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| To enact section 731.60 of the Revised Code to | 1 |
| authorize municipal corporations to have a deficit | 2 |
| in special funds under certain circumstances. | 3 |
| Section 1. That section 731.60 of the Revised Code be enacted | 4 |
| to read as follows: | 5 |
| Sec. 731.60. A municipal corporation may have a deficit in | 6 |
| any special fund of the municipal corporation only if both of the | 7 |
| following conditions are satisfied: | 8 |
| (A) The municipal corporation has a request for payment | 9 |
| pending with the state or federal government sufficient to cover | 10 |
| the amount of the deficit and there is a reasonable likelihood | 11 |
| that the payment will be made; and | 12 |
| (B) The unspent and unencumbered balance in the municipal | 13 |
| corporation's general fund is greater than the aggregate of | 14 |
| deficit amounts in all of the municipal corporation's special | 15 |
| funds. | 16 |