As Introduced

130th General Assembly Regular Session 2013-2014

H. B. No. 494

Representative Schuring 

Cosponsors: Representatives Hagan, C., Slesnick, Slaby, Amstutz, Landis, Barborak, Blair, Boose, Brown, Burkley, Damschroder, Grossman, Hackett, Hill, Maag, Young, Adams, R., Hottinger, Williams 

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A BILL

To amend sections 133.01, 4504.08, and 4504.09 and to

1

enact sections 4504.22 and 5595.01 to 5595.12 of

2

the Revised Code to authorize counties to

3

undertake regional transportation improvement

4

projects funded by the issuance of securities and

5

by revenue pledges from the state and political

6

subdivisions and taxing districts located within

7

the cooperating counties.

8

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

Section 1.  That sections 133.01, 4504.08, and 4504.09 be	9
amended and sections 4504.22, 5595.01, 5595.02, 5595.03, 5595.04,	10
5595.05, 5595.06, 5595.07, 5595.08, 5595.09, 5595.10, 5595.11, and	11
5595.12 of the Revised Code be enacted to read as follows:	12

Sec. 133.01.  As used in this chapter, in sections 9.95,	13
9.96, and 2151.655 of the Revised Code, in other sections of the	14
Revised Code that make reference to this chapter unless the	15
context does not permit, and in related proceedings, unless	16
otherwise expressly provided:	17

(A) "Acquisition" as applied to real or personal property	18
includes, among other forms of acquisition, acquisition by	19
exercise of a purchase option, and acquisition of interests in	20
property, including, without limitation, easements and	21
rights-of-way, and leasehold and other lease interests initially	22
extending or extendable for a period of at least sixty months.	23

(B) "Anticipatory securities" means securities, including	24
notes, issued in anticipation of the issuance of other securities.	25

(C) "Board of elections" means the county board of elections	26
of the county in which the subdivision is located. If the	27
subdivision is located in more than one county, "board of	28
elections" means the county board of elections of the county that	29
contains the largest portion of the population of the subdivision	30
or that otherwise has jurisdiction in practice over and	31
customarily handles election matters relating to the subdivision.	32

(D) "Bond retirement fund" means the bond retirement fund	33
provided for in section 5705.09 of the Revised Code, and also	34
means a sinking fund or any other special fund, regardless of the	35
name applied to it, established by or pursuant to law or the	36
proceedings for the payment of debt charges. Provision may be made	37
in the applicable proceedings for the establishment in a bond	38
retirement fund of separate accounts relating to debt charges on	39
particular securities, or on securities payable from the same or	40
common sources, and for the application of moneys in those	41
accounts only to specified debt charges on specified securities or	42
categories of securities. Subject to law and any provisions in the	43
applicable proceedings, moneys in a bond retirement fund or	44
separate account in a bond retirement fund may be transferred to	45
other funds and accounts.	46

(E) "Capitalized interest" means all or a portion of the	47
interest payable on securities from their date to a date stated or	48
provided for in the applicable legislation, which interest is to	49
be paid from the proceeds of the securities.	50

(F) "Chapter 133. securities" means securities authorized by	51
or issued pursuant to or in accordance with this chapter.	52

(G) "County auditor" means the county auditor of the county	53
in which the subdivision is located. If the subdivision is located	54
in more than one county, "county auditor" means the county auditor	55
of the county that contains the highest amount of the tax	56
valuation of the subdivision or that otherwise has jurisdiction in	57
practice over and customarily handles property tax matters	58
relating to the subdivision. In the case of a county that has	59
adopted a charter, "county auditor" means the officer who	60
generally has the duties and functions provided in the Revised	61
Code for a county auditor.	62

(H) "Credit enhancement facilities" means letters of credit,	63
lines of credit, stand-by, contingent, or firm securities purchase	64
agreements, insurance, or surety arrangements, guarantees, and	65
other arrangements that provide for direct or contingent payment	66
of debt charges, for security or additional security in the event	67
of nonpayment or default in respect of securities, or for making	68
payment of debt charges to and at the option and on demand of	69
securities holders or at the option of the issuer or upon certain	70
conditions occurring under put or similar arrangements, or for	71
otherwise supporting the credit or liquidity of the securities,	72
and includes credit, reimbursement, marketing, remarketing,	73
indexing, carrying, interest rate hedge, and subrogation	74
agreements, and other agreements and arrangements for payment and	75
reimbursement of the person providing the credit enhancement	76
facility and the security for that payment and reimbursement.	77

(I) "Current operating expenses" or "current expenses" means	78
the lawful expenditures of a subdivision, except those for	79
permanent improvements and for payments of debt charges of the	80
subdivision.	81

(J) "Debt charges" means the principal, including any	82
mandatory sinking fund deposits and mandatory redemption payments,	83
interest, and any redemption premium, payable on securities as	84
those payments come due and are payable. The use of "debt charges"	85
for this purpose does not imply that any particular securities	86
constitute debt within the meaning of the Ohio Constitution or	87
other laws.	88

(K) "Financing costs" means all costs and expenses relating	89
to the authorization, including any required election, issuance,	90
sale, delivery, authentication, deposit, custody, clearing,	91
registration, transfer, exchange, fractionalization, replacement,	92
payment, and servicing of securities, including, without	93
limitation, costs and expenses for or relating to publication and	94
printing, postage, delivery, preliminary and final official	95
statements, offering circulars, and informational statements,	96
travel and transportation, underwriters, placement agents,	97
investment bankers, paying agents, registrars, authenticating	98
agents, remarketing agents, custodians, clearing agencies or	99
corporations, securities depositories, financial advisory	100
services, certifications, audits, federal or state regulatory	101
agencies, accounting and computation services, legal services and	102
obtaining approving legal opinions and other legal opinions,	103
credit ratings, redemption premiums, and credit enhancement	104
facilities. Financing costs may be paid from any moneys available	105
for the purpose, including, unless otherwise provided in the	106
proceedings, from the proceeds of the securities to which they	107
relate and, as to future financing costs, from the same sources	108
from which debt charges on the securities are paid and as though	109
debt charges.	110

(L) "Fiscal officer" means the following, or, in the case of	111
absence or vacancy in the office, a deputy or assistant authorized	112
by law or charter to act in the place of the named officer, or if	113
there is no such authorization then the deputy or assistant	114
authorized by legislation to act in the place of the named officer	115
for purposes of this chapter, in the case of the following	116
subdivisions:	117

(1) A county, the county auditor;

118

(2) A municipal corporation, the city auditor or village	119
clerk or clerk-treasurer, or the officer who, by virtue of a	120
charter, has the duties and functions provided in the Revised Code	121
for the city auditor or village clerk or clerk-treasurer;	122

(3) A school district, the treasurer of the board of	123
education;	124

(4) A regional water and sewer district, the secretary of the	125
board of trustees;	126

(5) A joint township hospital district, the treasurer of the	127
district;	128

(6) A joint ambulance district, the clerk of the board of	129
trustees;	130

(7) A joint recreation district, the person designated	131
pursuant to section 755.15 of the Revised Code;	132

(8) A detention facility district or a district organized	133
under section 2151.65 of the Revised Code or a combined district	134
organized under sections 2152.41 and 2151.65 of the Revised Code,	135
the county auditor of the county designated by law to act as the	136
auditor of the district;	137

(9) A township, a fire district organized under division (C)	138
of section 505.37 of the Revised Code, or a township police	139
district, the fiscal officer of the township;	140

(10) A joint fire district, the clerk of the board of	141
trustees of that district;	142

(11) A regional or county library district, the person	143
responsible for the financial affairs of that district;	144

(12) A joint solid waste management district, the fiscal	145
officer appointed by the board of directors of the district under	146
section 343.01 of the Revised Code;	147

(13) A joint emergency medical services district, the person	148
appointed as fiscal officer pursuant to division (D) of section	149
307.053 of the Revised Code;	150

(14) A fire and ambulance district, the person appointed as	151
fiscal officer under division (B) of section 505.375 of the	152
Revised Code;	153

(15) A subdivision described in division (MM)(19) of this	154
section, the officer who is designated by law as or performs the	155
functions of its chief fiscal officer;	156

(16) A joint police district, the treasurer of the district;

157

(17) A lake facilities authority, the fiscal officer	158
designated under section 353.02 of the Revised Code;	159

(18) A regional transportation improvement project, the	160
county auditor designated under section 5595.10 of the Revised	161
Code.	162

(M) "Fiscal year" has the same meaning as in section 9.34 of	163
the Revised Code.	164

(N) "Fractionalized interests in public obligations" means	165
participations, certificates of participation, shares, or other	166
instruments or agreements, separate from the public obligations	167
themselves, evidencing ownership of interests in public	168
obligations or of rights to receive payments of, or on account of,	169
principal or interest or their equivalents payable by or on behalf	170
of an obligor pursuant to public obligations.	171

(O) "Fully registered securities" means securities in	172
certificated or uncertificated form, registered as to both	173
principal and interest in the name of the owner.	174

(P) "Fund" means to provide for the payment of debt charges	175
and expenses related to that payment at or prior to retirement by	176
purchase, call for redemption, payment at maturity, or otherwise.	177

(Q) "General obligation" means securities to the payment of	178
debt charges on which the full faith and credit and the general	179
property taxing power, including taxes within the tax limitation	180
if available to the subdivision, of the subdivision are pledged.	181

(R) "Interest" or "interest equivalent" means those payments	182
or portions of payments, however denominated, that constitute or	183
represent consideration for forbearing the collection of money, or	184
for deferring the receipt of payment of money to a future time.	185

(S) "Internal Revenue Code" means the "Internal Revenue Code	186
of 1986," 100 Stat. 2085, 26 U.S.C.A. 1 et seq., as amended, and	187
includes any laws of the United States providing for application	188
of that code.	189

(T) "Issuer" means any public issuer and any nonprofit	190
corporation authorized to issue securities for or on behalf of any	191
public issuer.	192

(U) "Legislation" means an ordinance or resolution passed by	193
a majority affirmative vote of the then members of the taxing	194
authority unless a different vote is required by charter	195
provisions governing the passage of the particular legislation by	196
the taxing authority.	197

(V) "Mandatory sinking fund redemption requirements" means	198
amounts required by proceedings to be deposited in a bond	199
retirement fund for the purpose of paying in any year or fiscal	200
year by mandatory redemption prior to stated maturity the	201
principal of securities that is due and payable, except for	202
mandatory prior redemption requirements as provided in those	203
proceedings, in a subsequent year or fiscal year.	204

(W) "Mandatory sinking fund requirements" means amounts	205
required by proceedings to be deposited in a year or fiscal year	206
in a bond retirement fund for the purpose of paying the principal	207
of securities that is due and payable in a subsequent year or	208
fiscal year.	209

(X) "Net indebtedness" has the same meaning as in division	210
(A) of section 133.04 of the Revised Code.	211

(Y) "Obligor," in the case of securities or fractionalized	212
interests in public obligations issued by another person the debt	213
charges or their equivalents on which are payable from payments	214
made by a public issuer, means that public issuer.	215

(Z) "One purpose" relating to permanent improvements means	216
any one permanent improvement or group or category of permanent	217
improvements for the same utility, enterprise, system, or project,	218
development or redevelopment project, or for or devoted to the	219
same general purpose, function, or use or for which	220
self-supporting securities, based on the same or different sources	221
of revenues, may be issued or for which special assessments may be	222
levied by a single ordinance or resolution. "One purpose"	223
includes, but is not limited to, in any case any off-street	224
parking facilities relating to another permanent improvement, and:	225

(1) Any number of roads, highways, streets, bridges,	226
sidewalks, and viaducts;	227

(2) Any number of off-street parking facilities;

228

(3) In the case of a county, any number of permanent	229
improvements for courthouse, jail, county offices, and other	230
county buildings, and related facilities;	231

(4) In the case of a school district, any number of	232
facilities and buildings for school district purposes, and related	233
facilities.	234

(AA) "Outstanding," referring to securities, means securities	235
that have been issued, delivered, and paid for, except any of the	236
following:	237

(1) Securities canceled upon surrender, exchange, or	238
transfer, or upon payment or redemption;	239

(2) Securities in replacement of which or in exchange for	240
which other securities have been issued;	241

(3) Securities for the payment, or redemption or purchase for	242
cancellation prior to maturity, of which sufficient moneys or	243
investments, in accordance with the applicable legislation or	244
other proceedings or any applicable law, by mandatory sinking fund	245
redemption requirements, mandatory sinking fund requirements, or	246
otherwise, have been deposited, and credited for the purpose in a	247
bond retirement fund or with a trustee or paying or escrow agent,	248
whether at or prior to their maturity or redemption, and, in the	249
case of securities to be redeemed prior to their stated maturity,	250
notice of redemption has been given or satisfactory arrangements	251
have been made for giving notice of that redemption, or waiver of	252
that notice by or on behalf of the affected security holders has	253
been filed with the subdivision or its agent for the purpose.	254

(BB) "Paying agent" means the one or more banks, trust	255
companies, or other financial institutions or qualified persons,	256
including an appropriate office or officer of the subdivision,	257
designated as a paying agent or place of payment of debt charges	258
on the particular securities.	259

(CC) "Permanent improvement" or "improvement" means any	260
property, asset, or improvement certified by the fiscal officer,	261
which certification is conclusive, as having an estimated life or	262
period of usefulness of five years or more, and includes, but is	263
not limited to, real estate, buildings, and personal property and	264
interests in real estate, buildings, and personal property,	265
equipment, furnishings, and site improvements, and reconstruction,	266
rehabilitation, renovation, installation, improvement,	267
enlargement, and extension of property, assets, or improvements so	268
certified as having an estimated life or period of usefulness of	269
five years or more. The acquisition of all the stock ownership of	270
a corporation is the acquisition of a permanent improvement to the	271
extent that the value of that stock is represented by permanent	272
improvements. A permanent improvement for parking, highway, road,	273
and street purposes includes resurfacing, but does not include	274
ordinary repair.	275

(DD) "Person" has the same meaning as in section 1.59 of the	276
Revised Code and also includes any federal, state, interstate,	277
regional, or local governmental agency, any subdivision, and any	278
combination of those persons.	279

(EE) "Proceedings" means the legislation, certifications,	280
notices, orders, sale proceedings, trust agreement or indenture,	281
mortgage, lease, lease-purchase agreement, assignment, credit	282
enhancement facility agreements, and other agreements,	283
instruments, and documents, as amended and supplemented, and any	284
election proceedings, authorizing, or providing for the terms and	285
conditions applicable to, or providing for the security or sale or	286
award of, public obligations, and includes the provisions set	287
forth or incorporated in those public obligations and proceedings.	288

(FF) "Public issuer" means any of the following that is	289
authorized by law to issue securities or enter into public	290
obligations:	291

(1) The state, including an agency, commission, officer,	292
institution, board, authority, or other instrumentality of the	293
state;	294

(2) A taxing authority, subdivision, district, or other local	295
public or governmental entity, and any combination or consortium,	296
or public division, district, commission, authority, department,	297
board, officer, or institution, thereof;	298

(3) Any other body corporate and politic, or other public	299
entity.	300

(GG) "Public obligations" means both of the following:

301

(1) Securities;

302

(2) Obligations of a public issuer to make payments under	303
installment sale, lease, lease purchase, or similar agreements,	304
which obligations may bear interest or interest equivalent.	305

(HH) "Refund" means to fund and retire outstanding	306
securities, including advance refunding with or without payment or	307
redemption prior to maturity.	308

(II) "Register" means the books kept and maintained by the	309
registrar for registration, exchange, and transfer of registered	310
securities.	311

(JJ) "Registrar" means the person responsible for keeping the	312
register for the particular registered securities, designated by	313
or pursuant to the proceedings.	314

(KK) "Securities" means bonds, notes, certificates of	315
indebtedness, commercial paper, and other instruments in writing,	316
including, unless the context does not admit, anticipatory	317
securities, issued by an issuer to evidence its obligation to	318
repay money borrowed, or to pay interest, by, or to pay at any	319
future time other money obligations of, the issuer of the	320
securities, but not including public obligations described in	321
division (GG)(2) of this section.	322

(LL) "Self-supporting securities" means securities or	323
portions of securities issued for the purpose of paying costs of	324
permanent improvements to the extent that receipts of the	325
subdivision, other than the proceeds of taxes levied by that	326
subdivision, derived from or with respect to the improvements or	327
the operation of the improvements being financed, or the	328
enterprise, system, project, or category of improvements of which	329
the improvements being financed are part, are estimated by the	330
fiscal officer to be sufficient to pay the current expenses of	331
that operation or of those improvements or enterprise, system,	332
project, or categories of improvements and the debt charges	333
payable from those receipts on securities issued for the purpose.	334
Until such time as the improvements or increases in rates and	335
charges have been in operation or effect for a period of at least	336
six months, the receipts therefrom, for purposes of this	337
definition, shall be those estimated by the fiscal officer, except	338
that those receipts may include, without limitation, payments made	339
and to be made to the subdivision under leases or agreements in	340
effect at the time the estimate is made. In the case of an	341
operation, improvements, or enterprise, system, project, or	342
category of improvements without at least a six-month history of	343
receipts, the estimate of receipts by the fiscal officer, other	344
than those to be derived under leases and agreements then in	345
effect, shall be confirmed by the taxing authority.	346

(MM) "Subdivision" means any of the following:

347

(1) A county, including a county that has adopted a charter	348
under Article X, Ohio Constitution;	349

(2) A municipal corporation, including a municipal	350
corporation that has adopted a charter under Article XVIII, Ohio	351
Constitution;	352

(3) A school district;

353

(4) A regional water and sewer district organized under	354
Chapter 6119. of the Revised Code;	355

(5) A joint township hospital district organized under	356
section 513.07 of the Revised Code;	357

(6) A joint ambulance district organized under section 505.71	358
of the Revised Code;	359

(7) A joint recreation district organized under division (C)	360
of section 755.14 of the Revised Code;	361

(8) A detention facility district organized under section	362
2152.41, a district organized under section 2151.65, or a combined	363
district organized under sections 2152.41 and 2151.65 of the	364
Revised Code;	365

(9) A township police district organized under section 505.48	366
of the Revised Code;	367

(10) A township;

368

(11) A joint fire district organized under section 505.371 of	369
the Revised Code;	370

(12) A county library district created under section 3375.19	371
or a regional library district created under section 3375.28 of	372
the Revised Code;	373

(13) A joint solid waste management district organized under	374
section 343.01 or 343.012 of the Revised Code;	375

(14) A joint emergency medical services district organized	376
under section 307.052 of the Revised Code;	377

(15) A fire and ambulance district organized under section	378
505.375 of the Revised Code;	379

(16) A fire district organized under division (C) of section	380
505.37 of the Revised Code;	381

(17) A joint police district organized under section 505.482	382
of the Revised Code;	383

(18) A lake facilities authority created under Chapter 353.	384
of the Revised Code;	385

(19) A regional transportation improvement project created	386
under Chapter 5595. of the Revised Code;	387

(20) Any other political subdivision or taxing district or	388
other local public body or agency authorized by this chapter or	389
other laws to issue Chapter 133. securities.	390

(NN) "Taxing authority" means in the case of the following	391
subdivisions:	392

(1) A county, a county library district, or a regional	393
library district, the board or boards of county commissioners, or	394
other legislative authority of a county that has adopted a charter	395
under Article X, Ohio Constitution, but with respect to such a	396
library district acting solely as agent for the board of trustees	397
of that district;	398

(2) A municipal corporation, the legislative authority;

399

(3) A school district, the board of education;

400

(4) A regional water and sewer district, a joint ambulance	401
district, a joint recreation district, a fire and ambulance	402
district, or a joint fire district, the board of trustees of the	403
district;	404

(5) A joint township hospital district, the joint township	405
hospital board;	406

(6) A detention facility district or a district organized	407
under section 2151.65 of the Revised Code, a combined district	408
organized under sections 2152.41 and 2151.65 of the Revised Code,	409
or a joint emergency medical services district, the joint board of	410
county commissioners;	411

(7) A township, a fire district organized under division (C)	412
of section 505.37 of the Revised Code, or a township police	413
district, the board of township trustees;	414

(8) A joint solid waste management district organized under	415
section 343.01 or 343.012 of the Revised Code, the board of	416
directors of the district;	417

(9) A subdivision described in division (MM)(19) of this	418
section, the legislative or governing body or official;	419

(10) A joint police district, the joint police district	420
board;	421

(11) A lake facilities authority, the board of directors;

422

(12) A regional transportation improvement project, the	423
governing board.	424

(OO) "Tax limitation" means the "ten-mill limitation" as	425
defined in section 5705.02 of the Revised Code without diminution	426
by reason of section 5705.313 of the Revised Code or otherwise,	427
or, in the case of a municipal corporation or county with a	428
different charter limitation on property taxes levied to pay debt	429
charges on unvoted securities, that charter limitation. Those	430
limitations shall be respectively referred to as the "ten-mill	431
limitation" and the "charter tax limitation."	432

(PP) "Tax valuation" means the aggregate of the valuations of	433
property subject to ad valorem property taxation by the	434
subdivision on the real property, personal property, and public	435
utility property tax lists and duplicates most recently certified	436
for collection, and shall be calculated without deductions of the	437
valuations of otherwise taxable property exempt in whole or in	438
part from taxation by reason of exemptions of certain amounts of	439
taxable value under division (C) of section 5709.01, tax	440
reductions under section 323.152 of the Revised Code, or similar	441
laws now or in the future in effect.	442

For purposes of section 133.06 of the Revised Code, "tax	443
valuation" shall not include the valuation of tangible personal	444
property used in business, telephone or telegraph property,	445
interexchange telecommunications company property, or personal	446
property owned or leased by a railroad company and used in	447
railroad operations listed under or described in section 5711.22,	448
division (B) or (F) of section 5727.111, or section 5727.12 of the	449
Revised Code.	450

(QQ) "Year" means the calendar year.

451

(RR) "Administrative agent," "agent," "commercial paper,"	452
"floating rate interest structure," "indexing agent," "interest	453
rate hedge," "interest rate period," "put arrangement," and	454
"remarketing agent" have the same meanings as in section 9.98 of	455
the Revised Code.	456

(SS) "Sales tax supported" means obligations to the payment	457
of debt charges on which an additional sales tax or additional	458
sales taxes have been pledged by the taxing authority of a county	459
pursuant to section 133.081 of the Revised Code.	460

Sec. 4504.08.  A resolution, ordinance, or other measure	461
levying a county motor vehicle license tax, municipal motor	462
vehicle license tax, township motor vehicle license tax, or	463
transportation improvement district motor vehicle license tax, or	464
regional transportation improvement project motor vehicle license	465
tax shall not be applicable to motor vehicle registrations for a	466
registration year beginning at the time established in section	467
4503.10 of the Revised Code unless a copy of such resolution or	468
ordinance is certified to the registrar of motor vehicles not	469
later than the first day of July of the year preceding that in	470
which such registration year begins.	471

Sec. 4504.09.  Any county, township, municipal, or	472
transportation improvement district, or regional transportation	473
improvement project motor vehicle license tax shall be paid to the	474
registrar of motor vehicles or to a deputy registrar at the time	475
application for registration of a motor vehicle as provided in	476
sections 4503.10 and 4503.102 of the Revised Code is made and no	477
certificate of registration, numbered license plates and	478
validation stickers, or validation stickers alone, shall be issued	479
to the owner of a motor vehicle for which any amount of county,	480
township, municipal, or transportation improvement district, or	481
regional transportation improvement project motor vehicle license	482
tax due thereon has not been paid. Payment of the tax shall be	483
evidenced by a stamp on the certificate of registration by the	484
official issuing such certificate.	485

Upon the transfer of ownership of a motor vehicle, the	486
registrar or deputy registrar shall collect any additional county,	487
township, municipal, or transportation improvement district, or	488
regional transportation improvement project motor vehicle license	489
tax due thereon, computed in the manner provided in section	490
4503.12 of the Revised Code.	491

Sec. 4504.22.  (A) Subject to division (B) of this section	492
and for the purposes of paying the costs and expenses of enforcing	493
and administering the tax provided for in this section; paying the	494
costs of transportation improvements as defined in section 5595.01	495
of the Revised Code; paying debt service charges on obligations	496
issued for those purposes; and to supplement revenue already	497
available for those purposes, the board of county commissioners of	498
a county that is participating in a regional transportation	499
improvement project in accordance with Chapter 5595. of the	500
Revised Code may levy an annual license tax upon the operation of	501
motor vehicles on the public roads and highways in the county.	502

The board of county commissioners shall levy the tax at a	503
rate from one dollar to fifteen dollars per motor vehicle in whole	504
dollar increments as determined by the governing board of the	505
regional transportation improvement project. However, for each	506
commercial car and each commercial trailer and semitrailer that is	507
subject to the tax in that county the board of county	508
commissioners shall levy the tax at a rate of either one dollar or	509
any whole multiple of ten dollars not exceeding one hundred	510
dollars as determined by the governing board of the regional	511
transportation improvement project. The owner of each such motor	512
vehicle who resides in the county or a portion of the county	513
subject to the tax shall pay the tax levied by the board of county	514
commissioners. The tax is in addition to all other taxes levied	515
under this chapter, subject to reduction in the manner provided in	516
division (B)(2) of section 4503.11 of the Revised Code.	517

(B) Upon written request of the governing board of a regional	518
transportation improvement project, the board of county	519
commissioners of a county in which any part of that project is	520
located may propose that a motor vehicle license tax be levied	521
under this section. The board of county commissioners, via a	522
resolution, shall put the question of the tax to the electors of	523
the county or of that portion of the county in which the tax would	524
be levied. The board of county commissioners shall specify in the	525
resolution the rate of the tax, the date on which the tax will	526
terminate, and, if the request of the governing board of the	527
regional transportation improvement project indicates that a	528
portion of the revenue will be used for supplemental	529
transportation improvements not described in the cooperative	530
agreement, the portion of the tax revenue that will be used for	531
such supplemental improvements. The board of elections shall	532
submit the question of the tax to the electors at the primary or	533
general election to be held not less than ninety days after the	534
board of county commissioners certifies to the county board of	535
elections its resolution proposing the tax. The secretary of state	536
shall prescribe the form of the ballot for the election. If	537
approved by a majority of the electors voting on the question of	538
the tax in that county or portion of that county, as applicable,	539
the board of county commissioners of that county shall levy the	540
tax as provided in the resolution. However, the board may make	541
implementation of the tax contingent upon the approval of tax	542
measures under this section in one or more of the other counties	543
participating in the regional transportation improvement project.	544

(C) The registrar of motor vehicles shall deposit money from	545
a tax levied under this section that is received by the registrar	546
under section 4504.09 of the Revised Code in the local motor	547
vehicle license tax fund created by section 4501.031 of the	548
Revised Code. The registrar shall distribute the money to the	549
board of county commissioners levying such tax. The registrar may	550
assign to that board of county commissioners a unique code to	551
facilitate the distribution of such money, which may be the same	552
unique code assigned to that county under section 4501.03 of the	553
Revised Code. The board of county commissioners then shall pay the	554
money to the governing board of the regional transportation	555
improvement project that requested that the question of the	556
levying of the tax be placed on the ballot.	557

Sec. 5595.01.  As used in this chapter:

558

(A) "Regional transportation improvement project" or	559
"project" means a regional transportation improvement project	560
undertaken pursuant to section 5595.02 of the Revised Code.	561

(B) "Transportation improvement" or "improvement" means the	562
construction, repair, maintenance, or expansion of streets,	563
highways, parking facilities, freight rail tracks and necessarily	564
related freight rail facilities, bridges, tunnels, overpasses,	565
underpasses, interchanges, approaches, culverts, and other means	566
of transportation, and the erection and maintenance of traffic	567
signs, markers, lights, and signals.	568

Sec. 5595.02.  (A) The boards of county commissioners of two	569
or more counties may undertake a regional transportation	570
improvement project for the purpose of completing transportation	571
improvements within the territory of the counties. The project	572
shall be administered by a governing board in accordance with a	573
cooperative agreement.	574

(B) The cooperative agreement shall provide for the creation	575
of a governing board consisting of one county commissioner from	576
each county that is a party to the agreement or a designee	577
appointed by the board of county commissioners of the county for	578
the purpose of serving on the governing board, and the county	579
engineer of each such county or a designee appointed by the county	580
engineer for the purpose of serving on the governing board.	581
Membership on the board is not a direct or indirect interest in a	582
contract or expenditure of money by the county. The board is a	583
public body for the purposes of section 121.22 of the Revised Code	584
and a public office for the purposes of section 149.43 of the	585
Revised Code. Chapter 2744. of the Revised Code applies to the	586
board.	587

(C) The governing board of a regional transportation	588
improvement project is a body both corporate and politic, and the	589
exercise by it of the powers conferred by this chapter in the	590
financing, construction, maintenance, repair, and operation of	591
transportation improvements are essential governmental functions.	592

(D) A board of county commissioners, in accordance with the	593
cooperative agreement, may make appropriations to pay costs	594
incurred by the governing board in the exercise of its functions	595
under this chapter.	596

Sec. 5595.03.  (A) A resolution of a board of county	597
commissioners undertaking a regional transportation improvement	598
project must include a cooperative agreement containing all of the	599
following:	600

(1) A description or analysis of the deficiencies of the	601
existing transportation system in the counties participating in	602
the project and of projected needs or deficiencies of the system	603
in ensuing years under reasonable assumptions about development,	604
population trends, and other factors affecting transportation	605
infrastructure in the counties;	606

(2) A comprehensive list of the transportation improvements	607
to be completed as part of the project, including a general	608
description of each improvement, schedules of the projected	609
beginning and end of each improvement, and the estimated cost of	610
each improvement;	611

(3) Directives regarding the operations and reporting	612
requirements of the governing board;	613

(4) The number of years the agreement is to be in effect;

614

(5) Any other terms the board of county commissioners	615
considers necessary or conducive to communicate the intentions of	616
the cooperative agreement and to ensure its effective	617
implementation by the governing board.	618

(B) A board of county commissioners that intends to undertake	619
a regional transportation improvement project shall hold at least	620
one public hearing on the proposed cooperative agreement before	621
adopting a resolution approving the agreement. The board of county	622
commissioners shall provide at least thirty days' public notice of	623
the time and place of the public hearing in a newspaper of general	624
circulation in the county. During the thirty-day period before the	625
public hearing, the proposed cooperative agreement shall be made	626
available for public inspection at the offices of each county that	627
will be a party to the agreement.	628

(C) The cooperative agreement governing a regional	629
transportation improvement project may be amended at any time by	630
majority vote of the governing board and of the boards of county	631
commissioners of each of the participating counties.	632

Sec. 5595.04.  The governing board of a regional	633
transportation improvement project may do any of the following:	634

(A) Make and enter into all contracts and agreements	635
necessary or incidental to the performance of its functions and	636
the execution of its powers under this chapter and in accordance	637
with the cooperative agreement. The procuring of goods and	638
awarding of contracts with a cost in excess of fifty thousand	639
dollars shall be done in accordance with the competitive bidding	640
procedures established for boards of county commissioners by	641
sections 307.86 to 307.91 of the Revised Code.	642

(B) Sue and be sued in its own name, plead and be impleaded,	643
provided any actions against the governing board or the regional	644
transportation improvement project shall be brought in the court	645
of common pleas of a county that is a party to the cooperative	646
agreement or in the court of common pleas of the county in which	647
the cause of action arose, and all summonses, exceptions, and	648
notices shall be served on the governing board by leaving a copy	649
thereof at its principal office with a member of the governing	650
board or an employee or agent thereof;	651

(C) Employ or retain persons as are necessary in the judgment	652
of the governing board to carry out the project, and fix their	653
compensation;	654

(D) Acquire by purchase, lease, lease-purchase, lease with	655
option to purchase, appropriation, or otherwise any property	656
necessary, convenient, or proper for the construction,	657
maintenance, repair, or operation of one or more transportation	658
improvements. The governing board may pledge net revenues, to the	659
extent permitted by this chapter with respect to bonds, to secure	660
payments to be paid by the governing board under such a lease,	661
lease-purchase agreement, or lease with option to purchase. Title	662
to real and personal property shall be held in the name of the	663
governing board. In any proceedings for appropriation under this	664
section, the procedure to be followed shall be in accordance with	665
that provided in sections 163.01 to 163.22 of the Revised Code.	666
Except as otherwise agreed to by the owner of the property, full	667
compensation shall be paid for public property so taken.	668

(E) Issue securities to pay for the costs of transportation	669
improvements pursuant to section 5595.05 of the Revised Code.	670

Sec. 5595.05.  The governing board of a regional	671
transportation improvement project may provide for the issuance of	672
securities for the purpose of paying costs of transportation	673
improvements. The securities are Chapter 133. securities, and the	674
issuance of the securities, the maturities and other details	675
thereof, the rights of the holders thereof, and the rights,	676
duties, and obligations of the governing board in respect to the	677
securities is governed by the applicable bond proceedings, section	678
133.22 or 133.23, and other applicable sections of Chapter 133. of	679
the Revised Code, notwithstanding that the transportation	680
improvements may result in permanent improvements for more than	681
one purpose under that chapter.	682

Such securities do not constitute a debt or a pledge of the	683
faith and credit of the state or of any political subdivision of	684
the state. Debt charges on outstanding securities are payable	685
solely from revenues pledged to the regional transportation	686
improvement project pursuant to section 5595.06 of the Revised	687
Code. All securities shall contain on their face a statement to	688
that effect. Sections 9.98 to 9.983 of the Revised Code apply to	689
the securities.	690

Sec. 5595.06.  (A) The governing board of a regional	691
transportation improvement project, pursuant to the cooperative	692
agreement, may request and receive pledges of revenue from the	693
state, the counties that are parties to the agreement, and any	694
political subdivision or taxing unit located within any of those	695
counties. Except as provided in division (B) of this section, the	696
pledged revenues shall be used solely for the purpose of funding	697
the transportation improvements prescribed by the cooperative	698
agreement, the debt charges on any securities issued by the	699
governing board under section 5595.05 of the Revised Code, and the	700
expenses of the governing board. The state, the counties, and any	701
political subdivision or taxing unit located within such a county	702
may pledge revenue to the governing board from any of the	703
following sources:	704

(1) The general revenue fund of the state;

705

(2) License tax revenue derived from an annual motor vehicle	706
license tax imposed pursuant to section 4504.22 of the Revised	707
Code;	708

(3) Payments in lieu of taxes derived under section 5709.42,	709
5709.74, or 5709.79 of the Revised Code if the real property for	710
which such payments are made will benefit from the proposed	711
transportation improvements;	712

(4) Income tax revenue derived from a joint economic	713
development district or joint economic development zone	714
established pursuant to section 715.69, 715.691, 715.70, or 715.71	715
or sections 715.72 to 715.81 of the Revised Code if the district	716
or zone will benefit from the proposed transportation	717
improvements;	718

(5) Revenue derived from special assessments levied in a	719
special improvement district created under Chapter 1710. of the	720
Revised Code if the district will benefit from the proposed	721
transportation improvements;	722

(6) Revenue from an income source of a new community district	723
established pursuant to section 349.03 of the Revised Code if the	724
district will benefit from the proposed transportation	725
improvements.	726

(B) The governing board shall use license tax revenue pledged	727
to the project under division (A)(2) of this section for the	728
purpose of funding transportation improvements described in the	729
cooperative agreement and any other supplemental transportation	730
improvements necessary to complete the project. If the board	731
intends to use any of the license tax revenue for supplemental	732
improvements not described in the agreement, the board, before	733
submitting a request for license tax revenue to a board of county	734
commissioners under section 4504.22 of the Revised Code, shall	735
adopt a resolution allocating the revenue among the improvements	736
described in the agreement and such supplemental improvements not	737
described in the agreement. The amount used for supplemental	738
improvements may not exceed five dollars for each motor vehicle on	739
which the motor vehicle license tax is collected. If the motor	740
vehicle license tax is approved, the governing board shall	741
allocate the revenue only in accordance with the resolution. The	742
allocation may not be changed unless a proposition to change the	743
allocation is approved by the majority of electors voting on the	744
proposition in each county that is a party to the cooperative	745
agreement. Such a proposition may be proposed by resolution of the	746
governing board certified to the board of county commissioners of	747
each county, and, upon receiving such a certified resolution, each	748
board of county commissioners shall certify identical resolutions	749
to the respective county board of elections for placement on the	750
questions and issues ballot at the next succeeding election	751
occurring at least ninety days after the resolution is certified	752
to the board of elections.	753

Sec. 5595.07.  The governing board of a regional	754
transportation improvement project may submit a written request to	755
the director of transportation for the assistance of the	756
department of transportation in any or all aspects, components, or	757
phases of that project. Upon receipt of such a request, the	758
director shall make available to the governing board all such	759
resources of the department as may be necessary to fulfill the	760
request. The director, in the director's discretion, may elect to	761
assign any or all of any post-construction management	762
responsibilities for the project back to the governing board.	763

The governing board shall pay all expenses the department	764
incurs in fulfilling the request of the governing board for	765
assistance, which expenses may be paid from the proceeds of bonds	766
issued by the governing board under this section.	767

Sec. 5595.08.  All money, funds, properties, and assets	768
acquired by the governing board of a regional transportation	769
improvement project under this chapter, whether as proceeds from	770
the sale of securities, as revenues, or otherwise, shall be held	771
by it in trust for the purpose of carrying out its powers and	772
duties, shall be used and reused as provided in this chapter, and	773
shall at no time be part of other public funds. Such funds, except	774
as otherwise provided in bond proceedings or in any trust	775
agreement securing such securities, or except when invested	776
pursuant to section 5595.09 of the Revised Code, shall be kept in	777
depositories selected by the governing board in the manner	778
provided in Chapter 135. of the Revised Code for the selection of	779
eligible public depositories, and the deposits shall be secured as	780
provided in that chapter. Bond proceedings or the trust agreement	781
securing securities shall provide that any officer to whom, or any	782
bank or trust company to which, such money is paid shall act as	783
trustee of the money and hold and apply the money for the purposes	784
for which the securities are issued, subject to such conditions as	785
Chapter 133. or 135. of the Revised Code and such proceedings or	786
trust agreement provide.	787

Sec. 5595.09.  Except as otherwise provided in any bond	788
proceedings or in any trust agreement securing securities, money	789
in the funds of the governing board of a regional transportation	790
improvement project in excess of current needs may be invested as	791
permitted by sections 135.01 to 135.21 of the Revised Code. Income	792
from all investments of moneys in any fund shall be credited to	793
funds as the governing board determines, subject to the provisions	794
of any such proceedings or trust agreement, and the investments	795
may be sold at any time the governing board determines.	796

Sec. 5595.10.  The county auditor of the county with the	797
greatest population, according to the most recent federal	798
decennial census, that is a party to the cooperative agreement	799
shall be the fiscal officer for the governing board of the	800
project. The county prosecutor of the county with the greatest	801
population, according to the most recent federal decennial census,	802
that is participating in the project shall be the legal advisor of	803
the governing board of the project and shall prosecute and defend	804
all suits and actions that the governing board directs or to which	805
it is a party.	806

Sec. 5595.11.  The exercise of the powers granted by this	807
chapter is in all respects for the benefit of the people of the	808
state, for the increase of their commerce and prosperity, and for	809
the improvement of their health and living conditions, and, as the	810
completion of transportation improvements by a regional	811
transportation improvement project constitute the performance of	812
essential governmental functions, neither the project nor the	813
governing board may be required to pay any state or local taxes or	814
assessments upon any improvement, or upon revenue or any property	815
acquired or used by the governing board of the project under this	816
chapter, or upon the income therefrom. The securities issued under	817
this chapter, their transfer, and the income therefrom, including	818
any profit made on the sale thereof, shall at all times be free	819
from taxation within the state.	820

Sec. 5595.12.  Notwithstanding any other section of the	821
Revised Code to the contrary, the approval, consent, or	822
cooperation of a political subdivision is not required for a	823
transportation improvement that involves constructing or improving	824
a street or highway that runs through the territory of the	825
political subdivision, connects to a highway that is part of the	826
interstate system, and has been journalized by the director of	827
transportation prior to the effective date of the enactment of	828
this section.	829

Section 2.  That existing sections 133.01, 4504.08, and	830
4504.09 of the Revised Code are hereby repealed.	831