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S. B. No. 224As Passed by the SenateAs Passed by the Senate
125th General Assembly | Regular Session | 2003-2004 |
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SENATOR Padgett
A BILL
To amend section 3357.112 of the Revised Code to permit any technical college that is not co-located with another institution of higher education to acquire housing and dining facilities.
BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF OHIO:
Section 1. That section 3357.112 of the Revised Code be amended to read as follows:
Sec. 3357.112. (A)(1) Each technical college district may acquire,
by purchase, lease, lease-purchase, lease with option to purchase, or
otherwise, construct, equip, furnish, reconstruct, alter, enlarge, remodel,
renovate, rehabilitate, improve, maintain, repair, and operate, and lease to
or from others, auxiliary facilities or education facilities, except housing
and dining facilities, and may pay for the facilities out of available
receipts of such district. To pay all or part of the costs of auxiliary
facilities or education facilities, except housing and dining facilities, and
any combination of them, and to refund obligations previously issued for such
purpose, each technical college district may issue obligations in the manner
provided by and subject to the applicable provisions of section 3345.12 of the
Revised Code.
(2) Notwithstanding division (A)(1) of this section, a technical college that is not co-located with another institution of higher education also may acquire, by purchase, lease, lease-purchase, lease with option to purchase, or otherwise, construct, equip, furnish, reconstruct, alter, enlarge, remodel, renovate, rehabilitate, improve, maintain, repair, and operate, and lease to or from others, housing and dining facilities, and may pay for the facilities out of available receipts of the district. To pay all or part of the costs of housing and dining facilities, and to refund obligations previously issued for such purpose, the technical college district may issue obligations in the manner provided by and subject to the applicable provisions of section 3345.12 of the Revised Code. (B) Except as otherwise provided in this section, the definitions
set forth in section 3345.12 of the Revised Code apply to this section. (C) Fee variations provided for in division (G) of
section 3357.09 of the Revised Code need not be applied to fees pledged to
secure obligations. (D) The obligations authorized by this section are not bonded
indebtedness of the technical college district, shall not constitute general
obligations or the pledge of the full faith and credit of such district, and
the holders or owners thereof shall have no right to require the board to
levy or collect any taxes for the payment of bond service charges, but they
shall have the right to payment thereof solely from the available receipts and
funds pledged for such payment as authorized by section 3345.12 of the Revised
Code and this section. The bond proceedings may provide the method whereby the general
administrative overhead expense of the district shall be allocated among the
several operations and facilities of the district for purposes of determining
any operating and maintenance expenses payable from the pledged available
receipts prior to the provision for payment of bond service charges, and for
other purposes of the bond proceedings. (E) The powers granted in this section are in addition to any
other powers at any time granted by the Constitution and laws of the
state, and not in derogation thereof or restrictions thereon.
Section 2. That existing section 3357.112 of the Revised Code is hereby repealed.
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