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To amend sections 151.01, 151.02, 184.01, 184.02, and | 1 |
184.03 and to enact sections 122.013, 122.085, | 2 |
122.086, 122.087, 122.088, 122.089, 122.0810, | 3 |
122.0811, 122.0812, 122.0813, 122.0814, 122.0815, | 4 |
122.0816, 122.0817, 122.0818, 122.0819, 122.0820, | 5 |
151.10, 151.11, 184.10, 184.11, 184.111, 184.112, | 6 |
184.113, 184.114, 184.115, 184.116, 184.12, | 7 |
184.13, 184.14, 184.15, 184.151, 184.16, 184.17, | 8 |
184.171, 184.172, 184.173, 184.18, and 184.19 of | 9 |
the Revised Code, and to amend sections 203.99, | 10 |
203.99.33, 203.99.51, and 209.99 of Am. Sub. H.B. | 11 |
66 of the 126th General Assembly to implement | 12 |
certain provisions of Article VIII, Section 2p of | 13 |
the Ohio Constitution regarding the issuance of | 14 |
obligations to support research and development | 15 |
projects and the development of certain sites and | 16 |
facilities and to make an appropriation. | 17 |
Section 1. That sections 151.01, 151.02, 184.01, 184.02, and | 18 |
184.03 be amended and sections 122.013, 122.085, 122.086, 122.087, | 19 |
122.088, 122.089, 122.0810, 122.0811, 122.0812, 122.0813, | 20 |
122.0814, 122.0815, 122.0816, 122.0817, 122.0818, 122.0819, | 21 |
122.0820, 151.10, 151.11, 184.10, 184.11, 184.111, 184.112, | 22 |
184.113, 184.114, 184.115, 184.116, 184.12, 184.13, 184.14, | 23 |
184.15, 184.151, 184.16, 184.17, 184.171, 184.172, 184.173, | 24 |
184.18, and 184.19 of the Revised Code be enacted to read as | 25 |
follows: | 26 |
Sec. 122.013. The department of development shall post the | 27 |
following on the official internet site of the department: | 28 |
(A) Annual reports of the progress and status of eligible | 29 |
projects made as required under division (E) of section 122.0814 | 30 |
of the Revised Code; | 31 |
(B) The annual report made by the director of development | 32 |
under section 122.0817 of the Revised Code; | 33 |
(C) Reports made by the third frontier commission under | 34 |
section 184.15 of the Revised Code; | 35 |
(D) Information on all support awarded under section 184.11 | 36 |
of the Revised Code. | 37 |
Sec. 122.085. As used in sections 122.085 to 122.0820 of the | 38 |
Revised Code: | 39 |
(A)(1) "Allowable costs" includes costs related to the | 40 |
following: | 41 |
(a) Acquisition of land and buildings; | 42 |
(b) Building construction; | 43 |
(c) Making improvements to land and buildings, including the | 44 |
following: | 45 |
(i) Expanding, reconstructing, rehabilitating, remodeling, | 46 |
renovating, enlarging, modernizing, equipping, and furnishing | 47 |
buildings and structures, including leasehold improvements; | 48 |
(ii) Site preparation, including wetland mitigation. | 49 |
(d) Planning or determining feasibility or practicability; | 50 |
(e) Indemnity or surety bonds and premiums on insurance; | 51 |
(f) Remediation, in compliance with state and federal | 52 |
environmental protection laws, of environmentally contaminated | 53 |
property on which hazardous substances exist under conditions that | 54 |
have caused or would likely cause the property to be identified as | 55 |
contaminated by the Ohio environmental protection agency or the | 56 |
United States environmental protection agency; | 57 |
(g) Infrastructure improvements, including the following: | 58 |
(i) Demolition of buildings and other structures; | 59 |
(ii) Installation or relocation of water, storm water and | 60 |
sanitary sewer lines, water and waste water treatment facilities, | 61 |
pump stations, and water storage mechanisms and other similar | 62 |
equipment or facilities; | 63 |
(iii) Construction of roads, bridges, traffic control | 64 |
devices, and parking lots and facilities; | 65 |
(iv) Construction of utility infrastructure such as natural | 66 |
gas, electric, and telecommunications, including broadband and | 67 |
hookups; | 68 |
(v) Water and railway access improvements; | 69 |
(vi) Costs of professional services. | 70 |
(2) "Allowable costs" do not include administrative costs | 71 |
assessed by or fees paid to the recipient of a grant. | 72 |
(B) "District public works integrating committees" means | 73 |
those committees established under section 164.04 of the Revised | 74 |
Code. | 75 |
(C) "Eligible applicant" includes any political subdivision | 76 |
or non-profit economic development organization, and, with prior | 77 |
approval of the director of development, private, for-profit | 78 |
entities. "Eligible applicant" does not include public or private | 79 |
institutions of higher education. | 80 |
(D) "Eligible project" includes projects that, upon | 81 |
completion, will be sites and facilities primarily intended for | 82 |
commercial, industrial, or manufacturing use. "Eligible projects" | 83 |
do not include sites and facilities intended primarily for | 84 |
residential, retail, or government use. | 85 |
(E) "Professional services" includes legal, environmental, | 86 |
archeological, engineering, architectural, surveying, design, or | 87 |
other similar services performed in conjunction with an eligible | 88 |
project. "Professional services" also includes designs, plans, | 89 |
specifications, surveys, estimates of costs, and other work | 90 |
products. | 91 |
Sec. 122.086. There is hereby created the job ready site | 92 |
program to provide grants to pay for allowable costs of eligible | 93 |
applicants for eligible projects. The program shall be | 94 |
administered by the department of development pursuant to | 95 |
guidelines established for it by the director of development. All | 96 |
grants shall be awarded through one of the following two | 97 |
processes: | 98 |
(A) The annual competitive process under sections 122.087 to | 99 |
122.0811 and 122.0814 of the Revised Code; | 100 |
(B) The discretionary process under sections 122.0812, | 101 |
122.0813, and 122.0814 of the Revised Code. | 102 |
Sec. 122.087. The director of development shall establish an | 103 |
annual competitive process for making grants described in section | 104 |
122.086 of the Revised Code. At least two-thirds of the amounts | 105 |
that may be distributed as grants each year under the job ready | 106 |
site program shall be distributed under the annual competitive | 107 |
process. | 108 |
Sec. 122.088. In order to be considered for a grant under | 109 |
the annual competitive process, an eligible applicant shall fill | 110 |
out an application provided by the department of development and | 111 |
shall file it with the district public works integrating committee | 112 |
with jurisdiction over the area in which the eligible project is | 113 |
located. | 114 |
Sec. 122.089. An eligible applicant shall provide all of the | 115 |
following on the annual competitive process application: | 116 |
(A) Contact information for the eligible applicant; | 117 |
(B) A legal description of the property for which the grant | 118 |
is requested; | 119 |
(C) A summary of the proposed eligible project that includes | 120 |
all of the following: | 121 |
(1) A general description of the eligible project, including | 122 |
individuals, organizations, or other entities that will play a | 123 |
critical role in the implementation of the project; | 124 |
(2) An explanation of the need for the eligible project, and | 125 |
the predicted economic impact; | 126 |
(3) An explanation of the need for a grant from the job ready | 127 |
site program; | 128 |
(4) The commitments required pursuant to division (A)(3) of | 129 |
section 122.0815 of the Revised Code. | 130 |
(D) A detailed summary of costs for the eligible project, | 131 |
including supporting documents for cost estimates; | 132 |
(E) Sources of funding for the eligible project, including | 133 |
documentation verifying the status of those funds; | 134 |
(F) Summary results of preliminary engineering studies and | 135 |
environmental reviews, if any have been conducted; | 136 |
(G) A comprehensive marketing plan detailing how the eligible | 137 |
project will be marketed upon completion, if appropriate; | 138 |
(H) Copies of resolutions or ordinances related to the | 139 |
eligible project, including resolutions or ordinances adopted by | 140 |
the political subdivision with jurisdiction over the geographic | 141 |
area in which the eligible project is located; | 142 |
(I) Any other information the director requests on the | 143 |
application form. | 144 |
Sec. 122.0810. (A) Each application for a grant pursuant to | 145 |
the annual competitive process received by a district public works | 146 |
integrating committee shall be evaluated by the executive | 147 |
committee of the district committee. In conducting the evaluation, | 148 |
the executive committee shall determine whether the application | 149 |
for the proposed eligible project is complete and whether the | 150 |
project meets the requirements of section 122.0815 of the Revised | 151 |
Code. If the application is complete and the eligible project | 152 |
meets the requirements of section 122.0815 of the Revised Code, | 153 |
the executive committee shall prioritize the eligible project | 154 |
pursuant to section 122.0816 of the Revised Code and pursuant to | 155 |
local priorities, as those priorities are determined by the | 156 |
executive committee, with all other eligible projects with | 157 |
complete applications that meet the requirements of section | 158 |
122.0815 of the Revised Code. If the application is incomplete or | 159 |
the project does not meet the requirements of section 122.0815 of | 160 |
the Revised Code, the executive committee shall notify the | 161 |
applicant of the deficiencies and the period of time the applicant | 162 |
has to correct the deficiencies and submit the corrections to the | 163 |
executive committee. Failure to correct deficiencies within the | 164 |
time designated by the executive committee shall disqualify the | 165 |
project from consideration for a grant during the annual | 166 |
competitive process for that year. | 167 |
The executive committee, by the affirmative vote of a | 168 |
majority of all its members, shall select up to three eligible | 169 |
projects from the projects it has prioritized each year pursuant | 170 |
to the annual competitive process. The executive committee shall | 171 |
forward the applications and any accompanying information for each | 172 |
of the selected eligible projects to the department of development | 173 |
in the time and manner required by the guidelines governing the | 174 |
job ready site program. | 175 |
(B) For a district public works integrating committee that | 176 |
does not have an executive committee, the full committee shall | 177 |
perform the functions assigned to the executive committee under | 178 |
section 122.0816 of the Revised Code and division (A) of this | 179 |
section. | 180 |
(C) An executive committee, or a district committee that does | 181 |
not have an executive committee, may appoint a working group of | 182 |
committee members and staff to perform the functions of those | 183 |
committees as provided in this section. | 184 |
Sec. 122.0811. The department of development shall evaluate | 185 |
each eligible project selected pursuant to section 122.0810 of the | 186 |
Revised Code to determine whether the application for the proposed | 187 |
eligible project is complete and whether it meets the requirements | 188 |
of section 122.0815 of the Revised Code. If the application is | 189 |
complete and the project meets the requirements of section | 190 |
122.0815 of the Revised Code, the department shall notify the | 191 |
eligible applicant that the application is complete and shall | 192 |
prioritize the eligible project pursuant to section 122.0816 of | 193 |
the Revised Code with all other eligible projects with complete | 194 |
applications that meet the requirements. If the application is | 195 |
incomplete or the project does not meet the requirements of | 196 |
section 122.0815 of the Revised Code, the department shall notify | 197 |
the applicant of the deficiencies and the period of time the | 198 |
applicant has to correct the deficiencies and submit the | 199 |
corrections to the department. Failure to correct deficiencies | 200 |
within the time designated by the department shall disqualify the | 201 |
project from consideration for a grant during the annual | 202 |
competitive process for that year. | 203 |
The director, on completion of the evaluations and | 204 |
prioritization, shall make a recommendation to the controlling | 205 |
board asking for approval to make grants for the eligible projects | 206 |
selected by the director. The director shall take into | 207 |
consideration the geographic diversity of awards when making the | 208 |
selection of eligible projects to receive grants. | 209 |
Sec. 122.0812. The director of development shall establish a | 210 |
discretionary process that permits the director to make grants | 211 |
described in section 122.086 of the Revised Code in situations | 212 |
that include those in which the timing of a proposed eligible | 213 |
project is such that the annual competitive process is not | 214 |
suitable. The director, as part of the guidelines established for | 215 |
the job ready site program, shall establish all the procedures and | 216 |
requirements governing application for the discretionary grants. | 217 |
Sec. 122.0813. On receipt of an application for a | 218 |
discretionary grant for an eligible project, the director of | 219 |
development shall evaluate it to determine whether the application | 220 |
for the proposed eligible project is complete and whether the | 221 |
eligible project meets the requirements of section 122.0815 of the | 222 |
Revised Code. If the application is complete and the project meets | 223 |
the requirements of section 122.0815 of the Revised Code, the | 224 |
director shall make a recommendation to the controlling board | 225 |
asking for approval to make the discretionary grant for the | 226 |
eligible project. If the application is incomplete or the project | 227 |
does not meet the requirements of section 122.0815 of the Revised | 228 |
Code, the department shall notify the applicant of the | 229 |
deficiencies and work with the applicant to correct the | 230 |
deficiencies. If the deficiencies are corrected, the director | 231 |
shall make a recommendation to the controlling board asking for | 232 |
approval to make the discretionary grant for the eligible project. | 233 |
Sec. 122.0814. If the controlling board approves a grant for | 234 |
an eligible project pursuant to the annual competitive process or | 235 |
the discretionary process, the director of development shall enter | 236 |
into an agreement with the eligible applicant to provide the grant | 237 |
for the project. The agreement shall be executed prior to the | 238 |
payment or disbursement of any funds under the grant and shall | 239 |
contain the following provisions: | 240 |
(A) A designation of a single officer or employee of the | 241 |
eligible applicant who will serve as the manager of the eligible | 242 |
project; | 243 |
(B) A detailed description of the scope of the work required | 244 |
under the eligible project, including anticipated sources and uses | 245 |
of funds; | 246 |
(C) A designation of the percentage of the estimated total | 247 |
cost of the project for which the grant will provide funding, | 248 |
which shall not exceed seventy-five per cent of the cost; | 249 |
(D) Provisions for the recovery by the department of grant | 250 |
funds for failure to meet the terms of the agreement; | 251 |
(E) A requirement that annual reports be made by the eligible | 252 |
applicant on the progress of the eligible project and any other | 253 |
information about the status of the project as required by the | 254 |
guidelines established for the job ready site program; | 255 |
(F) Any other provisions the director determines necessary. | 256 |
Sec. 122.0815. (A) A project shall meet the following | 257 |
requirements in order to be considered for a grant under the | 258 |
annual competitive process: | 259 |
(1) The application for the grant is made by an eligible | 260 |
applicant. | 261 |
(2) The project for which the application is made is an | 262 |
eligible project. | 263 |
(3) The eligible applicant commits to all the following: | 264 |
(a) To use the grant to pay only allowable costs for the | 265 |
eligible project; | 266 |
(b) Not to use the grant to fund more than seventy-five per | 267 |
cent of the total cost of the eligible project; | 268 |
(c) Not to use more than ten per cent of the grant amount to | 269 |
pay the costs of professional services under the eligible project. | 270 |
(4) The grant amount requested does not exceed five million | 271 |
dollars. | 272 |
(5) The eligible applicant and the eligible project comply | 273 |
with any other criteria the director of development determines is | 274 |
necessary. | 275 |
(B) A project shall meet the requirements described in | 276 |
divisions (A)(1) to (4) of this section in order to be considered | 277 |
for a grant under the discretionary process. | 278 |
Sec. 122.0816. The department of development and the | 279 |
executive committees of district public works integrating | 280 |
committees shall apply the following factors to eligible projects | 281 |
under the annual competitive process to determine a priority order | 282 |
for the eligible projects subject to that process: | 283 |
(A) The potential economic impact of the eligible project; | 284 |
(B) The potential impact of the eligible project on economic | 285 |
distress; | 286 |
(C) The amount of local, federal, and private funding | 287 |
available for the eligible project; | 288 |
(D) The demonstrated need for the eligible project; | 289 |
(E) The strength of the eligible project's marketing plan, if | 290 |
appropriate; | 291 |
(F) The level of financial need; | 292 |
(G) Any other factor the director of development determines | 293 |
should be considered. | 294 |
Sec. 122.0817. In accordance with the guidelines established | 295 |
to govern the job ready site program, the director of development | 296 |
shall publish an annual report that includes the following: | 297 |
(A) Details on each grant awarded pursuant to the program; | 298 |
(B) The status of projects funded in previous years; | 299 |
(C) The amount of grants awarded for projects in economically | 300 |
distressed areas and, to the extent possible, the impact of those | 301 |
grants in those areas. | 302 |
Sec. 122.0818. Eligible projects that receive a grant | 303 |
pursuant to the job ready site program are public improvements | 304 |
pursuant to section 4115.03 of the Revised Code and shall be | 305 |
subject to the prevailing wage requirements of section 4115.04 of | 306 |
the Revised Code. | 307 |
Sec. 122.0819. The guidelines established to govern the job | 308 |
ready site program may provide for recovery of the costs, or a | 309 |
portion thereof, incurred by district public works integrating | 310 |
committees and executive committees in conducting their duties | 311 |
under the program. | 312 |
Sec. 122.0820. The job ready site development fund is hereby | 313 |
created in the state treasury. The fund shall consist of the net | 314 |
proceeds of obligations issued and sold by the issuing authority | 315 |
pursuant to sections 151.01 and 151.11 of the Revised Code. | 316 |
Investment earnings of the fund shall be credited to the fund. | 317 |
Moneys in the fund shall be used to make grants for eligible | 318 |
projects pursuant to sections 122.085 to 122.0820 of the Revised | 319 |
Code and associated administrative expenses. | 320 |
Sec. 151.01. (A) As used in sections 151.01 to
| 321 |
and 151.40 of the Revised Code and in the applicable bond | 322 |
proceedings unless otherwise provided: | 323 |
(1) "Bond proceedings" means the resolutions, orders, | 324 |
agreements, and credit enhancement facilities, and amendments and | 325 |
supplements to them, or any one or more or combination of them, | 326 |
authorizing, awarding, or providing for the terms and conditions | 327 |
applicable to or providing for the security or liquidity of, the | 328 |
particular obligations, and the provisions contained in those | 329 |
obligations. | 330 |
(2) "Bond service fund" means the respective bond service | 331 |
fund created by section 151.03, 151.04, 151.05, 151.06, 151.07, | 332 |
151.08, 151.09, 151.10, 151.11, or 151.40 of the Revised Code, and | 333 |
any accounts in that fund, including all moneys and investments, | 334 |
and earnings from investments, credited and to be credited to that | 335 |
fund and accounts as and to the extent provided in the applicable | 336 |
bond proceedings. | 337 |
(3) "Capital facilities" means capital facilities or projects | 338 |
as referred to in section 151.03, 151.04, 151.05, 151.06, 151.07, | 339 |
151.08, 151.09, 151.10, 151.11, or 151.40 of the Revised Code. | 340 |
(4) "Costs of capital facilities" means the costs of | 341 |
acquiring, constructing, reconstructing, rehabilitating, | 342 |
remodeling, renovating, enlarging, improving, equipping, or | 343 |
furnishing capital facilities, and of the financing of those | 344 |
costs. "Costs of capital facilities" includes, without limitation, | 345 |
and in addition to costs referred to in section 151.03, 151.04, | 346 |
151.05, 151.06, 151.07, 151.08, 151.09, 151.10, 151.11, or 151.40 | 347 |
of the Revised Code, the cost of clearance and preparation of the | 348 |
site and of any land to be used in connection with capital | 349 |
facilities, the cost of any indemnity and surety bonds and | 350 |
premiums on insurance, all related direct administrative expenses | 351 |
and allocable portions of direct costs of the issuing authority, | 352 |
costs of engineering and architectural services, designs, plans, | 353 |
specifications, surveys, and estimates of cost, financing costs, | 354 |
interest on obligations from their date to the time when interest | 355 |
is to be paid from sources other than proceeds of obligations, | 356 |
amounts necessary to establish any reserves as required by the | 357 |
bond proceedings, the reimbursement of all moneys advanced or | 358 |
applied by or borrowed from any person or governmental agency or | 359 |
entity for the payment of any item of costs of capital facilities, | 360 |
and all other expenses necessary or incident to planning or | 361 |
determining feasibility or practicability with respect to capital | 362 |
facilities, and such other expenses as may be necessary or | 363 |
incident to the acquisition, construction, reconstruction, | 364 |
rehabilitation, remodeling, renovation, enlargement, improvement, | 365 |
equipment, and furnishing of capital facilities, the financing of | 366 |
those costs, and the placing of the capital facilities in use and | 367 |
operation, including any one, part of, or combination of those | 368 |
classes of costs and expenses. For purposes of sections 122.085 to | 369 |
122.0820 of the Revised Code, "costs of capital facilities" | 370 |
includes "allowable costs" as defined in section 122.085 of the | 371 |
Revised Code. | 372 |
(5) "Credit enhancement facilities," "financing costs," and | 373 |
"interest" or "interest equivalent" have the same meanings as in | 374 |
section 133.01 of the Revised Code. | 375 |
(6) "Debt service" means principal, including any mandatory | 376 |
sinking fund or redemption requirements for retirement of | 377 |
obligations, interest and other accreted amounts, interest | 378 |
equivalent, and any redemption premium, payable on obligations. If | 379 |
not prohibited by the applicable bond proceedings, debt service | 380 |
may include costs relating to credit enhancement facilities that | 381 |
are related to and represent, or are intended to provide a source | 382 |
of payment of or limitation on, other debt service. | 383 |
(7) "Issuing authority" means the Ohio public facilities | 384 |
commission created in section 151.02 of the Revised Code for | 385 |
obligations issued under section 151.03, 151.04, 151.05, 151.07, | 386 |
151.08, | 387 |
treasurer of state, or the officer who by law performs the | 388 |
functions of that office, for obligations issued under section | 389 |
151.06 or 151.40 of the Revised Code. | 390 |
(8) "Net proceeds" means amounts received from the sale of | 391 |
obligations, excluding amounts used to refund or retire | 392 |
outstanding obligations, amounts required to be deposited into | 393 |
special funds pursuant to the applicable bond proceedings, and | 394 |
amounts to be used to pay financing costs. | 395 |
(9) "Obligations" means bonds, notes, or other evidences of | 396 |
obligation of the state, including any appertaining interest | 397 |
coupons, issued under Section 2k, 2l, 2m, 2n, 2o, 2p, or 15 of | 398 |
Article VIII, Ohio Constitution, and pursuant to sections 151.01 | 399 |
to
| 400 |
assembly authorization. | 401 |
(10) "Principal amount" means the aggregate of the amount as | 402 |
stated or provided for in the applicable bond proceedings as the | 403 |
amount on which interest or interest equivalent on particular | 404 |
obligations is initially calculated. Principal amount does not | 405 |
include any premium paid to the state by the initial purchaser of | 406 |
the obligations. "Principal amount" of a capital appreciation | 407 |
bond, as defined in division (C) of section 3334.01 of the Revised | 408 |
Code, means its face amount, and "principal amount" of a zero | 409 |
coupon bond, as defined in division (J) of section 3334.01 of the | 410 |
Revised Code, means the discounted offering price at which the | 411 |
bond is initially sold to the public, disregarding any purchase | 412 |
price discount to the original purchaser, if provided for pursuant | 413 |
to the bond proceedings. | 414 |
(11) "Special funds" or "funds," unless the context indicates | 415 |
otherwise, means the bond service fund, and any other funds, | 416 |
including any reserve funds, created under the bond proceedings | 417 |
and stated to be special funds in those proceedings, including | 418 |
moneys and investments, and earnings from investments, credited | 419 |
and to be credited to the particular fund. Special funds do not | 420 |
include the school building program assistance fund created by | 421 |
section 3318.25 of the Revised Code, the higher education | 422 |
improvement fund created by division (F) of section 154.21 of the | 423 |
Revised Code, the highway capital improvement bond fund created by | 424 |
section 5528.53 of the Revised Code, the state parks and natural | 425 |
resources fund created by section 1557.02 of the Revised Code, the | 426 |
coal research and development fund created by section 1555.15 of | 427 |
the Revised Code, the clean Ohio conservation fund created by | 428 |
section 164.27 of the Revised Code, the clean Ohio revitalization | 429 |
fund created by section 122.658 of the Revised Code, the job ready | 430 |
site development fund created by section 122.0820 of the Revised | 431 |
Code, the third frontier research and development fund created by | 432 |
section 184.19 of the Revised Code, or other funds created by the | 433 |
bond proceedings that are not stated by those proceedings to be | 434 |
special funds. | 435 |
(B) Subject to Section 2l, 2m, 2n, 2o, 2p, or 15, and Section | 436 |
17, of Article VIII, Ohio Constitution, the state, by the issuing | 437 |
authority, is authorized to issue and sell, as provided in | 438 |
sections 151.03 to
| 439 |
and in respective aggregate principal amounts as from time to time | 440 |
provided or authorized by the general assembly, general | 441 |
obligations of this state for the purpose of paying costs of | 442 |
capital facilities or projects identified by or pursuant to | 443 |
general assembly action. | 444 |
(C) Each issue of obligations shall be authorized by | 445 |
resolution or order of the issuing authority. The bond proceedings | 446 |
shall provide for or authorize the manner for determining the | 447 |
principal amount or maximum principal amount of obligations of an | 448 |
issue, the principal maturity or maturities, the interest rate or | 449 |
rates, the date of and the dates of payment of interest on the | 450 |
obligations, their denominations, and the place or places of | 451 |
payment of debt service which may be within or outside the state. | 452 |
Unless otherwise provided by law, the latest principal maturity | 453 |
may not be later than the earlier of the thirty-first day of | 454 |
December of the twenty-fifth calendar year after the year of | 455 |
issuance of the particular obligations or of the twenty-fifth | 456 |
calendar year after the year in which the original obligation to | 457 |
pay was issued or entered into. Sections 9.96, 9.98, 9.981, 9.982, | 458 |
and 9.983 of the Revised Code apply to obligations. The purpose of | 459 |
the obligations may be stated in the bond proceedings in general | 460 |
terms, such as, as applicable, "financing or assisting in the | 461 |
financing of projects as provided in Section 2l of Article VIII, | 462 |
Ohio Constitution," "financing or assisting in the financing of | 463 |
highway capital improvement projects as provided in Section 2m of | 464 |
Article VIII, Ohio Constitution," "paying costs of capital | 465 |
facilities for a system of common schools throughout the state as | 466 |
authorized by Section 2n of Article VIII, Ohio Constitution," | 467 |
"paying costs of capital facilities for state-supported and | 468 |
state-assisted institutions of higher education as authorized by | 469 |
Section 2n of Article VIII, Ohio Constitution," "paying costs of | 470 |
coal research and development as authorized by Section 15 of | 471 |
Article VIII, Ohio Constitution," "financing or assisting in the | 472 |
financing of local subdivision capital improvement projects as | 473 |
authorized by Section 2m of Article VIII, Ohio Constitution," | 474 |
"paying costs of conservation projects as authorized by Section 2o | 475 |
of Article VIII, Ohio Constitution,"
| 476 |
revitalization projects as authorized by Section 2o of Article | 477 |
VIII, Ohio Constitution," "paying costs of preparing sites for | 478 |
industry, commerce, distribution, or research and development as | 479 |
authorized by Section 2p of Article VIII, Ohio Constitution," or | 480 |
"paying costs of research and development as authorized by Section | 481 |
2p of Article VIII, Ohio Constitution." | 482 |
(D) The issuing authority may appoint or provide for the | 483 |
appointment of paying agents, bond registrars, securities | 484 |
depositories, clearing corporations, and transfer agents, and may | 485 |
without need for any other approval retain or contract for the | 486 |
services of underwriters, investment bankers, financial advisers, | 487 |
accounting experts, marketing, remarketing, indexing, and | 488 |
administrative agents, other consultants, and independent | 489 |
contractors, including printing services, as are necessary in the | 490 |
judgment of the issuing authority to carry out the issuing | 491 |
authority's functions under this chapter. When the issuing | 492 |
authority is the Ohio public facilities commission, the issuing | 493 |
authority also may without need for any other approval retain or | 494 |
contract for the services of attorneys and other professionals for | 495 |
that purpose. Financing costs are payable, as may be provided in | 496 |
the bond proceedings, from the proceeds of the obligations, from | 497 |
special funds, or from other moneys available for the purpose. | 498 |
(E) The bond proceedings may contain additional provisions | 499 |
customary or appropriate to the financing or to the obligations or | 500 |
to particular obligations including, but not limited to, | 501 |
provisions for: | 502 |
(1) The redemption of obligations prior to maturity at the | 503 |
option of the state or of the holder or upon the occurrence of | 504 |
certain conditions, and at particular price or prices and under | 505 |
particular terms and conditions; | 506 |
(2) The form of and other terms of the obligations; | 507 |
(3) The establishment, deposit, investment, and application | 508 |
of special funds, and the safeguarding of moneys on hand or on | 509 |
deposit, in lieu of the applicability of provisions of Chapter | 510 |
131. or 135. of the Revised Code, but subject to any special | 511 |
provisions of
sections 151.01 to
| 512 |
Revised Code with respect to the application of particular funds | 513 |
or moneys. Any financial institution that acts as a depository of | 514 |
any moneys in special funds or other funds under the bond | 515 |
proceedings may furnish indemnifying bonds or pledge securities as | 516 |
required by the issuing authority. | 517 |
(4) Any or every provision of the bond proceedings being | 518 |
binding upon the issuing authority and upon such governmental | 519 |
agency or entity, officer, board, commission, authority, agency, | 520 |
department, institution, district, or other person or body as may | 521 |
from time to time be authorized to take actions as may be | 522 |
necessary to perform all or any part of the duty required by the | 523 |
provision; | 524 |
(5) The maintenance of each pledge or instrument comprising | 525 |
part of the bond proceedings until the state has fully paid or | 526 |
provided for the payment of the debt service on the obligations or | 527 |
met other stated conditions; | 528 |
(6) In the event of default in any payments required to be | 529 |
made by the bond proceedings, or by any other agreement of the | 530 |
issuing authority made as part of a contract under which the | 531 |
obligations were issued or secured, including a credit enhancement | 532 |
facility, the enforcement of those payments by mandamus, a suit in | 533 |
equity, an action at law, or any combination of those remedial | 534 |
actions; | 535 |
(7) The rights and remedies of the holders or owners of | 536 |
obligations or of book-entry interests in them, and of third | 537 |
parties under any credit enhancement facility, and provisions for | 538 |
protecting and enforcing those rights and remedies, including | 539 |
limitations on rights of individual holders or owners; | 540 |
(8) The replacement of mutilated, destroyed, lost, or stolen | 541 |
obligations; | 542 |
(9) The funding, refunding, or advance refunding, or other | 543 |
provision for payment, of obligations that will then no longer be | 544 |
outstanding for purposes of this section or of the applicable bond | 545 |
proceedings; | 546 |
(10) Amendment of the bond proceedings; | 547 |
(11) Any other or additional agreements with the owners of | 548 |
obligations, and such other provisions as the issuing authority | 549 |
determines, including limitations, conditions, or qualifications, | 550 |
relating to any of the foregoing. | 551 |
(F) The great seal of the state or a facsimile of it may be | 552 |
affixed to or printed on the obligations. The obligations | 553 |
requiring execution by or for the issuing authority shall be | 554 |
signed as provided in the bond proceedings. Any obligations may be | 555 |
signed by the individual who on the date of execution is the | 556 |
authorized signer although on the date of these obligations that | 557 |
individual is not an authorized signer. In case the individual | 558 |
whose signature or facsimile signature appears on any obligation | 559 |
ceases to be an authorized signer before delivery of the | 560 |
obligation, that signature or facsimile is nevertheless valid and | 561 |
sufficient for all purposes as if that individual had remained the | 562 |
authorized signer until delivery. | 563 |
(G) Obligations are investment securities under Chapter 1308. | 564 |
of the Revised Code. Obligations may be issued in bearer or in | 565 |
registered form, registrable as to principal alone or as to both | 566 |
principal and interest, or both, or in certificated or | 567 |
uncertificated form, as the issuing authority determines. | 568 |
Provision may be made for the exchange, conversion, or transfer of | 569 |
obligations and for reasonable charges for registration, exchange, | 570 |
conversion, and transfer. Pending preparation of final | 571 |
obligations, the issuing authority may provide for the issuance of | 572 |
interim instruments to be exchanged for the final obligations. | 573 |
(H) Obligations may be sold at public sale or at private | 574 |
sale, in such manner, and at such price at, above or below par, | 575 |
all as determined by and provided by the issuing authority in the | 576 |
bond proceedings. | 577 |
(I) Except to the extent that rights are restricted by the | 578 |
bond proceedings, any owner of obligations or provider of a credit | 579 |
enhancement facility may by any suitable form of legal proceedings | 580 |
protect and enforce any rights relating to obligations or that | 581 |
facility under the laws of this state or granted by the bond | 582 |
proceedings. Those rights include the right to compel the | 583 |
performance of all applicable duties of the issuing authority and | 584 |
the state. Each duty of the issuing authority and that authority's | 585 |
officers, staff, and employees, and of each state entity or | 586 |
agency, or using district or using institution, and its officers, | 587 |
members, staff, or employees, undertaken pursuant to the bond | 588 |
proceedings, is hereby established as a duty of the entity or | 589 |
individual having authority to perform that duty, specifically | 590 |
enjoined by law and resulting from an office, trust, or station | 591 |
within the meaning of section 2731.01 of the Revised Code. The | 592 |
individuals who are from time to time the issuing authority, | 593 |
members or officers of the issuing authority, or those members' | 594 |
designees acting pursuant to
section | 595 |
Code, or the issuing authority's officers, staff, or employees, | 596 |
are not liable in their personal capacities on any obligations or | 597 |
otherwise under the bond proceedings. | 598 |
(J)(1) Subject to Section 2k, 2l, 2m, 2n, 2o, 2p, or 15, and | 599 |
Section 17, of Article VIII, Ohio Constitution and sections 151.01 | 600 |
to
| 601 |
authority may, in addition to the authority referred to in | 602 |
division (B) of this section, authorize and provide for the | 603 |
issuance of: | 604 |
(a) Obligations in the form of bond anticipation notes, and | 605 |
may provide for the renewal of those notes from time to time by | 606 |
the issuance of new notes. The holders of notes or appertaining | 607 |
interest coupons have the right to have debt service on those | 608 |
notes paid solely from the moneys and special funds that are or | 609 |
may be pledged to that payment, including the proceeds of bonds or | 610 |
renewal notes or both, as the issuing authority provides in the | 611 |
bond proceedings authorizing the notes. Notes may be additionally | 612 |
secured by covenants of the issuing authority to the effect that | 613 |
the issuing authority and the state will do all things necessary | 614 |
for the issuance of bonds or renewal notes in such principal | 615 |
amount and upon such terms as may be necessary to provide moneys | 616 |
to pay when due the debt service on the notes, and apply their | 617 |
proceeds to the extent necessary, to make full and timely payment | 618 |
of debt service on the notes as provided in the applicable bond | 619 |
proceedings. In the bond proceedings authorizing the issuance of | 620 |
bond anticipation notes the issuing authority shall set forth for | 621 |
the bonds anticipated an estimated schedule of annual principal | 622 |
payments the latest of which shall be no later than provided in | 623 |
division (C) of this section. While the notes are outstanding | 624 |
there shall be deposited, as shall be provided in the bond | 625 |
proceedings for those notes, from the sources authorized for | 626 |
payment of debt service on the bonds, amounts sufficient to pay | 627 |
the principal of the bonds anticipated as set forth in that | 628 |
estimated schedule during the time the notes are outstanding, | 629 |
which amounts shall be used solely to pay the principal of those | 630 |
notes or of the bonds anticipated. | 631 |
(b) Obligations for the refunding, including funding and | 632 |
retirement, and advance refunding with or without payment or | 633 |
redemption prior to maturity, of any obligations previously | 634 |
issued. Refunding obligations may be issued in amounts sufficient | 635 |
to pay or to provide for repayment of the principal amount, | 636 |
including principal amounts maturing prior to the redemption of | 637 |
the remaining prior obligations, any redemption premium, and | 638 |
interest accrued or to accrue to the maturity or redemption date | 639 |
or dates, payable on the prior obligations, and related financing | 640 |
costs and any expenses incurred or to be incurred in connection | 641 |
with that issuance and refunding. Subject to the applicable bond | 642 |
proceedings, the portion of the proceeds of the sale of refunding | 643 |
obligations issued under division (J)(1)(b) of this section to be | 644 |
applied to debt service on the prior obligations shall be credited | 645 |
to an appropriate separate account in the bond service fund and | 646 |
held in trust for the purpose by the issuing authority or by a | 647 |
corporate trustee. Obligations authorized under this division | 648 |
shall be considered to be issued for those purposes for which the | 649 |
prior obligations were issued. | 650 |
(2) Except as otherwise provided in sections 151.01 to
| 651 |
151.11 or 151.40 of the Revised Code, bonds or notes authorized | 652 |
pursuant to division (J) of this section are subject to the | 653 |
provisions of those sections pertaining to obligations generally. | 654 |
(3) The principal amount of refunding or renewal obligations | 655 |
issued pursuant to division (J) of this section shall be in | 656 |
addition to the amount authorized by the general assembly as | 657 |
referred to in division (B) of the following sections: section | 658 |
151.03, 151.04, 151.05, 151.06, 151.07, 151.08, 151.09, 151.10, | 659 |
151.11, or 151.40 of the Revised Code. | 660 |
(K) Obligations are lawful investments for banks, savings and | 661 |
loan associations, credit union share guaranty corporations, trust | 662 |
companies, trustees, fiduciaries, insurance companies, including | 663 |
domestic for life and domestic not for life, trustees or other | 664 |
officers having charge of sinking and bond retirement or other | 665 |
special funds of the state and political subdivisions and taxing | 666 |
districts of this state, the sinking fund, the administrator of | 667 |
workers' compensation subject to the approval of the workers' | 668 |
compensation board, the state teachers retirement system, the | 669 |
public employees retirement system, the school employees | 670 |
retirement system, and the Ohio police and fire pension fund, | 671 |
notwithstanding any other provisions of the Revised Code or rules | 672 |
adopted pursuant to those provisions by any state agency with | 673 |
respect to investments by them, and are also acceptable as | 674 |
security for the repayment of the deposit of public moneys. The | 675 |
exemptions from taxation in Ohio as provided for in particular | 676 |
sections of the Ohio Constitution and section 5709.76 of the | 677 |
Revised Code apply to the obligations. | 678 |
(L)(1) Unless otherwise provided or provided for in any | 679 |
applicable bond proceedings, moneys to the credit of or in a | 680 |
special fund shall be disbursed on the order of the issuing | 681 |
authority. No such order is required for the payment, from the | 682 |
bond service fund or other special fund, when due of debt service | 683 |
or required payments under credit enhancement facilities. | 684 |
(2) Payments received by the state under interest rate hedges | 685 |
entered into as credit enhancement facilities under this chapter | 686 |
shall be deposited to the credit of the bond service fund for the | 687 |
obligations to which those credit enhancement facilities relate. | 688 |
(M) The full faith and credit, revenue, and taxing power of | 689 |
the state are and shall be pledged to the timely payment of debt | 690 |
service on outstanding obligations as it comes due, all in | 691 |
accordance with Section 2k, 2l, 2m, 2n, 2o, 2p, or 15 of Article | 692 |
VIII, Ohio Constitution, and section 151.03, 151.04, 151.05, | 693 |
151.06,
151.07,
151.08, | 694 |
Revised Code. Moneys referred to in Section 5a of Article XII, | 695 |
Ohio Constitution, may not be pledged or used for the payment of | 696 |
debt service except on obligations referred to in section 151.06 | 697 |
of the Revised Code. Net state lottery proceeds, as provided for | 698 |
and referred to in section 3770.06 of the Revised Code, may not be | 699 |
pledged or used for the payment of debt service except on | 700 |
obligations referred to in section 151.03 of the Revised Code. The | 701 |
state covenants, and that covenant shall be controlling | 702 |
notwithstanding any other provision of law, that the state and the | 703 |
applicable officers and agencies of the state, including the | 704 |
general assembly, shall, so long as any obligations are | 705 |
outstanding in accordance with their terms, maintain statutory | 706 |
authority for and cause to be levied, collected and applied | 707 |
sufficient pledged excises, taxes, and revenues of the state so | 708 |
that the revenues shall be sufficient in amounts to pay debt | 709 |
service when due, to establish and maintain any reserves and other | 710 |
requirements, and to pay financing costs, including costs of or | 711 |
relating to credit enhancement facilities, all as provided for in | 712 |
the bond proceedings. Those excises, taxes, and revenues are and | 713 |
shall be deemed to be levied and collected, in addition to the | 714 |
purposes otherwise provided for by law, to provide for the payment | 715 |
of debt service and financing costs in accordance with sections | 716 |
151.01 to
| 717 |
proceedings. | 718 |
(N) The general assembly may from time to time repeal or | 719 |
reduce any excise, tax, or other source of revenue pledged to the | 720 |
payment of the debt service pursuant to Section 2k, 2l, 2m, 2n, | 721 |
2o, 2p, or 15 of Article VIII, Ohio Constitution, and sections | 722 |
151.01
to
| 723 |
levy, collect and apply any new or increased excise, tax, or | 724 |
revenue to meet the pledge, to the payment of debt service on | 725 |
outstanding obligations, of the state's full faith and credit, | 726 |
revenue and taxing power, or of designated revenues and receipts, | 727 |
except fees, excises or taxes referred to in Section 5a of Article | 728 |
XII, Ohio Constitution, for other than obligations referred to in | 729 |
section 151.06 of the Revised Code and except net state lottery | 730 |
proceeds for other than obligations referred to in section 151.03 | 731 |
of the Revised Code. Nothing in division (N) of this section | 732 |
authorizes any impairment of the obligation of this state to levy | 733 |
and collect sufficient excises, taxes, and revenues to pay debt | 734 |
service on obligations outstanding in accordance with their terms. | 735 |
(O) Each bond service fund is a trust fund and is hereby | 736 |
pledged to the payment of debt service on the applicable | 737 |
obligations. Payment of that debt service shall be made or | 738 |
provided for by the issuing authority in accordance with the bond | 739 |
proceedings without necessity for any act of appropriation. The | 740 |
bond proceedings may provide for the establishment of separate | 741 |
accounts in the bond service fund and for the application of those | 742 |
accounts only to debt service on specific obligations, and for | 743 |
other accounts in the bond service fund within the general | 744 |
purposes of that fund. | 745 |
(P) Subject to the bond proceedings pertaining to any | 746 |
obligations then outstanding in accordance with their terms, the | 747 |
issuing authority may in the bond proceedings pledge all, or such | 748 |
portion as the issuing authority determines, of the moneys in the | 749 |
bond service fund to the payment of debt service on particular | 750 |
obligations, and for the establishment and maintenance of any | 751 |
reserves for payment of particular debt service. | 752 |
(Q) The issuing authority shall by the fifteenth day of July | 753 |
of each fiscal year, certify or cause to be certified to the | 754 |
office of budget and management the total amount of moneys | 755 |
required during the current fiscal year to meet in full all debt | 756 |
service on the respective obligations and any related financing | 757 |
costs payable from the applicable bond service fund and not from | 758 |
the proceeds of refunding or renewal obligations. The issuing | 759 |
authority shall make or cause to be made supplemental | 760 |
certifications to the office of budget and management for each | 761 |
debt service payment date and at such other times during each | 762 |
fiscal year as may be provided in the bond proceedings or | 763 |
requested by that office. Debt service, costs of credit | 764 |
enhancement facilities, and other financing costs shall be set | 765 |
forth separately in each certification. If and so long as the | 766 |
moneys to the credit of the bond service fund, together with any | 767 |
other moneys available for the purpose, are insufficient to meet | 768 |
in full all payments when due of the amount required as stated in | 769 |
the certificate or otherwise, the office of budget and management | 770 |
shall at the times as provided in the bond proceedings, and | 771 |
consistent with any particular provisions in sections 151.03 to | 772 |
773 | |
sufficient amount to the bond service fund from the pledged | 774 |
revenues in the case of obligations issued pursuant to section | 775 |
151.40 of the Revised Code, and in the case of other obligations | 776 |
from the revenues derived from excises, taxes, and other revenues, | 777 |
including net state lottery proceeds in the case of obligations | 778 |
referred to in section 151.03 of the Revised Code. | 779 |
(R) Unless otherwise provided in any applicable bond | 780 |
proceedings, moneys to the credit of special funds may be invested | 781 |
by or on behalf of the state only in one or more of the following: | 782 |
(1) Notes, bonds, or other direct obligations of the United | 783 |
States or of any agency or instrumentality of the United States, | 784 |
or in no-front-end-load money market mutual funds consisting | 785 |
exclusively of those obligations, or in repurchase agreements, | 786 |
including those issued by any fiduciary, secured by those | 787 |
obligations, or in collective investment funds consisting | 788 |
exclusively of those obligations; | 789 |
(2) Obligations of this state or any political subdivision of | 790 |
this state; | 791 |
(3) Certificates of deposit of any national bank located in | 792 |
this state and any bank, as defined in section 1101.01 of the | 793 |
Revised Code, subject to inspection by the superintendent of | 794 |
financial institutions; | 795 |
(4) The treasurer of state's pooled investment program under | 796 |
section 135.45 of the Revised Code. | 797 |
The income from investments referred to in division (R) of | 798 |
this section shall, unless otherwise provided in sections 151.01 | 799 |
to
| 800 |
special funds or otherwise as the issuing authority determines in | 801 |
the bond proceedings. Those investments may be sold or exchanged | 802 |
at times as the issuing authority determines, provides for, or | 803 |
authorizes. | 804 |
(S) The treasurer of state shall have responsibility for | 805 |
keeping records, making reports, and making payments, relating to | 806 |
any arbitrage rebate requirements under the applicable bond | 807 |
proceedings. | 808 |
Sec. 151.02. (A) Pursuant to the powers granted to the | 809 |
general assembly under Article VIII, Ohio Constitution, to | 810 |
authorize the issuance of obligations, and pursuant to other | 811 |
authority vested in the general assembly, there is hereby created | 812 |
a body, both corporate and politic, constituting an agency and | 813 |
instrumentality of the state of Ohio and performing essential | 814 |
functions of the state, to be known as the "Ohio public facilities | 815 |
commission," which in that name may contract and be contracted | 816 |
with, sue and be sued, and exercise all other authority vested in | 817 |
that commission by sections 151.01 to 151.05 and 151.07 to 151.11 | 818 |
and Chapter 154. of the Revised Code. | 819 |
(B) The commission shall consist of, in each case ex officio, | 820 |
the governor, the treasurer of state, the auditor of state, the | 821 |
secretary of state, the attorney general, and the director of | 822 |
budget and management. The governor shall serve as the chairman of | 823 |
the commission, the director of budget and management shall serve | 824 |
as its secretary, and the commission shall have such other | 825 |
officers as it determines, who may but need not be members of the | 826 |
commission. Four members of the commission constitute a quorum and | 827 |
the affirmative vote of four members is necessary for any action | 828 |
taken by vote of the commission. No vacancy in the membership of | 829 |
the commission shall impair the rights of a quorum by such vote to | 830 |
exercise all the rights and perform all the duties of the | 831 |
commission. Each of the state officers above identified may | 832 |
designate an employee or officer of that officer's office to | 833 |
attend meetings of the commission when that officer is absent or | 834 |
unable for any reason to attend and that designee, when present, | 835 |
shall be counted in determining whether a quorum is present at any | 836 |
meeting and may vote and participate in all proceedings and | 837 |
actions of the commission. A designee may not execute or cause a | 838 |
facsimile signature to be placed on any obligation. That | 839 |
designation shall be in writing, executed by the designating | 840 |
member, and be filed with the secretary of the commission. A | 841 |
designation may be changed from time to time by a similar written | 842 |
designation. The commission may delegate to such of its members, | 843 |
officers, or employees as it determines those powers and duties as | 844 |
it deems appropriate. No member of the commission or designee | 845 |
shall, by reason of being or serving as a member of the | 846 |
commission, be required to abstain from action in any other | 847 |
capacity as an incumbent of a state office or position or from any | 848 |
action as a member of the commission in any matter affecting or in | 849 |
any way pertaining to both that office or position and the | 850 |
commission, or for any purpose be deemed to be disqualified from | 851 |
either such office or position or as a member of the commission by | 852 |
reason of so acting or to have violated any law by reason thereof. | 853 |
The commission may adopt and alter bylaws and rules for the | 854 |
conduct of its affairs, including provisions for meetings, and for | 855 |
the manner, subject to this chapter and Chapter 154. of the | 856 |
Revised Code, in which its powers and functions are to be | 857 |
exercised and embodied and may adopt and alter at will an official | 858 |
seal to be affixed to official documents, provided that the | 859 |
failure to affix any such seal shall not affect the legality of | 860 |
such documents. Members of the commission shall receive no added | 861 |
compensation for their services as such members but may be | 862 |
reimbursed, as determined by the commission, for their necessary | 863 |
and actual expenses incurred in the conduct of the commission's | 864 |
business. | 865 |
(C) In connection with the exercise of its powers pursuant to | 866 |
this chapter, the commission may enter into contracts and execute | 867 |
all instruments necessary or incidental to the performance of the | 868 |
commission's duties and the execution of the authority's powers | 869 |
and do all other acts necessary or proper to the fulfillment of | 870 |
the commission's purposes and to carry out the powers expressly | 871 |
granted in this chapter. | 872 |
Sec. 151.10. (A) As used in this section: | 873 |
(1) "Costs of research and development projects" includes | 874 |
related direct administrative expenses and allocable portions of | 875 |
the direct costs of those projects, costs of capital facilities, | 876 |
and working capital, all for the following: | 877 |
(a) Attracting researchers and research teams by endowing | 878 |
research chairs or otherwise; | 879 |
(b) Activities to develop and commercialize products and | 880 |
processes; | 881 |
(c) Intellectual property matters such as copyrights and | 882 |
patents; | 883 |
(d) Property interests including timesharing arrangements, | 884 |
capital formation, direct operating costs, and costs of research | 885 |
and facilities including interests in real property therefore; and | 886 |
(e) Support for public and private institutions of higher | 887 |
education, research organizations or institutions, and private | 888 |
sector entities. | 889 |
(2) "Obligations" means obligations as defined in section | 890 |
151.01 of the Revised Code issued to pay costs of projects for | 891 |
research and development purposes as referred to in division | 892 |
(A)(2) of Section 2p of Article VIII, Ohio Constitution. | 893 |
(3) "Project" means any research and development project, as | 894 |
defined in section 184.10 of the Revised Code, or facility, | 895 |
including undivided or other interests, acquired or to be | 896 |
acquired, constructed or to be constructed, or operating or to be | 897 |
operated by a person doing business in this state or by an | 898 |
educational or scientific institution located in this state with | 899 |
all or part of the cost of the project being paid from a grant or | 900 |
loan from the third frontier research and development fund or a | 901 |
loan guaranteed under Chapter 184. of the Revised Code, including | 902 |
all buildings and facilities determined necessary for the | 903 |
operation of the project, together with all property, rights, | 904 |
easements, and interests that may be required for the operation of | 905 |
the project. | 906 |
(B) The issuing authority shall issue general obligations of | 907 |
the state to pay costs of research and development projects | 908 |
pursuant to division (B)(2) of Section 2p of Article VIII, Ohio | 909 |
Constitution, section 151.01 of the Revised Code, and this | 910 |
section. The issuing authority shall issue obligations in the | 911 |
amount determined by the issuing authority to be required for | 912 |
those purposes. The total principal amount of obligations issued | 913 |
under this section shall not exceed five hundred million dollars. | 914 |
(C) Net proceeds of obligations shall be deposited into the | 915 |
third frontier research and development fund created by section | 916 |
184.19 of the Revised Code. | 917 |
(D) There is hereby created in the state treasury the third | 918 |
frontier research and development projects bond service fund. All | 919 |
moneys received by the state and required by the bond proceedings, | 920 |
consistent with section 151.01 of the Revised Code and this | 921 |
section, to be deposited, transferred, or credited to the bond | 922 |
service fund, and all other moneys transferred or allocated to or | 923 |
received for the purposes of that fund, shall be deposited and | 924 |
credited to the bond service fund, subject to any applicable | 925 |
provisions of the bond proceedings, but without necessity for any | 926 |
act of appropriation. During the period beginning with the date of | 927 |
the first issuance of obligations and continuing during the time | 928 |
that any obligations are outstanding in accordance with their | 929 |
terms, so long as moneys in the bond service fund are insufficient | 930 |
to pay debt service when due on those obligations payable from | 931 |
that fund, except the principal amounts of bond anticipation notes | 932 |
payable from the proceeds of renewal notes or bonds anticipated, | 933 |
and due in the particular fiscal year, a sufficient amount of | 934 |
revenues of the state is committed and, without necessity for | 935 |
further act of appropriation, shall be paid to the bond service | 936 |
fund for the purpose of paying that debt service when due. | 937 |
Sec. 151.11. (A) As used in this section: | 938 |
(1) "Costs of sites and facilities" includes related direct | 939 |
administrative expenses and allocable portions of the direct costs | 940 |
of those projects. "Costs of sites and facilities" includes | 941 |
"allowable costs" as defined in section 122.085 of the Revised | 942 |
Code. | 943 |
(2) "Obligations" means obligations as defined in section | 944 |
151.01 of the Revised Code issued to pay costs of sites and | 945 |
facilities in Ohio for and in support of industry, commerce, | 946 |
distribution, and research and development purposes as referred to | 947 |
in division (A)(3) of Section 2p of Article VIII, Ohio | 948 |
Constitution. | 949 |
(B) The issuing authority shall issue general obligations of | 950 |
the state to pay costs of sites and facilities pursuant to | 951 |
division (B)(3) of Section 2p of Article VIII, Ohio Constitution, | 952 |
section 151.01 of the Revised Code, and this section. The issuing | 953 |
authority shall issue obligations in the amount determined by the | 954 |
issuing authority to be required for those purposes. The total | 955 |
principal amount of obligations issued under this section shall | 956 |
not exceed one hundred fifty million dollars. | 957 |
(C) Net proceeds of obligations shall be deposited into the | 958 |
job ready site development fund created by section 122.0820 of the | 959 |
Revised Code. | 960 |
(D) There is hereby created in the state treasury the job | 961 |
ready site development bond service fund. All moneys received by | 962 |
the state and required by the bond proceedings, consistent with | 963 |
section 151.01 of the Revised Code and this section, to be | 964 |
deposited, transferred, or credited to the bond service fund, and | 965 |
all other moneys transferred or allocated to or received for the | 966 |
purposes of that fund, shall be deposited and credited to the bond | 967 |
service fund, subject to any applicable provisions of the bond | 968 |
proceedings, but without necessity for any act of appropriation. | 969 |
During the period beginning with the date of the first issuance of | 970 |
obligations and continuing during the time that any obligations | 971 |
are outstanding in accordance with their terms, so long as moneys | 972 |
in the bond service fund are insufficient to pay debt service when | 973 |
due on those obligations payable from that fund, except the | 974 |
principal amounts of bond anticipation notes payable from the | 975 |
proceeds of renewal notes or bonds anticipated, and due in the | 976 |
particular fiscal year, a sufficient amount of revenues of the | 977 |
state is committed and, without necessity for further act of | 978 |
appropriation, shall be paid to the bond service fund for the | 979 |
purpose of paying that debt service when due. | 980 |
Sec. 184.01. (A) There is hereby created the third frontier | 981 |
commission in the department of development. The purpose of the | 982 |
commission is to coordinate and administer science and technology | 983 |
programs to promote the welfare of the people of the state and to | 984 |
maximize the economic growth of the state through expansion of | 985 |
both of the following: | 986 |
(1) The state's high technology research and development | 987 |
capabilities; | 988 |
(2) The state's product and process innovation and | 989 |
commercialization. | 990 |
(B)(1) The commission shall consist of nine members: the | 991 |
director of development, the chancellor of the Ohio board of | 992 |
regents, | 993 |
six persons appointed by the governor with the advice and consent | 994 |
of the senate. | 995 |
(2) Of the six persons appointed by the governor, one shall | 996 |
represent the central region, which is composed of the counties of | 997 |
Delaware, Fairfield, Fayette, Franklin, Hocking, Knox, Licking, | 998 |
Logan, Madison, Marion, Morrow, Perry, Pickaway, Ross, and Union; | 999 |
one shall represent the west central region, which is composed of | 1000 |
the counties of Champaign, Clark, Darke, Greene, Miami, | 1001 |
Montgomery, Preble, and Shelby; one shall represent the northeast | 1002 |
region, which is composed of the counties of Ashland, Ashtabula, | 1003 |
Carroll, Crawford, Columbiana, Cuyahoga, Erie, Geauga, Holmes, | 1004 |
Huron, Lake, Lorain, Mahoning, Medina, Portage, Richland, Stark, | 1005 |
Summit, Trumbull, Tuscarawas, and Wayne; one shall represent the | 1006 |
northwest region, which is composed of the counties of Allen, | 1007 |
Auglaize, Defiance, Fulton, Hancock, Hardin, Henry, Lucas, Mercer, | 1008 |
Ottawa, Paulding, Putnam, Sandusky, Seneca, Van Wert, Williams, | 1009 |
Wood, and Wyandot; one shall represent the southeast region, which | 1010 |
shall represent the counties of Adams, Athens, Belmont, Coshocton, | 1011 |
Gallia, Guernsey, Harrison, Jackson, Jefferson, Lawrence, Meigs, | 1012 |
Monroe, Morgan, Muskingum, Noble, Pike, Scioto, Vinton, and | 1013 |
Washington; and one shall represent the southwest region, which is | 1014 |
composed of the counties of Butler, Brown, Clermont, Clinton, | 1015 |
Hamilton, Highland, and Warren. Of the initial appointments, two | 1016 |
shall be for one year, two shall be for two years, and two shall | 1017 |
be for three years as assigned by the governor. Thereafter, | 1018 |
appointments shall be for three-year terms. Members may be | 1019 |
reappointed and vacancies shall be filled in the same manner as | 1020 |
appointments. A person must have a background in business or | 1021 |
research in order to be eligible for appointment to the | 1022 |
commission. | 1023 |
(3) The governor shall select a chairperson from among the | 1024 |
members, who shall serve in that role at the pleasure of the | 1025 |
governor. Sections 101.82 to 101.87 of the Revised Code do not | 1026 |
apply to the commission. | 1027 |
(C) The commission shall meet at least once during each | 1028 |
quarter of the calendar year or at the call of the chairperson. A | 1029 |
majority of all members of the commission constitutes a quorum, | 1030 |
and no action shall be taken without the concurrence of a majority | 1031 |
of the members. | 1032 |
(D) The commission shall administer any money that may be | 1033 |
appropriated to it by the general assembly. The commission may use | 1034 |
such money for research and commercialization and for any other | 1035 |
purposes that may be designated by the commission. | 1036 |
(E) The department of development shall provide office space | 1037 |
and facilities for the commission. Administrative costs associated | 1038 |
with the operation of the commission or with any program or | 1039 |
activity administered by the commission shall be paid from amounts | 1040 |
appropriated to the commission or to the department of development | 1041 |
for such purposes. | 1042 |
(F) The attorney general shall serve as the legal | 1043 |
representative for the commission and may appoint other counsel as | 1044 |
necessary for that purpose in accordance with section 109.07 of | 1045 |
the Revised Code. | 1046 |
(G) Members of the commission shall serve without | 1047 |
compensation, but shall receive their reasonable and necessary | 1048 |
expenses incurred in the conduct of commission business. | 1049 |
(H) Members of the commission shall file financial disclosure | 1050 |
statements described in division (B) of section 102.02 of the | 1051 |
Revised Code. | 1052 |
Sec. 184.02.
(A) | 1053 |
under sections 184.10 to 184.19 of the Revised Code, the third | 1054 |
frontier commission may perform any act to ensure the performance | 1055 |
of any function necessary or appropriate to carry out the purposes | 1056 |
of, and exercise the powers granted under, sections 184.01 and | 1057 |
184.02 of the Revised Code. In addition, the commission may do any | 1058 |
of the following: | 1059 |
(1) Adopt, amend, and rescind rules under section 111.15 of | 1060 |
the Revised Code for the administration of any aspect of its | 1061 |
operations; | 1062 |
(2) Adopt bylaws governing its operations, including bylaws | 1063 |
that establish procedures and set policies as may be necessary to | 1064 |
assist with the furtherance of its purposes; | 1065 |
(3) Appoint and set the compensation of employees needed to | 1066 |
carry out its duties; | 1067 |
(4) Contract with, retain the services of, or designate, and | 1068 |
fix the compensation of, such financial consultants, accountants, | 1069 |
other consultants and advisors, and other independent contractors | 1070 |
as may be necessary or desirable to carry out its duties; | 1071 |
(5) Solicit input and comments from the third frontier | 1072 |
advisory board, and specialized industry, professional, and other | 1073 |
relevant interest groups concerning its purposes; | 1074 |
(6) Facilitate alignment of the state's science and | 1075 |
technology programs and activities; | 1076 |
(7) Make grants and loans to individuals, public agencies, | 1077 |
private companies or organizations, or joint ventures for any of | 1078 |
the broad range of activities related to its purposes. | 1079 |
(B) | 1080 |
184.10 to 184.18 of the Revised Code, the commission shall do all | 1081 |
of the following: | 1082 |
(1) Establish a competitive process for the award of grants | 1083 |
and loans that is designed to fund the most meritorious proposals | 1084 |
and, when appropriate, provide for peer review of proposals; | 1085 |
(2) Within ninety days after the end of each fiscal year, | 1086 |
submit to the governor and the general assembly a report of the | 1087 |
activities of the commission during the preceding fiscal year; | 1088 |
(3) With specific application to the biomedical research and | 1089 |
technology transfer trust fund, periodically make strategic | 1090 |
assessments of the types of state investments in biomedical | 1091 |
research and biotechnology in the state that would likely create | 1092 |
jobs and business opportunities in the state and produce the most | 1093 |
beneficial long-term improvements to the public health of Ohioans, | 1094 |
including, but not limited to, biomedical research and | 1095 |
biotechnology initiatives that address tobacco-related illnesses | 1096 |
as may be outlined in any master agreement. The commission shall | 1097 |
award grants and loans from the fund pursuant to a process | 1098 |
established under division (B)(1) of this section. | 1099 |
Sec. 184.03. (A) There is hereby created the third frontier | 1100 |
advisory board that, upon request of the third frontier | 1101 |
commission, shall provide general advice to the commission on | 1102 |
various items including, but not limited to, the following: | 1103 |
(1) Strategic planning for programs administered by the | 1104 |
commission; | 1105 |
(2) Budget and funding priorities, funding processes, | 1106 |
request-for-proposal criteria, and other aspects of the management | 1107 |
and coordination of programs administered by the commission; | 1108 |
(3) Metrics and methods of measuring the progress and impact | 1109 |
of programs administered by the commission; | 1110 |
(4) Studies to be conducted to collect and analyze data | 1111 |
relevant to advancing the goals of programs administered by the | 1112 |
commission; | 1113 |
(5) The commission's powers and duties under sections 184.10 | 1114 |
to 184.19 of the Revised Code. | 1115 |
(B) The board shall consist of sixteen members selected for | 1116 |
their knowledge of and experience in science and technology | 1117 |
matters that may affect the state in the near future. Of the | 1118 |
sixteen members, fourteen shall be appointed by the governor, one | 1119 |
shall be appointed by the speaker of the house of representatives, | 1120 |
and one shall be appointed by the president of the senate. | 1121 |
(1) Of the fourteen members appointed by the governor, nine | 1122 |
shall be representative of or have experience with business | 1123 |
matters that affect the state and five shall be representative of | 1124 |
or have experience with matters affecting universities or | 1125 |
nonprofit research institutions in the state. | 1126 |
(2) Of the governor's initial appointees that are | 1127 |
representative of or have experience with business matters that | 1128 |
affect the state, three shall serve an initial term of one year, | 1129 |
three shall serve an initial term of two years, and three shall | 1130 |
serve an initial term of three years. All of the initial | 1131 |
appointees that are representative of or have experience with | 1132 |
matters affecting university or nonprofit research institutions | 1133 |
shall serve an initial term of three years. Thereafter, each | 1134 |
member appointed by the governor shall serve a three-year term. | 1135 |
(3) All appointees to the board shall serve at the pleasure | 1136 |
of their appointing authorities. | 1137 |
(4) Not more than nine members of the board shall be of the | 1138 |
same political party. | 1139 |
(C) The governor shall appoint the chairperson of the board | 1140 |
from among its members, and the chairperson shall serve in that | 1141 |
role at the pleasure of the governor. | 1142 |
(D) A majority of the members of the board constitutes a | 1143 |
quorum, and no action shall be taken without the affirmative vote | 1144 |
of a majority of the members. | 1145 |
(E) Each member of the board shall hold office from the date | 1146 |
of appointment until the end of the term for which the member was | 1147 |
appointed. A member may be reappointed for an unlimited number of | 1148 |
terms. A member appointed to fill a vacancy occurring prior to the | 1149 |
expiration of the term for which the member's predecessor was | 1150 |
appointed shall hold office for the remainder of such term. A | 1151 |
vacancy in an unexpired term shall be filled in the same manner as | 1152 |
the original appointment. A member of the board shall continue in | 1153 |
office subsequent to the expiration date of the member's term | 1154 |
until the member's successor takes office, or until a period of | 1155 |
sixty days has elapsed, whichever occurs first. The governor may | 1156 |
remove any member of the board for malfeasance, misfeasance, or | 1157 |
nonfeasance after a hearing in accordance with Chapter 119. of the | 1158 |
Revised Code. | 1159 |
(F) Members of the board shall not act as representatives of | 1160 |
any specific disciplinary, regional, or organizational interest. | 1161 |
Members shall represent a wide variety of experience valuable in | 1162 |
technology research and development, product process innovation | 1163 |
and commercialization, and creating and managing high-growth | 1164 |
technology-based companies. | 1165 |
(G) Members of the board shall file financial disclosure | 1166 |
statements described in division (B) of section 102.02 of the | 1167 |
Revised Code. | 1168 |
(H) Members of the board shall serve without compensation but | 1169 |
shall receive their reasonable and necessary expenses incurred in | 1170 |
the conduct of board business. | 1171 |
(I) Before entering upon duties as a member of the board, | 1172 |
each member shall take an oath as provided by Section 7 of Article | 1173 |
XV, Ohio Constitution. | 1174 |
(J) The department of development shall provide office space | 1175 |
and facilities for the board. | 1176 |
(K) Sections 101.82 to 101.87 of the Revised Code do not | 1177 |
apply to the board. | 1178 |
Sec. 184.10. As used in sections 184.10 to 184.19 of the | 1179 |
Revised Code: | 1180 |
(A) "In-state entity" includes individuals, public and | 1181 |
private entities, agencies, and institutions, private companies or | 1182 |
organizations, partnerships, business trusts, or other business | 1183 |
entities or ventures, or research organizations, whether for | 1184 |
profit or not for profit, that have substantial presence in Ohio. | 1185 |
(B) "Research and development projects" means projects or | 1186 |
activities in support of Ohio industry, commerce, and business, | 1187 |
which include, without limitation, research and product | 1188 |
innovation, development, and commercialization through efforts by, | 1189 |
and may include collaboration among, Ohio business and industry, | 1190 |
state and local public entities and agencies, public and private | 1191 |
institutions, or research organizations. Those projects and | 1192 |
activities also include projects and activities supporting any and | 1193 |
all matters related to research and development purposes | 1194 |
including: attracting researchers and research teams by endowing | 1195 |
chairs or otherwise; developing and commercializing products and | 1196 |
processes; promoting, developing, and securing intellectual | 1197 |
property matters and rights such as copyrights and patents; | 1198 |
promoting, developing, and securing property interests, including | 1199 |
time sharing arrangements; and promoting, developing, and securing | 1200 |
financial rights and matters such as royalties, licensing, and | 1201 |
other financial gain or sharing resulting from research and | 1202 |
development. | 1203 |
Sec. 184.11. The third frontier commission may award support | 1204 |
to individuals, public and private entities, agencies, and | 1205 |
institutions, private companies or organizations, partnerships, | 1206 |
business trusts, or other business entities or ventures, research | 1207 |
organizations, whether for profit or not for profit, or | 1208 |
combinations or consortiums of any of the foregoing for the | 1209 |
purpose of supporting research and development projects. The | 1210 |
support may be in such manner as the commission determines, | 1211 |
including by any one or a combination of grants, loans, including | 1212 |
loans to lenders or the purchase of loans, subsidies, | 1213 |
contributions, advances, or guarantees, or by payment or | 1214 |
reimbursement from available money, or by providing staffing or | 1215 |
other support including computer or other technology capacity, or | 1216 |
equipment or facilities, including interests in real property. | 1217 |
Sec. 184.111. Except with respect to support subject to an | 1218 |
agreement under section 184.114 of the Revised Code, the third | 1219 |
frontier commission may award the support described in section | 1220 |
184.11 of the Revised Code only to in-state entities. If an entity | 1221 |
awarded support is collaborating with any entity that is not an | 1222 |
in-state entity on the research and development project for which | 1223 |
the support was awarded, the in-state entity may provide any | 1224 |
portion of that support to the other entity only if the | 1225 |
commission, in its discretion and only under exceptional | 1226 |
circumstances that the commission determines, permits it. | 1227 |
Sec. 184.112. The third frontier commission shall establish | 1228 |
a competitive process for making awards of the support described | 1229 |
in section 184.11 of the Revised Code that is designed to fund the | 1230 |
research and development projects that have the most merit. The | 1231 |
commission, on completion of that process, shall make a | 1232 |
recommendation to the controlling board asking for approval to | 1233 |
award support for the research and development projects selected | 1234 |
by the commission. | 1235 |
Sec. 184.113. The third frontier commission shall require | 1236 |
each individual, public and private entity, agency, and | 1237 |
institution, private company or organization, partnership, | 1238 |
business trust, or other business entity or venture, research | 1239 |
organization, or combination or consortium of any of the foregoing | 1240 |
that the controlling board approves to receive the support | 1241 |
described in section 184.11 of the Revised Code to enter into an | 1242 |
agreement governing the use of the support for the research and | 1243 |
development project. The agreement shall contain terms the | 1244 |
commission determines to be necessary, including provisions | 1245 |
stating that any support given by the commission may be used to | 1246 |
pay costs of or in support of or related to research and | 1247 |
development purposes, including, without limitation, capital | 1248 |
formation, direct operating costs, costs of research and | 1249 |
facilities, including interests in real property, and support for | 1250 |
public and private institutions of higher education, research | 1251 |
organizations or institutions, and private sector entities. | 1252 |
Sec. 184.114. If the third frontier commission intends to | 1253 |
award support for a research and development project under section | 1254 |
184.11 of the Revised Code to an individual or private entity, | 1255 |
agency, institution, company, partnership, business trust, or | 1256 |
other business entity or venture, or organization, the agreement | 1257 |
governing the use of the support entered into under section | 1258 |
184.113 of the Revised Code shall require both of the following: | 1259 |
(A) The project shall primarily benefit this state. | 1260 |
(B) If the recipient of the support is not an in-state | 1261 |
entity, it shall become an in-state entity not later than six | 1262 |
months after entering into the agreement. | 1263 |
Sec. 184.115. An individual or private entity, agency, | 1264 |
institution, company, partnership, business trust, or other | 1265 |
business entity or venture, or organization that has received | 1266 |
support under section 184.11 of the Revised Code for a research | 1267 |
and development project and that violates the requirements of | 1268 |
section 184.114 of the Revised Code forfeits the support and must | 1269 |
repay the support amount or the equivalent in money plus interest | 1270 |
at the rate required by section 5703.47 of the Revised Code to the | 1271 |
third frontier commission. If all or a portion of the support | 1272 |
forfeited is other than in the form of a grant, recovery of the | 1273 |
support shall be governed by the agreement entered into under | 1274 |
section 184.113 of the Revised Code. | 1275 |
Sec. 184.116. If the third frontier commission utilizes | 1276 |
independent reviewers to review the merits of proposed research | 1277 |
and development projects and to make recommendations to the | 1278 |
commission concerning which projects should be awarded support | 1279 |
under section 184.11 of the Revised Code and the commission takes | 1280 |
one of the following actions, the commission shall provide a | 1281 |
written explanation of the reasons for its action and present the | 1282 |
explanation at one of the commission's regularly scheduled public | 1283 |
meetings: | 1284 |
(A) Awards support for a project that the reviewers do not | 1285 |
recommend; | 1286 |
(B) Refuses to award support for a project the reviewers do | 1287 |
recommend; | 1288 |
(C) Makes a support award that varies substantially from the | 1289 |
reviewers' recommendation. | 1290 |
The commission, pursuant to Chapter 119. of the Revised Code, | 1291 |
shall adopt rules necessary and proper to govern explanations | 1292 |
required under this section. | 1293 |
Sec. 184.12. Individuals, Ohio businesses and industries, | 1294 |
local public entities and agencies, public and private education | 1295 |
institutions, including state-supported and state-assisted | 1296 |
institutions of higher education, the state and state agencies, | 1297 |
and research organizations and institutions may collaborate on | 1298 |
research and development projects. | 1299 |
Sec. 184.13. The state shall have no ownership interest in | 1300 |
any business or private entity, agency, institution, company, | 1301 |
partnership, business trust, venture, or organization that has | 1302 |
received support for a research and development project under | 1303 |
section 184.11 of the Revised Code, and shall assume no shared | 1304 |
risk or shared liability. | 1305 |
Sec. 184.14. The third frontier commission shall establish | 1306 |
procedures that permit public inspection of all support awarded | 1307 |
under section 184.11 of the Revised Code for research and | 1308 |
development projects and the processes used to determine which | 1309 |
projects shall receive support. | 1310 |
Sec. 184.15. The third frontier commission shall publish a | 1311 |
report twice each year detailing all support awarded under section | 1312 |
184.11 of the Revised Code for research and development projects, | 1313 |
including the amount or type of support and the progress and | 1314 |
performance metrics for the projects. A copy of each report shall | 1315 |
be delivered to the governor, speaker and minority leader of the | 1316 |
house of representatives, and president and minority leader of the | 1317 |
senate. | 1318 |
Sec. 184.151. The third frontier commission shall conduct | 1319 |
public meetings twice each year at which a representative of the | 1320 |
department of development shall testify regarding the number of | 1321 |
applicants for support for research and development projects and | 1322 |
the other information contained in the most recent report made by | 1323 |
the commission under section 184.15 of the Revised Code. The | 1324 |
representative shall also testify regarding the monitoring | 1325 |
activities of, and data obtained by, the department pursuant to | 1326 |
section 184.16 of the Revised Code. In addition to oral testimony, | 1327 |
the representative shall provide a written report of all the | 1328 |
information for which testimony is required under this section. | 1329 |
Sec. 184.16. The department of development shall monitor | 1330 |
each research and development project receiving support under | 1331 |
section 184.11 of the Revised Code to ensure the following: | 1332 |
(A) Fiscal accountability, so that the support is used in | 1333 |
accordance with the agreement entered into under section 184.113 | 1334 |
of the Revised Code; | 1335 |
(B) Operating progress, so that the project is managed to | 1336 |
achieve the requirements of the agreement entered into under | 1337 |
section 184.113 of the Revised Code and so that problems may be | 1338 |
promptly identified and remedied; | 1339 |
(C) Desired outcomes, including job creation and other | 1340 |
anticipated economic impacts. | 1341 |
Sec. 184.17. As used in sections 184.171, 184.172, and | 1342 |
184.173 of the Revised Code, "minority" means an individual who is | 1343 |
a United States citizen and who is a member of one of the | 1344 |
following economically disadvantaged groups: Blacks or African | 1345 |
Americans, American Indians, Hispanics or Latinos, and Asians. | 1346 |
Sec. 184.171. The third frontier commission shall conduct | 1347 |
outreach activities described in section 184.172 of the Revised | 1348 |
Code that seek to include minorities in the various projects and | 1349 |
initiatives sponsored, funded, encouraged, or otherwise promoted | 1350 |
by the commission. The commission shall direct the activities at | 1351 |
faculty and students involved in science and engineering | 1352 |
disciplines, professional scientists and engineers, technical | 1353 |
assistance providers, the investment community, minority-owned | 1354 |
businesses, and minority entrepreneurs. | 1355 |
Sec. 184.172. The outreach activities the third frontier | 1356 |
commission shall conduct under section 184.171 of the Revised Code | 1357 |
shall include the following: | 1358 |
(A) Identifying and partnering with historically black | 1359 |
colleges and universities to solicit and implement a minority | 1360 |
technology demonstration project funded by the national science | 1361 |
foundation; | 1362 |
(B) Working with all institutions of higher education in the | 1363 |
state to support minority faculty and students involved in science | 1364 |
and engineering; | 1365 |
(C) Developing a plan to contact by telephone minority-owned | 1366 |
businesses and entrepreneurs to notify them of and encourage them | 1367 |
to participate in the various third frontier projects and | 1368 |
initiatives; | 1369 |
(D) Identifying minority professional and technical trade | 1370 |
associations and economic development assistance organizations and | 1371 |
notifying them of the various third frontier projects and | 1372 |
initiatives; | 1373 |
(E) Partnering with regional technology councils to foster | 1374 |
local efforts to support minority-owned technology businesses or | 1375 |
otherwise identify networks of minority-owned technology | 1376 |
businesses, entrepreneurs, and individuals operating locally; | 1377 |
(F) Identifying minority technology firms and marketing them | 1378 |
to the investment community including the Ohio venture capital | 1379 |
authority created under section 150.02 of the Revised Code and the | 1380 |
managers of all investment funds receiving third frontier project | 1381 |
support. | 1382 |
Sec. 184.173. The third frontier commission shall conduct | 1383 |
the outreach activities described in sections 184.171 and 184.172 | 1384 |
of the Revised Code in conjunction with the EDGE program created | 1385 |
under section 123.152 of the Revised Code. | 1386 |
Sec. 184.18. (A) As used in this section: | 1388 |
(1) "Metropolitan statistical area" means an area of this | 1389 |
state that is designated a metropolitan statistical area or | 1390 |
primary metropolitan statistical area in United States office of | 1391 |
management and budget bulletin No. 04-03, February 18, 2004, and | 1392 |
its attachments, and the designated area is located entirely | 1393 |
within this state. An area of this state that is designated a | 1394 |
metropolitan statistical area or primary metropolitan statistical | 1395 |
area, but the designated area includes areas of one or more other | 1396 |
states, shall be considered a metropolitan statistical area only | 1397 |
if that area of this state could be designated a metropolitan | 1398 |
statistical area or primary metropolitan statistical area without | 1399 |
including the areas located in the other state or states. | 1400 |
(2) "Rural area" means any area of this state not located | 1401 |
within a metropolitan statistical area. | 1402 |
(B) The third frontier commission shall conduct outreach | 1403 |
activities that seek to include rural areas in the various | 1404 |
projects and initiatives sponsored, funded, encouraged, or | 1405 |
otherwise promoted by the commission. Those activities shall | 1406 |
include the following: | 1407 |
(1) Working with all institutions of higher education in the | 1408 |
state to support faculty and students involved in science and | 1409 |
engineering who focus on third frontier projects and initiatives | 1410 |
in rural areas; | 1411 |
(2) Developing a plan to contact by telephone businesses and | 1412 |
entrepreneurs in rural areas to notify them of and encourage them | 1413 |
to participate in the various third frontier projects and | 1414 |
initiatives; | 1415 |
(3) Identifying professional and technical trade associations | 1416 |
and economic development assistance organizations in rural areas | 1417 |
and notifying them of the various third frontier projects and | 1418 |
initiatives; | 1419 |
(4) Partnering with regional technology councils to foster | 1420 |
local efforts to support technology businesses in rural areas or | 1421 |
otherwise identify networks of technology businesses, | 1422 |
entrepreneurs, and individuals operating in rural areas; | 1423 |
(5) Identifying technology firms in rural areas and marketing | 1424 |
them to the investment community including the Ohio venture | 1425 |
capital authority created under section 150.02 of the Revised Code | 1426 |
and the managers of all investment funds receiving third frontier | 1427 |
project support. | 1428 |
Sec. 184.19. The third frontier research and development | 1429 |
fund is hereby created in the state treasury. The fund shall | 1430 |
consist of the net proceeds of the obligations issued and sold by | 1431 |
the issuing authority pursuant to sections 151.01 and 151.10 of | 1432 |
the Revised Code. Investment earnings of the fund shall be | 1433 |
credited to the fund. Moneys in the fund shall be used in | 1434 |
accordance with sections 184.10 to 184.18 of the Revised Code and | 1435 |
for associated administrative expenses. | 1436 |
Section 2. That existing sections 151.01, 151.02, 184.01, | 1437 |
184.02, and 184.03 of the Revised Code are hereby repealed. | 1438 |
Section 3. The Governor shall make the appointments to the | 1439 |
Third Frontier Commission required under section 184.01 of the | 1440 |
Revised Code not later than April 1, 2006. The Commission shall be | 1441 |
officially expanded on that date and the initial terms of office | 1442 |
of those persons appointed shall begin on that date. | 1443 |
Section 4. That Sections 203.99, 203.99.33, 203.99.51, and | 1444 |
209.99 of Am. Sub. H.B. 66 of the 126th General Assembly be | 1445 |
amended to read as follows: | 1446 |
Sec. 203.99. DEV DEPARTMENT OF DEVELOPMENT | 1447 |
General Revenue Fund | 1448 |
GRF | 195-321 | Operating Expenses | $ | 2,738,908 | $ | 2,723,908 | 1449 | ||||
GRF | 195-401 | Thomas Edison Program | $ | 17,554,838 | $ | 17,454,838 | 1450 | ||||
GRF | 195-404 | Small Business Development | $ | 1,740,722 | $ | 1,740,722 | 1451 | ||||
GRF | 195-405 | Minority Business Development Division | $ | 1,580,291 | $ | 1,580,291 | 1452 | ||||
GRF | 195-407 | Travel and Tourism | $ | 6,812,845 | $ | 6,712,845 | 1453 | ||||
GRF | 195-410 | Defense Conversion Assistance | $ | 300,000 | $ | 200,000 | 1454 | ||||
GRF | 195-412 | Business Development Grants | $ | 11,750,000 | $ | 11,750,000 | 1455 | ||||
GRF | 195-415 | Economic Development Division and Regional Offices | $ | 5,794,975 | $ | 5,894,975 | 1456 | ||||
GRF | 195-416 | Governor's Office of Appalachia | $ | 4,122,372 | $ | 4,122,372 | 1457 | ||||
GRF | 195-422 | Third Frontier Action Fund | $ | 16,790,000 | $ | 16,790,000 | 1458 | ||||
GRF | 195-426 | Clean Ohio Implementation | $ | 300,000 | $ | 300,000 | 1459 | ||||
GRF | 195-432 | International Trade | $ | 4,223,787 | $ | 4,223,787 | 1460 | ||||
GRF | 195-434 | Investment in Training Grants | $ | 12,227,500 | $ | 12,227,500 | 1461 | ||||
GRF | 195-436 | Labor/Management Cooperation | $ | 811,869 | $ | 811,869 | 1462 | ||||
GRF | 195-497 | CDBG Operating Match | $ | 1,040,956 | $ | 1,040,956 | 1463 | ||||
GRF | 195-498 | State Match Energy | $ | 94,000 | $ | 94,000 | 1464 | ||||
GRF | 195-501 | Appalachian Local Development Districts | $ | 380,080 | $ | 380,080 | 1465 | ||||
GRF | 195-502 | Appalachian Regional Commission Dues | $ | 246,803 | $ | 246,803 | 1466 | ||||
GRF | 195-507 | Travel and Tourism Grants | $ | 1,287,500 | $ | 1,162,500 | 1467 | ||||
GRF | 195-515 | Economic Development Contingency | $ | 10,000,000 | $ | 0 | 1468 | ||||
GRF | 195-905 | Third Frontier Research & |
$ | 0 | $ | 13,910,000 | 1469 | ||||
GRF | 195-912 | Job Ready Site Development General Obligation Debt Service | $ | 0 | $ | 4,124,400 | 1470 | ||||
TOTAL GRF General Revenue Fund | $ | 99,797,446 | $ | 1471 |
General Services Fund Group | 1472 |
135 | 195-605 | Supportive Services | $ | 7,450,000 | $ | 7,539,686 | 1473 | ||||
5AD | 195-667 | Investment in Training Expansion | $ | 5,000,000 | $ | 5,000,000 | 1474 | ||||
5AD | 195-668 | Worker Guarantee Program | $ | 3,000,000 | $ | 3,000,000 | 1475 | ||||
5AD | 195-677 | Economic Development Contingency | $ | 0 | $ | 10,000,000 | 1476 | ||||
685 | 195-636 | General Reimbursements | $ | 1,000,000 | $ | 1,000,000 | 1477 | ||||
TOTAL GSF General Services Fund | 1478 | ||||||||||
Group | $ | 16,450,000 | $ | 26,539,686 | 1479 |
Federal Special Revenue Fund Group | 1480 |
3AE | 195-643 | Workforce Development Initiatives | $ | 5,800,000 | $ | 5,800,000 | 1481 | ||||
3K8 | 195-613 | Community Development Block Grant | $ | 65,000,000 | $ | 65,000,000 | 1482 | ||||
3K9 | 195-611 | Home Energy Assistance Block Grant | $ | 90,500,000 | $ | 90,500,000 | 1483 | ||||
3K9 | 195-614 | HEAP Weatherization | $ | 16,219,478 | $ | 16,219,478 | 1484 | ||||
3L0 | 195-612 | Community Services Block Grant | $ | 25,235,000 | $ | 25,235,000 | 1485 | ||||
3V1 | 195-601 | HOME Program | $ | 40,000,000 | $ | 40,000,000 | 1486 | ||||
308 | 195-602 | Appalachian Regional Commission | $ | 600,660 | $ | 600,660 | 1487 | ||||
308 | 195-603 | Housing and Urban Development | $ | 5,000,000 | $ | 5,000,000 | 1488 | ||||
308 | 195-605 | Federal Projects | $ | 15,300,249 | $ | 15,300,249 | 1489 | ||||
308 | 195-609 | Small Business Administration | $ | 4,296,381 | $ | 4,296,381 | 1490 | ||||
308 | 195-618 | Energy Federal Grants | $ | 3,397,659 | $ | 3,397,659 | 1491 | ||||
335 | 195-610 | Oil Overcharge | $ | 3,000,000 | $ | 3,000,000 | 1492 | ||||
TOTAL FED Federal Special Revenue | 1493 | ||||||||||
Fund Group | $ | 274,349,427 | $ | 274,349,427 | 1494 |
State Special Revenue Fund Group | 1495 |
4F2 | 195-639 | State Special Projects | $ | 290,183 | $ | 290,183 | 1496 | ||||
4F2 | 195-676 | Promote Ohio | $ | 5,228,210 | $ | 5,228,210 | 1497 | ||||
4S0 | 195-630 | Enterprise Zone Operating | $ | 275,000 | $ | 275,000 | 1498 | ||||
4S1 | 195-634 | Job Creation Tax Credit Operating | $ | 375,800 | $ | 375,800 | 1499 | ||||
4W1 | 195-646 | Minority Business Enterprise Loan | $ | 2,580,597 | $ | 2,580,597 | 1500 | ||||
444 | 195-607 | Water and Sewer Commission Loans | $ | 523,775 | $ | 523,775 | 1501 | ||||
450 | 195-624 | Minority Business Bonding Program Administration | $ | 53,967 | $ | 53,967 | 1502 | ||||
451 | 195-625 | Economic Development Financing Operating | $ | 2,358,311 | $ | 2,358,311 | 1503 | ||||
5CA | 195-678 | Shovel Ready Sites | $ | 5,000,000 | $ | 5,000,000 | 1504 | ||||
5CG | 195-679 | Alternative Fuel Transportation | $ | 150,000 | $ | 150,000 | 1505 | ||||
5CV | 195-680 | Defense Conversion Assistance | $ | 1,000,000 | $ | 0 | 1506 | ||||
5CY | 195-682 | Lung Cancer and Lung Disease Research | $ | 10,000,000 | $ | 0 | 1507 | ||||
5M4 | 195-659 | Universal Service | $ | 210,000,000 | $ | 210,000,000 | 1508 | ||||
5M5 | 195-660 | Energy Efficiency Loan and Grant | $ | 12,000,000 | $ | 12,000,000 | 1509 | ||||
5X1 | 195-651 | Exempt Facility Inspection | $ | 25,000 | $ | 25,000 | 1510 | ||||
611 | 195-631 | Water and Sewer Administration | $ | 15,713 | $ | 15,713 | 1511 | ||||
617 | 195-654 | Volume Cap Administration | $ | 200,000 | $ | 200,000 | 1512 | ||||
646 | 195-638 | Low- and Moderate- Income Housing Trust Fund | $ | 53,000,000 | $ | 53,000,000 | 1513 | ||||
TOTAL SSR State Special Revenue | 1514 | ||||||||||
Fund Group | $ | 303,076,556 | $ | 292,076,556 | 1515 |
Facilities Establishment Fund Group | 1516 |
009 | 195-664 | Innovation Ohio | $ | 50,000,000 | $ | 50,000,000 | 1517 | ||||
010 | 195-665 | Research and Development | $ | 50,000,000 | $ | 50,000,000 | 1518 | ||||
037 | 195-615 | Facilities Establishment | $ | 63,931,149 | $ | 63,931,149 | 1519 | ||||
4Z6 | 195-647 | Rural Industrial Park Loan | $ | 3,000,000 | $ | 3,000,000 | 1520 | ||||
5D2 | 195-650 | Urban Redevelopment Loans | $ | 5,475,000 | $ | 5,475,000 | 1521 | ||||
5H1 | 195-652 | Family Farm Loan Guarantee | $ | 1,000,000 | $ | 1,000,000 | 1522 | ||||
5S8 | 195-627 | Rural Development Initiative | $ | 3,000,000 | $ | 3,000,000 | 1523 | ||||
5S9 | 195-628 | Capital Access Loan Program | $ | 3,000,000 | $ | 3,000,000 | 1524 | ||||
TOTAL 037 Facilities | 1525 | ||||||||||
Establishment Fund Group | $ | 179,406,149 | $ | 179,406,149 | 1526 |
Clean Ohio Revitalization Fund | 1527 |
003 | 195-663 | Clean Ohio Operating | $ | 350,000 | $ | 350,000 | 1528 | ||||
TOTAL 003 Clean Ohio Revitalization Fund | $ | 350,000 | $ | 350,000 | 1529 |
Third Frontier Research & Development Fund Group | 1530 |
011 | 195-686 | Third Frontier Operating | $ | 713,028 | $ | 1,932,056 | 1531 | ||||
011 | 195-687 | Third Frontier Research & Development Projects | $ | 100,000,000 | $ | 100,000,000 | 1532 | ||||
TOTAL 011 Third Frontier Research & Development Fund Group | $ | 100,713,028 | $ | 101,932,056 | 1533 |
Job Ready Site Development Fund Group | 1534 |
012 | 195-688 | Job Ready Site Operating | $ | 622,200 | $ | 746,155 | 1535 | ||||
TOTAL 012 Job Ready Site Development Fund Group | $ | 622,200 | $ | 746,155 | 1536 |
TOTAL ALL BUDGET FUND GROUPS | $ | $ | 1537 |
Sec. 203.99.33. THIRD FRONTIER RESEARCH & | 1539 |
DEVELOPMENT GENERAL OBLIGATION DEBT SERVICE | 1540 |
The foregoing appropriation item 195-905, Third Frontier | 1541 |
Research & | 1542 |
Service, shall be used to pay all debt service and related | 1543 |
financing costs during the period from July 1, 2005, to June 30, | 1544 |
2007, on obligations to be issued for research and development | 1545 |
purposes | 1546 |
1547 | |
Office of the Sinking Fund or the Director of Budget and | 1548 |
Management shall effectuate the required payments by intrastate | 1549 |
transfer voucher. | 1550 |
JOB READY SITE DEVELOPMENT GENERAL OBLIGATION DEBT SERVICE | 1551 |
The foregoing appropriation item 195-912, Job Ready Site | 1552 |
Development General Obligation Debt Service, shall be used to pay | 1553 |
all debt service and related financing costs during the period | 1554 |
from July 1, 2005, to June 30, 2007, on obligations to be issued | 1555 |
for job ready site development purposes under sections 151.01 and | 1556 |
151.11 of the Revised Code. The Office of the Sinking Fund or the | 1557 |
Director of Budget and Management shall effectuate the required | 1558 |
payments by intrastate transfer voucher. | 1559 |
Sec. 203.99.51. CLEAN OHIO OPERATING EXPENSES | 1560 |
The foregoing appropriation item 195-663, Clean Ohio | 1561 |
Operating, shall be used by the Department of Development in | 1562 |
administering sections 122.65 to 122.658 of the Revised Code. | 1563 |
THIRD FRONTIER OPERATING | 1564 |
The foregoing appropriation item 195-686, Third Frontier | 1565 |
Operating, shall be used for operating expenses incurred by the | 1566 |
Department of Development in administering sections 184.10 to | 1567 |
184.19 of the Revised Code. | 1568 |
THIRD FRONTIER RESEARCH & DEVELOPMENT PROJECTS | 1569 |
The foregoing appropriation item 195-687, Third Frontier | 1570 |
Research & Development Projects, shall be used by the Department | 1571 |
of Development to fund selected projects pursuant to sections | 1572 |
184.10 to 184.19 of the Revised Code. | 1573 |
On or before June 30, 2006, any unencumbered balance of the | 1574 |
foregoing appropriation item 195-687, Third Frontier Research & | 1575 |
Development Projects, for fiscal year 2006 is hereby appropriated | 1576 |
for the same purpose for fiscal year 2007. | 1577 |
AUTHORITY TO ISSUE AND SELL ORIGINAL OBLIGATIONS | 1578 |
The Ohio Public Facilities Commission, upon request of the | 1579 |
Department of Development, is hereby authorized to issue and sell, | 1580 |
in accordance with Section 2p of Article VIII, Ohio Constitution, | 1581 |
and particularly sections 151.01 and 151.10 of the Revised Code, | 1582 |
original obligations of the State of Ohio in an aggregate amount | 1583 |
not to exceed $200,000,000. The authorized obligations shall be | 1584 |
issued and sold from time to time and in amounts necessary to | 1585 |
ensure sufficient moneys to the credit of the Third Frontier | 1586 |
Research & Development Fund (Fund 011) to pay costs of research | 1587 |
and development projects. | 1588 |
JOB READY SITE OPERATING | 1589 |
The foregoing appropriation item 195-688, Job Ready Site | 1590 |
Operating, shall be used for operating expenses incurred by the | 1591 |
Department of Development in administering sections 122.085 to | 1592 |
122.0820 of the Revised Code. Operating expenses include, but are | 1593 |
not limited to, certain expenses of the District Public Works | 1594 |
Integrating Committees, audit and accountability activities, and | 1595 |
costs associated with formal certifications verifying that site | 1596 |
infrastructure is in place and is functional. | 1597 |
Sec. 209.99. CSF COMMISSIONERS OF THE SINKING FUND | 1598 |
Debt Service Fund Group | 1599 |
070 | 155-905 | Third Frontier Research & Development Projects Bond Service Fund | $ | 0 | $ | 13,910,000 | 1600 | ||||
072 | 155-902 | Highway Capital Improvements Bond Retirement Fund | $ | 180,620,600 | $ | 196,464,900 | 1601 | ||||
073 | 155-903 | Natural Resources Bond Retirement Fund | $ | 26,166,000 | $ | 24,659,100 | 1602 | ||||
074 | 155-904 | Conservation Projects Bond Service Fund | $ | 14,687,300 | $ | 17,668,800 | 1603 | ||||
076 | 155-906 | Coal Research and Development Bond Retirement Fund | $ | 7,071,100 | $ | 8,980,800 | 1604 | ||||
077 | 155-907 | State Capital Improvements Bond Retirement Fund | $ | 163,131,400 | $ | 174,545,100 | 1605 | ||||
078 | 155-908 | Common Schools Bond Retirement Fund | $ | 200,724,700 | $ | 236,911,500 | 1606 | ||||
079 | 155-909 | Higher Education Bond Retirement Fund | $ | 140,600,300 | $ | 158,114,100 | 1607 | ||||
090 | 155-912 | Job Ready Site Development Bond Service Fund | $ | 0 | $ | 4,124,400 | 1608 | ||||
TOTAL DSF Debt Service Fund Group | $ | 733,001,400 | $ | 1609 | |||||||
TOTAL ALL BUDGET FUND GROUPS | $ | 733,001,400 | $ | 1610 |
ADDITIONAL APPROPRIATIONS | 1611 |
Appropriation items in this section are for the purpose of | 1612 |
paying debt service and financing costs on bonds or notes of the | 1613 |
state issued under the Ohio Constitution and acts of the General | 1614 |
Assembly. If it is determined that additional appropriations are | 1615 |
necessary for this purpose, such amounts are appropriated. | 1616 |
COMMISSIONER OF THE SINKING FUND HIGHWAY BOND TRANSFER | 1617 |
AUTHORIZATION | 1618 |
Notwithstanding any other provision of law to the contrary, | 1619 |
the Commissioners of the Sinking Fund shall certify to the | 1620 |
Director of Budget and Management, and the director shall then | 1621 |
transfer, the cash balance remaining after provision for the | 1622 |
payment of all outstanding bonds, notes, coupons, and charges from | 1623 |
the Highway Obligation Bond Retirement Fund (Fund 071) to the | 1624 |
Highway Capital Improvements Bond Service Fund (Fund 072), created | 1625 |
by section 151.06 of the Revised Code, as expeditiously as | 1626 |
possible after the effective date of this section. | 1627 |
Section 5. That existing Sections 203.99, 203.99.33, | 1628 |
203.99.51, and 209.99 of Am. Sub. H.B. 66 of the 126th General | 1629 |
Assembly are hereby repealed. | 1630 |
Section 6. All items set forth in this section are hereby | 1631 |
appropriated out of any moneys in the state treasury to the credit | 1632 |
of the Job Ready Site Development Fund (Fund 012) that are not | 1633 |
otherwise appropriated. The appropriations made in this section | 1634 |
are in addition to any other capital appropriations made for the | 1635 |
2004-2006 biennium. | 1636 |
Appropriations |
1637 |
CAP-003 | Job Ready Site Development | $ | 30,000,000 | 1638 | |||
TOTAL Department of Development | $ | 30,000,000 | 1639 | ||||
TOTAL Job Ready Site Development Fund | $ | 30,000,000 | 1640 |
JOB READY SITE DEVELOPMENT | 1641 |
The foregoing appropriation item CAP-003, Job Ready Site | 1642 |
Development, shall be used by the Department of Development in | 1643 |
accordance with sections 122.085 to 122.0820 of the Revised Code | 1644 |
and is subject to all provisions of Am. Sub. H.B. 16 of the 126th | 1645 |
General Assembly that are generally applicable to capital | 1646 |
appropriations. | 1647 |
Section 7. The Ohio Public Facilities Commission, upon | 1648 |
request of the Department of Development, is hereby authorized to | 1649 |
issue and sell, in accordance with Section 2p of Article VIII, | 1650 |
Ohio Constitution, and particularly sections 151.01 and 151.11 of | 1651 |
the Revised Code, original obligations of the State of Ohio in an | 1652 |
aggregate amount not to exceed $30,000,000. The authorized | 1653 |
obligations shall be issued and sold from time to time and in | 1654 |
amounts necessary to ensure sufficient moneys to the credit of the | 1655 |
Job Ready Site Development Fund (Fund 012) to pay costs of sites | 1656 |
and facilities. | 1657 |
Section 8. Except as otherwise specifically provided in this | 1658 |
act, a codified or uncodified section of law contained in this act | 1659 |
is not subject to the referendum. Therefore, under Ohio | 1660 |
Constitution, Article II, Section 1d and section 1.471 of the | 1661 |
Revised Code, the codified and uncodified sections of law in this | 1662 |
act, except as otherwise specifically provided in this act, go | 1663 |
into immediate effect when this act becomes law. | 1664 |
Section 9. Sections 6 and 7 of this act are subject to the | 1665 |
referendum. Therefore, under Ohio Constitution, Article II, | 1666 |
Section 1c and section 1.471 of the Revised Code, those sections | 1667 |
take effect on the ninety-first day after this act is filed with | 1668 |
the Secretary of State. If, however, a referendum petition is | 1669 |
filed against the sections as enacted, those sections, unless | 1670 |
rejected at the referendum, take effect at the earliest time | 1671 |
permitted by law. | 1672 |