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Am. Sub. S. B. No. 236 As Reported by the House Finance and Appropriations Committee
As Reported by the House Finance and Appropriations Committee
126th General Assembly | Regular Session | 2005-2006 |
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Senators Carey, Roberts, Zurz, Harris, Padgett, Kearney, Spada, Armbruster, Prentiss, Fingerhut, Wilson, Austria, Miller
Representatives Calvert, Trakas, McGregor, J., Schlichter, Wagoner, Flowers, Martin, Peterson, Yates, Evans, C., Stewart, J., Hartnett, Miller
A BILL
To amend sections 151.01, 151.02, 184.01, 184.02, and 184.03 and to enact sections 122.013, 122.085, 122.086, 122.087, 122.088, 122.089, 122.0810, 122.0811, 122.0812, 122.0813, 122.0814, 122.0815, 122.0816, 122.0817, 122.0818, 122.0819, 122.0820, 151.10, 151.11, 184.10, 184.11, 184.111, 184.112, 184.113, 184.114, 184.115, 184.116, 184.12, 184.13, 184.14, 184.15, 184.151, 184.16, 184.17, 184.171, 184.172, 184.173, 184.18, and 184.19 of the Revised Code, and to amend sections 203.99, 203.99.33, 203.99.51, and 209.99 of Am. Sub. H.B. 66 of the 126th General Assembly to implement certain provisions of Article VIII, Section 2p of the Ohio Constitution regarding the issuance of obligations to support research and development projects and the development of certain sites and facilities and to make an appropriation.
BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF OHIO:
Section 1. That sections 151.01, 151.02, 184.01, 184.02, and 184.03 be amended and sections 122.013, 122.085, 122.086, 122.087, 122.088, 122.089, 122.0810, 122.0811, 122.0812, 122.0813, 122.0814, 122.0815, 122.0816, 122.0817, 122.0818, 122.0819, 122.0820, 151.10, 151.11, 184.10, 184.11, 184.111, 184.112, 184.113, 184.114, 184.115, 184.116, 184.12, 184.13, 184.14, 184.15, 184.151, 184.16, 184.17, 184.171, 184.172, 184.173, 184.18, and 184.19 of the Revised Code be enacted to read as follows:
Sec. 122.013. The department of development shall post the following on the official internet site of the department:
(A) Annual reports of the progress and status of eligible projects made as required under division (E) of section 122.0814 of the Revised Code;
(B) The annual report made by the director of development under section 122.0817 of the Revised Code;
(C) Reports made by the third frontier commission under section 184.15 of the Revised Code;
(D) Information on all support awarded under section 184.11 of the Revised Code.
Sec. 122.085. As used in sections 122.085 to 122.0820 of the Revised Code:
(A)(1) "Allowable costs" includes costs related to the following:
(a) Acquisition of land and buildings;
(b) Building construction;
(c) Making improvements to land and buildings, including the following:
(i) Expanding, reconstructing, rehabilitating, remodeling, renovating, enlarging, modernizing, equipping, and furnishing buildings and structures, including leasehold improvements;
(ii) Site preparation, including wetland mitigation.
(d) Planning or determining feasibility or practicability;
(e) Indemnity or surety bonds and premiums on insurance;
(f) Remediation, in compliance with state and federal environmental protection laws, of environmentally contaminated property on which hazardous substances exist under conditions that have caused or would likely cause the property to be identified as contaminated by the Ohio environmental protection agency or the United States environmental protection agency;
(g) Infrastructure improvements, including the following:
(i) Demolition of buildings and other structures;
(ii) Installation or relocation of water, storm water and sanitary sewer lines, water and waste water treatment facilities, pump stations, and water storage mechanisms and other similar equipment or facilities;
(iii) Construction of roads, bridges, traffic control devices, and parking lots and facilities;
(iv) Construction of utility infrastructure such as natural gas, electric, and telecommunications, including broadband and hookups;
(v) Water and railway access improvements;
(vi) Costs of professional services.
(2) "Allowable costs" do not include administrative costs assessed by or fees paid to the recipient of a grant.
(B) "District public works integrating committees" means those committees established under section 164.04 of the Revised Code.
(C) "Eligible applicant" includes any political subdivision or non-profit economic development organization, and, with prior approval of the director of development, private, for-profit entities. "Eligible applicant" does not include public or private institutions of higher education.
(D) "Eligible project" includes projects that, upon completion, will be sites and facilities primarily intended for commercial, industrial, or manufacturing use. "Eligible projects" do not include sites and facilities intended primarily for residential, retail, or government use.
(E) "Professional services" includes legal, environmental, archeological, engineering, architectural, surveying, design, or other similar services performed in conjunction with an eligible project. "Professional services" also includes designs, plans, specifications, surveys, estimates of costs, and other work products.
Sec. 122.086. There is hereby created the job ready site program to provide grants to pay for allowable costs of eligible applicants for eligible projects. The program shall be administered by the department of development pursuant to guidelines established for it by the director of development. All grants shall be awarded through one of the following two processes:
(A) The annual competitive process under sections 122.087 to 122.0811 and 122.0814 of the Revised Code;
(B) The discretionary process under sections 122.0812, 122.0813, and 122.0814 of the Revised Code.
Sec. 122.087. The director of development shall establish an annual competitive process for making grants described in section 122.086 of the Revised Code. At least two-thirds of the amounts that may be distributed as grants each year under the job ready site program shall be distributed under the annual competitive process.
Sec. 122.088. In order to be considered for a grant under the annual competitive process, an eligible applicant shall fill out an application provided by the department of development and shall file it with the district public works integrating committee with jurisdiction over the area in which the eligible project is located.
Sec. 122.089. An eligible applicant shall provide all of the following on the annual competitive process application:
(A) Contact information for the eligible applicant;
(B) A legal description of the property for which the grant is requested;
(C) A summary of the proposed eligible project that includes all of the following:
(1) A general description of the eligible project, including individuals, organizations, or other entities that will play a critical role in the implementation of the project;
(2) An explanation of the need for the eligible project, and the predicted economic impact;
(3) An explanation of the need for a grant from the job ready site program;
(4) The commitments required pursuant to division (A)(3) of section 122.0815 of the Revised Code.
(D) A detailed summary of costs for the eligible project, including supporting documents for cost estimates;
(E) Sources of funding for the eligible project, including documentation verifying the status of those funds;
(F) Summary results of preliminary engineering studies and environmental reviews, if any have been conducted;
(G) A comprehensive marketing plan detailing how the eligible project will be marketed upon completion, if appropriate;
(H) Copies of resolutions or ordinances related to the eligible project, including resolutions or ordinances adopted by the political subdivision with jurisdiction over the geographic area in which the eligible project is located;
(I) Any other information the director requests on the application form.
Sec. 122.0810. (A) Each application for a grant pursuant to the annual competitive process received by a district public works integrating committee shall be evaluated by the executive committee of the district committee. In conducting the evaluation, the executive committee shall determine whether the application for the proposed eligible project is complete and whether the project meets the requirements of section 122.0815 of the Revised Code. If the application is complete and the eligible project meets the requirements of section 122.0815 of the Revised Code, the executive committee shall prioritize the eligible project pursuant to section 122.0816 of the Revised Code and pursuant to local priorities, as those priorities are determined by the executive committee, with all other eligible projects with complete applications that meet the requirements of section 122.0815 of the Revised Code. If the application is incomplete or the project does not meet the requirements of section 122.0815 of the Revised Code, the executive committee shall notify the applicant of the deficiencies and the period of time the applicant has to correct the deficiencies and submit the corrections to the executive committee. Failure to correct deficiencies within the time designated by the executive committee shall disqualify the project from consideration for a grant during the annual competitive process for that year.
The executive committee, by the affirmative vote of a majority of all its members, shall select up to three eligible projects from the projects it has prioritized each year pursuant to the annual competitive process. The executive committee shall forward the applications and any accompanying information for each of the selected eligible projects to the department of development in the time and manner required by the guidelines governing the job ready site program. (B) For a district public works integrating committee that does not have an executive committee, the full committee shall perform the functions assigned to the executive committee under section 122.0816 of the Revised Code and division (A) of this section. (C) An executive committee, or a district committee that does not have an executive committee, may appoint a working group of committee members and staff to perform the functions of those committees as provided in this section.
Sec. 122.0811. The department of development shall evaluate each eligible project selected pursuant to section 122.0810 of the Revised Code to determine whether the application for the proposed eligible project is complete and whether it meets the requirements of section 122.0815 of the Revised Code. If the application is complete and the project meets the requirements of section 122.0815 of the Revised Code, the department shall notify the eligible applicant that the application is complete and shall prioritize the eligible project pursuant to section 122.0816 of the Revised Code with all other eligible projects with complete applications that meet the requirements. If the application is incomplete or the project does not meet the requirements of section 122.0815 of the Revised Code, the department shall notify the applicant of the deficiencies and the period of time the applicant has to correct the deficiencies and submit the corrections to the department. Failure to correct deficiencies within the time designated by the department shall disqualify the project from consideration for a grant during the annual competitive process for that year.
The director, on completion of the evaluations and prioritization, shall make a recommendation to the controlling board asking for approval to make grants for the eligible projects selected by the director. The director shall take into consideration the geographic diversity of awards when making the selection of eligible projects to receive grants.
Sec. 122.0812. The director of development shall establish a discretionary process that permits the director to make grants described in section 122.086 of the Revised Code in situations that include those in which the timing of a proposed eligible project is such that the annual competitive process is not suitable. The director, as part of the guidelines established for the job ready site program, shall establish all the procedures and requirements governing application for the discretionary grants.
Sec. 122.0813. On receipt of an application for a discretionary grant for an eligible project, the director of development shall evaluate it to determine whether the application for the proposed eligible project is complete and whether the eligible project meets the requirements of section 122.0815 of the Revised Code. If the application is complete and the project meets the requirements of section 122.0815 of the Revised Code, the director shall make a recommendation to the controlling board asking for approval to make the discretionary grant for the eligible project. If the application is incomplete or the project does not meet the requirements of section 122.0815 of the Revised Code, the department shall notify the applicant of the deficiencies and work with the applicant to correct the deficiencies. If the deficiencies are corrected, the director shall make a recommendation to the controlling board asking for approval to make the discretionary grant for the eligible project.
Sec. 122.0814. If the controlling board approves a grant for an eligible project pursuant to the annual competitive process or the discretionary process, the director of development shall enter into an agreement with the eligible applicant to provide the grant for the project. The agreement shall be executed prior to the payment or disbursement of any funds under the grant and shall contain the following provisions:
(A) A designation of a single officer or employee of the eligible applicant who will serve as the manager of the eligible project;
(B) A detailed description of the scope of the work required under the eligible project, including anticipated sources and uses of funds;
(C) A designation of the percentage of the estimated total cost of the project for which the grant will provide funding, which shall not exceed seventy-five per cent of the cost;
(D) Provisions for the recovery by the department of grant funds for failure to meet the terms of the agreement;
(E) A requirement that annual reports be made by the eligible applicant on the progress of the eligible project and any other information about the status of the project as required by the guidelines established for the job ready site program;
(F) Any other provisions the director determines necessary.
Sec. 122.0815. (A) A project shall meet the following requirements in order to be considered for a grant under the annual competitive process:
(1) The application for the grant is made by an eligible applicant.
(2) The project for which the application is made is an eligible project.
(3) The eligible applicant commits to all the following:
(a) To use the grant to pay only allowable costs for the eligible project;
(b) Not to use the grant to fund more than seventy-five per cent of the total cost of the eligible project;
(c) Not to use more than ten per cent of the grant amount to pay the costs of professional services under the eligible project.
(4) The grant amount requested does not exceed five million dollars.
(5) The eligible applicant and the eligible project comply with any other criteria the director of development determines is necessary.
(B) A project shall meet the requirements described in divisions (A)(1) to (4) of this section in order to be considered for a grant under the discretionary process.
Sec. 122.0816. The department of development and the executive committees of district public works integrating committees shall apply the following factors to eligible projects under the annual competitive process to determine a priority order for the eligible projects subject to that process:
(A) The potential economic impact of the eligible project;
(B) The potential impact of the eligible project on economic distress;
(C)
The amount of local, federal, and private funding available for the eligible project;
(D) The demonstrated need for the eligible project;
(E) The strength of the eligible project's marketing plan, if appropriate;
(F) The level of financial need;
(G) Any other factor the director of development determines should be considered.
Sec. 122.0817. In accordance with the guidelines established to govern the job ready site program, the director of development shall publish an annual report that includes the following: (A) Details on each grant awarded pursuant to the program; (B) The status of projects funded in previous years; (C) The amount of grants awarded for projects in economically distressed areas and, to the extent possible, the impact of those grants in those areas.
Sec. 122.0818. Eligible projects that receive a grant pursuant to the job ready site program are public improvements pursuant to section 4115.03 of the Revised Code and shall be subject to the prevailing wage requirements of section 4115.04 of the Revised Code.
Sec. 122.0819. The guidelines established to govern the job ready site program may provide for recovery of the costs, or a portion thereof, incurred by district public works integrating committees and executive committees in conducting their duties under the program.
Sec. 122.0820. The job ready site development fund is hereby created in the state treasury. The fund shall consist of the net proceeds of obligations issued and sold by the issuing authority pursuant to sections 151.01 and 151.11 of the Revised Code. Investment earnings of the fund shall be credited to the fund. Moneys in the fund shall be used to make grants for eligible projects pursuant to sections 122.085 to 122.0820 of the Revised Code and associated administrative expenses.
Sec. 151.01. (A) As used in sections 151.01 to
151.09 151.11 and
151.40 of
the Revised Code
and
in the applicable bond
proceedings
unless
otherwise provided: (1)
"Bond proceedings" means the resolutions, orders,
agreements, and
credit enhancement facilities, and amendments and
supplements to
them, or any one or more or combination of them,
authorizing,
awarding, or providing for the terms and conditions
applicable to
or providing for the security or liquidity of, the
particular
obligations, and the provisions contained in those
obligations. (2)
"Bond service fund" means the respective bond service
fund
created by section 151.03, 151.04, 151.05, 151.06, 151.07,
151.08, 151.09, 151.10, 151.11, or 151.40 of the
Revised Code, and any accounts in
that fund,
including all
moneys and investments, and earnings from
investments, credited
and to be credited to that fund and accounts
as and to the extent
provided in the applicable bond proceedings. (3)
"Capital facilities" means capital facilities or
projects
as
referred to in section 151.03, 151.04, 151.05, 151.06,
151.07,
151.08, 151.09, 151.10, 151.11, or 151.40
of the Revised Code. (4)
"Costs of capital facilities" means the costs of
acquiring,
constructing, reconstructing, rehabilitating,
remodeling,
renovating, enlarging, improving, equipping, or
furnishing capital
facilities, and of the financing of those
costs.
"Costs of capital
facilities" includes, without
limitation,
and in addition to costs
referred to in section
151.03, 151.04,
151.05, 151.06, 151.07,
151.08, 151.09, 151.10, 151.11, or 151.40
of the
Revised
Code, the cost of
clearance and preparation of the
site
and of any
land to be used
in connection with capital
facilities,
the cost of
any indemnity
and surety bonds and
premiums on
insurance, all
related direct
administrative expenses
and
allocable portions of
direct costs of
the issuing authority,
costs
of engineering and
architectural
services, designs, plans,
specifications, surveys,
and estimates
of cost, financing costs,
interest on obligations
from their date
to the time when interest
is to be paid from
sources other than
proceeds of obligations,
amounts necessary to
establish any
reserves as required by the
bond proceedings, the
reimbursement of
all moneys advanced or
applied by or borrowed
from any person or
governmental agency or
entity for the payment
of any item of costs
of capital facilities,
and all other expenses
necessary or
incident to planning or
determining feasibility or
practicability
with respect to capital
facilities, and such other
expenses as may
be necessary or
incident to the acquisition,
construction,
reconstruction,
rehabilitation, remodeling,
renovation,
enlargement, improvement,
equipment, and furnishing of
capital
facilities, the financing of
those costs, and the placing
of the
capital facilities in use and
operation, including any one,
part
of, or combination of those
classes of costs and expenses. For purposes of sections 122.085 to 122.0820 of the Revised Code, "costs of capital facilities" includes "allowable costs" as defined in section 122.085 of the Revised Code. (5)
"Credit enhancement facilities,"
"financing costs," and
"interest" or
"interest equivalent" have the same meanings as in
section 133.01 of the Revised Code. (6)
"Debt service" means principal, including any mandatory
sinking fund or redemption requirements for retirement of
obligations, interest and other accreted amounts, interest
equivalent, and any redemption premium, payable on obligations.
If not prohibited by the applicable bond proceedings, debt service may
include costs relating to credit enhancement facilities that
are
related to and represent, or are intended to provide a source of
payment
of or limitation on, other debt service. (7)
"Issuing authority" means the Ohio public facilities
commission created in section 151.02 of the Revised Code
for
obligations issued under section 151.03, 151.04, 151.05,
151.07,
151.08, or 151.09, 151.10, or 151.11
of the
Revised Code, or
the treasurer of state,
or the
officer who
by law performs the functions of
that office,
for
obligations
issued under section 151.06 or 151.40
of the
Revised Code. (8)
"Net proceeds" means amounts received from the sale of
obligations, excluding amounts used to refund or retire
outstanding
obligations, amounts required to be deposited into
special funds
pursuant to the applicable bond proceedings, and
amounts to be
used to pay financing costs. (9)
"Obligations" means bonds, notes, or other evidences of
obligation of the state, including any appertaining interest
coupons, issued
under Section 2k, 2l, 2m, 2n, 2o, 2p, or 15 of Article
VIII, Ohio Constitution, and
pursuant to sections 151.01 to
151.09 151.11 or
151.40
of the
Revised Code
or other general assembly
authorization. (10)
"Principal amount" means the aggregate of the amount as
stated or provided for in the applicable bond proceedings as the
amount on which interest or interest equivalent on particular
obligations is initially calculated. Principal amount does not
include any premium paid to the state by the initial purchaser of
the obligations.
"Principal amount" of a capital appreciation
bond, as defined in division (C) of section 3334.01 of the Revised
Code, means its face amount, and "principal amount" of a zero
coupon bond, as defined in division (J) of section 3334.01 of the
Revised Code, means the discounted offering price at which the
bond is initially sold to the public, disregarding any purchase
price discount to the original purchaser, if provided for pursuant
to the bond proceedings. (11)
"Special funds" or
"funds," unless the context
indicates
otherwise, means the bond service fund, and any other
funds,
including any reserve funds, created under the bond
proceedings
and
stated to be special funds in those proceedings,
including
moneys
and investments, and earnings from investments,
credited
and to be
credited to the particular fund. Special funds
do not
include the
school building program assistance fund created
by
section 3318.25
of the Revised Code, the higher education
improvement fund created
by division (F) of section 154.21 of the
Revised Code, the highway
capital improvement bond fund created by
section 5528.53 of the Revised Code,
the state parks
and natural
resources fund created
by section 1557.02 of the Revised Code, the
coal research and
development fund created by section 1555.15 of
the Revised Code,
the clean Ohio conservation fund created by
section 164.27 of the Revised Code, the clean Ohio revitalization
fund created by section 122.658 of the Revised Code, the job ready site development fund created by section 122.0820 of the Revised Code, the third frontier research and development fund created by section 184.19 of the Revised Code,
or other
funds created by the bond proceedings
that are not stated
by those
proceedings to be special funds. (B) Subject to
Section 2l, 2m, 2n,
2o, 2p, or 15, and
Section
17, of
Article VIII, Ohio Constitution, the state, by the
issuing
authority, is authorized to issue and sell, as provided in
sections 151.03 to
151.09 151.11 or 151.40 of the Revised Code,
and in
respective
aggregate principal amounts as from time to time
provided or
authorized by the general assembly, general
obligations of this
state for the purpose of paying costs of
capital facilities or
projects identified by or pursuant to
general assembly action. (C) Each issue of obligations shall be authorized by
resolution
or order of the issuing authority. The bond
proceedings shall provide for
or authorize the manner for
determining the principal amount or
maximum principal amount of
obligations of an issue, the principal
maturity or maturities, the
interest rate or rates, the date of
and the dates of payment of
interest on the obligations, their
denominations, and the place or
places of payment of debt service
which may be within or outside
the state. Unless otherwise
provided by law, the latest principal
maturity may not be later
than the earlier of the thirty-first day
of December of the
twenty-fifth calendar year after the year of
issuance of the
particular obligations or of the twenty-fifth
calendar year after
the year in which the original obligation to
pay was issued or
entered into. Sections 9.96, 9.98, 9.981,
9.982, and 9.983 of the Revised
Code apply to obligations. The
purpose of the obligations
may be stated in the bond proceedings
in general terms, such as,
as applicable,
"financing or assisting
in the financing of
projects as provided in Section 2l of Article
VIII, Ohio
Constitution,"
"financing or assisting in the financing
of highway
capital improvement projects as provided in Section 2m
of Article VIII,
Ohio Constitution,"
"paying costs of capital
facilities for
a system of common schools throughout the state as
authorized by
Section 2n of Article VIII, Ohio Constitution,"
"paying
costs of capital facilities for state-supported and
state-assisted
institutions of higher education as authorized by
Section
2n of Article VIII, Ohio Constitution,"
"paying costs of
coal research and development as authorized by Section 15 of
Article
VIII, Ohio Constitution,"
"financing or
assisting in
the
financing of local subdivision capital improvement
projects as
authorized by Section 2m of Article VIII,
Ohio Constitution,"
"paying costs of conservation projects as authorized by Section 2o
of Article VIII, Ohio Constitution,"
or "paying costs of
revitalization projects as
authorized by Section 2o
of Article
VIII, Ohio Constitution," "paying costs of preparing sites for industry, commerce, distribution, or research and development as authorized by Section 2p of Article VIII, Ohio Constitution," or "paying costs of research and development as authorized by Section 2p of Article VIII, Ohio Constitution." (D) The issuing authority may appoint or provide for the
appointment of paying agents, bond registrars, securities
depositories, clearing corporations, and transfer agents, and may
without need for any other approval retain or contract for the
services of
underwriters, investment
bankers, financial advisers,
accounting experts, marketing,
remarketing, indexing, and
administrative agents, other
consultants, and independent
contractors, including printing
services, as are necessary in the
judgment of the issuing
authority to carry out
the issuing
authority's functions under
this
chapter.
When the issuing
authority
is
the Ohio public facilities
commission, the issuing
authority
also
may without need for any
other approval retain or
contract for the
services of attorneys
and other professionals for
that purpose.
Financing costs are
payable, as may be provided in
the bond
proceedings, from the
proceeds of the obligations, from
special
funds, or from other
moneys available for the purpose. (E) The bond proceedings may contain additional provisions
customary or appropriate to the financing or to the obligations or
to particular obligations including, but not limited to,
provisions
for: (1) The redemption of obligations prior to maturity at the
option of the state or of the holder or upon the occurrence of
certain conditions, and at particular price or prices and under
particular terms and conditions; (2) The form of and other terms of the obligations; (3) The establishment, deposit, investment, and application
of
special funds, and the safeguarding of moneys on hand or on
deposit,
in lieu of the applicability of provisions of Chapter
131. or 135.
of the Revised Code, but subject to any special
provisions of
sections 151.01 to
151.09 151.11 or 151.40 of the
Revised
Code with
respect to the
application of particular funds
or
moneys. Any
financial
institution that acts as a depository of
any moneys in
special
funds or other funds under the bond
proceedings may
furnish
indemnifying bonds or pledge securities as
required by the
issuing
authority. (4) Any or every provision of the bond proceedings being
binding
upon the issuing authority and upon such governmental
agency or
entity, officer, board, commission, authority, agency,
department,
institution, district, or other person or body as may
from time to
time be authorized to take actions as may be
necessary to perform
all or any part of the duty required by the
provision; (5) The maintenance of each pledge or instrument comprising
part
of the bond proceedings until the state has fully paid or
provided
for the payment of the debt service on the obligations or
met other
stated conditions; (6) In the event of default in any payments required to be
made
by the bond proceedings, or by any other agreement of the
issuing
authority made as part of a contract under which the
obligations
were issued or secured, including a credit enhancement
facility, the
enforcement of those payments by mandamus, a suit in
equity, an action
at law, or any combination of those remedial
actions; (7) The rights and remedies of the holders or owners of
obligations or of book-entry interests in them, and of third
parties
under any credit enhancement facility, and provisions for
protecting and enforcing those rights and remedies, including
limitations on rights of individual holders or owners; (8) The replacement of mutilated, destroyed, lost, or stolen
obligations; (9) The funding, refunding, or advance refunding, or other
provision for payment, of obligations that will then no longer be
outstanding for purposes of this section or of the applicable bond
proceedings; (10) Amendment of the bond proceedings; (11) Any other or additional agreements with the owners of
obligations, and such other provisions as the issuing authority
determines, including limitations, conditions, or qualifications,
relating to any of the foregoing. (F) The great seal of the state or a facsimile of it may be
affixed to or printed on the obligations. The obligations
requiring
execution by or for the issuing authority shall be
signed as
provided in the bond proceedings. Any obligations may
be signed
by the individual who on the date of execution is the
authorized
signer although on the date of these obligations that
individual
is not an authorized signer. In case the individual
whose
signature or facsimile signature appears on any obligation
ceases
to be an authorized signer before delivery of the
obligation, that
signature or facsimile is nevertheless valid and
sufficient for
all purposes as if that individual had remained the
authorized
signer until delivery. (G) Obligations are investment securities under Chapter
1308.
of the Revised Code. Obligations may be issued in bearer or
in
registered form, registrable as to principal alone or as to
both
principal and interest, or both, or in certificated or
uncertificated form, as the issuing authority determines.
Provision may be made for the exchange, conversion, or transfer of
obligations and for reasonable charges for registration, exchange,
conversion, and transfer. Pending preparation of final
obligations, the issuing authority may provide for the issuance of
interim instruments to be exchanged for the final obligations. (H) Obligations may be sold at public sale or at private
sale,
in such manner, and at such price at, above or below par,
all as determined by
and provided by the issuing authority in the
bond proceedings. (I) Except to the extent that rights are restricted by the
bond
proceedings, any owner of obligations or provider of a credit
enhancement facility may by any suitable form of legal proceedings
protect and enforce any rights relating to obligations or that
facility under the laws of this state or granted by the bond
proceedings. Those rights include the right to compel the
performance of all applicable duties of the issuing authority and
the state. Each duty of the issuing authority and that
authority's officers, staff, and employees, and of each state
entity or agency, or using district or using institution, and its
officers, members, staff, or employees, undertaken pursuant to the
bond proceedings, is hereby established as a duty of the entity or
individual having authority to perform that duty, specifically
enjoined by law and resulting from an office, trust, or station
within the meaning of section 2731.01 of the Revised Code. The
individuals who are from time to time the issuing authority,
members or
officers of the
issuing authority, or those members'
designees acting pursuant to
section 154.02 151.02 of the Revised Code,
or the issuing authority's officers,
staff, or employees, are not
liable in their personal capacities on any
obligations or
otherwise under the bond proceedings. (J)(1) Subject to
Section
2k, 2l, 2m, 2n,
2o, 2p, or 15, and
Section 17,
of Article VIII, Ohio Constitution and sections 151.01
to
151.09 151.11 or 151.40
of the Revised Code, the issuing
authority
may, in addition
to the
authority referred to in
division (B) of
this section,
authorize
and provide for the
issuance of: (a) Obligations in the form of bond anticipation notes, and
may
provide for the renewal of those notes from time to time by
the
issuance of new notes. The holders of notes or appertaining
interest coupons have the right to have debt service on those
notes paid solely from the moneys and special funds that are or
may be pledged to that payment, including the proceeds of bonds or
renewal notes or both, as the issuing authority provides in the
bond proceedings authorizing the notes. Notes may be additionally
secured by covenants of the issuing authority to the effect that
the issuing authority and the state will do all things necessary
for the issuance of bonds or renewal notes in such principal
amount and upon such terms as may be necessary to provide moneys
to pay when due the debt service on the notes, and apply their
proceeds to the extent necessary, to make full and timely payment
of debt service on the notes as provided in the applicable bond
proceedings.
In the bond proceedings authorizing the issuance of
bond
anticipation notes the issuing authority shall set forth for
the
bonds anticipated an estimated schedule of annual principal
payments
the latest of which shall be no later than provided in
division
(C) of this section. While the notes are outstanding
there shall
be deposited, as shall be provided in the bond
proceedings for
those notes, from the sources authorized for
payment of debt
service on the bonds, amounts sufficient to pay
the principal of
the bonds anticipated as set forth in that
estimated schedule
during the time the notes are outstanding,
which amounts shall be
used solely to pay the principal of those
notes or of the bonds
anticipated. (b) Obligations for the refunding, including funding and
retirement, and advance refunding with or without payment or
redemption prior to maturity, of any obligations previously
issued.
Refunding obligations may be issued in amounts sufficient
to pay
or to provide for repayment of the principal amount,
including
principal amounts maturing prior to the redemption of
the
remaining prior obligations, any redemption premium, and
interest
accrued or to accrue to the maturity or redemption date
or dates,
payable on the prior obligations, and related financing
costs and
any expenses incurred or to be incurred in connection
with that
issuance and refunding. Subject to the applicable bond
proceedings, the portion of the proceeds of the sale of refunding
obligations issued under division (J)(1)(b) of this
section to be
applied to
debt service on the prior obligations shall be credited
to an
appropriate separate account in the bond service fund and
held in
trust for the purpose by the issuing authority or by a
corporate
trustee. Obligations authorized under this division
shall be
considered to be issued for those purposes for which the
prior
obligations were issued. (2) Except as otherwise provided in sections 151.01 to
151.09 151.11 or 151.40 of the Revised
Code, bonds or notes
authorized
pursuant to
division (J) of this section are subject to
the
provisions of
those
sections pertaining to obligations
generally. (3) The principal amount of refunding or renewal obligations
issued pursuant to division (J) of this section shall be in
addition
to the amount authorized by the general assembly as
referred to in division
(B) of the following sections: section
151.03, 151.04, 151.05,
151.06, 151.07,
151.08, 151.09, 151.10, 151.11, or
151.40
of the Revised
Code. (K) Obligations are lawful investments for banks, savings
and
loan associations, credit union share guaranty corporations,
trust
companies, trustees, fiduciaries, insurance companies,
including
domestic for life and domestic not for life, trustees or
other
officers having charge of sinking and bond retirement or
other
special funds of the state and political subdivisions and
taxing
districts of this state, the sinking fund, the
administrator of
workers' compensation subject to the approval of
the workers'
compensation board, the state teachers retirement
system, the
public employees retirement system, the school
employees
retirement system, and the Ohio police and fire
pension
fund, notwithstanding any other provisions of the Revised Code or
rules adopted pursuant to those provisions by any state
agency
with respect to investments by them, and are also
acceptable as
security for the repayment of the deposit of public
moneys. The
exemptions from taxation in Ohio as provided for in
particular
sections of the Ohio Constitution and section
5709.76 of the
Revised Code apply to the obligations. (L)(1) Unless otherwise provided or provided for in any
applicable
bond proceedings, moneys to the credit of or in a
special fund
shall be disbursed on the order of the issuing
authority. No such
order is required for the payment, from the
bond service fund or
other special fund, when due of debt service
or required payments
under credit enhancement facilities. (2) Payments received by the state under interest rate
hedges
entered into as credit enhancement facilities under this
chapter shall
be deposited to the credit of the bond service fund
for the obligations
to which those credit enhancement facilities
relate. (M) The full faith and credit, revenue, and taxing power of
the
state are and shall be pledged to the timely payment of debt
service on outstanding obligations as it comes due, all in
accordance with Section
2k, 2l, 2m, 2n,
2o, 2p, or 15 of Article VIII,
Ohio
Constitution, and section 151.03, 151.04, 151.05, 151.06,
151.07,
151.08, or 151.09, 151.10, or 151.11 of the Revised Code. Moneys referred
to in Section
5a
of Article XII, Ohio Constitution, may not be
pledged or used
for
the payment of debt service except on
obligations referred to
in
section 151.06 of the Revised Code.
Net
state lottery proceeds, as provided for and referred to in section
3770.06 of the Revised Code, may not be pledged or used for the
payment of debt service except on obligations referred to in
section 151.03 of the Revised Code.
The
state covenants, and
that
covenant shall be controlling
notwithstanding any other
provision
of law, that the state and the
applicable officers and
agencies of
the state, including the
general assembly, shall, so
long as any
obligations are
outstanding in accordance with their
terms,
maintain statutory
authority for and cause to be levied,
collected
and applied
sufficient pledged excises, taxes, and
revenues of the
state so
that the revenues shall be sufficient in
amounts to pay
debt
service when due, to establish and maintain
any reserves and
other
requirements, and to pay financing costs,
including costs of
or
relating to credit enhancement facilities,
all as provided for
in
the bond proceedings. Those excises,
taxes, and revenues are
and
shall be deemed to be levied and
collected, in addition to the
purposes otherwise provided for by
law, to provide for the payment
of debt service and financing
costs in accordance with sections
151.01 to
151.09 151.11 of the Revised Code and the
bond
proceedings. (N) The general assembly may from time to time repeal or
reduce
any excise, tax, or other source of revenue pledged to the
payment
of the debt service pursuant to Section
2k, 2l, 2m, 2n,
2o, 2p, or
15
of
Article VIII, Ohio Constitution, and sections 151.01
to
151.09 151.11 or 151.40
of the Revised Code, and may levy, collect
and
apply
any
new or
increased excise, tax, or revenue to meet the
pledge,
to
the
payment of debt service on outstanding obligations,
of the
state's
full faith and credit, revenue and taxing power,
or
of designated revenues and receipts, except
fees,
excises or taxes
referred to in Section 5a of
Article XII,
Ohio
Constitution, for
other than obligations referred to in
section
151.06 of the
Revised Code and except net state lottery
proceeds
for other than
obligations referred to in section 151.03
of the
Revised Code.
Nothing in division (N) of this section
authorizes
any
impairment
of the obligation of this state to levy
and collect
sufficient
excises, taxes, and revenues to pay debt
service on
obligations
outstanding in accordance with their terms. (O) Each bond service fund is a trust fund and is hereby
pledged to the payment of debt service on the applicable
obligations. Payment of that debt service shall be made or
provided for by the issuing authority in accordance with the bond
proceedings without necessity for any act of appropriation. The
bond proceedings may provide for the establishment of separate
accounts in the bond service fund and for the application of those
accounts only to debt service on specific obligations, and for
other accounts in the bond service fund within the general
purposes of that fund. (P) Subject to the bond proceedings pertaining to any
obligations
then outstanding in accordance with their terms, the
issuing
authority may in the bond proceedings pledge all, or such
portion
as the issuing authority determines, of the moneys in the
bond
service fund to the payment of debt service on particular
obligations, and for the establishment and maintenance of any
reserves for payment of particular debt service. (Q)
The issuing authority shall by the
fifteenth day of
July of each fiscal year, certify or cause to
be certified to the
office of budget and
management the total
amount of moneys
required during the current
fiscal year to meet
in full all debt
service on the respective
obligations and any
related financing
costs payable from the
applicable bond service
fund and not from
the proceeds of
refunding or renewal
obligations. The issuing
authority
shall make or cause to be made
supplemental
certifications to the
office of budget and management
for each
debt service payment date
and at such other times during
each
fiscal year as may be provided
in the bond proceedings or
requested by that office. Debt
service, costs of credit
enhancement facilities, and other
financing costs shall be set
forth separately in each
certification. If and so long as the
moneys to
the credit of the bond service fund, together with any
other
moneys available for the purpose, are insufficient to meet
in full
all payments when due of the amount required as stated in
the
certificate or otherwise, the office of budget and management
shall at the times as provided in the bond proceedings, and
consistent with any particular provisions in sections 151.03 to
151.09 151.11 and 151.40 of the Revised Code, transfer a sufficient
amount to
the
bond service fund from the pledged revenues in the
case of obligations issued pursuant to section 151.40 of the
Revised Code, and in the case of other obligations from the
revenues derived from excises,
taxes,
and other revenues,
including net state lottery proceeds in
the
case of obligations
referred to in section 151.03 of the
Revised
Code. (R) Unless otherwise provided in any applicable bond
proceedings, moneys to the credit of special funds may be invested
by or on behalf of the state only in one or more of the following: (1) Notes,
bonds, or other direct obligations of the
United
States or of any agency or instrumentality of the United
States,
or in
no-front-end-load money market mutual funds
consisting
exclusively
of those obligations, or in repurchase
agreements,
including those
issued by any fiduciary, secured by
those
obligations, or
in collective investment funds consisting
exclusively of those
obligations; (2) Obligations of this state or any political subdivision
of
this state; (3) Certificates of deposit of any national bank located in
this
state and any bank, as defined in section 1101.01 of the
Revised Code, subject
to inspection by the superintendent of
financial institutions; (4) The treasurer of state's pooled investment program under
section 135.45 of the Revised Code. The income from investments referred to in division (R)
of
this section shall, unless otherwise provided in sections 151.01
to
151.09 151.11 or 151.40
of the Revised Code, be
credited to
special
funds or
otherwise as the
issuing authority determines in
the bond
proceedings. Those
investments may be sold or exchanged
at times
as the issuing
authority determines, provides for, or
authorizes. (S) The treasurer of state shall have responsibility for
keeping
records, making reports, and making payments, relating to
any
arbitrage rebate requirements under the applicable bond
proceedings.
Sec. 151.02. (A) Pursuant to the powers granted to the general
assembly under Article VIII, Ohio
Constitution, to authorize
the issuance of obligations, and pursuant to other authority vested
in the general assembly, there is hereby created a body, both
corporate and politic, constituting an agency and instrumentality
of the state of Ohio and performing essential functions of the
state, to be known as the "Ohio public facilities commission,"
which in that name may contract and be contracted with, sue and be sued, and
exercise all other authority vested in that commission by sections 151.01 to
151.05 and 151.07 to 151.11 and Chapter 154. of the Revised Code. (B) The commission shall consist of, in each case ex officio,
the governor, the treasurer of state, the auditor of state, the
secretary of state, the attorney general, and the director of budget
and management. The governor shall serve as the chairman of the
commission, the director of budget and management shall serve as
its secretary, and the commission shall have such other officers
as it determines, who may but need not be members of the
commission. Four members of the commission constitute a quorum
and the affirmative vote of four members is necessary for any
action taken by vote of the commission. No vacancy in the
membership of the commission shall impair the rights of a quorum
by such vote to exercise all the rights and perform all the
duties of the commission. Each of the state officers above
identified may designate an employee or officer of that officer's
office to attend meetings of the commission when that officer is absent
or unable for any reason to attend and that designee, when present, shall be
counted in determining whether a quorum is present at
any meeting and may vote and participate in all proceedings and
actions of the commission. A designee may not execute or cause a
facsimile signature to be placed on any obligation. That
designation shall be in writing, executed by the designating
member, and be filed with the secretary of the commission. A
designation may be changed from time to time by a similar written
designation. The commission may delegate to such of its members,
officers, or employees as it determines those powers and duties as
it deems appropriate. No member of the commission or designee
shall, by reason of being or serving as a member of the
commission, be required to abstain from action in any other
capacity as an incumbent of a state office or position or from any
action as a member of the commission in any matter affecting or in
any way pertaining to both that office or position and the
commission, or for any purpose be deemed to be disqualified from
either such
office or position or as a member of the commission by reason of
so acting or to have violated any law by reason thereof. The commission may
adopt and alter
bylaws and rules for the conduct of its affairs, including provisions for
meetings, and for the manner, subject to this chapter and Chapter
154. of the Revised Code, in which its powers and functions are to be exercised and embodied
and may adopt and alter at will an official seal to be affixed to official
documents, provided that the failure to affix any such seal shall not affect
the legality of such documents. Members of the commission shall receive no
added compensation for their services as such members but may be reimbursed,
as determined by the commission, for their necessary and actual expenses
incurred in the conduct of the commission's business. (C) In connection with the exercise of its powers pursuant to
this chapter, the commission may enter into contracts and execute all
instruments necessary or incidental to the performance of the commission's
duties and the execution of the authority's powers and do all other acts
necessary or proper to the fulfillment of the commission's purposes and to
carry out the powers expressly granted in this chapter. Sec. 151.10. (A) As used in this section:
(1) "Costs of research and development projects" includes related direct administrative expenses and allocable portions of the direct costs of those projects, costs of capital facilities, and working capital, all for the following:
(a) Attracting researchers and research teams by endowing research chairs or otherwise;
(b) Activities to develop and commercialize products and processes;
(c) Intellectual property matters such as copyrights and patents;
(d) Property interests including timesharing arrangements, capital formation, direct operating costs, and costs of research and facilities including interests in real property therefore; and
(e) Support for public and private institutions of higher education, research organizations or institutions, and private sector entities.
(2) "Obligations" means obligations as defined in section 151.01 of the Revised Code issued to pay costs of projects for research and development purposes as referred to in division (A)(2) of Section 2p of Article VIII, Ohio Constitution.
(3) "Project" means any research and development project, as defined in section 184.10 of the Revised Code, or facility, including undivided or other interests, acquired or to be acquired, constructed or to be constructed, or operating or to be operated by a person doing business in this state or by an educational or scientific institution located in this state with all or part of the cost of the project being paid from a grant or loan from the third frontier research and development fund or a loan guaranteed under Chapter 184. of the Revised Code, including all buildings and facilities determined necessary for the operation of the project, together with all property, rights, easements, and interests that may be required for the operation of the project.
(B) The issuing authority shall issue general obligations of the state to pay costs of research and development projects pursuant to division (B)(2) of Section 2p of Article VIII, Ohio Constitution, section 151.01 of the Revised Code, and this section. The issuing authority shall issue obligations in the amount determined by the issuing authority to be required for those purposes. The total principal amount of obligations issued under this section shall not exceed five hundred million dollars.
(C) Net proceeds of obligations shall be deposited into the third frontier research and development fund created by section 184.19 of the Revised Code.
(D) There is hereby created in the state treasury the third frontier research and development projects bond service fund. All moneys received by the state and required by the bond proceedings, consistent with section 151.01 of the Revised Code and this section, to be deposited, transferred, or credited to the bond service fund, and all other moneys transferred or allocated to or received for the purposes of that fund, shall be deposited and credited to the bond service fund, subject to any applicable provisions of the bond proceedings, but without necessity for any act of appropriation. During the period beginning with the date of the first issuance of obligations and continuing during the time that any obligations are outstanding in accordance with their terms, so long as moneys in the bond service fund are insufficient to pay debt service when due on those obligations payable from that fund, except the principal amounts of bond anticipation notes payable from the proceeds of renewal notes or bonds anticipated, and due in the particular fiscal year, a sufficient amount of revenues of the state is committed and, without necessity for further act of appropriation, shall be paid to the bond service fund for the purpose of paying that debt service when due.
Sec. 151.11. (A) As used in this section:
(1) "Costs of sites and facilities" includes related direct administrative expenses and allocable portions of the direct costs of those projects. "Costs of sites and facilities" includes "allowable costs" as defined in section 122.085 of the Revised Code.
(2) "Obligations" means obligations as defined in section 151.01 of the Revised Code issued to pay costs of sites and facilities in Ohio for and in support of industry, commerce, distribution, and research and development purposes as referred to in division (A)(3) of Section 2p of Article VIII, Ohio Constitution.
(B) The issuing authority shall issue general obligations of the state to pay costs of sites and facilities pursuant to division (B)(3) of Section 2p of Article VIII, Ohio Constitution, section 151.01 of the Revised Code, and this section. The issuing authority shall issue obligations in the amount determined by the issuing authority to be required for those purposes. The total principal amount of obligations issued under this section shall not exceed one hundred fifty million dollars.
(C) Net proceeds of obligations shall be deposited into the job ready site development fund created by section 122.0820 of the Revised Code.
(D) There is hereby created in the state treasury the job ready site development bond service fund. All moneys received by the state and required by the bond proceedings, consistent with section 151.01 of the Revised Code and this section, to be deposited, transferred, or credited to the bond service fund, and all other moneys transferred or allocated to or received for the purposes of that fund, shall be deposited and credited to the bond service fund, subject to any applicable provisions of the bond proceedings, but without necessity for any act of appropriation. During the period beginning with the date of the first issuance of obligations and continuing during the time that any obligations are outstanding in accordance with their terms, so long as moneys in the bond service fund are insufficient to pay debt service when due on those obligations payable from that fund, except the principal amounts of bond anticipation notes payable from the proceeds of renewal notes or bonds anticipated, and due in the particular fiscal year, a sufficient amount of revenues of the state is committed and, without necessity for further act of appropriation, shall be paid to the bond service fund for the purpose of paying that debt service when due.
Sec. 184.01.
(A) There is hereby created the third
frontier commission in the department of development. The purpose
of the commission is to coordinate and administer science and
technology programs to promote the welfare of the people of the
state and to maximize the economic growth of the state through
expansion of both of the following:
(1) The state's high technology research and development
capabilities;
(2) The state's product and process innovation and
commercialization.
(B)(1) The commission shall consist of nine members: the director of
development, the chancellor of the Ohio board of regents, and the
governor's science and technology advisor, and six persons appointed by the governor with the advice and consent of the senate. The (2) Of the six persons appointed by the governor, one shall represent the central region, which is composed of the counties of Delaware, Fairfield, Fayette, Franklin, Hocking, Knox, Licking, Logan, Madison, Marion, Morrow, Perry, Pickaway, Ross, and Union; one shall represent the west central region, which is composed of the counties of Champaign, Clark, Darke, Greene, Miami, Montgomery, Preble, and Shelby; one shall represent the northeast region, which is composed of the counties of Ashland, Ashtabula, Carroll, Crawford, Columbiana, Cuyahoga, Erie, Geauga, Holmes, Huron, Lake, Lorain, Mahoning, Medina, Portage, Richland, Stark, Summit, Trumbull, Tuscarawas, and Wayne; one shall represent the northwest region, which is composed of the counties of Allen, Auglaize, Defiance, Fulton, Hancock, Hardin, Henry, Lucas, Mercer, Ottawa, Paulding, Putnam, Sandusky, Seneca, Van Wert, Williams, Wood, and Wyandot; one shall represent the southeast region, which shall represent the counties of Adams, Athens, Belmont, Coshocton, Gallia, Guernsey, Harrison, Jackson, Jefferson, Lawrence, Meigs, Monroe, Morgan, Muskingum, Noble, Pike, Scioto, Vinton, and Washington; and one shall represent the southwest region, which is composed of the counties of Butler, Brown, Clermont, Clinton, Hamilton, Highland, and Warren. Of the initial appointments, two shall be for one year, two shall be for two years, and two shall be for three years as assigned by the governor. Thereafter, appointments shall be for three-year terms. Members may be reappointed and vacancies shall be filled in the same manner as appointments. A person must have a background in business or research in order to be eligible for appointment to the commission. (3) The governor shall
select a chairperson from among the members, who shall serve in
that role at the pleasure of the governor. Sections 101.82 to
101.87 of the Revised Code do not apply to the commission.
(C) The commission shall meet at least once during each
quarter of the calendar year or at the call of the chairperson. A
majority of all members of the commission constitutes a quorum,
and
no action shall be taken without the concurrence of a majority
of
the members.
(D) The commission shall administer any money that may be
appropriated to it by the general assembly. The commission may use
such money for research and commercialization and for any other
purposes that may be designated by the commission.
(E) The department of development shall provide office space
and facilities for the commission. Administrative costs associated
with the operation of the commission or with any program or
activity administered by the commission shall be paid from amounts
appropriated to the commission or to the department of development
for such purposes.
(F) The attorney general shall serve as the legal
representative for the commission and may appoint other counsel as
necessary for that purpose in accordance with section 109.07 of
the Revised Code.
(G) Members of the commission shall serve without
compensation, but shall receive their reasonable and necessary
expenses incurred in the conduct of commission business.
(H) Members of the commission shall file financial disclosure statements described in division (B) of section 102.02 of the Revised Code.
Sec. 184.02.
(A) The In addition to the powers and duties under sections 184.10 to 184.19 of the Revised Code, the third frontier commission may
perform any act to ensure the performance of any function
necessary or appropriate to carry out the purposes of, and
exercise the powers granted under, sections 184.01 and 184.02 of
the Revised Code. In addition, the commission may do any of the
following:
(1) Adopt, amend, and rescind rules under section 111.15 of
the Revised Code for the administration of any aspect of its
operations;
(2) Adopt bylaws governing its operations, including bylaws
that establish procedures and set policies as may be necessary to
assist with the furtherance of its purposes;
(3) Appoint and set the compensation of employees needed to
carry out its duties;
(4) Contract with, retain the services of, or designate, and
fix the compensation of, such financial consultants, accountants,
other consultants and advisors, and other independent contractors
as may be necessary or desirable to carry out its duties;
(5) Solicit input and comments from the third frontier
advisory board, and specialized industry, professional, and other
relevant interest groups concerning its purposes;
(6) Facilitate alignment of the state's science and
technology programs and activities;
(7) Make grants and loans to individuals, public agencies,
private companies or organizations, or joint ventures for any of
the broad range of activities related to its purposes.
(B) The In addition to the powers and duties under sections 184.10 to 184.18 of the Revised Code, the commission shall do all of the following:
(1) Establish a competitive process for the award of grants
and loans that is designed to fund the most meritorious proposals
and, when appropriate, provide for peer review of proposals;
(2) Within ninety days after the end of each fiscal year,
submit to the governor and the general assembly a report of the
activities of the commission during the preceding fiscal year;
(3) With specific application to the biomedical research and
technology transfer trust fund, periodically make strategic
assessments of the types of state investments in biomedical
research and biotechnology in the state that would likely create
jobs and business opportunities in the state and produce the most
beneficial long-term improvements to the public health of
Ohioans, including, but not limited to, biomedical research and
biotechnology initiatives that address tobacco-related illnesses
as may be outlined in any master agreement. The commission shall
award grants and loans from the fund pursuant to a process
established under division (B)(1) of this section.
Sec. 184.03.
(A) There is hereby created the third
frontier advisory board that, upon request of the third frontier
commission, shall provide general advice to the commission on
various items including, but not limited to, the following:
(1) Strategic planning for programs administered by the
commission;
(2) Budget and funding priorities, funding processes,
request-for-proposal criteria, and other aspects of the management
and coordination of programs administered by the commission;
(3) Metrics and methods of measuring the progress and impact
of programs administered by the commission;
(4) Studies to be conducted to collect and analyze data
relevant to advancing the goals of programs administered by the
commission; (5) The commission's powers and duties under sections 184.10 to 184.19 of the Revised Code.
(B) The board shall consist of sixteen members selected for
their knowledge of and experience in science and technology
matters that may affect the state in the near future. Of the
sixteen members, fourteen shall be appointed by the governor, one
shall be appointed by the speaker of the house of representatives,
and one shall be appointed by the president of the senate.
(1) Of the fourteen members appointed by the governor, nine
shall be representative of or have experience with business
matters that affect the state and five shall be representative of
or have experience with matters affecting universities or
nonprofit research institutions in the state.
(2) Of the governor's initial appointees that are
representative of or have experience with business matters that
affect the state, three shall serve an initial term of one year,
three shall serve an initial term of two years, and three shall
serve an initial term of three years. All of the initial
appointees that are representative of or have experience with
matters affecting university or nonprofit research institutions
shall serve an initial term of three years. Thereafter, each
member appointed by the governor shall serve a three-year term.
(3) All appointees to the board shall serve at the pleasure
of their appointing authorities.
(4) Not more than nine members of the board shall be of the
same political party.
(C) The governor shall appoint the chairperson of the board
from among its members, and the chairperson shall serve in that
role at the pleasure of the governor.
(D) A majority of the members of the board constitutes a
quorum, and no action shall be taken without the affirmative vote
of a majority of the members.
(E) Each member of the board shall hold office from the date
of appointment until the end of the term for which the member was
appointed. A member may be reappointed for an unlimited number of
terms. A member appointed to fill a vacancy occurring prior to the
expiration of the term for which the member's predecessor was
appointed shall hold office for the remainder of such term. A
vacancy in an unexpired term shall be filled in the same manner as
the original appointment. A member of the board shall continue in
office subsequent to the expiration date of the member's term
until the member's successor takes office, or until a period of
sixty days has elapsed, whichever occurs first. The governor may
remove any member of the board for malfeasance, misfeasance, or
nonfeasance after a hearing in accordance with Chapter 119. of the
Revised Code.
(F) Members of the board shall not act as representatives of
any specific disciplinary, regional, or organizational interest.
Members shall represent a wide variety of experience valuable in
technology research and development, product process innovation
and commercialization, and creating and managing high-growth
technology-based companies.
(G) Members of the board shall file financial disclosure
statements described in division (B) of section 102.02 of the
Revised Code.
(H) Members of the board shall serve without compensation but
shall receive their reasonable and necessary expenses incurred in
the conduct of board business.
(I) Before entering upon duties as a member of the board,
each member shall take an oath as provided by Section 7 of
Article XV, Ohio Constitution.
(J) The department of development shall provide office space
and facilities for the board.
(K) Sections 101.82 to 101.87 of the Revised Code do not
apply to the board.
Sec. 184.10. As used in sections 184.10 to 184.19 of the Revised Code:
(A) "In-state entity" includes individuals, public and private entities, agencies, and institutions, private companies or organizations, partnerships, business trusts, or other business entities or ventures, or research organizations, whether for profit or not for profit, that have substantial presence in Ohio.
(B) "Research and development projects" means projects or activities in support of Ohio industry, commerce, and business, which include, without limitation, research and product innovation, development, and commercialization through efforts by, and may include collaboration among, Ohio business and industry, state and local public entities and agencies, public and private institutions, or research organizations. Those projects and activities also include projects and activities supporting any and all matters related to research and development purposes including: attracting researchers and research teams by endowing chairs or otherwise; developing and commercializing products and processes; promoting, developing, and securing intellectual property matters and rights such as copyrights and patents; promoting, developing, and securing property interests, including time sharing arrangements; and promoting, developing, and securing financial rights and matters such as royalties, licensing, and other financial gain or sharing resulting from research and development.
Sec. 184.11. The third frontier commission may award support to individuals, public and private entities, agencies, and institutions, private companies or organizations, partnerships, business trusts, or other business entities or ventures, research organizations, whether for profit or not for profit, or combinations or consortiums of any of the foregoing for the purpose of supporting research and development projects. The support may be in such manner as the commission determines, including by any one or a combination of grants, loans, including loans to lenders or the purchase of loans, subsidies, contributions, advances, or guarantees, or by payment or reimbursement from available money, or by providing staffing or other support including computer or other technology capacity, or equipment or facilities, including interests in real property.
Sec. 184.111. Except with respect to support subject to an agreement under section 184.114 of the Revised Code, the third frontier commission may award the support described in section 184.11 of the Revised Code only to in-state entities. If an entity awarded support is collaborating with any entity that is not an in-state entity on the research and development project for which the support was awarded, the in-state entity may provide any portion of that support to the other entity only if the commission, in its discretion and only under exceptional circumstances that the commission determines, permits it.
Sec. 184.112. The third frontier commission shall establish a competitive process for making awards of the support described in section 184.11 of the Revised Code that is designed to fund the research and development projects that have the most merit. The commission, on completion of that process, shall make a recommendation to the controlling board asking for approval to award support for the research and development projects selected by the commission.
Sec. 184.113. The third frontier commission shall require each individual, public and private entity, agency, and institution, private company or organization, partnership, business trust, or other business entity or venture, research organization, or combination or consortium of any of the foregoing that the controlling board approves to receive the support described in section 184.11 of the Revised Code to enter into an agreement governing the use of the support for the research and development project. The agreement shall contain terms the commission determines to be necessary, including provisions stating that any support given by the commission may be used to pay costs of or in support of or related to research and development purposes, including, without limitation, capital formation, direct operating costs, costs of research and facilities, including interests in real property, and support for public and private institutions of higher education, research organizations or institutions, and private sector entities.
Sec. 184.114. If the third frontier commission intends to award support for a research and development project under section 184.11 of the Revised Code to an individual or private entity, agency, institution, company, partnership, business trust, or other business entity or venture, or organization, the agreement governing the use of the support entered into under section 184.113 of the Revised Code shall require both of the following:
(A) The project shall primarily benefit this state.
(B) If the recipient of the support is not an in-state entity, it shall become an in-state entity not later than six months after entering into the agreement.
Sec. 184.115. An individual or private entity, agency, institution, company, partnership, business trust, or other business entity or venture, or organization that has received support under section 184.11 of the Revised Code for a research and development project and that violates the requirements of section 184.114 of the Revised Code forfeits the support and must repay the support amount or the equivalent in money plus interest at the rate required by section 5703.47 of the Revised Code to the third frontier commission. If all or a portion of the support forfeited is other than in the form of a grant, recovery of the support shall be governed by the agreement entered into under section 184.113 of the Revised Code.
Sec. 184.116. If the third frontier commission utilizes independent reviewers to review the merits of proposed research and development projects and to make recommendations to the commission concerning which projects should be awarded support under section 184.11 of the Revised Code and the commission takes one of the following actions, the commission shall provide a written explanation of the reasons for its action and present the explanation at one of the commission's regularly scheduled public meetings:
(A) Awards support for a project that the reviewers do not recommend;
(B) Refuses to award support for a project the reviewers do recommend;
(C) Makes a support award that varies substantially from the reviewers' recommendation.
The commission, pursuant to Chapter 119. of the Revised Code, shall adopt rules necessary and proper to govern explanations required under this section.
Sec. 184.12. Individuals, Ohio businesses and industries, local public entities and agencies, public and private education institutions, including state-supported and state-assisted institutions of higher education, the state and state agencies, and research organizations and institutions may collaborate on research and development projects.
Sec. 184.13. The state shall have no ownership interest in any business or private entity, agency, institution, company, partnership, business trust, venture, or organization that has received support for a research and development project under section 184.11 of the Revised Code, and shall assume no shared risk or shared liability. Sec. 184.14. The third frontier commission shall establish procedures that permit public inspection of all support awarded under section 184.11 of the Revised Code for research and development projects and the processes used to determine which projects shall receive support.
Sec. 184.15. The third frontier commission shall publish a report twice each year detailing all support awarded under section 184.11 of the Revised Code for research and development projects, including the amount or type of support and the progress and performance metrics for the projects. A copy of each report shall be delivered to the governor, speaker and minority leader of the house of representatives, and president and minority leader of the senate.
Sec. 184.151. The third frontier commission shall conduct public meetings twice each year at which a representative of the department of development shall testify regarding the number of applicants for support for research and development projects and the other information contained in the most recent report made by the commission under section 184.15 of the Revised Code. The representative shall also testify regarding the monitoring activities of, and data obtained by, the department pursuant to section 184.16 of the Revised Code. In addition to oral testimony, the representative shall provide a written report of all the information for which testimony is required under this section.
Sec. 184.16. The department of development shall monitor each research and development project receiving support under section 184.11 of the Revised Code to ensure the following:
(A) Fiscal accountability, so that the support is used in accordance with the agreement entered into under section 184.113 of the Revised Code;
(B) Operating progress, so that the project is managed to achieve the requirements of the agreement entered into under section 184.113 of the Revised Code and so that problems may be promptly identified and remedied;
(C) Desired outcomes, including job creation and other anticipated economic impacts.
Sec. 184.17. As used in sections 184.171, 184.172, and 184.173 of the Revised Code, "minority" means an individual who is a United States citizen and who is a member of one of the following economically disadvantaged groups: Blacks or African Americans, American Indians, Hispanics or Latinos, and Asians.
Sec. 184.171. The third frontier commission shall conduct outreach activities described in section 184.172 of the Revised Code that seek to include minorities in the various projects and initiatives sponsored, funded, encouraged, or otherwise promoted by the commission. The commission shall direct the activities at faculty and students involved in science and engineering disciplines, professional scientists and engineers, technical assistance providers, the investment community, minority-owned businesses, and minority entrepreneurs.
Sec. 184.172. The outreach activities the third frontier commission shall conduct under section 184.171 of the Revised Code shall include the following:
(A) Identifying and partnering with historically black colleges and universities to solicit and implement a minority technology demonstration project funded by the national science foundation;
(B) Working with all institutions of higher education in the state to support minority faculty and students involved in science and engineering;
(C) Developing a plan to contact by telephone minority-owned businesses and entrepreneurs to notify them of and encourage them to participate in the various third frontier projects and initiatives;
(D) Identifying minority professional and technical trade associations and economic development assistance organizations and notifying them of the various third frontier projects and initiatives;
(E) Partnering with regional technology councils to foster local efforts to support minority-owned technology businesses or otherwise identify networks of minority-owned technology businesses, entrepreneurs, and individuals operating locally;
(F) Identifying minority technology firms and marketing them to the investment community including the Ohio venture capital authority created under section 150.02 of the Revised Code and the managers of all investment funds receiving third frontier project support.
Sec. 184.173. The third frontier commission shall conduct the outreach activities described in sections 184.171 and 184.172 of the Revised Code in conjunction with the EDGE program created under section 123.152 of the Revised Code.
Sec. 184.18. (A) As used in this section:
(1) "Metropolitan statistical area" means an area of this state that is designated a metropolitan statistical area or primary metropolitan statistical area in United States office of management and budget bulletin No. 04-03, February 18, 2004, and its attachments, and the designated area is located entirely within this state. An area of this state that is designated a metropolitan statistical area or primary metropolitan statistical area, but the designated area includes areas of one or more other states, shall be considered a metropolitan statistical area only if that area of this state could be designated a metropolitan statistical area or primary metropolitan statistical area without including the areas located in the other state or states.
(2) "Rural area" means any area of this state not located within a metropolitan statistical area.
(B) The third frontier commission shall conduct outreach activities that seek to include rural areas in the various projects and initiatives sponsored, funded, encouraged, or otherwise promoted by the commission. Those activities shall include the following:
(1) Working with all institutions of higher education in the state to support faculty and students involved in science and engineering who focus on third frontier projects and initiatives in rural areas;
(2) Developing a plan to contact by telephone businesses and entrepreneurs in rural areas to notify them of and encourage them to participate in the various third frontier projects and initiatives;
(3) Identifying professional and technical trade associations and economic development assistance organizations in rural areas and notifying them of the various third frontier projects and initiatives;
(4) Partnering with regional technology councils to foster local efforts to support technology businesses in rural areas or otherwise identify networks of technology businesses, entrepreneurs, and individuals operating in rural areas;
(5) Identifying technology firms in rural areas and marketing them to the investment community including the Ohio venture capital authority created under section 150.02 of the Revised Code and the managers of all investment funds receiving third frontier project support. Sec. 184.19. The third frontier research and development fund is hereby created in the state treasury. The fund shall consist of the net proceeds of the obligations issued and sold by the issuing authority pursuant to sections 151.01 and 151.10 of the Revised Code. Investment earnings of the fund shall be credited to the fund. Moneys in the fund shall be used in accordance with sections 184.10 to 184.18 of the Revised Code and for associated administrative expenses.
Section 2. That existing sections 151.01, 151.02, 184.01, 184.02, and 184.03 of the Revised Code are hereby repealed.
Section 3. The Governor shall make the appointments to the Third Frontier Commission required under section 184.01 of the Revised Code not later than April 1, 2006. The Commission shall be officially expanded on that date and the initial terms of office of those persons appointed shall begin on that date. Section 4. That Sections 203.99, 203.99.33, 203.99.51, and 209.99 of Am. Sub. H.B. 66 of the 126th General Assembly be amended to read as follows:
Sec. 203.99. DEV DEPARTMENT OF DEVELOPMENT
GRF |
195-321 |
|
Operating Expenses |
|
$ |
2,738,908 |
|
$ |
2,723,908 |
GRF |
195-401 |
|
Thomas Edison Program |
|
$ |
17,554,838 |
|
$ |
17,454,838 |
GRF |
195-404 |
|
Small Business Development |
|
$ |
1,740,722 |
|
$ |
1,740,722 |
GRF |
195-405 |
|
Minority Business Development Division |
|
$ |
1,580,291 |
|
$ |
1,580,291 |
GRF |
195-407 |
|
Travel and Tourism |
|
$ |
6,812,845 |
|
$ |
6,712,845 |
GRF |
195-410 |
|
Defense Conversion Assistance |
|
$ |
300,000 |
|
$ |
200,000 |
GRF |
195-412 |
|
Business Development Grants |
|
$ |
11,750,000 |
|
$ |
11,750,000 |
GRF |
195-415 |
|
Economic Development Division and Regional Offices |
|
$ |
5,794,975 |
|
$ |
5,894,975 |
GRF |
195-416 |
|
Governor's Office of Appalachia |
|
$ |
4,122,372 |
|
$ |
4,122,372 |
GRF |
195-422 |
|
Third Frontier Action Fund |
|
$ |
16,790,000 |
|
$ |
16,790,000 |
GRF |
195-426 |
|
Clean Ohio Implementation |
|
$ |
300,000 |
|
$ |
300,000 |
GRF |
195-432 |
|
International Trade |
|
$ |
4,223,787 |
|
$ |
4,223,787 |
GRF |
195-434 |
|
Investment in Training Grants |
|
$ |
12,227,500 |
|
$ |
12,227,500 |
GRF |
195-436 |
|
Labor/Management Cooperation |
|
$ |
811,869 |
|
$ |
811,869 |
GRF |
195-497 |
|
CDBG Operating Match |
|
$ |
1,040,956 |
|
$ |
1,040,956 |
GRF |
195-498 |
|
State Match Energy |
|
$ |
94,000 |
|
$ |
94,000 |
GRF |
195-501 |
|
Appalachian Local Development Districts |
|
$ |
380,080 |
|
$ |
380,080 |
GRF |
195-502 |
|
Appalachian Regional Commission Dues |
|
$ |
246,803 |
|
$ |
246,803 |
GRF |
195-507 |
|
Travel
and Tourism Grants |
|
$ |
1,287,500 |
|
$ |
1,162,500 |
GRF |
195-515 |
|
Economic Development Contingency |
|
$ |
10,000,000 |
|
$ |
0 |
GRF |
195-905 |
|
Third Frontier Research & Commercialization Development General Obligation Debt Service |
|
$ |
0 |
|
$ |
13,910,000 |
GRF |
195-912 |
|
Job Ready Site Development General Obligation Debt Service |
|
$ |
0 |
|
$ |
4,124,400 |
TOTAL GRF General Revenue Fund |
|
$ |
99,797,446 |
|
$ |
103,367,446 107,491,846 |
General Services Fund Group
135 |
195-605 |
|
Supportive Services |
|
$ |
7,450,000 |
|
$ |
7,539,686 |
5AD |
195-667 |
|
Investment in Training Expansion |
|
$ |
5,000,000 |
|
$ |
5,000,000 |
5AD |
195-668 |
|
Worker Guarantee Program |
|
$ |
3,000,000 |
|
$ |
3,000,000 |
5AD |
195-677 |
|
Economic Development Contingency |
|
$ |
0 |
|
$ |
10,000,000 |
685 |
195-636 |
|
General Reimbursements |
|
$ |
1,000,000 |
|
$ |
1,000,000 |
TOTAL GSF General Services Fund |
|
|
|
|
|
|
Group |
|
$ |
16,450,000 |
|
$ |
26,539,686 |
Federal Special Revenue Fund Group
3AE |
195-643 |
|
Workforce Development Initiatives |
|
$ |
5,800,000 |
|
$ |
5,800,000 |
3K8 |
195-613 |
|
Community Development Block Grant |
|
$ |
65,000,000 |
|
$ |
65,000,000 |
3K9 |
195-611 |
|
Home Energy Assistance Block Grant |
|
$ |
90,500,000 |
|
$ |
90,500,000 |
3K9 |
195-614 |
|
HEAP Weatherization |
|
$ |
16,219,478 |
|
$ |
16,219,478 |
3L0 |
195-612 |
|
Community Services Block Grant |
|
$ |
25,235,000 |
|
$ |
25,235,000 |
3V1 |
195-601 |
|
HOME Program |
|
$ |
40,000,000 |
|
$ |
40,000,000 |
308 |
195-602 |
|
Appalachian Regional Commission |
|
$ |
600,660 |
|
$ |
600,660 |
308 |
195-603 |
|
Housing and Urban Development |
|
$ |
5,000,000 |
|
$ |
5,000,000 |
308 |
195-605 |
|
Federal Projects |
|
$ |
15,300,249 |
|
$ |
15,300,249 |
308 |
195-609 |
|
Small Business Administration |
|
$ |
4,296,381 |
|
$ |
4,296,381 |
308 |
195-618 |
|
Energy Federal Grants |
|
$ |
3,397,659 |
|
$ |
3,397,659 |
335 |
195-610 |
|
Oil Overcharge |
|
$ |
3,000,000 |
|
$ |
3,000,000 |
TOTAL FED Federal Special Revenue |
|
|
|
|
|
|
Fund Group |
|
$ |
274,349,427 |
|
$ |
274,349,427 |
State Special Revenue Fund Group
4F2 |
195-639 |
|
State Special Projects |
|
$ |
290,183 |
|
$ |
290,183 |
4F2 |
195-676 |
|
Promote Ohio |
|
$ |
5,228,210 |
|
$ |
5,228,210 |
4S0 |
195-630 |
|
Enterprise Zone Operating |
|
$ |
275,000 |
|
$ |
275,000 |
4S1 |
195-634 |
|
Job Creation Tax Credit Operating |
|
$ |
375,800 |
|
$ |
375,800 |
4W1 |
195-646 |
|
Minority Business Enterprise Loan |
|
$ |
2,580,597 |
|
$ |
2,580,597 |
444 |
195-607 |
|
Water and Sewer Commission Loans |
|
$ |
523,775 |
|
$ |
523,775 |
450 |
195-624 |
|
Minority Business Bonding Program Administration |
|
$ |
53,967 |
|
$ |
53,967 |
451 |
195-625 |
|
Economic Development Financing Operating |
|
$ |
2,358,311 |
|
$ |
2,358,311 |
5CA |
195-678 |
|
Shovel Ready Sites |
|
$ |
5,000,000 |
|
$ |
5,000,000 |
5CG |
195-679 |
|
Alternative Fuel Transportation |
|
$ |
150,000 |
|
$ |
150,000 |
5CV |
195-680 |
|
Defense Conversion Assistance |
|
$ |
1,000,000 |
|
$ |
0 |
5CY |
195-682 |
|
Lung Cancer and Lung Disease Research |
|
$ |
10,000,000 |
|
$ |
0 |
5M4 |
195-659 |
|
Universal Service |
|
$ |
210,000,000 |
|
$ |
210,000,000 |
5M5 |
195-660 |
|
Energy Efficiency Loan and Grant |
|
$ |
12,000,000 |
|
$ |
12,000,000 |
5X1 |
195-651 |
|
Exempt Facility Inspection |
|
$ |
25,000 |
|
$ |
25,000 |
611 |
195-631 |
|
Water and Sewer Administration |
|
$ |
15,713 |
|
$ |
15,713 |
617 |
195-654 |
|
Volume Cap Administration |
|
$ |
200,000 |
|
$ |
200,000 |
646 |
195-638 |
|
Low- and Moderate- Income Housing Trust Fund |
|
$ |
53,000,000 |
|
$ |
53,000,000 |
TOTAL SSR State Special Revenue |
|
|
|
|
|
|
Fund Group |
|
$ |
303,076,556 |
|
$ |
292,076,556 |
Facilities Establishment Fund Group
009 |
195-664 |
|
Innovation Ohio |
|
$ |
50,000,000 |
|
$ |
50,000,000 |
010 |
195-665 |
|
Research and Development |
|
$ |
50,000,000 |
|
$ |
50,000,000 |
037 |
195-615 |
|
Facilities Establishment |
|
$ |
63,931,149 |
|
$ |
63,931,149 |
4Z6 |
195-647 |
|
Rural Industrial Park Loan |
|
$ |
3,000,000 |
|
$ |
3,000,000 |
5D2 |
195-650 |
|
Urban Redevelopment Loans |
|
$ |
5,475,000 |
|
$ |
5,475,000 |
5H1 |
195-652 |
|
Family Farm Loan Guarantee |
|
$ |
1,000,000 |
|
$ |
1,000,000 |
5S8 |
195-627 |
|
Rural Development Initiative |
|
$ |
3,000,000 |
|
$ |
3,000,000 |
5S9 |
195-628 |
|
Capital Access Loan Program |
|
$ |
3,000,000 |
|
$ |
3,000,000 |
TOTAL 037 Facilities |
|
|
|
|
|
|
Establishment Fund Group |
|
$ |
179,406,149 |
|
$ |
179,406,149 |
Clean Ohio Revitalization Fund
003 |
195-663 |
|
Clean Ohio Operating |
|
$ |
350,000 |
|
$ |
350,000 |
TOTAL 003 Clean Ohio Revitalization Fund |
|
$ |
350,000 |
|
$ |
350,000 |
Third Frontier Research & Development Fund Group
011 |
195-686 |
|
Third Frontier Operating |
|
$ |
713,028 |
|
$ |
1,932,056 |
011 |
195-687 |
|
Third Frontier Research & Development Projects |
|
$ |
100,000,000 |
|
$ |
100,000,000 |
TOTAL 011 Third Frontier Research & Development Fund Group |
|
$ |
100,713,028 |
|
$ |
101,932,056 |
Job Ready Site Development Fund Group
012 |
195-688 |
|
Job Ready Site Operating |
|
$ |
622,200 |
|
$ |
746,155 |
TOTAL 012 Job Ready Site Development Fund Group |
|
$ |
622,200 |
|
$ |
746,155 |
TOTAL ALL BUDGET FUND GROUPS |
|
$ |
873,429,578 974,764,806 |
|
$ |
876,089,264 982,891,875 |
Sec. 203.99.33. THIRD FRONTIER RESEARCH & COMMERCIALIZATION DEVELOPMENT GENERAL OBLIGATION DEBT SERVICE
The foregoing appropriation item 195-905, Third Frontier Research & Commercialization Development General Obligation Debt Service, shall be used to pay all debt service and related financing costs during the period from July 1, 2005, to June 30, 2007, on obligations to be issued for research and development purposes, as authorized by the Ohio Constitution and implementing statutes under sections 151.01 and 151.10 of the Revised Code. The Office of the Sinking Fund or the Director of Budget and Management shall effectuate the required payments by intrastate transfer voucher.
JOB READY SITE DEVELOPMENT GENERAL OBLIGATION DEBT SERVICE The foregoing appropriation item 195-912, Job Ready Site Development General Obligation Debt Service, shall be used to pay all debt service and related financing costs during the period from July 1, 2005, to June 30, 2007, on obligations to be issued for job ready site development purposes under sections 151.01 and 151.11 of the Revised Code. The Office of the Sinking Fund or the Director of Budget and Management shall effectuate the required payments by intrastate transfer voucher. Sec. 203.99.51. CLEAN OHIO OPERATING EXPENSES The foregoing appropriation item 195-663, Clean Ohio Operating, shall be used by the Department of Development in administering sections 122.65 to 122.658 of the Revised Code.
The foregoing appropriation item 195-686, Third Frontier Operating, shall be used for operating expenses incurred by the Department of Development in administering sections 184.10 to 184.19 of the Revised Code. THIRD FRONTIER RESEARCH & DEVELOPMENT PROJECTS The foregoing appropriation item 195-687, Third Frontier Research & Development Projects, shall be used by the Department of Development to fund selected projects pursuant to sections 184.10 to 184.19 of the Revised Code. On or before June 30, 2006, any unencumbered balance of the foregoing appropriation item 195-687, Third Frontier Research & Development Projects, for fiscal year 2006 is hereby appropriated for the same purpose for fiscal year 2007. AUTHORITY TO ISSUE AND SELL ORIGINAL OBLIGATIONS The Ohio Public Facilities Commission, upon request of the Department of Development, is hereby authorized to issue and sell, in accordance with Section 2p of Article VIII, Ohio Constitution, and particularly sections 151.01 and 151.10 of the Revised Code, original obligations of the State of Ohio in an aggregate amount not to exceed $200,000,000. The authorized obligations shall be issued and sold from time to time and in amounts necessary to ensure sufficient moneys to the credit of the Third Frontier Research & Development Fund (Fund 011) to pay costs of research and development projects. The foregoing appropriation item 195-688, Job Ready Site Operating, shall be used for operating expenses incurred by the Department of Development in administering sections 122.085 to 122.0820 of the Revised Code. Operating expenses include, but are not limited to, certain expenses of the District Public Works Integrating Committees, audit and accountability activities, and costs associated with formal certifications verifying that site infrastructure is in place and is functional. Sec. 209.99. CSF COMMISSIONERS OF THE SINKING FUND
070 |
155-905 |
|
Third Frontier Research & Development Projects Bond Service Fund |
|
$ |
0 |
|
$ |
13,910,000 |
072 |
155-902 |
|
Highway Capital Improvements Bond Retirement Fund |
|
$ |
180,620,600 |
|
$ |
196,464,900 |
073 |
155-903 |
|
Natural Resources Bond Retirement Fund |
|
$ |
26,166,000 |
|
$ |
24,659,100 |
074 |
155-904 |
|
Conservation Projects Bond Service Fund |
|
$ |
14,687,300 |
|
$ |
17,668,800 |
076 |
155-906 |
|
Coal Research and Development Bond Retirement Fund |
|
$ |
7,071,100 |
|
$ |
8,980,800 |
077 |
155-907 |
|
State Capital Improvements Bond
Retirement Fund |
|
$ |
163,131,400 |
|
$ |
174,545,100 |
078 |
155-908 |
|
Common Schools Bond Retirement Fund |
|
$ |
200,724,700 |
|
$ |
236,911,500 |
079 |
155-909 |
|
Higher Education
Bond Retirement Fund |
|
$ |
140,600,300 |
|
$ |
158,114,100 |
090 |
155-912 |
|
Job Ready Site Development Bond Service Fund |
|
$ |
0 |
|
$ |
4,124,400 |
TOTAL DSF Debt Service Fund Group |
|
$ |
733,001,400 |
|
$ |
817,344,300 835,378,700 |
TOTAL ALL BUDGET FUND GROUPS |
|
$ |
733,001,400 |
|
$ |
817,344,300 835,378,700 |
ADDITIONAL APPROPRIATIONS Appropriation items in this section are for the purpose of
paying debt service and financing costs on bonds or notes of the
state issued under the Ohio
Constitution and acts of the
General Assembly. If it is
determined that additional
appropriations are necessary for this purpose, such
amounts are appropriated.
COMMISSIONER OF THE SINKING FUND HIGHWAY BOND TRANSFER AUTHORIZATION
Notwithstanding any other provision of law to the contrary, the Commissioners of the Sinking Fund shall certify to the Director of Budget and Management, and the director shall then transfer, the cash balance remaining after provision for the payment of all outstanding bonds, notes, coupons, and charges from the Highway Obligation Bond Retirement Fund (Fund 071) to the Highway Capital Improvements Bond Service Fund (Fund 072), created by section 151.06 of the Revised Code, as expeditiously as possible after the effective date of this section. Section 5. That existing Sections 203.99, 203.99.33, 203.99.51, and 209.99 of Am. Sub. H.B. 66 of the 126th General Assembly are hereby repealed. Section 6. All items set forth in this section are hereby appropriated out of any moneys in the state treasury to the credit of the Job Ready Site Development Fund (Fund 012) that are not otherwise appropriated. The appropriations made in this section are in addition to any other capital appropriations made for the 2004-2006 biennium.
DEV DEPARTMENT OF DEVELOPMENT
CAP-003 |
|
Job Ready Site Development |
|
$ |
30,000,000 |
TOTAL Department of Development |
|
$ |
30,000,000 |
TOTAL Job Ready Site Development Fund |
|
$ |
30,000,000 |
JOB READY SITE DEVELOPMENT
The foregoing appropriation item CAP-003, Job Ready Site Development, shall be used by the Department of Development in accordance with sections 122.085 to 122.0820 of the Revised Code and is subject to all provisions of Am. Sub. H.B. 16 of the 126th General Assembly that are generally applicable to capital appropriations. Section 7. The Ohio Public Facilities Commission, upon request of the Department of Development, is hereby authorized to issue and sell, in accordance with Section 2p of Article VIII, Ohio Constitution, and particularly sections 151.01 and 151.11 of the Revised Code, original obligations of the State of Ohio in an aggregate amount not to exceed $30,000,000. The authorized obligations shall be issued and sold from time to time and in amounts necessary to ensure sufficient moneys to the credit of the Job Ready Site Development Fund (Fund 012) to pay costs of sites and facilities. Section 8. Except as otherwise specifically provided in this act, a codified or uncodified section of law contained in this act is not subject to the referendum. Therefore, under Ohio Constitution, Article II, Section 1d and section 1.471 of the Revised Code, the codified and uncodified sections of law in this act, except as otherwise specifically provided in this act, go into immediate effect when this act becomes law. Section 9. Sections 6 and 7 of this act are subject to the referendum. Therefore, under Ohio Constitution, Article II, Section 1c and section 1.471 of the Revised Code, those sections take effect on the ninety-first day after this act is filed with the Secretary of State. If, however, a referendum petition is filed against the sections as enacted, those sections, unless rejected at the referendum, take effect at the earliest time permitted by law.
|