time after one year from the date shown on the tax 2200
certificate as the date the tax certificate was sold, and not 2201
later than six years after that date or any extension of that date 2202
pursuant to division (C)(2) of section 5721.38 of the Revised 2203
Code, a private attorney on behalf of the certificate holder may 2204
file with the county treasurer a notice of intent to foreclose on 2205
a form prescribed by the tax commissioner and provided by the 2206
county treasurer, provided the parcel has not yet been redeemed 2207
under division (A) or (C) of section 5721.38 of the Revised Code. 2208

       (3) If, before the expiration of three years from the date a 2209
tax certificate was sold, the owner of property for which the 2210
certificate was sold files a petition in bankruptcy, the county 2211
treasurer shall notify the certificate holder by ordinary 2212
first-class or certified mail of the filing of the petition, and 2213
the last day on which the certificate holder may file a request 2214
for foreclosure shall be the later of three years from the date 2215
the certificate was sold or one hundred eighty days after the 2216
bankruptcy case is closed. 2217

       (4) If, before the expiration of three years from the date a 2218
tax certificate was sold, the owner of property for which the 2219
certificate was sold applies for an exemption under section 2220
3735.67 or 5715.27 of the Revised Code or under any other section 2221
of the Revised Code under the jurisdiction of the director of 2222
environmental protection, the county treasurer shall notify the 2223
certificate holder by ordinary first-class or certified mail of 2224
the filing of the application. Once a determination has been made 2225
on the exemption application, the county treasurer shall notify 2226
the certificate holder of the determination by ordinary 2227
first-class or certified mail. The last day on which the 2228
certificate holder may file a request for foreclosure shall be the 2229
later of three years from the date the certificate was sold or 2230
forty-five days after notice of the determination was mailed. 2231

       (B) Along with a request filed under division (A)(1) of this 2232
section, or a notice of intent to foreclose filed under division 2233
(A)(2) of this section and prior to the transfer of title in 2234
connection with foreclosure proceedings filed under division (F) 2235
of this section, the certificate holder shall submit a payment to 2236
the county treasurer equal to the sum of the following: 2237

       (1) The certificate redemption prices of all outstanding tax 2238
certificates that have been sold on the parcel, other than tax 2239
certificates held by the person requesting foreclosure; 2240

       (2) Any delinquent taxes, assessments, penalties, interest, 2241
and charges that are charged against the certificate parcel that 2242
is the subject of the foreclosure proceedings and that are not 2243
covered by a tax certificate; 2244

       (3) If the foreclosure proceedings are filed by the county 2245
prosecuting attorney pursuant to section 323.25, 5721.14, or 2246
5721.18 of the Revised Code, a fee in the amount prescribed by the 2247
county prosecuting attorney to cover the prosecuting attorney's 2248
legal costs incurred in the foreclosure proceeding; 2249

       (4) If the foreclosure proceedings are filed by a private 2250
attorney on behalf of the certificate holder pursuant to division 2251
(F) of this section, any other prior liens. 2252

       (C)(1) With respect to a certificate purchased under section 2253
5721.32 or 5721.42 of the Revised Code, if the certificate parcel 2254
has not been redeemed, the county treasurer, within five days 2255
after receiving a foreclosure request, shall inform the county 2256
prosecuting attorney that the parcel has not been redeemed and 2257
shall provide a copy of the foreclosure request. The county 2258
treasurer also shall send notice by ordinary mail to all 2259
certificate holders other than the certificate holder requesting 2260
foreclosure that foreclosure has been requested by a certificate 2261
holder and that tax certificates for the certificate parcel may be 2262
redeemed. Within ninety days of receiving the copy of the 2263
foreclosure request, the prosecuting attorney shall commence a 2264
foreclosure proceeding in the name of the county treasurer in the 2265
manner provided under section 323.25, 5721.14, or 5721.18 of the 2266
Revised Code, to foreclose the lien vested in the certificate 2267
holder by the certificate. The prosecuting attorney shall attach 2268
to the complaint the county treasurer's certification that the 2269
parcel has not been redeemed. 2270

       (2) With respect to a certificate purchased under section 2271
5721.32, 5721.33, or 5721.42 of the Revised Code, if the 2272
certificate parcel has not been redeemed and a notice of intent to 2273
foreclose has been filed, the county treasurer shall provide 2274
certification to the private attorney that the parcel has not been 2275
redeemed. The county treasurer also shall send notice by ordinary 2276
mail to all certificate holders other than the certificate holder 2277
represented by the attorney that a notice of intent to foreclose 2278
has been filed and that tax certificates for the certificate 2279
parcel may be redeemed. After receipt of that certification, the 2280
private attorney may commence a foreclosure proceeding in the name 2281
of the certificate holder in the manner provided under division 2282
(F) of this section, to foreclose the lien vested in the 2283
certificate holder by the certificate. The private attorney shall 2284
attach to the complaint the county treasurer's certification that 2285
the parcel has not been redeemed. 2286

       (D) The county treasurer shall credit the amount received 2287
under division (B)(1) of this section to the tax certificate 2288
redemption fund. The tax certificates respecting the payment shall 2289
be redeemed as provided in division (E) of section 5721.38 of the 2290
Revised Code. The amount received under division (B)(2) of this 2291
section shall be distributed to the taxing districts to which the 2292
delinquencies are owed. The county treasurer shall deposit the fee 2293
received under division (B)(3) of this section in the county 2294
treasury to the credit of the delinquent tax and assessment 2295
collection fund. The amount received under division (B)(4) of this 2296
section shall be distributed to the holder of the prior lien. 2297

       (E)(1) If, in the case of a certificate purchased under 2298
section 5721.32 or 5721.42 of the Revised Code, the certificate 2299
holder does not file with the county treasurer a request for 2300
foreclosure or a notice of intent to foreclose along with the 2301
required payment within three years after the date shown on the 2302
tax certificate as the date the certificate was sold, and during 2303
that period the parcel is not redeemed or foreclosed upon, the 2304
certificate holder's lien against the parcel for the ~~amount of~~ 2305
~~delinquent taxes, assessments, penalties, interest, and charges~~ 2306
~~that make up the~~ certificate ~~purchase~~redemption price is 2307
canceled. 2308

       (2)(a) If, in the case of a certificate purchased under 2309
section 5721.33 of the Revised Code, the certificate holder does 2310
not file with the county treasurer a notice of intent to foreclose 2311
with respect to a certificate parcel within six years after the 2312
date shown on the tax certificate as the date the certificate was 2313
sold or any extension of that date pursuant to division (C)(2) of 2314
section 5721.38 of the Revised Code, and during that period the 2315
parcel is not redeemed, the certificate holder's lien against the 2316
parcel for the amount of delinquent taxes, assessments, penalties, 2317
interest, and charges that make up the certificate purchase price 2318
is canceled, subject to division (E)(2)(b) of this section. 2319

       (b) In the case of any tax certificate purchased under 2320
section 5721.33 of the Revised Code prior to ~~the effective date of~~ 2321
~~this amendment~~October10, 2000, the county treasurer, upon 2322
application by the certificate holder, may sell to the certificate 2323
holder a new certificate extending the three-year period 2324
prescribed by division (E)(2) of this section, as that division 2325
existed prior to ~~that effective date~~October10, 2000, to six 2326
years after the date shown on the original certificate as the date 2327
it was sold or any extension of that date. The county treasurer 2328
and the certificate holder shall negotiate the premium, in cash, 2329
to be paid for the new certificate sold under this section. If the 2330
county treasurer and certificate holder do not negotiate a 2331
mutually acceptable premium, the county treasurer and certificate 2332
holder may agree to engage a person experienced in the valuation 2333
of financial assets to appraise a fair premium for the new 2334
certificate. The certificate holder has the option to purchase the 2335
new certificate for the fair premium so appraised. Not less than 2336
one-half of the fee of the person so engaged shall be paid by the 2337
certificate holder requesting the new certificate; the remainder 2338
of the fee shall be paid from the proceeds of the sale of the new 2339
certificate. If the certificate holder does not purchase the new 2340
certificate for the premium so appraised, the certificate holder 2341
shall pay the entire fee. The county treasurer shall credit the 2342
remaining proceeds from the sale to the items of taxes, 2343
assessments, penalties, interest, and charges in the order in 2344
which they became due. 2345

       A certificate issued under this division vests in the 2346
certificate holder and its secured party, if any, the same rights, 2347
interests, privileges, and immunities as are vested by the 2348
original certificate under sections 5721.30 to ~~5721.41~~5721.43 of 2349
the Revised Code, except that interest payable under division (B) 2350
of section 5721.38 or division (B) of section 5721.39 of the 2351
Revised Code shall be subject to the amendments to those divisions 2352
by Sub. H.B. 533 of the 123rd general assembly. The certificate 2353
shall be issued in the same form as the form prescribed for the 2354
original certificate issued except for any modifications 2355
necessary, in the county treasurer's discretion, to reflect the 2356
extension under this division of the certificate holder's lien to 2357
six years after the date shown on the original certificate as the 2358
date it was sold or any extension of that date. The certificate 2359
holder may record a certificate issued under division (E)(2)(b) of 2360
this section or memorandum thereof as provided in division (B) of 2361
section 5721.35 of the Revised Code, and the county recorder shall 2362
index the certificate and record any subsequent cancellation of 2363
the lien as provided in that section. The sale of a certificate 2364
extending the lien under division (E)(2)(b) of this section does 2365
not impair the right of redemption of the owner of record of the 2366
certificate parcel or of any other person entitled to redeem the 2367
property. 2368

       (F) With respect to tax certificates purchased under section 2369
5721.32, 5721.33, or 5721.42 of the Revised Code, upon the 2370
delivery to the certificate holder by the county treasurer of the 2371
certification provided for under division (C)(2) of this section, 2372
a private attorney may institute a foreclosure proceeding under 2373
this division in the name of the certificate holder to foreclose 2374
such holder's lien, in any court with jurisdiction, unless the 2375
certificate redemption price is paid prior to the time a complaint 2376
is filed. The attorney shall prosecute the proceeding to final 2377
judgment and satisfaction, whether through sale of the property or 2378
the vesting of title and possession in the certificate holder. 2379

       The foreclosure proceedings under this division, except as 2380
otherwise provided in this division, shall be instituted and 2381
prosecuted in the same manner as is provided by law for the 2382
foreclosure of mortgages on land, except that, if service by 2383
publication is necessary, such publication shall be made once a 2384
week for three consecutive weeks and the service shall be complete 2385
at the expiration of three weeks after the date of the first 2386
publication. 2387

       Any notice given under this division shall include the name 2388
of the owner of the parcel as last set forth in the records of the 2389
county recorder, the owner's last known mailing address, the 2390
address of the subject parcel if different from that of the owner, 2391
and a complete legal description of the subject parcel. In any 2392
county that has adopted a permanent parcel number system, such 2393
notice may include the permanent parcel number in addition to a 2394
complete legal description. 2395

       It is sufficient, having been made a proper party to the 2396
foreclosure proceeding, for the certificate holder to allege in 2397
such holder's complaint that the tax certificate has been duly 2398
purchased by the certificate holder, that the certificate 2399
redemption price appearing to be due and unpaid is due and unpaid, 2400
and that there is a lien against the property described in the tax 2401
certificate, without setting forth in such holder's complaint any 2402
other special matter relating to the foreclosure proceeding. The 2403
prayer of the complaint shall be that the court issue an order 2404
that the property be sold by the sheriff or, if the action is in 2405
the municipal court, by the bailiff, in the manner provided in 2406
section 5721.19 of the Revised Code, unless the complaint includes 2407
an appraisal by an independent appraiser acceptable to the court 2408
that the value of the certificate parcel is less than the 2409
certificate purchase price. In that case, the prayer of the 2410
complaint shall be that fee simple title to the property be 2411
transferred to and vested in the certificate holder free and clear 2412
of all subordinate liens. 2413

       In the foreclosure proceeding, the certificate holder may 2414
join in one action any number of tax certificates relating to the 2415
same owner, provided that all parties on each of the tax 2416
certificates are identical as to name and priority of interest. 2417
However, the decree for each tax certificate shall be rendered 2418
separately and any proceeding may be severed, in the discretion of 2419
the court, for the purpose of trial or appeal. The court shall 2420
~~make such~~ order ~~for the~~ payment of all costs related directly or 2421
indirectly to the redemption of the tax certificate, including, 2422
without limitation, attorney's fees of the holder's attorney, as 2423
is considered proper. The tax certificate purchased by the 2424
certificate holder is presumptive evidence in all courts and in 2425
all proceedings, including, without limitation, at the trial of 2426
the foreclosure action, of the amount and validity of the taxes, 2427
assessments, charges, penalties by the court and added to such 2428
principal amount, and interest appearing due and unpaid and of 2429
their nonpayment. 2430

       (G) For the purposes of this section, "prior liens" means 2431
liens that are prior in right to the lien with respect to the tax 2432
certificate that is the subject of the foreclosure proceedings. 2433

       (H) If a parcel is sold under this section, the officer who 2434
conducted the sale shall collect the recording fee from the 2435
purchaser at the time of the sale and, following confirmation of 2436
the sale, shall prepare and record the deed conveying the title to 2437
the parcel to the purchaser. 2438

       Sec. 5721.38. (A) At any time prior to payment to the county 2439
treasurer by the certificate holder to initiate foreclosure 2440
proceedings under division (B) of section 5721.37 of the Revised 2441
Code, the owner of record of the certificate parcel, or any other 2442
person entitled to redeem that parcel, may redeem the parcel by 2443
paying to the county treasurer an amount equal to the total of the 2444
certificate redemption prices of all tax certificates respecting 2445
that parcel ~~plus the sum of taxes, assessments, penalties,~~ 2446
~~charges, and interest charged against the parcel that have become~~ 2447
~~due and payable since the date the last certificate was sold~~on 2448
which foreclosure may be based under division (A)(1) of section 2449
5721.37 of the Revised Code. 2450

       (B) At any time after payment to the county treasurer by the 2451
certificate holder to initiate foreclosure proceedings under 2452
section 5721.37 of the Revised Code and prior to the filing of the 2453
entry of confirmation of sale of a certificate parcel under 2454
foreclosure proceedings filed by the county prosecuting attorney 2455
or prior to the decree conveying title to the certificate holder 2456
as provided for in division (F) of section 5721.37 of the Revised 2457
Code, the owner of record of the certificate parcel or any other 2458
person entitled to redeem that parcel may redeem the parcel by 2459
paying to the county treasurer the sum of the following amounts: 2460

       (1) The amount described in division (A) of this section; 2461

       (2) Interest on the certificate purchase price for each tax 2462
certificate sold respecting the parcel at the rate of eighteen per 2463
cent per year for the period beginning on the day on which the 2464
payment was submitted by the certificate holder and ending on the 2465
day the parcel is redeemed under this division, except that such 2466
interest shall not accrue for more than three years after the day 2467
the certificate was purchased if the certificate holder did not 2468
submit payment under division (B) of section 5721.37 of the 2469
Revised Code before the end of that three-year period; 2470

       (3) An amount equal to the sum of the prosecuting attorney's 2471
fee under division ~~(C)(1)~~(B)(3) of section 5721.37 of the Revised 2472
Code if the tax certificate was purchased under section 5721.32 or 2473
5721.42 of the Revised Code;. If the parcel is redeemed before the 2474
complaint has been filed, the prosecuting attorney shall adjust 2475
the fee to reflect services performed to the date of redemption 2476
and the county treasurer shall refund any excess to the 2477
certificate holder. 2478

       (4) Any other costs and fees of the proceeding allocable to 2479
the certificate parcel as determined by the court. Upon receipt of 2480
such payments, the county treasurer shall refund the payment made 2481
by the certificate holder to initiate foreclosure proceedings. 2482

       (C)(1) During the period beginning on the date a tax 2483
certificate is sold under section 5721.32 of the Revised Code and 2484
ending one year from that date, the county treasurer may enter 2485
into a redemption payment plan with the owner of record of the 2486
certificate parcel or any other person entitled to redeem that 2487
parcel. The plan shall require the owner or other person to pay 2488
the certificate redemption price for the tax certificate in 2489
installments, with the final installment due no later than one 2490
year after the date the tax certificate is sold. The certificate 2491
holder may at any time, by written notice to the county treasurer, 2492
agree to accept installments collected to the date of notice as 2493
payment in full. Receipt of such notice by the treasurer shall 2494
constitute satisfaction of the payment plan and redemption of the 2495
tax certificate. 2496

       (2) During the period beginning on the date a tax certificate 2497
is sold under section 5721.33 of the Revised Code and ending on 2498
the date the decree is rendered on the foreclosure proceeding 2499
under division (F) of section 5721.37 of the Revised Code, the 2500
owner of record of the certificate parcel, or any other person 2501
entitled to redeem that parcel, may enter into a redemption 2502
payment plan with the certificate holder and all secured parties 2503
of the certificate holder. The plan shall require the owner or 2504
other person to pay the certificate redemption price for the tax 2505
certificate, an administrative fee not to exceed one hundred 2506
dollars per year, and the actual fees and costs incurred, in 2507
installments, with the final installment due no later than three 2508
years after the date the tax certificate is sold. The certificate 2509
holder shall give written notice of the plan to the applicable 2510
county treasurer within sixty days after entering into the plan 2511
and written notice of default under the plan within ninety days 2512
after the default. If such a plan is entered into, the time period 2513
for filing a notice of intent to foreclose under section 5721.37 2514
of the Revised Code is extended by the length of time the plan is 2515
in effect and not in default. 2516

       (D)(1) Immediately upon receipt of full payment under 2517
division (A) or (B) of this section, the county treasurer shall 2518
make an entry to that effect in the tax certificate register and 2519
notify each certificate holder by certified mail, return receipt 2520
requested, that the parcel has been redeemed and the lien canceled 2521
and that the tax certificates may be redeemed. The county 2522
treasurer shall deposit into the tax certificate redemption fund 2523
created in the county treasury an amount equal to the total of the 2524
certificate redemption prices, together with interest on the 2525
certificate purchase price for each tax certificate sold 2526
respecting the parcel at the rate of eighteen per cent per year 2527
paid under division (B) of this section for the period beginning 2528
when the payment was submitted by the certificate holder under 2529
division (B) of section 5721.37 of the Revised Code and ending 2530
when the parcel was redeemed. The county treasurer shall 2531
administer the fund for the purpose of redeeming tax certificates. 2532
Interest earned on the fund shall be credited to the county 2533
general fund. 2534

       (2) If a redemption payment plan is entered into pursuant to 2535
division (C)(1) of this section, the county treasurer immediately 2536
shall notify each certificate holder by certified mail, return 2537
receipt requested, of the terms of the plan. Installment payments 2538
made pursuant to the plan shall be deposited in the tax 2539
certificate redemption fund. Any overpayment of the installments 2540
shall be refunded to the person responsible for causing the 2541
overpayment if the person applies for a refund under this section. 2542
If the person responsible for causing the overpayment fails to 2543
apply for a refund under this section within five years from the 2544
date the plan is satisfied, an amount equal to the overpayment 2545
shall be deposited into the general fund of the county. 2546

       Upon satisfaction of the plan, the county treasurer shall 2547
indicate in the tax certificate register that the plan has been 2548
satisfied, and shall notify each certificate holder by certified 2549
mail, return receipt requested, that the plan has been satisfied 2550
and that tax certificates may be redeemed. 2551

       If a plan becomes void, the county treasurer immediately 2552
shall notify each certificate holder by certified mail, return 2553
receipt requested. If a certificate holder files a request for 2554
foreclosure under section 5721.37 of the Revised Code, upon the 2555
filing of the request for foreclosure, any money paid under the 2556
plan shall be refunded to the person that paid the money under the 2557
plan. 2558

       (E) To redeem a tax certificate with respect to which payment 2559
has been made in full under division (A), (B), or (C)(1) of this 2560
section or division (B)(1) of section 5721.37 of the Revised Code, 2561
the certificate holder shall present the tax certificate to the 2562
county treasurer, who shall prepare the redemption information. 2563
Upon presentation, the county auditor shall draw a warrant on the 2564
tax certificate redemption fund in the amount of the certificate 2565
redemption price and any applicable interest payable at the rate 2566
of eighteen per cent annually on the certificate under division 2567
(B) of this section. For a parcel that was redeemed under division 2568
(B) of this section, the certificate holder who paid the amounts 2569
under division (B) of section 5721.37 of the Revised Code shall be 2570
reimbursed for those amounts, together with interest at the rate 2571
of eighteen per cent per year on the amount paid under division 2572
(B)(1) of that section for the period beginning when the payment 2573
was submitted by the certificate holder under division (B) of that 2574
section and ending when the parcel was redeemed. The treasurer 2575
shall mark all copies of the tax certificate "redeemed" and return 2576
the certificate to the certificate holder. The canceled 2577
certificate shall serve as a receipt evidencing redemption of the 2578
tax certificate. If a certificate holder fails to redeem a tax 2579
certificate within five years after notice is served under 2580
division (D) of this section that tax certificates may be 2581
redeemed, an amount equal to the certificate redemption price and 2582
any applicable interest payable at the rate of eighteen per cent 2583
annually on the certificate under division (B) of this section 2584
shall be deposited into the general fund of the county. 2585

       Sec. 5721.41. Interest required under sections 5721.30 to 2586
~~5721.41~~5721.43 of the Revised Code is simple interest. Interest 2587
charges under those sections shall accrue on a monthly basis, on 2588
the first day of the month following the beginning of the period 2589
during which interest accrues and on the first day of each 2590
subsequent month. 2591

       Sec. 5721.43. (A) No person shall directly, through an agent, 2592
or otherwise initiate contact with the owner of a parcel with 2593
respect to which the person holds a tax certificate to encourage 2594
or demand payment before one year has elapsed following the 2595
purchase of the certificate. 2596

       (B) A county treasurer may bar any person who violates 2597
division (A) of this section from bidding at a tax certificate 2598
sale conducted by the treasurer. 2599

       (C)(1) The attorney general or county prosecuting attorney, 2600
upon written request of a county treasurer, shall bring an action 2601
for an injunction against any person who has violated, is 2602
violating, or is threatening to violate division (A) of this 2603
section. 2604

       (2) Any person who violates division (A) of this section 2605
shall be assessed a civil penalty of not more than five thousand 2606
dollars for each offense to be paid into the state treasury to the 2607
credit of the general revenue fund. Upon written request of a 2608
county treasurer, the attorney general or county prosecuting 2609
attorney shall commence an action against any such violator. Any 2610
action under this division is a civil action, governed by the 2611
Rules of Civil Procedure and other rules of practice and procedure 2612
applicable to civil actions. 2613

       Section 2. That existing sections 135.22, 135.341, 135.35, 2614
321.24, 321.46, 323.121, 323.31, 4503.06, 5713.20, 5721.10, 2615
5721.30, 5721.31, 5721.32, 5721.33, 5721.34, 5721.37, 5721.38, and 2616
5721.41 of the Revised Code are hereby repealed. 2617

       Section 3. The amendment or enactment by this act of sections 2618
135.22, 135.341, 321.46, and 321.47 of the Revised Code takes 2619
effect September 1, 2003. 2620

       Section 4. Sections 5721.37 and 5721.38 of the Revised Code 2621
are presented in this act as composites of the sections as amended 2622
by both Sub. H.B. 493 and Sub. H.B. 533 of the 123rd General 2623
Assembly. The General Assembly, applying the principle stated in 2624
division (B) of section 1.52 of the Revised Code that amendments 2625
are to be harmonized if reasonably capable of simultaneous 2626
operation, finds that the composites are the resulting versions of 2627
the sections in effect prior to the effective date of the sections 2628
as presented in this act. 2629

Section 1. That sections 135.22, 135.341, 135.35, 321.24,	21
321.46, 323.121, 323.31, 4503.06, 5713.20, 5721.10, 5721.30,	22
5721.31, 5721.32, 5721.33, 5721.34, 5721.37, 5721.38, and 5721.41	23
be amended and sections 321.47 and 5721.43 of the Revised Code be	24
enacted to read as follows:	25

(1) "Treasurer" has the same meaning as in section 135.01 of	27
the Revised Code, but does not include a county treasurer or the	28
treasurer of state. "Treasurer" includes any person whose duties	29
include making investment decisions with respect to the investment	30
or deposit of interim moneys.	31

(2) "Subdivision" has the same meaning as in section 135.01	32
of the Revised Code.	33

(B) To enhance the background and working knowledge of	34
treasurers in investments, cash management, and ethics, the	35
treasurer of state shall provide annual continuing education	36
programs for treasurers. A treasurer annually shall complete the	37
continuing education programs described in this section, unless	38
the treasurer annually provides a notice of exemption described in	39
division (E) of this section.	40

(C) The treasurer of state shall determine the manner,	41
content, and length of the continuing education programs after	42
consultation with appropriate statewide organizations of local	43
government officials.	44

(D) Upon successful completion of a continuing education	45
program required by this section, the treasurer of state shall	46
issue a certificate indicating that the treasurer has successfully	47
completed the continuing education program prescribed by the	48
treasurer of state. The treasurer of state shall forward to the	49
auditor of state any certificates issued pursuant to this division	50
by the treasurer of state. The auditor of state shall maintain in	51
the auditor's records any certificates forwarded by the treasurer	52
of state pursuant to this division. As part of the auditor of	53
state's audit of the subdivision conducted in accordance with	54
section 117.11 of the Revised Code, the auditor of state shall	55
report whether the treasurer is in compliance with this section of	56
the Revised Code.	57

(E) Division (B) of this section does not apply to any	58
treasurer who annually provides a notice of exemption to the	59
auditor of state. The notice shall be certified by the treasurer	60
of state and shall provide that the treasurer is not subject to	61
the continuing education requirements set forth in division (B) of	62
this section, because the treasurer invests or deposits public	63
moneys in the following investments only:	64

(1) Interim deposits pursuant to division (B)(3) of section	65
135.14 of the Revised Code;	66

(2) No-load money market mutual funds pursuant to division	67
(B)(5) of section 135.14 of the Revised Code;	68

(3) The Ohio subdivision's fund pursuant to division (B)(6)	69
of section 135.14 of the Revised Code.	70

(F) In carrying out the duties required by this section, the	71
treasurer of state may charge the subdivision served by the	72
treasurer a registration fee that will meet actual and necessary	73
expenses in connection with the training of the treasurer,	74
including instruction fees, site acquisition costs, and the cost	75
of course materials. Any necessary personal expenses of a	76
treasurer incurred as a result of attending the continuing	77
education courses shall be borne by the subdivision represented by	78
the treasurer.	79

(G) The treasurer of state may allow any other interested	80
person to attend any of the continuing education programs that are	81
held pursuant to this section, provided that before attending any	82
such continuing education program, the interested person has paid	83
to the treasurer of state the full registration fee set for the	84
continuing education program.	85

(H) All funds collected pursuant to this section shall be	86
paid into the county treasurer education fund created pursuant to	87
section 321.46 of the Revised Code, and the actual and necessary	88
expenses of the treasurer of state in conducting the continuing	89
education programs required by this section shall be paid from	90
this fund.	91

(I) The treasurer of state may adopt reasonable rules not	92
inconsistent with this section for the implementation of this	93
section.	94

Sec. 135.341. (A) There shall be a county investment	95
advisory committee consisting of three members: two county	96
commissioners to be designated by the board of county	97
commissioners, and the county treasurer.	98

Notwithstanding the preceding sentence, the board of county	99
commissioners may declare that all three county commissioners	100
shall serve on the county investment advisory committee. If the	101
board so declares, the county investment advisory committee shall	102
consist of five members: the three county commissioners, the	103
county treasurer, and the clerk of the court of common pleas of	104
the county.	105

(B) The committee shall elect its own chairperson, and	106
committee members shall receive no additional compensation for the	107
performance of their duties as committee members.	108

(C) The committee shall establish written county investment	109
policies and shall meet at least once every three months, to	110
review or revise its policies and to advise the investing	111
authority on the county investments in order to ensure the best	112
and safest return of funds available to the county for deposit or	113
investment. Any member of the county investment advisory	114
committee, upon giving five days' notice, may call a meeting of	115
the committee. The committee's policies may establish a limit on	116
the period of time that moneys may be invested in any particular	117
type of investment.	118

(D) The committee is authorized to retain the services of an	119
investment advisor, provided that the advisor is licensed by the	120
division of securities under section 1707.141 of the Revised Code	121
or is registered with the securities and exchange commission, and	122
possesses public funds investment management experience,	123
specifically in the area of state and local government investment	124
portfolios, or the advisor is an eligible institution mentioned in	125
section 135.03 of the Revised Code.	126

(E) The committee shall act as the investing authority in	127
place of the treasurer for purposes of investing county funds and	128
managing the county portfolio when ordered to do so by a court	129
pursuant to section 321.47 of the Revised Code. For these	130
purposes, the committee may retain the services of an investment	131
advisor described in division (D) of this section.	132

(F) Nothing in this section affects the authority of any of	133
the officers mentioned in section 325.27 of the Revised Code to	134
contract for the services of fiscal and management consultants	135
pursuant to section 325.17 of the Revised Code.	136

Sec. 135.35. (A) The investing authority shall deposit or	137
invest any part or all of the county's inactive moneys and shall	138
invest all of the money in the county library and local government	139
support fund when required by section 135.352 of the Revised Code.	140
The following classifications of securities and obligations are	141
eligible for such deposit or investment:	142

(1) United States treasury bills, notes, bonds, or any other	143
obligation or security issued by the United States treasury or any	144
other obligation guaranteed as to principal or interest by the	145
United States.	146

Nothing in the classification of eligible securities and	147
obligations set forth in division (A)(1) of this section or in the	148
classifications of eligible securities and obligations set forth	149
in divisions (A)(2) to ~~(8)~~(12) of this section shall be construed	150
to authorize any investment in stripped principal or interest	151
obligations of such eligible securities and obligations.	152

(2) ~~Bonds~~Subject to division (A)(9) of this section, bonds,	153
notes, debentures, or any other obligations or securities issued	154
by any federal government agency or instrumentality, including but	155
not limited to, the federal national mortgage association, federal	156
home loan bank, federal farm credit bank, federal home loan	157
mortgage corporation, government national mortgage association,	158
and student loan marketing association. All federal agency	159
securities shall be direct issuances of federal government	160
agencies or instrumentalities.	161

(3) Time certificates of deposit or savings or deposit	162
accounts, including, but not limited to, passbook accounts, in any	163
eligible institution mentioned in section 135.32 of the Revised	164
Code;	165

(4) Bonds and other obligations of this state or the	166
political subdivisions of this state, provided that such political	167
subdivisions are located wholly or partly within the same county	168
as the investing authority;	169

(5) No-load money market mutual funds consisting exclusively	170
of obligations described in division (A)(1) or (2) of this section	171
and repurchase agreements secured by such obligations, provided	172
that investments in securities described in this division are made	173
only through eligible institutions mentioned in section 135.32 of	174
the Revised Code;	175

(6) The Ohio subdivision's fund as provided in section 135.45	176
of the Revised Code;	177

(7) Securities lending agreements with any eligible	178
institution mentioned in section 135.32 of the Revised Code that	179
is a member of the federal reserve system or federal home loan	180
bank, under the terms of which agreements the investing authority	181
lends securities and the eligible institution agrees to	182
simultaneously exchange either securities described in division	183
(A)(1) or (2) of this section or cash or both securities and cash,	184
equal value for equal value;	185