| Section 1. That sections 135.143, 135.22, 135.341, 135.35, | 31 |
| 152.17, 154.01, 154.08, 175.09, 319.302, 321.24, 321.46, 323.121, | 32 |
| 323.31,
4503.06,
5713.20, 5719.051, 5721.10, 5721.30, 5721.31, | 33 |
| 5721.32, 5721.33,
5721.34,
5721.37, 5721.38, 5721.39, 5721.40, and | 34 |
| 5721.41 be amended and sections 321.47, 5721.021, and
5721.43 of | 35 |
|
the Revised Code be enacted to read as follows: | 36 |
| (4)(a) Written repurchase agreements with any eligible
Ohio | 51 |
|
financial institution that is a member of the federal
reserve | 52 |
|
system or federal home loan bank or any recognized United
States | 53 |
|
government securities dealer, under the terms of which
agreement | 54 |
|
the treasurer of state purchases and the eligible
financial | 55 |
|
institution or dealer agrees unconditionally to
repurchase any of | 56 |
|
the securities that are listed in division
(A)(1), (2), or (6)
of | 57 |
|
this section and that will mature or are
redeemable within ten | 58 |
|
years from the date of purchase. The
market value of securities | 59 |
|
subject to these transactions must
exceed the principal value of | 60 |
|
the repurchase agreement by an
amount specified by the treasurer | 61 |
|
of state, and the securities
must be delivered into the custody of | 62 |
|
the treasurer of state or
the qualified trustee or agent | 63 |
|
designated by the treasurer of
state. The agreement shall contain | 64 |
|
the requirement that for each
transaction pursuant to the | 65 |
|
agreement, the participating
institution or dealer shall provide | 66 |
|
all of the following
information: | 67 |
| (10) Debt interests, other than commercial paper described
in | 114 |
| division (A)(6) of this section, rated
at the
time of purchase
in | 115 |
| the three highest categories by
two
nationally
recognized
rating
| 116 |
|
agencies and issued by
corporations that are
incorporated
under | 117 |
| the laws of the United
States or a state, or
issued by
foreign | 118 |
| nations diplomatically
recognized by the United
States
government, | 119 |
| or any instrument
based on, derived from, or
related
to such | 120 |
| interests. All
interest and principal shall be
denominated and | 121 |
| payable in United
States funds. The investments
made under | 122 |
| division (A)(10) of this
section shall not exceed in
the aggregate
| 123 |
|
twenty-five per
cent of the state's total average
portfolio, as | 124 |
| determined and
calculated by the treasurer of
state.
The | 125 |
| investments made under
division (A)(10) of this
section in
debt | 126 |
| interests issued by
foreign nations shall not
exceed in the | 127 |
|
aggregate one per cent of
the state's total average
portfolio, as | 128 |
|
determined and calculated
by the treasurer of state.
The | 129 |
|
investments made under division
(A)(10) of this
section in the | 130 |
|
debt interests of a single issuer
shall not exceed
in the | 131 |
|
aggregate one-half of one per cent of the
state's total
average | 132 |
|
portfolio, as determined and calculated by
the treasurer of state. | 133 |
| (B) Whenever, during a period of designation, the
treasurer | 148 |
|
of state classifies public moneys as interim moneys, the treasurer | 149 |
|
of state shall notify the state board of deposit of such action.
| 150 |
|
The
notification shall be given within thirty days after such | 151 |
|
classification and, in the event the state board of deposit does | 152 |
|
not concur in such classification or in the investments or | 153 |
|
deposits made under this section, the board may order the | 154 |
|
treasurer of state to sell or liquidate any of
the
investments
or | 155 |
|
deposits, and any such order shall specifically
describe the | 156 |
|
investments or deposits and fix the date upon which
they are to
be | 157 |
|
sold or liquidated. Investments or deposits so
ordered to be
sold | 158 |
|
or liquidated shall be sold or liquidated for
cash by the | 159 |
|
treasurer of state on the date fixed in such order at
the then | 160 |
|
current market price. Neither the treasurer of state nor
the | 161 |
|
members of the state board of deposit shall be held
accountable | 162 |
|
for any loss occasioned by sales or liquidations of
investments
or | 163 |
|
deposits at prices lower than their cost. Any loss
or expense | 164 |
|
incurred in making
these sales or liquidations is
payable as
other | 165 |
|
expenses of the treasurer's office. | 166 |
| (D) Upon successful completion of a continuing education | 236 |
| program required by
this section, the treasurer of state shall | 237 |
| issue a certificate indicating that
the treasurer has successfully | 238 |
| completed the continuing education program
prescribed by the | 239 |
| treasurer of state. The treasurer of state shall forward to
the | 240 |
| auditor of state any certificates issued pursuant to this division | 241 |
| by the
treasurer of state. The auditor of state shall maintain in | 242 |
| the auditor's
records any certificates forwarded by the treasurer | 243 |
| of state pursuant to this
division. As part of the auditor of | 244 |
| state's audit of the subdivision
conducted in accordance with | 245 |
| section 117.11 of the Revised Code, the auditor
of state shall | 246 |
| report whether the treasurer is in compliance with this section
of | 247 |
| the Revised Code. | 248 |
| The investing authority shall invest under division (A)(11) | 441 |
|
of this section in a debt interest issued by a foreign nation only | 442 |
|
if the debt interest is backed by the full faith and credit of | 443 |
|
that foreign nation, there is no prior history of default, and the | 444 |
|
debt interest matures not later than five years after purchase. | 445 |
| For purposes of division (A)(11) of this section, a debt interest | 446 |
| is rated in the three highest categories by two nationally | 447 |
| recognized standard rating services if either the debt interest | 448 |
| itself or the issuer of the debt interest is rated, or is | 449 |
| implicitly rated, at the time of purchase in the three highest | 450 |
| categories by two nationally recognized standard rating services. | 451 |
| (B) Nothing in the classifications of eligible obligations | 452 |
and securities
set forth in divisions (A)(1) to (8)(11) of this | 453 |
| section shall
be
construed to authorize investment in a | 454 |
| derivative, and no investing
authority shall invest any county | 455 |
| inactive moneys or any moneys in
a county library and local | 456 |
| government support fund in a derivative. For
purposes of this | 457 |
| division, "derivative" means a financial instrument or
contract or | 458 |
| obligation whose value or return is based upon or linked to | 459 |
|
another asset or index, or both, separate from the financial | 460 |
| instrument,
contract, or obligation itself. Any security, | 461 |
| obligation, trust account, or
other instrument that is created | 462 |
| from an issue of the United
States treasury or is created from an | 463 |
| obligation of a federal agency
or instrumentality or is created | 464 |
| from both is considered a derivative
instrument. An eligible | 465 |
| investment described in this section with a variable
interest rate | 466 |
| payment, based upon a single interest payment or single index | 467 |
|
comprised of other eligible investments provided for in division | 468 |
|
(A)(1) or (2) of this section, is not a derivative, provided that | 469 |
|
such variable rate investment has a maximum maturity of two years. | 470 |
| A treasury inflation-protected security shall not be considered a | 471 |
|
derivative, provided the security matures not later than five | 472 |
|
years after purchase. | 473 |
| (D) The investing authority may also enter into a written | 482 |
|
repurchase agreement with any eligible institution
mentioned in | 483 |
| section 135.32 of the Revised Code or any eligible securities | 484 |
|
dealer pursuant to division (J) of this section, under the terms | 485 |
| of which
agreement the investing authority purchases and the | 486 |
| eligible
institution or dealer agrees
unconditionally to | 487 |
| repurchase any of the securities listed in
divisions (B)(1) to | 488 |
| (5), except
letters of credit described in division (B)(2), of | 489 |
|
section 135.18 of the Revised Code. The
market value of
securities | 490 |
| subject to an overnight written repurchase agreement must
exceed | 491 |
| the
principal value of the overnight written repurchase agreement | 492 |
| by at
least two per
cent. A written repurchase agreement must | 493 |
| exceed the
principal value of the
overnight written repurchase | 494 |
| agreement, by at least two per cent. A
written repurchase | 495 |
|
agreement shall not exceed thirty days, and the market
value of | 496 |
| securities subject to a written repurchase
agreement must exceed | 497 |
| the
principal value of the written repurchase agreement by at | 498 |
|
least two per cent and
be marked to market daily. All securities | 499 |
| purchased pursuant to this division
shall be delivered into the | 500 |
|
custody of the investing authority or the qualified custodian of | 501 |
| the investing
authority or an agent designated by the investing | 502 |
| authority. A written
repurchase
agreement with an eligible | 503 |
| securities dealer shall be transacted on a delivery
versus payment | 504 |
| basis. The agreement
shall contain the requirement that for each | 505 |
| transaction pursuant
to the agreement the participating | 506 |
| institution shall provide all
of the following information: | 507 |
| (I) The investing authority shall be responsible for the | 553 |
|
safekeeping of all documents evidencing a deposit or investment | 554 |
|
acquired under this section, including, but not limited to, | 555 |
|
safekeeping receipts evidencing securities deposited with a | 556 |
|
qualified trustee, as provided in section 135.37 of the Revised | 557 |
|
Code, and documents confirming the purchase of securities under | 558 |
|
any repurchase agreement under this section shall be deposited | 559 |
|
with a qualified trustee, provided, however, that the qualified | 560 |
|
trustee shall be required to report to the investing authority, | 561 |
|
auditor of state, or an authorized outside auditor at any time | 562 |
|
upon request as to the identity, market value, and location of
the | 563 |
| document evidencing each security, and that if the
participating | 564 |
| institution is a designated depository of the
county for the | 565 |
| current period of designation, the securities that
are the subject | 566 |
| of the repurchase agreement may be delivered to
the treasurer or | 567 |
| held in trust by the participating institution
on behalf of the | 568 |
| investing authority. | 569 |
| (K)(1) Except as otherwise provided in division (K)(2) of | 594 |
|
this section, no investing authority shall make an investment or | 595 |
| deposit under
this section, unless there is on file with the | 596 |
| auditor of state a written
investment policy approved by the | 597 |
| investing authority. The policy shall
require that all entities | 598 |
| conducting investment business with the
investing authority shall | 599 |
| sign the investment policy of that investing authority. All | 600 |
|
brokers, dealers, and financial institutions, described in | 601 |
| division (J)(1) of
this section,
initiating transactions with the | 602 |
| investing authority by giving advice or
making investment | 603 |
| recommendations shall sign the investing authority's
investment | 604 |
| policy thereby acknowledging their agreement to abide by the | 605 |
|
policy's contents. All brokers, dealers, and financial | 606 |
| institutions,
described in division (J)(1) of this section, | 607 |
| executing transactions initiated
by the investing authority, | 608 |
| having read the policy's contents, shall sign the
investment | 609 |
| policy thereby acknowledging their comprehension and receipt. | 610 |
| (M) An investing authority may enter into a
written | 642 |
| investment or deposit agreement that includes a
provision under | 643 |
| which the parties agree to submit to
nonbinding arbitration to | 644 |
| settle any controversy that may arise
out of the agreement, | 645 |
| including any controversy pertaining to
losses of public moneys | 646 |
| resulting from investment or deposit.
The arbitration provision | 647 |
| shall
be set forth entirely in the agreement, and the agreement | 648 |
| shall
include a conspicuous notice to the
parties that any party | 649 |
| to the arbitration may apply to the court of common
pleas of the | 650 |
| county in which the arbitration was held for an order to vacate, | 651 |
|
modify, or correct the award. Any such party may also apply to the | 652 |
| court for
an order to change venue to a court of common pleas | 653 |
| located more than one
hundred miles from the county in which the | 654 |
| investing authority is located. | 655 |
| Sec. 152.17. Obligations issued under Chapter 152. of the | 670 |
| Revised Code are
lawful investments for banks, insurance | 671 |
| companies, including domestic for life
and domestic not for life, | 672 |
| savings and loan associations, deposit guaranty
companies, trust | 673 |
| companies, fiduciaries, trustees, sinking funds or bond
retirement | 674 |
| funds of municipal corporations, school districts, and counties, | 675 |
the commissionerstreasurer of the sinking fundstate, the | 676 |
| administrator of workers'
compensation, the
state teachers | 677 |
| retirement system, the public employees retirement system, the | 678 |
|
school employees retirement system, and also are acceptable as | 679 |
| security for
the deposit of public moneys. | 680 |
| (E) "Governmental agency" means state agencies, state | 697 |
|
supported and assisted institutions of higher education,
municipal | 698 |
| corporations, counties, townships, school districts,
and any other | 699 |
| political subdivision or special district in this
state | 700 |
| established pursuant to law, and, except where otherwise | 701 |
|
indicated, also means the United States or any department, | 702 |
|
division, or agency thereof, and any agency, commission, or | 703 |
|
authority established pursuant to an interstate compact or | 704 |
|
agreement. | 705 |
| (F) "Institutions of higher education" and "state
supported | 706 |
| or state assisted institutions of higher education"
means the | 707 |
| state universities identified in section 3345.011 of
the Revised | 708 |
| Code, the medical college of Ohio at Toledo, the
northeastern Ohio | 709 |
| universities college of medicine, state
universities or colleges | 710 |
| at any time created, community college
districts, university | 711 |
| branch districts, and technical college
districts at any time | 712 |
| established or operating under Chapter
3354., 3355., or 3357. of | 713 |
| the Revised Code, and other institutions for
education, including | 714 |
| technical
education, beyond the high school, receiving state | 715 |
| support or
assistance for their expenses of operation. | 716 |
| (J) "Capital facilities" means buildings, structures, and | 741 |
|
other improvements, and equipment, real estate, and interests in | 742 |
|
real estate therefor, within the state, and any one, part of, or | 743 |
|
combination of the foregoing, to serve the general purposes for | 744 |
|
which the issuing authority is authorized to issue
obligations | 745 |
| pursuant
to Chapter 154. of the Revised Code, including, but not | 746 |
| limited
to, drives, roadways, parking facilities, walks, lighting, | 747 |
|
machinery, furnishings, utilities, landscaping, wharves, docks, | 748 |
|
piers, reservoirs, dams, tunnels, bridges, retaining walls, | 749 |
|
riprap, culverts, ditches, channels, watercourses, retention | 750 |
|
basins, standpipes and water storage facilities, waste treatment | 751 |
|
and disposal facilities, heating, air conditioning and | 752 |
|
communications facilities, inns, lodges, cabins, camping sites, | 753 |
|
golf courses, boat and bathing facilities, athletic and | 754 |
|
recreational facilities, and site improvements. | 755 |
| (K) "Costs of capital facilities" means the costs of | 756 |
|
acquiring, constructing, reconstructing, rehabilitating, | 757 |
|
remodeling, renovating, enlarging, improving, equipping, or | 758 |
|
furnishing capital facilities, and the financing thereof, | 759 |
|
including the cost of clearance and preparation of the site and
of | 760 |
| any land to be used in connection with capital facilities, the | 761 |
|
cost of any indemnity and surety bonds and premiums on insurance, | 762 |
|
all related direct administrative expenses and allocable portions | 763 |
|
of direct costs of the commission or issuing authority and | 764 |
|
department of administrative services, or other designees of the | 765 |
|
commission under section 154.17 of the Revised Code, cost of | 766 |
| engineering and
architectural services, designs, plans, | 767 |
| specifications, surveys,
and estimates of cost, legal fees, fees | 768 |
| and expenses of trustees,
depositories, and paying agents for the | 769 |
| obligations, cost of
issuance of the obligations and financing | 770 |
| charges and fees and
expenses of financial advisers and | 771 |
| consultants in connection
therewith, interest on obligations from | 772 |
| the date thereof to the
time when interest is to be covered from | 773 |
| sources other than
proceeds of obligations, amounts necessary to | 774 |
| establish reserves
as required by the bond proceedings, costs of | 775 |
| audits, the
reimbursement of all moneys advanced or applied by or | 776 |
| borrowed
from any governmental agency, whether to or by the | 777 |
| commission
or others, from whatever source provided, for the | 778 |
| payment of any
item or items of cost of the capital facilities, | 779 |
| any share of the
cost undertaken by the commission pursuant to | 780 |
| arrangements made
with governmental agencies under division (H) of | 781 |
| section 154.06
of the Revised Code, and all other expenses | 782 |
| necessary or incident
to planning or determining feasibility or | 783 |
| practicability with
respect to capital facilities, and such other | 784 |
| expenses as may be
necessary or incident to the acquisition, | 785 |
| construction,
reconstruction, rehabilitation, remodeling, | 786 |
| renovation,
enlargement, improvement, equipment, and furnishing of | 787 |
| capital
facilities, the financing thereof and the placing of the | 788 |
| same in
use and operation, including any one, part of, or | 789 |
| combination of
such classes of costs and expenses. | 790 |
| Sec. 154.08. (A) Obligations issued under this chapter shall | 843 |
|
be authorized by order or resolution of the
issuing authority, and | 844 |
| the bond proceedings shall
provide for
the purpose thereof, the | 845 |
| principal amount, the permitted discount, if
any, the principal | 846 |
| maturity or maturities, not exceeding forty
years from the date of | 847 |
| issuance, the interest rate or rates,
which may be a variable rate | 848 |
| or rates, or the maximum interest
rate, the date of the | 849 |
| obligations and the dates of payment of
interest thereon, their | 850 |
| denomination, the manner of sale for
purposes of division (D) of | 851 |
| this section, and the establishment
within or without the state of | 852 |
| a place or places of payment of
principal of and interest on | 853 |
| obligations. The purpose of
obligations may be stated in the bond | 854 |
| proceedings in terms
describing the general purpose to be served | 855 |
| by the capital
facilities to be financed by such obligations. The | 856 |
| bond
proceedings shall also provide, subject to the provisions of | 857 |
| any
other applicable bond proceedings, for the pledge of all, or | 858 |
| such
part as the issuing authority may determine, of the | 859 |
|
applicable revenues or receipts which may be pledged to the | 860 |
| payment of bond
service charges on obligations issued for such | 861 |
| purpose as authorized by
Chapter 154. of the Revised Code, and a | 862 |
| pledge of the applicable
bond service fund and other special funds | 863 |
| to the payment of the
bond service charges on such obligations, | 864 |
| which pledges may be
made either prior or subordinate to other | 865 |
| expenses, claims, or
payments, and may be made to secure the | 866 |
| obligations on a parity
with obligations theretofore or thereafter | 867 |
| issued by the
authority, if and to the extent provided in the bond | 868 |
|
proceedings. The revenues, receipts, bond service fund, and
other | 869 |
| special funds so pledged and thereafter received by the
issuing | 870 |
| authority are immediately subject to the lien
of such pledge | 871 |
| without any physical delivery thereof or further act, and the
lien | 872 |
| of any such pledge is valid and binding against all parties
having | 873 |
| claims of any kind against the authority,
irrespective of
whether | 874 |
| such parties have notice thereof, and shall create a
perfected | 875 |
| security interest for all purposes of Chapter 1309. of
the Revised | 876 |
| Code, without the necessity for separation or
delivery of funds or | 877 |
| for the filing or recording of the bond
proceedings by which such | 878 |
| pledge is created or any certificate,
statement, or other document | 879 |
| with respect thereto; and the pledge
of such revenues, receipts, | 880 |
| bond service funds, and the special
funds is effective and the | 881 |
| money therefrom and thereof may be
applied to the purposes for | 882 |
| which pledged without necessity for
any act of appropriation. | 883 |
| Every pledge, and every covenant and
agreement made with respect | 884 |
| thereto, made in the bond proceedings
may therein be extended to | 885 |
| the benefit of the owners and holders
of obligations authorized by | 886 |
| Chapter 154. of the Revised Code,
and to any trustee therefor, for | 887 |
| the further securing of the
payment of the bond service charges | 888 |
| and all or any rights under
any agreement or lease made under this | 889 |
| section may be assigned
for such purpose. | 890 |
| (C) The obligations may have the great seal of the
state or
a | 941 |
| facsimile thereof affixed thereto or printed thereon and shall
be | 942 |
| executed by the treasurer of state or such
other executive | 943 |
| officers of the
state as are
designated in the bond proceedings, | 944 |
| provided that, consistent with
section 9.96 of the Revised Code, | 945 |
| all but one of
such signatures on obligations, whenever issued, | 946 |
| may be facsimile
signatures. Any coupons
pertaining to obligations | 947 |
| shall bear the facsimile signature of
the individual officer
or | 948 |
| officers as is designated in the
bond proceedings. Any obligations | 949 |
| or coupons may be executed by
an individual who, on the date of | 950 |
| execution,
is the proper officer although on the date of such | 951 |
| bonds or coupons
such person was not the proper officer. In case | 952 |
| any
officer whose signature or a facsimile of whose
signature | 953 |
| appears on any such obligation or coupon ceases to be such officer | 954 |
|
before delivery thereof, such signature or
facsimile is | 955 |
| nevertheless valid and sufficient for all purposes
as if the | 956 |
| officer had remained such officer until such
delivery; and in case | 957 |
| the great seal of the state has been
changed after a facsimile of | 958 |
| the seal has been imprinted on such
obligations, such facsimile | 959 |
| seal shall continue to be sufficient
as to such obligations and | 960 |
| obligations issued in substitution or
exchange therefor. | 961 |
| All obligations are
negotiable
instruments and securities | 962 |
| under Chapter 1308. of the Revised
Code, subject to the provisions | 963 |
| of the bond proceedings as to
registration. The obligations may be | 964 |
| issued in coupon or in
registered form, or both, as the issuing | 965 |
| authority determines. Provision may
be made for the registration | 966 |
| of any obligations
with coupons attached thereto as to principal | 967 |
| alone or as to both
principal and interest, their exchange for | 968 |
| obligations so
registered, and for the conversion or reconversion | 969 |
| into
obligations with coupons attached thereto of any obligations | 970 |
|
registered as to both principal and interest, and for reasonable | 971 |
|
charges for such registration, exchange, conversion, and | 972 |
|
reconversion. | 973 |
| (D) Obligations may be sold at
public sale or at private | 974 |
| sale, in such manner, and at such price, as
determined by and | 975 |
| provided by the issuing authority in the bond
proceedings. Notice | 976 |
| of sale of
obligations to be sold at public sale shall be | 977 |
| published once, before the date
of sale, in one or more financial | 978 |
| journals or via appropriate electronic
media. Each published | 979 |
| notice shall state or provide for, or provide
for the manner of | 980 |
|
determining: the day, hour, and place of the
sale and manner and | 981 |
| method of bidding; the total principal amount, the
permitted | 982 |
| discount, if any,
and date of the obligations to be sold; and the | 983 |
| dates of payment
of principal and interest; whether or not they | 984 |
| are or may be callable;
and information relative to the | 985 |
| denominations, and amounts of
principal maturities, together with | 986 |
| such other information as the
issuing authority may determine or | 987 |
| authorize,
including without
limitation thereto, the method, | 988 |
| including that of discounting
present value, of determining the | 989 |
| lowest interest cost or lowest
combination of interest rates, | 990 |
| limitations on interest rates, and
any other conditions and terms | 991 |
| of the sale or bidding. The
issuing authority
may reject all bids | 992 |
| and readvertise and reoffer obligations for sale. | 993 |
| Sec. 175.09. (A) All bonds issued under this chapter are | 1014 |
|
lawful investments of banks, societies for savings, savings and | 1015 |
|
loan associations, deposit guarantee associations, trust | 1016 |
|
companies, trustees, fiduciaries, insurance companies, including | 1017 |
|
domestic for life and domestic not for life, trustees or other | 1018 |
|
officers having charge of sinking and bond retirement or other | 1019 |
|
special funds of political subdivisions and taxing districts of | 1020 |
this state, the commissionerstreasurer of the sinking fund of the | 1021 |
| state,
the administrator of workers' compensation, the state | 1022 |
| teachers
retirement system, the public employees retirement | 1023 |
| system, the
school employees retirement system, and the Ohio | 1024 |
| police and
fire pension fund, notwithstanding any
other provision | 1025 |
|
of the Revised Code or rules adopted pursuant thereto by any | 1026 |
|
governmental agency of the state with respect to investments by | 1027 |
|
them, and are acceptable as security for the deposit of public | 1028 |
|
moneys. | 1029 |
| (B) The exercise of the powers granted by this chapter
will | 1030 |
| be in all respects for the benefit of the people of the
state, for | 1031 |
| the improvement of their health, safety, convenience,
and economic | 1032 |
| welfare, and for the enhancement of the
opportunities for safe and | 1033 |
| sanitary housing and is a public
purpose. The programs undertaken | 1034 |
| by the Ohio housing finance
agency constitute the performance of | 1035 |
| essential public functions,
and the bonds issued under this | 1036 |
| chapter, their transfer, and the
income therefrom, including any | 1037 |
| profit made on the sale thereof,
is at all times free from | 1038 |
| taxation within the state. | 1039 |
| Sec. 319.302. After complying with section 319.301 of the | 1040 |
|
Revised Code, the
county auditor shall reduce the remaining sums | 1041 |
|
to be levied against each parcel of real property listed on the | 1042 |
|
general tax list and duplicate of real and public utility
property | 1043 |
| for the current tax year, and against each manufactured
and mobile | 1044 |
| home that is
taxed pursuant to division (D)(2) of section
4503.06 | 1045 |
| of the Revised Code and that is on the
manufactured home tax list | 1046 |
| for the current tax year, by ten per
cent. Except as otherwise | 1047 |
| provided in sections 323.152, 323.158, 505.06,
and 715.263 of the | 1048 |
| Revised Code, the
amount of the taxes remaining after such | 1049 |
| reduction shall be the
real and public utility property taxes | 1050 |
| charged and payable, and the
manufactured home tax charged and | 1051 |
| payable, on
each property and shall be the amounts certified to | 1052 |
| the county
treasurer for collection. Upon receipt of the tax | 1053 |
| duplicate, the
treasurer shall certify to the tax commissioner the | 1054 |
total amount
by which such taxes were reduced under this section, | 1055 |
| as shown on
the duplicate. Such reduction shall not directly or | 1056 |
| indirectly
affect the determination of the principal amount of | 1057 |
| notes that
may be issued in anticipation of any tax levies or the | 1058 |
| amount of
bonds or notes for any planned improvements. If after | 1059 |
|
application of sections 5705.31 and 5705.32 of the Revised Code | 1060 |
and other applicable provisions of law, including division | 1061 |
| divisions (F) and (I) of
section 321.24 of the Revised Code, there | 1062 |
| would be insufficient
funds for payment of debt charges on bonds | 1063 |
| or notes payable from
taxes reduced by this section, the reduction | 1064 |
| of taxes provided
for in this section shall be adjusted to the | 1065 |
| extent necessary to
provide funds from such taxes. | 1066 |
| (F) Within thirty days after the day of each settlement of | 1098 |
|
taxes required under divisions (A) and (C) of this section, the | 1099 |
|
treasurer shall certify to the tax commissioner any adjustments | 1100 |
|
which have been made to the amount certified previously pursuant | 1101 |
|
to section 319.302 of the Revised Code and that the settlement
has | 1102 |
|
been completed. Upon receipt of such certification, the | 1103 |
|
commissioner shall provide for payment to the county treasurer | 1104 |
|
from the general revenue fund of an amount equal to one-half of | 1105 |
|
the amount certified by the treasurer in the preceding tax year | 1106 |
|
under section 319.302 of the Revised Code, less one-half of the | 1107 |
| amount computed for all taxing districts in that county for the | 1108 |
| current fiscal year under section 5703.80 of the Revised Code for | 1109 |
| crediting to the property tax administration fund. Such payment | 1110 |
| shall be
credited upon receipt to the county's undivided income | 1111 |
| tax fund,
and the county auditor shall transfer to the county | 1112 |
| general fund
from the amount thereof the total amount of all fees | 1113 |
| and charges
which the auditor and treasurer would have been | 1114 |
| authorized to
receive had such section not been in effect and that | 1115 |
|
amount had
been levied and collected as taxes. The county auditor | 1116 |
| shall
distribute the amount remaining among the various taxing | 1117 |
|
districts
in the county as if it had been levied, collected, and | 1118 |
|
settled as
real property taxes. The amount distributed to each | 1119 |
| taxing district shall be reduced by the total of the amounts | 1120 |
| computed for the district under divisions (A), (B), and (C) of | 1121 |
| section 5703.80 of the Revised Code, but the reduction shall not | 1122 |
| exceed the amount that otherwise would be distributed to the | 1123 |
| taxing district under this division. The tax commissioner shall | 1124 |
| make available to taxing districts such information as is | 1125 |
| sufficient for a taxing district to be able to determine the | 1126 |
| amount of the reduction in its distribution under this section. | 1127 |
| (G)(1) Within thirty days after the day of the settlement | 1128 |
|
required in division (D) of this section, the county treasurer | 1129 |
| shall
notify the tax commissioner that the settlement has been | 1130 |
|
completed. Upon receipt of that notification, the commissioner | 1131 |
|
shall provide for payment to the county treasurer from the
general | 1132 |
|
revenue fund of an amount equal to the amount certified under | 1133 |
| former section
319.311 of the
Revised Code and paid in the state's | 1134 |
| fiscal year 2003 multiplied by the percentage specified in | 1135 |
| division (G)(2) of this section. The payment
shall be credited | 1136 |
|
upon receipt to the county's undivided income
tax fund, and the | 1137 |
|
county auditor shall distribute the amount
thereof among the | 1138 |
|
various taxing districts of the county as if it
had been levied, | 1139 |
|
collected, and settled as personal property
taxes. The amount | 1140 |
|
received by a taxing district under this
division shall be | 1141 |
|
apportioned among its funds in the same
proportion as the current | 1142 |
|
year's personal property taxes are
apportioned. | 1143 |
| (I) Within thirty days after the day of each settlement of | 1173 |
|
taxes required under division (H) of this section, the county | 1174 |
| treasurer
shall certify to the tax commissioner any adjustments | 1175 |
| that have
been made to the amount certified previously pursuant to | 1176 |
| section
319.302 of the Revised Code and that the settlement has | 1177 |
| been
completed. Upon receipt of such certification, the | 1178 |
| commissioner
shall provide for payment to the county treasurer | 1179 |
| from the general
revenue fund of an amount equal to one-half of | 1180 |
| the amount
certified by the treasurer in the current tax year | 1181 |
| under section
319.302 of the Revised Code. Such payment shall be | 1182 |
| credited upon
receipt to the county's undivided income tax fund, | 1183 |
| and the county
auditor shall transfer to the county general fund | 1184 |
| from the amount
thereof the total amount of all fees and charges | 1185 |
| that the auditor
and treasurer would have been authorized to | 1186 |
| receive had such
section not been in effect and that amount had | 1187 |
| been levied and
collected as taxes. The county auditor shall | 1188 |
| distribute the
amount remaining among the various taxing districts | 1189 |
| in the county
as if it had been levied, collected, and settled as | 1190 |
| manufactured
home taxes. | 1191 |
| Sec. 321.46. (A) To enhance the
background and working | 1192 |
| knowledge of county treasurers in
governmental accounting, | 1193 |
| portfolio reporting and compliance,
investments, and cash | 1194 |
| management, the auditor of state and the
treasurer of state shall | 1195 |
| conduct education programs for persons
elected for the first time | 1196 |
to the office of county treasurer and
shall hold annualbiennial | 1197 |
| continuing education programs for persons who
continue to hold the | 1198 |
| office of county treasurer. Education
programs for newly elected | 1199 |
| county treasurers shall be held
between the first day of December | 1200 |
| and the first Monday of
September next following that person's | 1201 |
| election to the office of
county treasurer. Similar initial | 1202 |
| training may also be provided
to any county treasurer who is | 1203 |
| appointed to fill a vacancy or
who is elected at a special | 1204 |
| election. | 1205 |
| (3)(a) After completing one year in office, a county | 1216 |
treasurer shall be
required to take not less than twelve | 1217 |
twenty-four hours annually of continuing education during each | 1218 |
| biennial cycle. For purposes of division (B)(3)(a) of this | 1219 |
| section, a biennial cycle for continuing education shall be every | 1220 |
| two calendar years after the treasurer's first year in office.
The | 1221 |
| treasurer of state shall determine the manner and content of the | 1222 |
| education
programs in the subject areas of investments, cash | 1223 |
| management, the
collection of taxes, ethics, and any other subject | 1224 |
| area that the treasurer of
state determines is reasonably related | 1225 |
| to the duties of the office of the
county
treasurer. The auditor | 1226 |
| of state shall determine the manner and content of the
education | 1227 |
| programs in the subject areas of governmental accounting, | 1228 |
| portfolio
reporting and compliance, office management, and any | 1229 |
| other subject area that
the auditor of state determines is | 1230 |
| reasonably related to the duties of the
office of the county | 1231 |
| treasurer. | 1232 |
(E) A(1) If a county treasurer who fails to
complete the | 1257 |
initial or continuing education programs required by this section | 1258 |
without a valid health-related excuse or other special hardship | 1259 |
shall be
restricted to investing in the Ohio subdivision's fund | 1260 |
pursuant to division
(A)(6) of section 135.35 of the Revised
Code, | 1261 |
in no-load money market mutual funds pursuant to division
(A)(5) | 1262 |
of section 135.35 of the Revised Code, or in time certificate of | 1263 |
deposits or deposit accounts pursuant to
division (A)(3) of | 1264 |
section 135.35 of the Revised Code. A county treasurer who
has | 1265 |
failed to complete the initial or continuing education programs | 1266 |
and
invests in other than the investments permitted by this | 1267 |
division shall be
subject to removal from office upon
complaint | 1268 |
and investigation by the county prosecuting attorney, a hearing, | 1269 |
and a resolution adopted by the board of county commissioners | 1270 |
approving the removal from officebefore taking office, the | 1271 |
| treasurer's authority to invest county funds and to manage the | 1272 |
| county portfolio immediately is suspended, and this authority is | 1273 |
| transferred to the county's investment advisory committee until | 1274 |
| full compliance with the initial education programs is determined | 1275 |
| by the treasurer of state. | 1276 |
| (C)(1) Upon receipt of the notice described in division | 1356 |
| (B)(4) of this section, the prosecuting attorney shall
petition | 1357 |
| the court of common pleas of that county for an order
suspending | 1358 |
| the county treasurer's authority to invest county funds and
to | 1359 |
| manage the county investment portfolio. The petition shall
contain | 1360 |
| a brief statement of the facts and shall show that the
county | 1361 |
| treasurer has failed to comply with the continuing education | 1362 |
|
requirements of section 321.46 of the Revised Code.
Before or | 1363 |
|
simultaneously with the filing of the petition, the prosecuting | 1364 |
| attorney shall
serve a copy of the petition upon the county | 1365 |
| treasurer personally or by
certified mail, together with a copy of | 1366 |
| this section.
Upon the filing of the petition, the court, on the | 1367 |
| motion of the
prosecuting attorney, shall enter an order fixing a | 1368 |
| date for
hearing not later than two weeks after the date of filing | 1369 |
| and
shall require that a copy of the order be given to the county | 1370 |
|
treasurer in the manner in which a summons is required to be | 1371 |
|
served or substituted service is required to be made in other | 1372 |
|
cases. | 1373 |
| (2) On the date fixed for the hearing described in division | 1374 |
| (C)(1) of this section, or any adjournment of it, the
court shall | 1375 |
| determine from the petition and evidence submitted by either party | 1376 |
| whether the county treasurer has met the
continuing education | 1377 |
| requirements of section 321.46 of the Revised
Code for the | 1378 |
| preceding biennial cycle described in division (B)(3)(a) of | 1379 |
| section 321.46 of the Revised Code. If the court finds that the | 1380 |
|
county treasurer has failed to meet these continuing education | 1381 |
|
requirements, it shall enter an order transferring the county | 1382 |
|
treasurer's authority to invest county funds and to manage the | 1383 |
|
county portfolio to the county's investment advisory committee | 1384 |
|
until such time as the county treasurer complies fully with the | 1385 |
|
continuing education requirements. | 1386 |
Sec. 323.121. (A)
If(1) Except as otherwise provided in | 1405 |
|
division (A)(2) of this section, if one-half of the current taxes | 1406 |
|
charged against an entry of real estate together with the full | 1407 |
amount of any delinquent taxes
or any installment thereof
required | 1408 |
to be paid under a written delinquent
tax contract are not paid on | 1409 |
|
or before the thirty-first day of December in that year or on or | 1410 |
before the last day for such payment as extended pursuant to | 1411 |
|
section 323.17 of the Revised Code, a penalty of ten per cent | 1412 |
|
shall be charged against the unpaid balance of such half of the | 1413 |
current taxes on the duplicate. If the total amount of all such | 1414 |
| the
taxes is not paid on or before the twentieth day of June, next | 1415 |
thereafter, or on or before the last day for such payment as | 1416 |
|
extended pursuant to section 323.17 of the Revised Code, a like | 1417 |
|
penalty shall be charged on the balance of the total amount of | 1418 |
|
such unpaid current taxes. | 1419 |
| (2) After a valid delinquent or omitted tax contract that | 1420 |
|
includes unpaid current taxes from a first-half collection period | 1421 |
|
described in section 323.12 of the Revised Code has been entered | 1422 |
|
into under section 323.31 or 5713.20 of the Revised Code, no ten | 1423 |
|
per cent penalty shall be charged against such taxes after the | 1424 |
|
second-half collection period while the delinquent or omitted tax | 1425 |
|
contract remains in effect. On the day a delinquent or omitted
tax | 1426 |
| contract becomes void, the ten per cent penalty shall be
charged | 1427 |
| against such taxes and shall equal the amount of penalty
that | 1428 |
| would have been charged against unpaid current taxes
outstanding | 1429 |
| on the date on which the second-half penalty would
have been | 1430 |
| charged thereon under division (A)(1) of this section if
the | 1431 |
| contract had not been in effect. | 1432 |
| (B)(1) On the first day of the month following the last
day | 1433 |
|
the second installment of taxes may be paid without penalty, | 1434 |
|
interest shall be charged against and computed on all delinquent | 1435 |
|
taxes other than the current taxes that became delinquent taxes
at | 1436 |
|
the close of the last day such second installment could be
paid | 1437 |
|
without penalty. The charge shall be for interest that
accrued | 1438 |
|
during the period that began on the preceding first day
of | 1439 |
|
December and ended on the last day of the month that included
the | 1440 |
|
last date such second installment could be paid without
penalty. | 1441 |
|
The interest shall be computed at the rate per annum
prescribed by | 1442 |
|
section 5703.47 of the Revised Code and shall be
entered as a | 1443 |
|
separate item on the tax list and duplicate compiled
under section | 1444 |
|
319.28 or 5721.011 of the Revised Code, whichever
list and | 1445 |
duplicate are first compiled after the date on which
suchthe | 1446 |
| interest
is computed and charged. However, for tracts and lots on | 1447 |
| the
real
property tax suspension list under section 319.48 of the | 1448 |
| Revised
Code,
the interest shall not be entered on the tax list | 1449 |
| and
duplicate compiled under
section 319.28 of the Revised Code, | 1450 |
| but
shall be entered on the first tax list
and duplicate compiled | 1451 |
|
under section 5721.011 of the Revised Code after the
date on which | 1452 |
|
the interest is computed and charged. | 1453 |
| (2) On the first day of December, the interest shall be | 1454 |
|
charged against and computed on all delinquent taxes. The charge | 1455 |
|
shall be for interest that accrued during the period that began
on | 1456 |
|
the first day of the month following the last date prescribed
for | 1457 |
|
the payment of the second installment of taxes in the current
year | 1458 |
|
and ended on the immediately preceding last day of November.
The | 1459 |
|
interest shall be computed at the rate per annum prescribed
by | 1460 |
|
section 5703.47 of the Revised Code and shall be entered as a | 1461 |
|
separate item on the tax list and duplicate compiled under
section | 1462 |
|
319.28 or 5721.011 of the Revised Code, whichever list
and | 1463 |
duplicate are first compiled after the date on which suchthe | 1464 |
|
interest
is computed and charged. However, for tracts and lots on | 1465 |
| the real
property tax suspension list under section 319.48 of the | 1466 |
| Revised
Code, the
interest shall not be entered on the tax list | 1467 |
| and
duplicate compiled under
section 319.28 of the Revised Code, | 1468 |
| but
shall be entered on the first tax list
and duplicate compiled | 1469 |
|
under section 5721.011 of the Revised Code after the
date on which | 1470 |
|
the interest is computed and charged. | 1471 |
| (3) After a valid delinquent tax contract has been
entered | 1472 |
|
into for
the payment of any delinquent taxes, no interest shall be | 1473 |
|
charged
against such delinquent taxes while the delinquent
tax | 1474 |
|
contract remains in
effect in compliance with section 323.31 of | 1475 |
|
the Revised Code. If
a valid delinquent tax contract becomes
void, | 1476 |
|
interest
shall be charged
against the delinquent taxes for
the | 1477 |
| periods that interest was
not permitted to be charged while
the | 1478 |
| delinquent
tax contract was in effect.
The interest shall be | 1479 |
|
charged on the day the delinquent
tax contract becomes
void and | 1480 |
|
shall equal the amount of interest that would have been
charged | 1481 |
|
against the unpaid delinquent taxes outstanding on the
dates on | 1482 |
|
which interest would have been charged thereon under
divisions | 1483 |
|
(B)(1) and (2) of this section had the
delinquent tax contract not | 1484 |
|
been in effect. | 1485 |
| Sec. 323.31. (A)(1) A person who owns agricultural real | 1499 |
|
property or
owns and occupies residential
real property or a | 1500 |
|
manufactured or mobile home that does
not have an outstanding tax | 1501 |
|
lien certificate or judgment of foreclosure
against it, and a | 1502 |
|
person who is a vendee of such property under a purchase
agreement | 1503 |
|
or land contract and who occupies the property, shall have at | 1504 |
least
one opportunity to pay theany delinquent or unpaid current | 1505 |
|
taxes, or both, charged against
the property by entering into
a | 1506 |
| written
delinquent tax contract with the county
treasurer in
a | 1507 |
| form
prescribed or approved by the tax commissioner.
Subsequent | 1508 |
|
opportunities to enter into a delinquent tax contract shall be
at | 1509 |
|
the county treasurer's sole discretion. | 1510 |
| (3) The delinquent tax contract described in division (A) of | 1516 |
| this section
may be entered into at any time
prior to the | 1517 |
| commencement of
foreclosure proceedings by the
county
treasurer | 1518 |
| and the county prosecuting attorney
pursuant to section
323.25 of | 1519 |
| the Revised Code or by the county prosecuting
attorney
pursuant to | 1520 |
| section 5721.18 of the Revised Code, the
commencement
of | 1521 |
| foreclosure proceedings by a private attorney pursuant to
section | 1522 |
| 5721.37 of the Revised Code, the
commencement of
foreclosure and | 1523 |
| forfeiture proceedings pursuant
to section 5721.14
of the Revised | 1524 |
| Code, or the commencement of
collection proceedings
pursuant to | 1525 |
| division (H) of section 4503.06
of the Revised Code by
the filing | 1526 |
| of a civil action as provided in that division. A
duplicate copy | 1527 |
| of each
delinquent tax contract shall be filed with
the
county | 1528 |
| auditor, who
shall attach the copy to the delinquent
land tax | 1529 |
| certificate,
delinquent vacant land tax certificate, or
the | 1530 |
| delinquent manufactured home
tax list, or who shall enter an | 1531 |
|
asterisk in the margin next to the entry for the tract or lot on | 1532 |
|
the master list of delinquent tracts, master list of
delinquent | 1533 |
|
vacant tracts, or next to the entry for the home on the delinquent | 1534 |
|
manufactured home tax list, prior to filing it with the | 1535 |
|
prosecuting
attorney
under section 5721.13 of the Revised Code, | 1536 |
|
or, in the case of the
delinquent manufactured home tax list, | 1537 |
|
prior to
delivering it to the county
treasurer under division | 1538 |
|
(H)(2)
of section 4503.06 of the Revised Code. If the
delinquent | 1539 |
|
tax contract is entered into after the certificate or the
master | 1540 |
|
list has been
filed with the prosecuting attorney, the treasurer | 1541 |
|
shall file the
duplicate copy with the prosecuting attorney. | 1542 |
| (5) For each delinquent tax contract entered into under | 1553 |
| division (A) of this section, the county
treasurer shall
determine | 1554 |
| and shall specify in the
delinquent tax contract the
number of | 1555 |
| installments, the amount of each
installment, and
the
schedule for | 1556 |
| payment of the installments.
The part of each
installment payment | 1557 |
|
representing taxes and penalties and interest
thereon shall be | 1558 |
| apportioned among the
several taxing districts in
the
same | 1559 |
| proportion that the amount of taxes levied by each
district | 1560 |
| against the
entry in the preceding tax year bears to the
taxes | 1561 |
| levied by all such
districts against the entry in the
preceding | 1562 |
| tax year. The part of each
payment representing
assessments and | 1563 |
| other charges shall be credited to those
items in
the order in | 1564 |
| which they became due. Each payment made to a taxing
district | 1565 |
| shall be apportioned among the taxing district's several
funds for | 1566 |
| which taxes
or assessments have been
levied. | 1567 |
(7) Upon receipt of such a certification described in | 1577 |
| division (A)(6) of this section, the auditor shall
destroy the | 1578 |
| duplicate copy of the voided delinquent
tax contract.
If such copy | 1579 |
|
has been filed with the prosecuting attorney, the
auditor | 1580 |
| immediately
shall deliver the certification to the
prosecuting | 1581 |
| attorney, who
shall attach it to the appropriate
certificate and | 1582 |
| the duplicate
copy of the voided delinquent tax
contract or strike | 1583 |
|
through the asterisk
entered in the margin of
the master list next | 1584 |
| to the entry for
the tract or lot that is the
subject of the | 1585 |
| voided
delinquent tax contract. The prosecuting
attorney then | 1586 |
| shall institute
a proceeding to
foreclose the lien
of the state in | 1587 |
| accordance with section 323.25
or 5721.18 of the
Revised Code or, | 1588 |
| in the case of delinquent
vacant land, a
foreclosure proceeding in | 1589 |
|
accordance with section 323.25 or
5721.18 of the Revised Code, or | 1590 |
|
a foreclosure and forfeiture
proceeding in accordance with
section | 1591 |
| 5721.14 of the Revised Code.
In the case of a manufactured or | 1592 |
|
mobile home, the county treasurer
shall cause a civil action to be | 1593 |
| brought as
provided under
division (H) of section 4503.06 of the | 1594 |
| Revised Code. | 1595 |
| (2) The year for which the manufactured home tax is
levied | 1648 |
|
commences on the first day of January and ends on the following | 1649 |
|
thirty-first day of December.
The state shall have the
first lien | 1650 |
|
on any manufactured or mobile home on the list for the amount
of | 1651 |
|
taxes, penalties, and interest charged against the owner of the | 1652 |
|
home under this section.
The lien of the state for the tax for a | 1653 |
|
year shall attach on the first day of January to a home that has | 1654 |
|
acquired
situs on that date. The lien
for a home that has not | 1655 |
|
acquired situs on the first day of
January, but that acquires | 1656 |
|
situs during the year, shall attach on the
next first day of | 1657 |
|
January. The lien shall continue until the tax,
including any | 1658 |
|
penalty or interest, is paid. | 1659 |
| (3)
On or before the fifteenth day of January each year,
the | 1739 |
| county
auditor shall record the assessable value and the
amount of | 1740 |
|
tax on the manufactured or mobile home on the tax list
and deliver | 1741 |
|
a duplicate of the list to the county
treasurer. In the case of
an | 1742 |
| emergency as defined in section 323.17 of the Revised Code,
the | 1743 |
|
tax
commissioner, by journal entry, may extend the times
for | 1744 |
|
delivery of the duplicate for an additional fifteen days upon | 1745 |
|
receiving a
written application from
the county auditor regarding | 1746 |
|
an extension for the delivery of the
duplicate, or from the county | 1747 |
|
treasurer regarding an extension of
the time for the billing and | 1748 |
|
collection of taxes. The application
shall contain a statement | 1749 |
|
describing the emergency that will cause
the unavoidable delay and | 1750 |
|
must be received by the tax
commissioner on or before the last day | 1751 |
|
of the month preceding the
day delivery of the duplicate is | 1752 |
|
otherwise required. When an extension
is granted for delivery of | 1753 |
|
the duplicate, the time period for payment
of taxes shall be | 1754 |
|
extended for a like period of time. When a
delay in the closing
of | 1755 |
| a tax collection period becomes
unavoidable, the tax
commissioner, | 1756 |
| upon application by the county
auditor and county
treasurer, may | 1757 |
| order the time for payment of
taxes to be extended
if the tax | 1758 |
| commissioner determines that
penalties have accrued or
would | 1759 |
| otherwise accrue for reasons
beyond the control of the
taxpayers | 1760 |
| of the county. The order
shall prescribe the final
extended date | 1761 |
| for payment of taxes for
that collection period. | 1762 |
| (6)(a) Immediately upon receipt of any manufactured home tax | 1780 |
|
duplicate from the county auditor, but not less than twenty days | 1781 |
|
prior to the
last date on which the first one-half taxes may be | 1782 |
|
paid without
penalty as prescribed in division (F) of this | 1783 |
|
section,
the county treasurer shall cause to be prepared and | 1784 |
|
mailed
or delivered to each person charged on that duplicate with | 1785 |
|
taxes,
or to an agent designated by such person, the tax bill | 1786 |
|
prescribed
by the tax commissioner under division (D)(7) of this | 1787 |
|
section.
When taxes are paid by installments, the
county
treasurer | 1788 |
| shall mail or deliver to each person charged on
such
duplicate or | 1789 |
the agent designated by suchthat person a second
tax bill
showing | 1790 |
| the amount due at the time of the second tax
collection.
The | 1791 |
| second half tax bill shall be mailed or
delivered at least
twenty | 1792 |
| days prior to the close of the second
half tax collection
period.
| 1793 |
| A change in the mailing address of any tax bill shall be
made in | 1794 |
| writing to the county treasurer.
Failure to receive a
bill | 1795 |
| required by this section does
not excuse failure or delay to
pay | 1796 |
| any taxes shown on the bill
or, except as provided in division | 1797 |
|
(B)(1) of section 5715.39 of the
Revised Code, avoid any penalty, | 1798 |
|
interest, or charge for
such
delay. | 1799 |
(G)(1)
If(a) Except as otherwise provided in division | 1899 |
|
(G)(1)(b) of this section, if one-half of the current taxes | 1900 |
|
charged under this
section against a manufactured or mobile home, | 1901 |
together
with the
full
amount of any delinquent taxes
or any | 1902 |
installment thereof
required to be paid under a written | 1903 |
undertaking, are not paid on
or before the
thirty-first day of | 1904 |
Januaryfirst day of March in that year, or on or
before the last | 1905 |
|
day for such payment as extended pursuant to
section 4503.063 of | 1906 |
|
the Revised Code, a penalty of ten per
cent
shall be charged | 1907 |
|
against the unpaid balance of such half of the
current taxes. If | 1908 |
|
the total amount of all such
taxes is not paid
on or before the | 1909 |
|
thirty-first day of July, next
thereafter, or on
or before the | 1910 |
last day for such payment as
extended pursuant to
section 4503.063 | 1911 |
|
of the Revised Code, a
like penalty shall be
charged on the | 1912 |
balance of the total amount of
suchthe unpaid current
taxes. | 1913 |
| (2)(a) On the first day of the month following the last
day | 1926 |
|
the second installment of taxes may be paid without penalty | 1927 |
|
beginning
in 2000,
interest shall be charged against and computed | 1928 |
|
on all delinquent
taxes other than the current taxes that became | 1929 |
|
delinquent taxes
at the close of the last day such second | 1930 |
|
installment could be
paid without penalty. The charge shall be
for | 1931 |
| interest that
accrued during the period that began on the | 1932 |
|
preceding first day
of December and ended on the last day of the | 1933 |
|
month that included
the last date such second installment could be | 1934 |
|
paid without
penalty. The interest shall be computed at the rate | 1935 |
|
per annum
prescribed by section 5703.47 of the Revised Code and | 1936 |
|
shall be
entered as a separate item on the delinquent manufactured | 1937 |
|
home tax list
compiled under division (H) of this section. | 1938 |
| (c) After a valid undertaking has been entered into for
the | 1949 |
|
payment of any delinquent taxes, no interest shall be charged | 1950 |
|
against such delinquent taxes while the undertaking remains in | 1951 |
|
effect in compliance with section 323.31 of the Revised Code. If
a | 1952 |
| valid undertaking becomes void, interest shall be charged
against | 1953 |
| the delinquent taxes for the periods that interest was
not | 1954 |
|
permitted to be charged while the undertaking was in effect.
The | 1955 |
|
interest shall be charged on the day the undertaking becomes
void | 1956 |
|
and shall equal the amount of interest that would have been | 1957 |
|
charged against the unpaid delinquent taxes outstanding on the | 1958 |
|
dates on which interest would have been charged thereon under | 1959 |
|
divisions (G)(1) and (2) of this section had the undertaking not | 1960 |
|
been in effect. | 1961 |
| (3) When taxes, penalties, or interest
are
charged
against a | 1992 |
|
person on the delinquent manufactured home tax list
and
are not | 1993 |
| paid within sixty days after the list is delivered to
the
county | 1994 |
| treasurer, the county treasurer shall, in addition
to any
other | 1995 |
| remedy provided by law for the collection of taxes,
penalties, and | 1996 |
| interest, enforce collection of
such taxes,
penalties, and | 1997 |
| interest by civil action in the name of the
treasurer against the | 1998 |
| owner for
the recovery of the unpaid taxes
following the | 1999 |
| procedures for the recovery
of delinquent real
property taxes in | 2000 |
| sections 323.25 to 323.28
of the Revised Code.
The action may be | 2001 |
| brought in municipal or county court,
provided
the amount
charged | 2002 |
| does not exceed the monetary
limitations for
original jurisdiction | 2003 |
| for civil actions in those
courts. | 2004 |
| It is sufficient, having made proper parties to the suit,
for | 2005 |
|
the county treasurer to allege in the treasurer's bill of | 2006 |
|
particulars or
petition that the taxes stand chargeable on the | 2007 |
| books of the
county treasurer against such person, that they are | 2008 |
| due and
unpaid, and that such person is indebted in the amount of | 2009 |
| taxes
appearing to be due the county. The treasurer need not set | 2010 |
| forth
any other matter relating thereto. If
it is found on the | 2011 |
| trial of
the action that the person
is indebted to the state, | 2012 |
| judgment
shall be rendered in favor of
the county treasurer | 2013 |
| prosecuting the
action. The judgment debtor is
not entitled to the | 2014 |
| benefit of any
law for stay of execution or
exemption of property | 2015 |
| from levy or
sale on execution in the
enforcement of the judgment. | 2016 |
| (I) The total amount of taxes collected shall be
distributed | 2024 |
|
in the following manner:
four per cent shall be allowed as | 2025 |
|
compensation to the county
auditor for the county auditor's | 2026 |
|
service in assessing the
taxes; two per cent
shall be allowed as | 2027 |
|
compensation to the county treasurer for the
services the county | 2028 |
|
treasurer renders as a result of the tax
levied by this
section. | 2029 |
|
Such amounts shall be paid into the county treasury, to
the credit | 2030 |
|
of the county general revenue fund,
on the warrant of the county | 2031 |
|
auditor. Fees to be paid to the credit of the real estate | 2032 |
|
assessment fund
shall be collected pursuant to division (B) of | 2033 |
|
section 319.54 of the Revised
Code and paid into the county | 2034 |
|
treasury, on the warrant of the county
auditor. The balance of
the | 2035 |
| taxes collected shall be distributed
among the taxing
subdivisions | 2036 |
| of the county in which the taxes
are collected and
paid in the | 2037 |
| same ratio as those taxes were
collected for the
benefit of the | 2038 |
| taxing subdivision. The taxes levied
and revenues
collected
under | 2039 |
| this section shall be in lieu of any general
property tax
and any | 2040 |
| tax levied with respect to the privilege of
using or
occupying a | 2041 |
| manufactured or mobile home in Ohio except as
provided in
sections | 2042 |
| 4503.04 and 5741.02 of the Revised Code. | 2043 |
| (L)(1) The county
auditor shall appraise at its true value | 2054 |
|
any manufactured or mobile home in
which ownership is transferred | 2055 |
|
or which first acquires situs in this state on
or after January 1, | 2056 |
|
2000, and any manufactured or mobile home the
owner of which has | 2057 |
|
elected, under division (D)(4) of this section, to have the home | 2058 |
|
taxed under division (D)(2) of this section. The true value
shall | 2059 |
|
include the
value of the home, any additions, and any fixtures, | 2060 |
|
but not any
furnishings in the home. In determining the true
value | 2061 |
| of a
manufactured or mobile home, the auditor shall consider
all | 2062 |
|
facts and circumstances relating to the value of the home, | 2063 |
|
including its age, its capacity to function as a residence, any | 2064 |
|
obsolete characteristics, and other factors that may tend to prove | 2065 |
|
its true value. | 2066 |
(M) If the county auditor determines that any tax, | 2121 |
assessment,or other charge, or any part thereof has been | 2122 |
|
erroneously
charged as a result of a clerical error as defined in | 2123 |
section
319.35 of the Revised Code, the county
treasurer and | 2124 |
| auditor shall call the attention of the county
board of revision | 2125 |
| to the erroneous charges. If the board finds that the taxes or | 2126 |
|
other charges have been erroneously charged or collected, it shall | 2127 |
|
certify the finding to the auditor. Upon receipt of the | 2128 |
|
certification, the auditor shall remove the erroneous charges
on | 2129 |
|
the
manufactured home tax list or delinquent manufactured home tax | 2130 |
|
list
in the same manner as is prescribed in section 319.35 of the | 2131 |
|
Revised Code for erroneous charges against real property,
and | 2132 |
|
refund any erroneous charges that have been collected,
with | 2133 |
|
interest, in the same manner as is prescribed in section
319.36 of | 2134 |
|
the
Revised Code for erroneous charges against real
property. | 2135 |
| Sec. 5713.20. (A) If the county auditor discovers that any | 2159 |
|
building, structure, or tract of land or any lot or part of | 2160 |
|
either, has been omitted from the list of real property, the | 2161 |
|
auditor shall
add it to the list, with the name of the owner, and | 2162 |
|
ascertain the
taxable value thereof and place it opposite such | 2163 |
|
property. The
county auditor shall compute the sum of the simple | 2164 |
taxes for the
preceding years in which suchthe property was | 2165 |
| omitted
from the
list of real property, not exceeding five years, | 2166 |
| unless
in the
meantime the property has changed ownership, in | 2167 |
| which case
only
the taxes chargeable since the last change of | 2168 |
| ownership shall
be
computed. No penalty or interest shall be added | 2169 |
| to the amount
of
taxes so computed. | 2170 |
A delinquent(B) An omitted tax contract entered into under | 2181 |
|
this
section for
the payment of taxes in installments shall | 2182 |
| require
that the
installments be payable at the times and in the | 2183 |
| amounts
specified
by the county treasurer in the contract. The | 2184 |
owner
may
request, and the
treasurer shall allow,
a delinquentan | 2185 |
| omitted
tax contract
providing for payment in installments
over no | 2186 |
| fewer
than two years; however, the treasurer shall not permit a | 2187 |
|
contract
to provide for payment in installments over
more
than | 2188 |
| five years.
Each installment
payment shall be apportioned among | 2189 |
| the several
funds for which the taxes on
the omitted property | 2190 |
| would have been
assessed had the property not been
omitted, and | 2191 |
| shall be applied
to the items of taxes charged in the order in | 2192 |
|
which they became
due. If an installment payment is not received | 2193 |
| by the
county
treasurer when due, or any payment of current taxes | 2194 |
| is not made
when
due, the contract becomes void, and the
county | 2195 |
| treasurer shall
order payment of the entire outstanding
balance of | 2196 |
| taxes
determined to be due under this section in one
lump-sum | 2197 |
| payment. | 2198 |
| Sec. 5721.021. If the board of county commissioners serving | 2209 |
| a county with a population of at least two hundred thousand deems | 2210 |
| it necessary, it may, with the consent of the prosecuting | 2211 |
| attorney, authorize the county treasurer to employ collectors to | 2212 |
| collect the delinquent taxes on the list mentioned in section | 2213 |
| 5721.011 of the Revised Code, or part thereof, and fix the | 2214 |
| compensation of such collectors, and provide for the reasonable | 2215 |
| and necessary expenses of such collectors in the pursuit of their | 2216 |
| duties, which shall be paid out of the county treasury. All such | 2217 |
| compensation and expenses shall be apportioned ratably by the | 2218 |
| county auditor among all the funds entitled to share in the | 2219 |
| distribution of the taxes. As used in this section, "delinquent | 2220 |
| taxes" has the same meaning as under division (E) of section | 2221 |
| 323.01 of the Revised Code. | 2222 |
| Sec. 5721.10. Except as otherwise provided under sections | 2223 |
5721.30 to
5721.425721.43 of the Revised Code, the state
shall | 2224 |
|
have the first lien on
the
lands and lots described in the | 2225 |
|
delinquent land list, for the
amount of taxes, assessments, | 2226 |
|
interest, and penalty charged prior
to the delivery of such list. | 2227 |
|
If the taxes have not been paid
for one year after having been | 2228 |
|
certified as delinquent, the state
shall institute foreclosure | 2229 |
|
proceedings in the manner provided by
sections 5721.01 to 5721.28 | 2230 |
|
of the Revised Code, unless a tax certificate
respecting that | 2231 |
|
property has been sold under section 5721.32 or 5721.33 of the | 2232 |
|
Revised Code,
or
unless such taxes
are the subject of a valid | 2233 |
|
delinquent tax contract
under section 323.31 of
the Revised Code | 2234 |
|
for which the county treasurer has not made
certification to the | 2235 |
|
county auditor that the delinquent
tax contract has
become void. | 2236 |
|
The court
shall levy, as costs in
the foreclosure proceedings | 2237 |
instituted on saidthe certification of delinquency, the
cost of | 2238 |
| an abstract or
certificate of title to the property
described in | 2239 |
saidthe
certification, if the sameit is required by the
court, | 2240 |
| to be paid
into the general fund of the county. Sections 5721.01 | 2241 |
| to
5721.28
of the Revised Code do not prevent the
partial payment | 2242 |
| of such
delinquent
taxes, assessments, interest, and penalty | 2243 |
| during the
period the
delinquency is being discharged in | 2244 |
| accordance with a
delinquent tax contract
under section 323.31 of | 2245 |
the Revised Code,
but suchthe partial
payments may be made and | 2246 |
| received as provided by
law without
prejudice to the right of the | 2247 |
| state to institute
foreclosure
proceedings for any amount then | 2248 |
| remaining unpaid, if
the county
treasurer certifies to the county | 2249 |
| auditor that the
delinquent tax contract
has become void. | 2250 |
| (A)
"Tax certificate,"
"certificate," or
"duplicate | 2253 |
certificate"
means a document whichthat may be issued as a | 2254 |
| physical
certificate, in
book-entry form, or through an electronic | 2255 |
| medium,
at the discretion of the
county treasurer. Such document | 2256 |
| shall
contain
the information required by section
5721.31 of the | 2257 |
| Revised
Code and shall be prepared, transferred, or redeemed in | 2258 |
the manner
prescribed
by
sections 5721.30 to
5721.415721.43 of | 2259 |
| the Revised
Code. As
used in those sections,
"tax
certificate," | 2260 |
|
"certificate," and
"duplicate certificate" do not
refer to the | 2261 |
|
delinquent land tax
certificate or the delinquent vacant land tax | 2262 |
|
certificate issued
under section 5721.13 of the Revised Code. | 2263 |
| (D)
"Certificate purchase price" means, with respect to the | 2270 |
sale
of tax certificates under sections 5721.32
and, 5721.33, and | 2271 |
|
5721.42 of the
Revised Code,
the amount equal
to delinquent
taxes, | 2272 |
|
assessments,
penalties, and interest computed under
section | 2273 |
|
323.121 of the
Revised Code charged against a certificate
parcel | 2274 |
|
at the time the
tax certificate respecting that
parcel is sold, | 2275 |
|
not including any
delinquent taxes, assessments, penalties, | 2276 |
|
interest, and charges,
the lien for which has been conveyed to a | 2277 |
|
certificate
holder
through a prior sale of a tax certificate | 2278 |
|
respecting that parcel;
provided, however, that payment of the | 2279 |
|
certificate purchase price
in a
sale under section 5721.33 of the | 2280 |
|
Revised Code may be made
wholly in cash or
partially in
cash and | 2281 |
|
partially by noncash
consideration acceptable to the county | 2282 |
|
treasurer
from the
purchaser. In the event that any such noncash | 2283 |
|
consideration is
delivered to pay a portion of the certificate | 2284 |
|
purchase price, such
noncash
consideration may be subordinate to | 2285 |
|
the rights of the
holders of other
obligations whose proceeds paid | 2286 |
|
the cash portion
of the certificate purchase
price. | 2287 |
| Sec. 5721.31. (A) After receipt of a duplicate of the | 2426 |
| delinquent
land list compiled under section 5721.011 of the | 2427 |
| Revised
Code, or a delinquent land list compiled previously under | 2428 |
| that
section, for a county having a population of at least two | 2429 |
| hundred
thousand according to the most recent federal decennial | 2430 |
| census, the county
treasurer may select from the list parcels of | 2431 |
| delinquent land the lien
against which the county treasurer may | 2432 |
| attempt to transfer by the
sale of tax certificates under sections | 2433 |
5721.30 to 5721.415721.43 of the
Revised Code. The county | 2434 |
| treasurer may select
only those eligible parcels for which taxes, | 2435 |
| assessments, penalties,
interest, and charges have not yet been | 2436 |
| paid or for which
a valid delinquent tax contract
under section | 2437 |
| 323.31 of the Revised Code is not in force.
Each certificate shall | 2438 |
| contain the
same information as is required to be contained in the | 2439 |
| delinquent land list.
The county treasurer shall compile a | 2440 |
| separate list, the list of
parcels selected for tax certificate | 2441 |
| sales,
including the same information as is required to be | 2442 |
|
included in the delinquent land list. | 2443 |
(B)(1) WhenExcept as otherwise provided in division (B)(3) | 2447 |
| of this section, when tax certificates are to be sold under | 2448 |
| section 5721.32
of the Revised Code with respect to parcels, the | 2449 |
| county treasurer shall send
written
notice by certified or | 2450 |
| registered mail to either the owner of record or
all interested | 2451 |
|
parties discoverable through a title search, or both, of each | 2452 |
| parcel on
the
list. A notice to an owner shall be sent to the | 2453 |
| owner's last known tax
mailing address. The notice shall inform | 2454 |
| the owner or interested
parties that a tax
certificate
will be | 2455 |
| offered for sale on the parcel, and that the owner or interested | 2456 |
|
parties may
incur additional expenses as a result of the sale. | 2457 |
(2) WhenExcept as otherwise provided in division (B)(3) of | 2458 |
| this section, when tax certificates are to be sold under section | 2459 |
| 5721.33 of the Revised
Code with respect to parcels, the county | 2460 |
treasurer, at least
sixtythirty days prior to the
date of sale of | 2461 |
| such tax certificates, shall send written notice of the sale
by | 2462 |
| certified or registered mail, or both, to the last known | 2463 |
| tax-mailing
address of the
record owner of the property or parcel | 2464 |
orand may send such notice to all parties with an interest in
the | 2465 |
| property that has been recorded in the property records of the | 2466 |
county
pursuant to section 317.08 of the Revised Code, or to such | 2467 |
owner and all such parties. The notice shall state that a
tax | 2468 |
|
certificate will be offered for sale on the parcel, and that the | 2469 |
| owner or
interested parties may incur additional expenses as a | 2470 |
| result of the sale. | 2471 |
| (D) After the county treasurer has compiled the list of | 2485 |
| parcels
selected for tax certificate sales but before a tax | 2486 |
| certificate respecting a
parcel is sold, if the owner of record of | 2487 |
| the parcel pays to the county
treasurer in cash the full amount of | 2488 |
| delinquent taxes, assessments, penalties,
interest, and charges | 2489 |
| then due and payable or enters into a valid
delinquent tax | 2490 |
| contract under section 323.31 of the
Revised Code to pay that | 2491 |
| amount, the owner of record of the
parcel also shall
pay a fee in | 2492 |
| an amount prescribed by the treasurer to cover the administrative | 2493 |
|
costs of the treasurer under this section respecting the parcel | 2494 |
| and credited
to the tax certificate administration fund. | 2495 |
| (2) No person shall be permitted to bid
without completing a | 2532 |
|
bidder registration form, in the form
prescribed by the tax | 2533 |
|
commissioner, and filing the form with the
county treasurer prior | 2534 |
|
to the start of the auction, together with
remittance of a | 2535 |
|
registration fee, in cash, of five hundred
dollars. The bidder | 2536 |
|
registration form shall include a tax identification
number of the | 2537 |
|
registrant. The registration fee is refundable at the end of | 2538 |
|
bidding on the day of the auction, unless the registrant is the | 2539 |
|
winning bidder for one or more tax certificates or one or more | 2540 |
|
blocks of tax
certificates, in which case
the fee may be applied | 2541 |
|
toward the deposit required by this
section. | 2542 |
| (E) Upon receipt of the full payment of the
certificate | 2573 |
|
purchase price from the purchaser, the county
treasurer shall | 2574 |
|
issue the tax certificate and record the tax certificate sale
by | 2575 |
|
marking on the
tax certificate and into a tax certificate | 2576 |
|
register, the
certificate purchase price, the certificate rate of | 2577 |
|
interest, the date the
certificate was sold, and the name and | 2578 |
|
address of the certificate holder, which may be, upon receipt of | 2579 |
|
instructions
from the purchaser, the secured party of the actual | 2580 |
|
purchaser, or an agent or
custodian for the purchaser or secured | 2581 |
|
party. The county treasurer also shall
transfer the tax | 2582 |
|
certificate to
the certificate holder and, upon presentation to | 2583 |
|
the treasurer of instructions
signed by the certificate purchaser, | 2584 |
|
shall record in the tax certificate
register the name and address | 2585 |
|
of any secured party of the certificate
purchaser having a | 2586 |
|
security interest in the tax certificate. Upon the
transfer of a | 2587 |
|
tax certificate, the
county treasurer shall
apportion the
part of | 2588 |
| the proceeds
from the sale
representing taxes, penalties,
and | 2589 |
| interest among the several
taxing districts in the same
proportion | 2590 |
| that the amount of taxes levied
by each district
against the | 2591 |
| certificate parcel in the preceding tax year
bears to
the taxes | 2592 |
| levied by all such districts against the certificate
parcel in the | 2593 |
| preceding tax year, and credit the part of the
proceeds | 2594 |
| representing assessments and other charges
to the items
of
| 2595 |
| assessments and
charges in the
order in which those items became | 2596 |
| due. Upon completion of the
sale of a tax certificate, the | 2597 |
| delinquent taxes, assessments,
penalties, and
interest that make | 2598 |
| up the certificate purchase
price are
transferred, and the | 2599 |
| superior lien of the state and its
taxing districts for
those | 2600 |
| taxes, assessments, penalties, and
interest is conveyed intact to | 2601 |
| the
certificate holder. | 2602 |
| (F) If a tax certificate is offered for sale under this | 2603 |
|
section but is not sold, the county treasurer may strike the | 2604 |
|
corresponding certificate parcel from the list of parcels
selected | 2605 |
|
for tax certificate sales. The lien for taxes,
assessments, | 2606 |
|
charges, penalties, and interest against a parcel stricken from | 2607 |
|
the list thereafter may be foreclosed in the manner prescribed by | 2608 |
|
section 323.25, 5721.14, or 5721.18 of the Revised
Code unless, | 2609 |
|
prior to the institution of such proceedings
against the parcel, | 2610 |
|
the county treasurer restores the parcel to
the list of parcels | 2611 |
|
selected for tax certificate sales. | 2612 |
(E)(1) The county treasurer may promulgateshall adopt rules | 2667 |
| governing
the
eligibility of persons to purchase tax certificates | 2668 |
| or to
otherwise
participate in a negotiated sale under this | 2669 |
| section.
The
rules may provide
for precertification of such | 2670 |
| persons,
including
a requirement for disclosure
of income, assets, | 2671 |
| and any
other
financial information the county treasurer | 2672 |
determines
appropriate.
The rules may also may prohibit any person | 2673 |
| that is
delinquent in the
payment of any tax to the county or to | 2674 |
| the
state, or that is
in
default in or on any other obligation to | 2675 |
| the
county or to the
state, from
purchasing a tax certificate or | 2676 |
|
otherwise
participating in a negotiated sale
of tax certificates | 2677 |
|
under this
section. The eligibility information required
shall | 2678 |
|
include the
tax identification number of the purchaser and may | 2679 |
|
include
the tax
identification number of the participant. The | 2680 |
| county treasurer, upon request, shall provide a copy of the rules | 2681 |
| adopted under this section. | 2682 |
| (2) Any person that intends to purchase a tax certificate in | 2683 |
|
a negotiated
sale shall submit an affidavit to the county | 2684 |
|
treasurer that establishes
compliance with the applicable | 2685 |
|
eligibility criteria and includes any other
information required | 2686 |
|
by the treasurer. Any person that fails to submit such
an | 2687 |
|
affidavit is ineligible to purchase a tax certificate. Any person | 2688 |
|
that
knowingly submits a false or misleading affidavit shall | 2689 |
|
forfeit any tax
certificate or certificates purchased by the | 2690 |
|
person at a sale for which the
affidavit was submitted, shall be | 2691 |
|
liable for payment of the full certificate
purchase price, plus | 2692 |
|
any applicable premium and less any applicable discount,
of the | 2693 |
|
tax certificate or certificates, and shall be disqualified from | 2694 |
|
participating in any tax certificate sale conducted in the county | 2695 |
|
during the
next five years. | 2696 |
| (3) A tax certificate shall not be sold to the owner of the | 2697 |
|
certificate
parcel or to any corporation, partnership, or | 2698 |
|
association in which such owner
has an interest. No person that | 2699 |
|
purchases a tax certificate in a negotiated
sale shall assign or | 2700 |
|
transfer the tax certificate to the owner of the
certificate | 2701 |
|
parcel or to any corporation, partnership, or association in which | 2702 |
|
the owner has an interest. Any person that knowingly or | 2703 |
negligently transfers
or assigns such a tax certificate to the | 2704 |
|
owner of the certificate parcel or to
any corporation, | 2705 |
|
partnership, or association in which such owner has an
interest | 2706 |
|
shall be liable for payment of the full certificate purchase | 2707 |
|
price,
plus any applicable premium and less any applicable | 2708 |
|
discount, and shall not be
entitled to a refund of any amount | 2709 |
|
paid. Such tax certificate shall be deemed
void and the tax lien | 2710 |
sold under suchthe tax certificate shall revert to the
county as | 2711 |
if
no sale of suchthe
tax certificate had occurred. | 2712 |
| (F) The purchaser in a negotiated sale under this section | 2713 |
|
shall
deliver the certificate purchase price, plus any applicable | 2714 |
|
premium and less
any applicable discount and including any noncash | 2715 |
|
consideration, to the
county treasurer not later than the close of | 2716 |
|
business on the date the tax
certificates are delivered to the | 2717 |
|
purchaser. The certificate purchase price,
plus any applicable | 2718 |
|
premium and less any applicable discount, or portion of
the price, | 2719 |
|
that is paid in cash shall be deposited in the county's general | 2720 |
|
fund to the credit of the account to which ad valorem real | 2721 |
|
property taxes are
credited and further credited as provided in | 2722 |
division (G) of this
section. The purchaser shall also shall pay | 2723 |
| on the
date the tax certificates are
delivered to the purchaser | 2724 |
| the fee,
if any, negotiated under division
(J) of this section. If | 2725 |
| the
purchaser fails to pay the certificate
purchase price, plus | 2726 |
| any
applicable premium and less any applicable discount,
and any | 2727 |
| such
fee within the time periods required by this section, the | 2728 |
| county
treasurer shall retain the tax certificate and may attempt | 2729 |
| to sell
it at any
auction or negotiated sale conducted at a later | 2730 |
| date. | 2731 |
| (G) Upon receipt of the full payment of the certificate | 2732 |
|
purchase
price, plus any applicable premium and less any | 2733 |
|
applicable discount, and the
negotiated fee, if any, from the | 2734 |
|
purchaser, the county treasurer, or a
qualified trustee whom the | 2735 |
|
treasurer has engaged for such purpose, shall issue
the tax | 2736 |
|
certificate and record the tax certificate sale by marking on each | 2737 |
|
of
the tax certificates
sold or, if issued in book-entry form, on | 2738 |
|
the global tax certificate, and
marking into a tax certificate | 2739 |
|
register, the certificate purchase price, any
premium paid or | 2740 |
|
discount taken, the certificate rate of interest, the date the | 2741 |
|
certificates were sold, and the name and address of the | 2742 |
|
certificate
holder or, in the case of issuance of the tax | 2743 |
|
certificates in a book-entry
system, the name and address of
the | 2744 |
| nominee, which may be,
upon receipt of instructions from the | 2745 |
| purchaser,
the secured party
of the actual purchaser, or an agent | 2746 |
| or custodian for the
purchaser or secured party. The county | 2747 |
| treasurer also shall
transfer the tax
certificates to
the | 2748 |
| certificate holder and, upon
presentation to the treasurer of | 2749 |
| instructions
signed by the
certificate purchaser or purchasers, | 2750 |
| shall record in the tax
certificate register the name and address | 2751 |
| of any secured party of
the
certificate purchaser or purchasers | 2752 |
| having a security interest
in the tax
certificate. Upon the | 2753 |
| transfer of the tax
certificates, the county
treasurer shall
| 2754 |
|
apportion the part
of the cash proceeds
from the sale
representing | 2755 |
| taxes, penalties,
and interest among the several
taxing districts | 2756 |
| in the same
proportion that the amount of taxes levied
by each | 2757 |
| district
against the certificate parcels in the preceding
tax year | 2758 |
| bears to
the taxes levied by all such districts against
the | 2759 |
| certificate
parcels in the preceding tax year, and credit the
part | 2760 |
| of the
proceeds representing assessments and other charges
to the | 2761 |
| items
of
assessments and charges in the
order in which
those
items | 2762 |
| became due. If the cash proceeds from
the sale are not sufficient | 2763 |
| to
fully satisfy
the
items of outstanding
delinquent
taxes, | 2764 |
| assessments, penalties, interest, and charges on the
certificate | 2765 |
| parcels against which tax certificates were sold, the
county | 2766 |
|
treasurer shall credit the cash proceeds to such items pro
rata | 2767 |
based upon the
proportion that each such item of delinquent
taxes, | 2768 |
| assessments, penalties,
interest, and charges bears to the | 2769 |
|
aggregate of all such items, or by
any other
method that the | 2770 |
|
county treasurer, in the treasurer's sole discretion,
determines | 2771 |
|
is equitable. Upon completion of the sale of the tax
certificates, | 2772 |
|
the delinquent taxes, assessments, penalties, and
interest that | 2773 |
| make up the
certificate purchase price are
transferred, and the | 2774 |
| superior lien of the state
and its taxing
districts for those | 2775 |
| taxes, assessments, penalties, and interest
is
conveyed intact to | 2776 |
| the certificate holder or holders. | 2777 |
| (H) If a tax certificate is offered for sale under this | 2778 |
|
section
but is not sold, the county treasurer may strike the | 2779 |
|
corresponding certificate
parcel from the list of parcels selected | 2780 |
|
for tax certificate sales. The lien
for taxes, assessments, | 2781 |
|
charges, penalties, and interest against a parcel
stricken from | 2782 |
|
the list thereafter may be foreclosed in the manner prescribed
by | 2783 |
|
section 323.25, 5721.14, or 5721.18 of the Revised Code unless, | 2784 |
|
prior to the institution
of such proceedings against the parcel, | 2785 |
|
the county treasurer restores the
parcel to the list of parcels | 2786 |
|
selected for tax certificate sales. | 2787 |
| (I) Neither a certificate holder nor its secured party, if | 2788 |
|
any,
shall be liable for damages arising
from a violation of | 2789 |
|
sections 3737.87 to 3737.891 or Chapter 3704.,
3734., 3745., | 2790 |
| 3746.,
3750., 3751., 3752., 6109., or 6111. of the Revised Code, | 2791 |
| or a
rule
adopted or order, permit, license, variance, or plan | 2792 |
| approval
issued under any
of those chapters, that is or was | 2793 |
| committed by
another person in connection
with the parcel for | 2794 |
| which the tax
certificate is held. | 2795 |
(B) If, within sixty days after the date of the sale of a
tax | 2823 |
certificate, the county treasurer discovers that the
certificate | 2824 |
|
is void under division (A) of
this section, the holder
of the void | 2825 |
| certificate is entitled to
a refund of the certificate
purchase | 2826 |
| price, plus any applicable premium and
less any
applicable | 2827 |
| discount, and the fee charged
by the treasurer under
division (H) | 2828 |
| of section 5721.32 or division
(J) of section 5721.33
of the | 2829 |
Revised Code, as applicable. If the
county treasurer
discovers | 2830 |
aftermakes the discovery more than sixty days
fromafter the | 2831 |
certificate's date of
sale
that a tax certificate is
void, the | 2832 |
holder
of the void certificatealso is
entitled to
a
refund
equal | 2833 |
to the certificate purchase price, plus any
applicable premium and | 2834 |
less
any applicable discount, and the
treasurer's fee, plus | 2835 |
interest on the certificate purchase price,
plus any
applicable | 2836 |
premium and less any applicable discount,
at
the rate of five per | 2837 |
cent per year. The
holder of a void
certificate shall present the | 2838 |
certificate to the county
treasurer
to obtainshall notify the | 2839 |
| certificate holder that the certificate
is void and shall issue | 2840 |
the refund, and the. The county auditor
shall
issue a warrant for | 2841 |
the
amountportion of the refund
from the undivided tax
fund, | 2842 |
| which portion consists of the certificate purchase price, plus any | 2843 |
| applicable
premium and less any applicable discount; the portion | 2844 |
| of the refund consisting of interest and
the
treasurer's fee shall | 2845 |
| be paid from the tax certificate
administration fund. | 2846 |
| (C) With respect to a tax certificate sold under section | 2847 |
|
5721.32
of the Revised Code and found to be void under division | 2848 |
|
(A) of this section, in
addition to the remedies available under | 2849 |
|
division (B) of this
section, the county treasurer may, with the | 2850 |
|
approval of the certificate
holder, substitute for such tax | 2851 |
|
certificate or portion thereof another tax
certificate that has a | 2852 |
|
value equivalent to the value of the tax certificate
found to be | 2853 |
void. Whenever a tax certificate of such equivalent value is to
be | 2854 |
| substituted for a tax certificate that has been found to be
void, | 2855 |
| the
county treasurer shall provide written notice of the
intention | 2856 |
to substitute
sucha tax certificate of equivalent value
to any | 2857 |
| person required to be notified
under division (I) of
section | 2858 |
| 5721.32 of the Revised Code. | 2859 |
| (D) If an application for the exemption from and remission
of | 2860 |
|
taxes made under section 3735.67 or 5715.27 of the Revised
Code, | 2861 |
| or under any other section of the Revised Code under the | 2862 |
|
jurisdiction of the director of environmental protection,
is | 2863 |
|
granted for a parcel for which a tax certificate has
been sold, | 2864 |
|
the
county treasurer shall refund to the certificate holder, in | 2865 |
|
the manner provided in this section, the amount of any taxes | 2866 |
|
exempted or
remitted that were included in the certificate | 2867 |
|
purchase price. If the
whole amount of the taxes included in the | 2868 |
|
certificate purchase
price are exempted or remitted, the tax | 2869 |
|
certificate is void. If
all of the taxes that were included in
the | 2870 |
| certificate purchase
price are not exempted or remitted, the | 2871 |
|
county treasurer shall
adjust the tax certificate register to | 2872 |
|
reflect the remaining
amount of taxes that were not exempted or | 2873 |
|
remitted, and notify the
certificate holder of the adjustment in | 2874 |
|
writing. | 2875 |
| Sec. 5721.37. (A)(1) With respect to a tax certificate | 2876 |
|
purchased
under section 5721.32 of the Revised Code, or section | 2877 |
|
5721.42 of the
Revised Code in counties to which section 5721.32 | 2878 |
|
of the
Revised Code applies, at any time after one year
from the | 2879 |
|
date shown on the tax certificate as the date the tax certificate | 2880 |
|
was sold,
and not later than three years after that date,
the | 2881 |
|
certificate holder may file with
the county treasurer a request | 2882 |
|
for foreclosure, or a private attorney on behalf of the | 2883 |
|
certificate holder may file with the county treasurer a notice of | 2884 |
|
intent to foreclose, on a form prescribed by
the tax commissioner | 2885 |
|
and provided by the county treasurer,
provided the parcel has not | 2886 |
|
yet been redeemed under division
(A) or (C) of section 5721.38 of | 2887 |
|
the Revised
Code. | 2888 |
| (2) With respect to a tax certificate purchased under
section | 2889 |
| 5721.33
of the Revised Code, or section 5721.42 of the
Revised | 2890 |
| Code in counties
to which section
5721.33 of the Revised
Code | 2891 |
| applies, at any time
after one year from the date shown on
the tax | 2892 |
|
certificate as
the date the tax certificate was sold, and
not | 2893 |
| later than six years after
that date or any extension of that
date | 2894 |
| pursuant to division (C)(2)
of
section 5721.38 of the Revised | 2895 |
|
Code, a private attorney on behalf of the
certificate holder
may | 2896 |
|
file with the county treasurer a notice of intent to foreclose on | 2897 |
|
a form
prescribed by the tax commissioner and provided by the | 2898 |
|
county treasurer,
provided the parcel has not yet been redeemed | 2899 |
|
under division (A) or
(C) of section 5721.38 of the Revised Code. | 2900 |
(3) If(a) With respect to a tax certificate purchased under | 2901 |
| section 5721.32 of the Revised Code or section 5721.42 of the | 2902 |
| Revised Code in counties to which section 5721.32 of the Revised | 2903 |
Code applies, if, before the expiration of three years fromafter | 2904 |
| the date a
tax
certificate was sold, the owner of property for | 2905 |
| which the
certificate was sold
files a petition in bankruptcy,
the | 2906 |
| county
treasurer shall notify the certificate
holder by ordinary | 2907 |
first-class or certified mail of the filing of the
petition, and. | 2908 |
| If the owner of the property files a petition in bankruptcy,
the | 2909 |
| last day on which the certificate holder may
file a request
for | 2910 |
foreclosure shall beis the later of three years fromafter the | 2911 |
| date
the certificate was sold or one hundred eighty days after the | 2912 |
|
bankruptcy case
is closed; however, the three-year period being | 2913 |
| measured from the date that the certificate was sold is tolled | 2914 |
| while the owner of the property's petition in bankruptcy is being | 2915 |
| heard and remains open. | 2916 |
| (b) With respect to a tax certificate purchased under section | 2917 |
| 5721.33 of the Revised Code or section 5721.42 of the Revised Code | 2918 |
| in counties to which section 5721.33 of the Revised Code applies, | 2919 |
| if, before the expiration of six years after the date a tax | 2920 |
| certificate was sold, the owner of the property files a petition | 2921 |
| in bankruptcy, the county treasurer shall notify the certificate | 2922 |
| holder by ordinary first-class or certified mail of the filing of | 2923 |
| the petition. If the owner of the property files a petition in | 2924 |
| bankruptcy, the last day on which the certificate holder may file | 2925 |
| a notice of intent to foreclose is the later of six years after | 2926 |
| the date that the tax certificate was sold or one hundred eighty | 2927 |
| days after the bankruptcy case is closed; however, the six-year | 2928 |
| period being measured after the date that the certificate was sold | 2929 |
| is tolled while the owner of the property's petition in bankruptcy | 2930 |
| is being heard and remains open. | 2931 |
| (4) If, before the expiration of three years from the date a | 2932 |
|
tax
certificate was sold, the owner of property for which the | 2933 |
|
certificate was sold
applies for an exemption under
section | 2934 |
|
3735.67
or 5715.27 of the Revised Code or under any other section | 2935 |
|
of the Revised Code under the
jurisdiction of the director of | 2936 |
|
environmental protection, the county treasurer
shall notify the | 2937 |
|
certificate holder by
ordinary first-class or certified mail of | 2938 |
|
the filing of the
application. Once a determination has been made | 2939 |
|
on the exemption application, the county treasurer shall notify | 2940 |
|
the certificate holder of the determination by ordinary | 2941 |
|
first-class or certified mail. The last day on which the | 2942 |
|
certificate holder
may file a
request for foreclosure shall be the | 2943 |
|
later of three years from the date the
certificate was sold or | 2944 |
|
forty-five days after notice of the determination was
mailed. | 2945 |
| (C)(1) With respect to a certificate purchased under section | 2968 |
|
5721.32
or 5721.42 of the Revised Code, if the certificate parcel | 2969 |
|
has not been redeemed,
the county treasurer, within five days | 2970 |
|
after receiving a foreclosure
request, shall inform the county | 2971 |
|
prosecuting attorney that
the
parcel has not
been redeemed and | 2972 |
|
shall
provide a copy of the foreclosure request.
The county | 2973 |
|
treasurer also
shall send notice by ordinary mail to all | 2974 |
|
certificate holders other than
the certificate holder requesting | 2975 |
|
foreclosure that foreclosure has been
requested by a certificate | 2976 |
|
holder and that tax certificates for the
certificate parcel may be | 2977 |
|
redeemed. Within ninety days of
receiving the copy of the | 2978 |
|
foreclosure request, the prosecuting
attorney shall commence a | 2979 |
|
foreclosure
proceeding in the name of the county treasurer in the | 2980 |
|
manner provided under
section 323.25, 5721.14, or 5721.18 of the | 2981 |
|
Revised Code, to foreclose the lien
vested in the certificate | 2982 |
|
holder by the certificate. The prosecuting attorney
shall attach | 2983 |
|
to the complaint the county treasurer's
certification that the | 2984 |
|
parcel has not been redeemed. | 2985 |
| (2) With respect to a certificate purchased under section | 2986 |
| 5721.32, 5721.33, or 5721.42 of the
Revised Code, if
the | 2987 |
|
certificate parcel has not been redeemed
and a notice of intent to | 2988 |
|
foreclose has been filed, the county treasurer shall
provide | 2989 |
|
certification to the private attorney that the parcel has not been | 2990 |
|
redeemed. The county treasurer also
shall send notice by ordinary | 2991 |
|
mail to all certificate holders other than
the certificate holder | 2992 |
|
represented by the attorney that a notice of
intent to foreclose | 2993 |
|
has been filed and that tax certificates for the
certificate | 2994 |
|
parcel may be redeemed. After receipt of that
certification, the | 2995 |
|
private attorney may
commence a foreclosure proceeding in the name | 2996 |
|
of the certificate holder in the
manner provided under division | 2997 |
|
(F) of this section, to foreclose the
lien vested in the | 2998 |
|
certificate holder by the certificate. The private
attorney shall | 2999 |
|
attach to the complaint the county treasurer's certification
that | 3000 |
|
the parcel has not been redeemed. | 3001 |
| (E)(1) If, in the case of a certificate purchased under | 3013 |
|
section
5721.32
or 5721.42 of the Revised Code, the certificate | 3014 |
|
holder does not file with the
county
treasurer a request
for | 3015 |
|
foreclosure
or a notice of intent to foreclose along with the | 3016 |
|
required payment
within three years after the date
shown on the | 3017 |
|
tax certificate as the date the certificate was sold, and during | 3018 |
|
that period the parcel is not redeemed or foreclosed upon, the | 3019 |
certificate
holder's lien against the parcel for the
amount of | 3020 |
delinquent taxes,
assessments, penalties, interest, and charges | 3021 |
that make up the certificate
purchaseredemption price is | 3022 |
|
canceled. | 3023 |
| (2)(a) If, in the case of a certificate purchased under | 3024 |
|
section 5721.33 of
the
Revised Code,
the certificate holder does | 3025 |
|
not file with the county treasurer a notice of
intent to foreclose | 3026 |
|
with respect to a certificate parcel within six years
after the | 3027 |
|
date shown on the tax certificate as the date the certificate was | 3028 |
|
sold or any extension of that date pursuant to division (C)(2) of | 3029 |
|
section 5721.38 of the Revised Code, and during that period the | 3030 |
|
parcel is not
redeemed, the
certificate holder's lien against the | 3031 |
|
parcel for the amount of delinquent
taxes, assessments, penalties, | 3032 |
|
interest, and charges that make up the
certificate purchase price | 3033 |
|
is canceled, subject to division (E)(2)(b) of this
section. | 3034 |
| (b) In the case of any tax certificate purchased under | 3035 |
section
5721.33 of the Revised Code prior to
the effective date of | 3036 |
this
amendmentOctober10, 2000, the county
treasurer, upon | 3037 |
|
application by the certificate holder, may sell to the
certificate | 3038 |
|
holder a new certificate
extending the three-year
period | 3039 |
|
prescribed by division (E)(2) of this section, as that division | 3040 |
existed prior to
that effective dateOctober10,
2000, to six | 3041 |
|
years after the date shown on the
original certificate as the
date | 3042 |
|
it was sold or any extension of that date. The county treasurer | 3043 |
|
and the
certificate holder shall negotiate the premium, in cash, | 3044 |
|
to be paid for the
new certificate sold under this
section. If
the | 3045 |
| county treasurer and certificate holder do not negotiate a | 3046 |
|
mutually acceptable premium, the
county treasurer and certificate | 3047 |
|
holder may agree to engage a
person experienced in the valuation | 3048 |
|
of financial assets to
appraise a fair premium for the new | 3049 |
|
certificate. The certificate
holder has the option to purchase
the | 3050 |
| new certificate for the fair
premium so appraised. Not less
than | 3051 |
| one-half of the fee of the
person so engaged shall be paid by
the | 3052 |
| certificate holder
requesting the new certificate; the
remainder | 3053 |
| of the fee shall be
paid from the proceeds of the sale
of the new | 3054 |
| certificate. If the
certificate holder does not
purchase the new | 3055 |
| certificate for the
premium so appraised, the
certificate holder | 3056 |
| shall pay the entire
fee. The county treasurer
shall credit the | 3057 |
| remaining proceeds
from the sale to the items of
taxes, | 3058 |
| assessments, penalties,
interest, and charges in the order
in | 3059 |
| which they became due. | 3060 |
| A certificate issued under
this division vests in the | 3061 |
|
certificate holder
and its secured party, if any, the same rights, | 3062 |
|
interests,
privileges, and immunities as are vested by the | 3063 |
original
certificate under sections 5721.30 to
5721.415721.43 of | 3064 |
|
the Revised Code,
except that interest payable under division (B) | 3065 |
|
of section 5721.38 or
division (B) of section 5721.39 of the | 3066 |
|
Revised Code shall be subject to the
amendments to those divisions | 3067 |
|
by Sub.
H.B. 533 of the 123rd general assembly.
The
certificate | 3068 |
|
shall be issued in the same form as the form prescribed for the | 3069 |
|
original certificate issued except for any modifications | 3070 |
|
necessary, in the
county
treasurer's discretion, to reflect the | 3071 |
|
extension under this division of the certificate holder's lien to | 3072 |
|
six years after the date shown on the original certificate as the | 3073 |
|
date it was sold or any extension of that date. The certificate | 3074 |
|
holder may record a certificate issued under division
(E)(2)(b) of | 3075 |
|
this section or memorandum thereof as provided in division (B) of | 3076 |
|
section 5721.35 of the Revised Code, and the county recorder shall | 3077 |
|
index the certificate and record any subsequent cancellation of | 3078 |
|
the lien as
provided in that section. The sale of a certificate | 3079 |
|
extending the lien under division (E)(2)(b) of this
section does | 3080 |
|
not impair the right of redemption of the owner of record of the | 3081 |
|
certificate
parcel or of any other person entitled to
redeem the | 3082 |
|
property. | 3083 |
| (F) With respect to tax certificates purchased under section | 3084 |
| 5721.32, 5721.33, or 5721.42 of the Revised Code, upon the | 3085 |
|
delivery to the certificate holder by
the county
treasurer of the | 3086 |
|
certification provided for under division (C)(2) of
this section, | 3087 |
|
a private attorney may institute a foreclosure proceeding under | 3088 |
|
this division in the name of the certificate holder to foreclose | 3089 |
|
such holder's
lien, in any court with jurisdiction, unless the | 3090 |
|
certificate redemption price
is paid prior to the time a complaint | 3091 |
|
is filed. The attorney shall prosecute
the proceeding to final | 3092 |
|
judgment and satisfaction, whether through sale of the
property or | 3093 |
|
the vesting of title and possession in the certificate holder. | 3094 |
| It is sufficient, having been made a proper party to the | 3111 |
|
foreclosure
proceeding, for the certificate holder to allege in | 3112 |
|
such holder's complaint
that the tax certificate has been duly | 3113 |
|
purchased by the certificate holder,
that the certificate | 3114 |
|
redemption price appearing to be due and unpaid is due
and unpaid, | 3115 |
|
and that there is a lien against the property described in the tax | 3116 |
|
certificate, without setting forth in such holder's complaint any | 3117 |
|
other
special
matter relating to the foreclosure proceeding. The | 3118 |
|
prayer of the complaint
shall be that the court issue an order | 3119 |
|
that the property be sold by the
sheriff or, if the action is in | 3120 |
|
the municipal court, by the bailiff, in the
manner provided in | 3121 |
|
section 5721.19 of the Revised Code, unless the complaint includes | 3122 |
|
an
appraisal by an independent appraiser acceptable to the court | 3123 |
|
that the value
of the certificate parcel is less than the | 3124 |
|
certificate purchase price. In
that case, the prayer of the | 3125 |
|
complaint shall be that fee simple title to the
property be | 3126 |
|
transferred to and vested in the certificate holder free and clear | 3127 |
|
of all subordinate liens. | 3128 |
| In the foreclosure proceeding, the certificate holder may | 3129 |
|
join in one
action any number of tax certificates relating to the | 3130 |
|
same owner, provided
that all parties on each of the tax | 3131 |
|
certificates are identical as to name and
priority of interest. | 3132 |
|
However, the decree for each tax certificate shall be
rendered | 3133 |
|
separately and any proceeding may be severed, in the discretion of | 3134 |
|
the court, for the purpose of trial or appeal. The court shall | 3135 |
make such
order for the payment of all costs related directly or | 3136 |
|
indirectly to the
redemption of the tax certificate, including, | 3137 |
|
without limitation, attorney's
fees of the holder's attorney, as | 3138 |
|
is considered proper. The tax certificate
purchased by the | 3139 |
|
certificate holder is presumptive evidence in all courts and
in | 3140 |
|
all proceedings, including, without limitation, at the trial of | 3141 |
|
the
foreclosure action, of the amount and validity of the taxes, | 3142 |
|
assessments,
charges, penalties by the court and added to such | 3143 |
|
principal amount, and
interest appearing due and unpaid and of | 3144 |
|
their nonpayment. | 3145 |
| (C)(1) During the period beginning on the date a tax | 3196 |
|
certificate
is sold under section 5721.32 of the Revised Code and | 3197 |
|
ending one year from
that date, the county treasurer may enter | 3198 |
|
into a redemption payment plan
with the owner of record of the | 3199 |
|
certificate parcel or any other
person
entitled to
redeem that | 3200 |
|
parcel. The plan shall require the owner or
other person to pay | 3201 |
|
the certificate redemption price for the tax
certificate in | 3202 |
|
installments, with the final installment due no
later than one | 3203 |
|
year after the date the tax certificate is
sold. The
certificate | 3204 |
|
holder may at any time, by written notice to the county treasurer, | 3205 |
|
agree to
accept installments collected to the date of notice as | 3206 |
|
payment in full.
Receipt of such notice by the treasurer shall | 3207 |
|
constitute satisfaction of the
payment plan and redemption of the | 3208 |
|
tax certificate. | 3209 |
| (2) During the period beginning on the date a tax
certificate | 3210 |
| is sold
under section 5721.33 of the Revised Code and
ending on | 3211 |
| the date the decree is
rendered on
the foreclosure
proceeding | 3212 |
| under division (F) of section 5721.37
of the Revised
Code, the | 3213 |
| owner of record of the certificate parcel, or any
other
person | 3214 |
|
entitled to redeem that parcel, may enter into a redemption | 3215 |
|
payment plan with
the certificate holder and all secured parties | 3216 |
|
of the certificate holder. The
plan shall require the owner or | 3217 |
|
other person to
pay the certificate redemption price for the tax | 3218 |
|
certificate, an
administrative fee not to exceed one hundred | 3219 |
|
dollars per year, and the actual
fees and costs incurred, in | 3220 |
|
installments, with the final installment due no
later than three | 3221 |
|
years after the date the tax certificate is sold. The
certificate | 3222 |
|
holder shall give written notice of the plan to the applicable | 3223 |
|
county treasurer within sixty days after entering into the plan | 3224 |
|
and written
notice of default under the plan within ninety days | 3225 |
|
after the default. If
such a plan is entered into, the time
period | 3226 |
| for filing a notice of intent to
foreclose under section
5721.37 | 3227 |
| of the Revised Code is extended by the length of time the
plan is | 3228 |
| in effect and not in default. | 3229 |
| (D)(1) Immediately upon receipt of full payment
under | 3230 |
|
division (A) or (B) of this section, the
county treasurer shall | 3231 |
|
make an entry to that effect in the tax certificate
register and | 3232 |
|
notify each
certificate holder by certified mail, return receipt | 3233 |
|
requested,
that the parcel has been redeemed and the lien canceled | 3234 |
|
and that the tax
certificates may be redeemed. The
county | 3235 |
|
treasurer shall deposit into the tax certificate redemption fund | 3236 |
|
created in the county treasury an amount equal to the total of
the | 3237 |
|
certificate redemption prices, together with interest on the | 3238 |
|
certificate
purchase price for each tax certificate sold | 3239 |
|
respecting the parcel at the rate
of eighteen per cent per year | 3240 |
|
paid under division (B) of this section
for the period beginning | 3241 |
|
when the payment was submitted by the certificate
holder under | 3242 |
|
division (B) of section 5721.37 of the Revised Code and ending | 3243 |
|
when the
parcel was redeemed. The county treasurer shall | 3244 |
|
administer the
fund for the purpose of redeeming tax certificates. | 3245 |
|
Interest earned on the
fund shall be credited to the county | 3246 |
|
general fund. | 3247 |
| (2) If a redemption payment plan is entered into pursuant to | 3248 |
|
division (C)(1) of this section, the county treasurer
immediately | 3249 |
|
shall notify each certificate holder by certified
mail, return | 3250 |
|
receipt requested, of the terms of the plan. Installment
payments | 3251 |
|
made pursuant to the plan shall be deposited in the tax | 3252 |
|
certificate
redemption fund. Any overpayment of
the installments | 3253 |
|
shall be refunded to the person responsible for causing the | 3254 |
|
overpayment if the person applies for a refund under this section. | 3255 |
|
If the person responsible for causing the overpayment fails to | 3256 |
|
apply for
a refund under this section within five years from the | 3257 |
|
date the plan is
satisfied, an amount equal to the overpayment | 3258 |
|
shall be
deposited into the general fund of the county. | 3259 |
| (E) To redeem a tax certificate with respect to which
payment | 3272 |
| has
been made in full under division (A), (B), or
(C)(1)
of this | 3273 |
| section or division (B)(1) of section 5721.37 of the
Revised Code, | 3274 |
|
the
certificate holder shall present the tax
certificate to the | 3275 |
|
county treasurer, who shall prepare the
redemption information. | 3276 |
| Upon
presentation, the county auditor
shall draw
a warrant on the | 3277 |
| tax certificate redemption fund in the
amount of the
certificate | 3278 |
| redemption price and any applicable
interest payable at the
rate | 3279 |
| of eighteen per cent annually on the
certificate under division | 3280 |
|
(B) of this section. For a parcel that
was redeemed under
division | 3281 |
|
(B) of this section, the
certificate
holder who paid the amounts | 3282 |
| under division
(B) of section 5721.37
of the Revised
Code shall be | 3283 |
| reimbursed for
those amounts,
together with interest at the rate | 3284 |
| of eighteen
per cent per year
on the amount paid under division | 3285 |
|
(B)(1) of that section for the
period beginning when the payment | 3286 |
| was submitted by the certificate
holder
under division (B) of that | 3287 |
| section and
ending when the
parcel was redeemed. The treasurer | 3288 |
|
shall mark all copies of the
tax
certificate "redeemed" and return | 3289 |
| the certificate to the
certificate holder.
The canceled | 3290 |
| certificate shall serve as a
receipt evidencing
redemption of the | 3291 |
| tax certificate. If a
certificate holder fails to
redeem a tax | 3292 |
| certificate within five
years after notice is served
under | 3293 |
| division (D) of this section
that tax certificates may be | 3294 |
|
redeemed, an amount equal to
the
certificate redemption price and | 3295 |
| any applicable interest payable
at the
rate of eighteen per cent | 3296 |
| annually on the certificate under
division
(B) of this section | 3297 |
| shall be deposited into the general
fund of
the county. | 3298 |
| Sec. 5721.39. In its judgment of foreclosure rendered
with | 3299 |
| respect to actions filed pursuant to section 5721.37 of the | 3300 |
|
Revised Code, the court shall enter a finding
with respect to the | 3301 |
| certificate parcel of the amount of the sum of the
certificate | 3302 |
| redemption prices respecting all the tax certificates sold against | 3303 |
|
the parcel; interest on the certificate purchase
prices of those | 3304 |
| certificates at the rate of eighteen per cent per year for the | 3305 |
|
period beginning on the day on which the payment was submitted by | 3306 |
| the
certificate holder under division (B) of section 5721.37 of | 3307 |
| the Revised Code;
any
delinquent
taxes, assessments, penalties, | 3308 |
| interest, and charges on the parcel that are
not covered by a tax | 3309 |
| certificate; and fees and costs incurred in the
foreclosure | 3310 |
| proceeding instituted against the parcel, including, without | 3311 |
|
limitation, the fees and costs of the
prosecuting
attorney | 3312 |
| represented by the fee paid under division (B)(3) of
section | 3313 |
| 5721.37 of the Revised Code
or the fees and costs of the private | 3314 |
| attorney representing the certificate
holder, and charges paid or | 3315 |
| incurred in procuring title searches and
abstracting services | 3316 |
| relative to the subject premises. The court may order
the | 3317 |
certificate parcel to be sold,
without appraisal, in the manner | 3318 |
provided for in division (F) of
section 5721.37 of the Revised | 3319 |
Code and as set forth in the prayer of the
complaint, for not
less | 3320 |
| than the amount of its finding, or, in the event that the court | 3321 |
| finds
that the value of the certificate
parcel is less than the | 3322 |
| certificate purchase price, the court may, as prayed
for in the | 3323 |
| complaint, issue a decree transferring fee simple title free and | 3324 |
|
clear of all subordinate liens to the certificate holder. A decree | 3325 |
of the
court transferring such fee simple title to the certificate | 3326 |
| holder is forever
a bar to all rights of redemption with respect | 3327 |
| to the certificate parcel. | 3328 |
| (4) Interest on the amounts paid by the certificate holder | 3372 |
| under divisions (B)(2) and (3) of section 5721.37 of the Revised | 3373 |
| Code at the rate of eighteen per cent per year beginning on
the | 3374 |
| day on which the payment was submitted by the certificate holder | 3375 |
under
division (B)divisions (B)(2) and (3) of section 5721.37 of | 3376 |
| the Revised Code and ending on the day immediately preceding the | 3377 |
| day on which the proceeds of
the foreclosure sale are paid to the | 3378 |
| certificate holder pursuant to this section, except that such | 3379 |
interest shall not accrue for more than
threesix years after the | 3380 |
day the certificate was purchasedamounts were paid by the | 3381 |
| certificate holder under divisions (B)(2) and (3) of section | 3382 |
| 5721.37 of the Revised Code if the certificate
holder did not | 3383 |
submit that payment before the end of that three-yearsix-year | 3384 |
|
period; | 3385 |
| (C) Following the payment required by division
(B) of this | 3389 |
| section, any amount due for taxes,
assessments, charges, | 3390 |
| penalties, and interest not covered by the tax
certificate | 3391 |
| holder's payment under division (B)(2) of section 5721.37
of the | 3392 |
| Revised Code shall be paid, including all taxes, assessments, | 3393 |
| charges, penalties, and
interest payable subsequent to the entry | 3394 |
| of the finding and prior
to the transfer of the deed of the parcel | 3395 |
| to the purchaser
following confirmation of sale. If the proceeds | 3396 |
| available for
distribution pursuant to this division are | 3397 |
| insufficient to pay
the entire amount of those taxes, assessments, | 3398 |
| charges,
penalties, and interest, the proceeds shall be paid to | 3399 |
| each
claimant in proportion to the amount of those taxes, | 3400 |
| assessments,
charges, penalties, and interest that each is due, | 3401 |
| and those
taxes, assessments, charges, penalties, and interest are | 3402 |
| deemed
satisfied and shall be removed from the tax list and | 3403 |
| duplicate. | 3404 |
| Unless the parcel previously was redeemed pursuant to
section | 3407 |
| 5721.25 or 5721.38 of the Revised Code,
upon the filing of the | 3408 |
| entry of confirmation of sale, the title
to the parcel is | 3409 |
| incontestable in the purchaser and is free and
clear of all liens | 3410 |
| and encumbrances, except a federal tax lien,
notice of which lien | 3411 |
| is properly filed in accordance with section
317.09 of the Revised | 3412 |
| Code prior to the date that
a foreclosure proceeding is instituted | 3413 |
| pursuant to section
5721.37 of the Revised Code, and which lien | 3414 |
| was foreclosed in
accordance with 28 U.S.C.A. 2410(c), and except | 3415 |
| for the easements and
covenants of record running with the land or | 3416 |
| lots that were
created prior to the time the taxes or assessments, | 3417 |
| for the
nonpayment of which a tax certificate was issued and the | 3418 |
| parcel
sold at foreclosure, became due and payable. | 3419 |
| Sec. 5721.40. If any certificate parcel is twice
offered for | 3426 |
| sale pursuant to section 5721.39 of the
Revised Code and remains | 3427 |
| unsold for want of
bidders, the officer who conducted the sales | 3428 |
| shall certify to the
court that the parcel remains unsold after | 3429 |
| two sales. The
court, by entry, shall order the parcel forfeited | 3430 |
| to the
certificate holder who filed the request for foreclosure or | 3431 |
| notice of intent to foreclose under section 5721.37
of the Revised | 3432 |
| Code. The clerk of the court
shall certify copies of the court's | 3433 |
| order to the county
treasurer. The county treasurer shall notify | 3434 |
| the certificate
holder by ordinary and certified mail, return | 3435 |
| receipt requested,
that the parcel remains unsold, and shall | 3436 |
| instruct the certificate
holder of the manner in which the holder | 3437 |
| shall obtain the deed to
the parcel. The officer who conducted the | 3438 |
| sales shall prepare and record the
deed conveying title to the | 3439 |
| parcel to the certificate holder. | 3440 |
| Section 2. That existing sections 135.143, 135.22, 135.341, | 3477 |
| 135.35, 152.17, 154.01, 154.08, 175.09, 319.302, 321.24, 321.46, | 3478 |
| 323.121,
323.31,
4503.06, 5713.20, 5719.051, 5721.10, 5721.30, | 3479 |
| 5721.31, 5721.32,
5721.33,
5721.34, 5721.37, 5721.38, 5721.39, | 3480 |
| 5721.40, and 5721.41 of the Revised
Code are
hereby repealed. | 3481 |