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Am. H. B. No. 494 As Passed by the HouseAs Passed by the House
130th General Assembly | Regular Session | 2013-2014 |
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Cosponsors:
Representatives Hagan, C., Slesnick, Slaby, Amstutz, Landis, Barborak, Blair, Boose, Brown, Burkley, Damschroder, Grossman, Hackett, Hill, Maag, Young, Adams, R., Hottinger, Williams, Rogers, Adams, J., Anielski, Antonio, Beck, Blessing, Green, Huffman, Johnson, McClain, Milkovich, Patterson, Romanchuk, Ruhl, Scherer, Sheehy, Terhar, Thompson
A BILL
To amend sections 133.01, 4504.08, and 4504.09 and to
enact sections 4504.22 and 5595.01 to 5595.14 of
the Revised Code to authorize counties to
undertake regional transportation improvement
projects funded by the issuance of securities and
by revenue pledges from the state and political
subdivisions and taxing districts located within
the cooperating counties.
BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF OHIO:
Section 1. That sections 133.01, 4504.08, and 4504.09 be
amended and sections 4504.22, 5595.01, 5595.02, 5595.03, 5595.04,
5595.05, 5595.06, 5595.07, 5595.08, 5595.09, 5595.10, 5595.11,
5595.12, 5595.13, and 5595.14 of the Revised Code be enacted to
read as follows:
Sec. 133.01. As used in this chapter, in sections 9.95,
9.96, and 2151.655 of the Revised Code, in other sections of the
Revised Code that make reference to this chapter unless the
context does not permit, and in related proceedings, unless
otherwise expressly provided:
(A) "Acquisition" as applied to real or personal property
includes, among other forms of acquisition, acquisition by
exercise of a purchase option, and acquisition of interests in
property, including, without limitation, easements and
rights-of-way, and leasehold and other lease interests initially
extending or extendable for a period of at least sixty months.
(B) "Anticipatory securities" means securities, including
notes, issued in anticipation of the issuance of other securities.
(C) "Board of elections" means the county board of elections
of the county in which the subdivision is located. If the
subdivision is located in more than one county, "board of
elections" means the county board of elections of the county that
contains the largest portion of the population of the subdivision
or that otherwise has jurisdiction in practice over and
customarily handles election matters relating to the subdivision.
(D) "Bond retirement fund" means the bond retirement fund
provided for in section 5705.09 of the Revised Code, and also
means a sinking fund or any other special fund, regardless of the
name applied to it, established by or pursuant to law or the
proceedings for the payment of debt charges. Provision may be made
in the applicable proceedings for the establishment in a bond
retirement fund of separate accounts relating to debt charges on
particular securities, or on securities payable from the same or
common sources, and for the application of moneys in those
accounts only to specified debt charges on specified securities or
categories of securities. Subject to law and any provisions in the
applicable proceedings, moneys in a bond retirement fund or
separate account in a bond retirement fund may be transferred to
other funds and accounts.
(E) "Capitalized interest" means all or a portion of the
interest payable on securities from their date to a date stated or
provided for in the applicable legislation, which interest is to
be paid from the proceeds of the securities.
(F) "Chapter 133. securities" means securities authorized by
or issued pursuant to or in accordance with this chapter.
(G) "County auditor" means the county auditor of the county
in which the subdivision is located. If the subdivision is located
in more than one county, "county auditor" means the county auditor
of the county that contains the highest amount of the tax
valuation of the subdivision or that otherwise has jurisdiction in
practice over and customarily handles property tax matters
relating to the subdivision. In the case of a county that has
adopted a charter, "county auditor" means the officer who
generally has the duties and functions provided in the Revised
Code for a county auditor.
(H) "Credit enhancement facilities" means letters of credit,
lines of credit, stand-by, contingent, or firm securities purchase
agreements, insurance, or surety arrangements, guarantees, and
other arrangements that provide for direct or contingent payment
of debt charges, for security or additional security in the event
of nonpayment or default in respect of securities, or for making
payment of debt charges to and at the option and on demand of
securities holders or at the option of the issuer or upon certain
conditions occurring under put or similar arrangements, or for
otherwise supporting the credit or liquidity of the securities,
and includes credit, reimbursement, marketing, remarketing,
indexing, carrying, interest rate hedge, and subrogation
agreements, and other agreements and arrangements for payment and
reimbursement of the person providing the credit enhancement
facility and the security for that payment and reimbursement.
(I) "Current operating expenses" or "current expenses" means
the lawful expenditures of a subdivision, except those for
permanent improvements and for payments of debt charges of the
subdivision.
(J) "Debt charges" means the principal, including any
mandatory sinking fund deposits and mandatory redemption payments,
interest, and any redemption premium, payable on securities as
those payments come due and are payable. The use of "debt charges"
for this purpose does not imply that any particular securities
constitute debt within the meaning of the Ohio Constitution or
other laws.
(K) "Financing costs" means all costs and expenses relating
to the authorization, including any required election, issuance,
sale, delivery, authentication, deposit, custody, clearing,
registration, transfer, exchange, fractionalization, replacement,
payment, and servicing of securities, including, without
limitation, costs and expenses for or relating to publication and
printing, postage, delivery, preliminary and final official
statements, offering circulars, and informational statements,
travel and transportation, underwriters, placement agents,
investment bankers, paying agents, registrars, authenticating
agents, remarketing agents, custodians, clearing agencies or
corporations, securities depositories, financial advisory
services, certifications, audits, federal or state regulatory
agencies, accounting and computation services, legal services and
obtaining approving legal opinions and other legal opinions,
credit ratings, redemption premiums, and credit enhancement
facilities. Financing costs may be paid from any moneys available
for the purpose, including, unless otherwise provided in the
proceedings, from the proceeds of the securities to which they
relate and, as to future financing costs, from the same sources
from which debt charges on the securities are paid and as though
debt charges.
(L) "Fiscal officer" means the following, or, in the case of
absence or vacancy in the office, a deputy or assistant authorized
by law or charter to act in the place of the named officer, or if
there is no such authorization then the deputy or assistant
authorized by legislation to act in the place of the named officer
for purposes of this chapter, in the case of the following
subdivisions:
(1) A county, the county auditor;
(2) A municipal corporation, the city auditor or village
clerk or clerk-treasurer, or the officer who, by virtue of a
charter, has the duties and functions provided in the Revised Code
for the city auditor or village clerk or clerk-treasurer;
(3) A school district, the treasurer of the board of
education;
(4) A regional water and sewer district, the secretary of the
board of trustees;
(5) A joint township hospital district, the treasurer of the
district;
(6) A joint ambulance district, the clerk of the board of
trustees;
(7) A joint recreation district, the person designated
pursuant to section 755.15 of the Revised Code;
(8) A detention facility district or a district organized
under section 2151.65 of the Revised Code or a combined district
organized under sections 2152.41 and 2151.65 of the Revised Code,
the county auditor of the county designated by law to act as the
auditor of the district;
(9) A township, a fire district organized under division (C)
of section 505.37 of the Revised Code, or a township police
district, the fiscal officer of the township;
(10) A joint fire district, the clerk of the board of
trustees of that district;
(11) A regional or county library district, the person
responsible for the financial affairs of that district;
(12) A joint solid waste management district, the fiscal
officer appointed by the board of directors of the district under
section 343.01 of the Revised Code;
(13) A joint emergency medical services district, the person
appointed as fiscal officer pursuant to division (D) of section
307.053 of the Revised Code;
(14) A fire and ambulance district, the person appointed as
fiscal officer under division (B) of section 505.375 of the
Revised Code;
(15) A subdivision described in division (MM)(19) of this
section, the officer who is designated by law as or performs the
functions of its chief fiscal officer;
(16) A joint police district, the treasurer of the district;
(17) A lake facilities authority, the fiscal officer
designated under section 353.02 of the Revised Code;
(18) A regional transportation improvement project, the
county auditor designated under section 5595.10 of the Revised
Code.
(M) "Fiscal year" has the same meaning as in section 9.34 of
the Revised Code.
(N) "Fractionalized interests in public obligations" means
participations, certificates of participation, shares, or other
instruments or agreements, separate from the public obligations
themselves, evidencing ownership of interests in public
obligations or of rights to receive payments of, or on account of,
principal or interest or their equivalents payable by or on behalf
of an obligor pursuant to public obligations.
(O) "Fully registered securities" means securities in
certificated or uncertificated form, registered as to both
principal and interest in the name of the owner.
(P) "Fund" means to provide for the payment of debt charges
and expenses related to that payment at or prior to retirement by
purchase, call for redemption, payment at maturity, or otherwise.
(Q) "General obligation" means securities to the payment of
debt charges on which the full faith and credit and the general
property taxing power, including taxes within the tax limitation
if available to the subdivision, of the subdivision are pledged.
(R) "Interest" or "interest equivalent" means those payments
or portions of payments, however denominated, that constitute or
represent consideration for forbearing the collection of money, or
for deferring the receipt of payment of money to a future time.
(S) "Internal Revenue Code" means the "Internal Revenue Code
of 1986," 100 Stat. 2085, 26 U.S.C.A. 1 et seq., as amended, and
includes any laws of the United States providing for application
of that code.
(T) "Issuer" means any public issuer and any nonprofit
corporation authorized to issue securities for or on behalf of any
public issuer.
(U) "Legislation" means an ordinance or resolution passed by
a majority affirmative vote of the then members of the taxing
authority unless a different vote is required by charter
provisions governing the passage of the particular legislation by
the taxing authority.
(V) "Mandatory sinking fund redemption requirements" means
amounts required by proceedings to be deposited in a bond
retirement fund for the purpose of paying in any year or fiscal
year by mandatory redemption prior to stated maturity the
principal of securities that is due and payable, except for
mandatory prior redemption requirements as provided in those
proceedings, in a subsequent year or fiscal year.
(W) "Mandatory sinking fund requirements" means amounts
required by proceedings to be deposited in a year or fiscal year
in a bond retirement fund for the purpose of paying the principal
of securities that is due and payable in a subsequent year or
fiscal year.
(X) "Net indebtedness" has the same meaning as in division
(A) of section 133.04 of the Revised Code.
(Y) "Obligor," in the case of securities or fractionalized
interests in public obligations issued by another person the debt
charges or their equivalents on which are payable from payments
made by a public issuer, means that public issuer.
(Z) "One purpose" relating to permanent improvements means
any one permanent improvement or group or category of permanent
improvements for the same utility, enterprise, system, or project,
development or redevelopment project, or for or devoted to the
same general purpose, function, or use or for which
self-supporting securities, based on the same or different sources
of revenues, may be issued or for which special assessments may be
levied by a single ordinance or resolution. "One purpose"
includes, but is not limited to, in any case any off-street
parking facilities relating to another permanent improvement, and:
(1) Any number of roads, highways, streets, bridges,
sidewalks, and viaducts;
(2) Any number of off-street parking facilities;
(3) In the case of a county, any number of permanent
improvements for courthouse, jail, county offices, and other
county buildings, and related facilities;
(4) In the case of a school district, any number of
facilities and buildings for school district purposes, and related
facilities.
(AA) "Outstanding," referring to securities, means securities
that have been issued, delivered, and paid for, except any of the
following:
(1) Securities canceled upon surrender, exchange, or
transfer, or upon payment or redemption;
(2) Securities in replacement of which or in exchange for
which other securities have been issued;
(3) Securities for the payment, or redemption or purchase for
cancellation prior to maturity, of which sufficient moneys or
investments, in accordance with the applicable legislation or
other proceedings or any applicable law, by mandatory sinking fund
redemption requirements, mandatory sinking fund requirements, or
otherwise, have been deposited, and credited for the purpose in a
bond retirement fund or with a trustee or paying or escrow agent,
whether at or prior to their maturity or redemption, and, in the
case of securities to be redeemed prior to their stated maturity,
notice of redemption has been given or satisfactory arrangements
have been made for giving notice of that redemption, or waiver of
that notice by or on behalf of the affected security holders has
been filed with the subdivision or its agent for the purpose.
(BB) "Paying agent" means the one or more banks, trust
companies, or other financial institutions or qualified persons,
including an appropriate office or officer of the subdivision,
designated as a paying agent or place of payment of debt charges
on the particular securities.
(CC) "Permanent improvement" or "improvement" means any
property, asset, or improvement certified by the fiscal officer,
which certification is conclusive, as having an estimated life or
period of usefulness of five years or more, and includes, but is
not limited to, real estate, buildings, and personal property and
interests in real estate, buildings, and personal property,
equipment, furnishings, and site improvements, and reconstruction,
rehabilitation, renovation, installation, improvement,
enlargement, and extension of property, assets, or improvements so
certified as having an estimated life or period of usefulness of
five years or more. The acquisition of all the stock ownership of
a corporation is the acquisition of a permanent improvement to the
extent that the value of that stock is represented by permanent
improvements. A permanent improvement for parking, highway, road,
and street purposes includes resurfacing, but does not include
ordinary repair.
(DD) "Person" has the same meaning as in section 1.59 of the
Revised Code and also includes any federal, state, interstate,
regional, or local governmental agency, any subdivision, and any
combination of those persons.
(EE) "Proceedings" means the legislation, certifications,
notices, orders, sale proceedings, trust agreement or indenture,
mortgage, lease, lease-purchase agreement, assignment, credit
enhancement facility agreements, and other agreements,
instruments, and documents, as amended and supplemented, and any
election proceedings, authorizing, or providing for the terms and
conditions applicable to, or providing for the security or sale or
award of, public obligations, and includes the provisions set
forth or incorporated in those public obligations and proceedings.
(FF) "Public issuer" means any of the following that is
authorized by law to issue securities or enter into public
obligations:
(1) The state, including an agency, commission, officer,
institution, board, authority, or other instrumentality of the
state;
(2) A taxing authority, subdivision, district, or other local
public or governmental entity, and any combination or consortium,
or public division, district, commission, authority, department,
board, officer, or institution, thereof;
(3) Any other body corporate and politic, or other public
entity.
(GG) "Public obligations" means both of the following:
(2) Obligations of a public issuer to make payments under
installment sale, lease, lease purchase, or similar agreements,
which obligations may bear interest or interest equivalent.
(HH) "Refund" means to fund and retire outstanding
securities, including advance refunding with or without payment or
redemption prior to maturity.
(II) "Register" means the books kept and maintained by the
registrar for registration, exchange, and transfer of registered
securities.
(JJ) "Registrar" means the person responsible for keeping the
register for the particular registered securities, designated by
or pursuant to the proceedings.
(KK) "Securities" means bonds, notes, certificates of
indebtedness, commercial paper, and other instruments in writing,
including, unless the context does not admit, anticipatory
securities, issued by an issuer to evidence its obligation to
repay money borrowed, or to pay interest, by, or to pay at any
future time other money obligations of, the issuer of the
securities, but not including public obligations described in
division (GG)(2) of this section.
(LL) "Self-supporting securities" means securities or
portions of securities issued for the purpose of paying costs of
permanent improvements to the extent that receipts of the
subdivision, other than the proceeds of taxes levied by that
subdivision, derived from or with respect to the improvements or
the operation of the improvements being financed, or the
enterprise, system, project, or category of improvements of which
the improvements being financed are part, are estimated by the
fiscal officer to be sufficient to pay the current expenses of
that operation or of those improvements or enterprise, system,
project, or categories of improvements and the debt charges
payable from those receipts on securities issued for the purpose.
Until such time as the improvements or increases in rates and
charges have been in operation or effect for a period of at least
six months, the receipts therefrom, for purposes of this
definition, shall be those estimated by the fiscal officer, except
that those receipts may include, without limitation, payments made
and to be made to the subdivision under leases or agreements in
effect at the time the estimate is made. In the case of an
operation, improvements, or enterprise, system, project, or
category of improvements without at least a six-month history of
receipts, the estimate of receipts by the fiscal officer, other
than those to be derived under leases and agreements then in
effect, shall be confirmed by the taxing authority.
(MM) "Subdivision" means any of the following:
(1) A county, including a county that has adopted a charter
under Article X, Ohio Constitution;
(2) A municipal corporation, including a municipal
corporation that has adopted a charter under Article XVIII, Ohio
Constitution;
(4) A regional water and sewer district organized under
Chapter 6119. of the Revised Code;
(5) A joint township hospital district organized under
section 513.07 of the Revised Code;
(6) A joint ambulance district organized under section 505.71
of the Revised Code;
(7) A joint recreation district organized under division (C)
of section 755.14 of the Revised Code;
(8) A detention facility district organized under section
2152.41, a district organized under section 2151.65, or a combined
district organized under sections 2152.41 and 2151.65 of the
Revised Code;
(9) A township police district organized under section 505.48
of the Revised Code;
(11) A joint fire district organized under section 505.371 of
the Revised Code;
(12) A county library district created under section 3375.19
or a regional library district created under section 3375.28 of
the Revised Code;
(13) A joint solid waste management district organized under
section 343.01 or 343.012 of the Revised Code;
(14) A joint emergency medical services district organized
under section 307.052 of the Revised Code;
(15) A fire and ambulance district organized under section
505.375 of the Revised Code;
(16) A fire district organized under division (C) of section
505.37 of the Revised Code;
(17) A joint police district organized under section 505.482
of the Revised Code;
(18) A lake facilities authority created under Chapter 353.
of the Revised Code;
(19) A regional transportation improvement project created
under Chapter 5595. of the Revised Code;
(20) Any other political subdivision or taxing district or
other local public body or agency authorized by this chapter or
other laws to issue Chapter 133. securities.
(NN) "Taxing authority" means in the case of the following
subdivisions:
(1) A county, a county library district, or a regional
library district, the board or boards of county commissioners, or
other legislative authority of a county that has adopted a charter
under Article X, Ohio Constitution, but with respect to such a
library district acting solely as agent for the board of trustees
of that district;
(2) A municipal corporation, the legislative authority;
(3) A school district, the board of education;
(4) A regional water and sewer district, a joint ambulance
district, a joint recreation district, a fire and ambulance
district, or a joint fire district, the board of trustees of the
district;
(5) A joint township hospital district, the joint township
hospital board;
(6) A detention facility district or a district organized
under section 2151.65 of the Revised Code, a combined district
organized under sections 2152.41 and 2151.65 of the Revised Code,
or a joint emergency medical services district, the joint board of
county commissioners;
(7) A township, a fire district organized under division (C)
of section 505.37 of the Revised Code, or a township police
district, the board of township trustees;
(8) A joint solid waste management district organized under
section 343.01 or 343.012 of the Revised Code, the board of
directors of the district;
(9) A subdivision described in division (MM)(19) of this
section, the legislative or governing body or official;
(10) A joint police district, the joint police district
board;
(11) A lake facilities authority, the board of directors;
(12) A regional transportation improvement project, the
governing board.
(OO) "Tax limitation" means the "ten-mill limitation" as
defined in section 5705.02 of the Revised Code without diminution
by reason of section 5705.313 of the Revised Code or otherwise,
or, in the case of a municipal corporation or county with a
different charter limitation on property taxes levied to pay debt
charges on unvoted securities, that charter limitation. Those
limitations shall be respectively referred to as the "ten-mill
limitation" and the "charter tax limitation."
(PP) "Tax valuation" means the aggregate of the valuations of
property subject to ad valorem property taxation by the
subdivision on the real property, personal property, and public
utility property tax lists and duplicates most recently certified
for collection, and shall be calculated without deductions of the
valuations of otherwise taxable property exempt in whole or in
part from taxation by reason of exemptions of certain amounts of
taxable value under division (C) of section 5709.01, tax
reductions under section 323.152 of the Revised Code, or similar
laws now or in the future in effect.
For purposes of section 133.06 of the Revised Code, "tax
valuation" shall not include the valuation of tangible personal
property used in business, telephone or telegraph property,
interexchange telecommunications company property, or personal
property owned or leased by a railroad company and used in
railroad operations listed under or described in section 5711.22,
division (B) or (F) of section 5727.111, or section 5727.12 of the
Revised Code.
(QQ) "Year" means the calendar year.
(RR) "Administrative agent," "agent," "commercial paper,"
"floating rate interest structure," "indexing agent," "interest
rate hedge," "interest rate period," "put arrangement," and
"remarketing agent" have the same meanings as in section 9.98 of
the Revised Code.
(SS) "Sales tax supported" means obligations to the payment
of debt charges on which an additional sales tax or additional
sales taxes have been pledged by the taxing authority of a county
pursuant to section 133.081 of the Revised Code.
Sec. 4504.08. A resolution, ordinance, or other measure
levying a county motor vehicle license tax, municipal motor
vehicle license tax, township motor vehicle license tax, or
transportation improvement district motor vehicle license tax, or
regional transportation improvement project motor vehicle license
tax shall not be applicable to motor vehicle registrations for a
registration year beginning at the time established in section
4503.10 of the Revised Code unless a copy of such resolution or
ordinance is certified to the registrar of motor vehicles not
later than the first day of July of the year preceding that in
which such registration year begins.
Sec. 4504.09. Any county, township, municipal, or
transportation improvement district, or regional transportation
improvement project motor vehicle license tax shall be paid to the
registrar of motor vehicles or to a deputy registrar at the time
application for registration of a motor vehicle as provided in
sections 4503.10 and 4503.102 of the Revised Code is made and no
certificate of registration, numbered license plates and
validation stickers, or validation stickers alone, shall be issued
to the owner of a motor vehicle for which any amount of county,
township, municipal, or transportation improvement district, or
regional transportation improvement project motor vehicle license
tax due thereon has not been paid. Payment of the tax shall be
evidenced by a stamp on the certificate of registration by the
official issuing such certificate.
Upon the transfer of ownership of a motor vehicle, the
registrar or deputy registrar shall collect any additional county,
township, municipal, or transportation improvement district, or
regional transportation improvement project motor vehicle license
tax due thereon, computed in the manner provided in section
4503.12 of the Revised Code.
Sec. 4504.22. (A) Subject to division (B) of this section
and for the purposes of paying the costs and expenses of enforcing
and administering the tax provided for in this section; paying the
costs of transportation improvements as defined in section 5595.01
of the Revised Code; paying debt service charges on obligations
issued for those purposes; and to supplement revenue already
available for those purposes, the board of county commissioners of
a county that is participating in a regional transportation
improvement project in accordance with Chapter 5595. of the
Revised Code may levy an annual license tax upon the operation of
motor vehicles on the public roads and highways in the county.
The board of county commissioners shall levy the tax at a
rate from one dollar to fifteen dollars per motor vehicle in whole
dollar increments as determined by the governing board of the
regional transportation improvement project. However, for each
commercial car and each commercial trailer and semitrailer that is
subject to the tax in that county the board of county
commissioners shall levy the tax at a rate of either one dollar or
any whole multiple of ten dollars not exceeding one hundred
dollars as determined by the governing board of the regional
transportation improvement project. The owner of each such motor
vehicle who resides in the county or a portion of the county
subject to the tax shall pay the tax levied by the board of county
commissioners. The tax is in addition to all other taxes levied
under this chapter, subject to reduction in the manner provided in
division (B)(2) of section 4503.11 of the Revised Code.
(B) Upon written request of the governing board of a regional
transportation improvement project, the board of county
commissioners of a county in which any part of that project is
located may propose that a motor vehicle license tax be levied
under this section. The board of county commissioners, via a
resolution, shall put the question of the tax to the electors of
the county or of that portion of the county in which the tax would
be levied. The board of county commissioners shall specify in the
resolution the rate of the tax, the date on which the tax will
terminate, and, if the request of the governing board of the
regional transportation improvement project indicates that a
portion of the revenue will be used for supplemental
transportation improvements not described in the cooperative
agreement, the portion of the tax revenue that will be used for
such supplemental improvements. The board of elections shall
submit the question of the tax to the electors at the primary or
general election to be held not less than ninety days after the
board of county commissioners certifies to the county board of
elections its resolution proposing the tax. The secretary of state
shall prescribe the form of the ballot for the election. If
approved by a majority of the electors voting on the question of
the tax in that county or portion of that county, as applicable,
the board of county commissioners of that county shall levy the
tax as provided in the resolution. However, the board may make
implementation of the tax contingent upon the approval of tax
measures under this section in one or more of the other counties
participating in the regional transportation improvement project.
(C) A regional transportation improvement project license tax
levied under this section shall continue in effect until its
expiration, repeal, or until the dissolution of the regional
transportation improvement project for which the tax is levied.
(D) The registrar of motor vehicles shall deposit money from
a tax levied under this section that is received by the registrar
under section 4504.09 of the Revised Code in the local motor
vehicle license tax fund created by section 4501.031 of the
Revised Code. The registrar shall distribute the money to the
board of county commissioners levying such tax. The registrar may
assign to that board of county commissioners a unique code to
facilitate the distribution of such money, which may be the same
unique code assigned to that county under section 4501.03 of the
Revised Code. The board of county commissioners then shall pay the
money to the governing board of the regional transportation
improvement project that requested that the question of the
levying of the tax be placed on the ballot.
Sec. 5595.01. As used in this chapter:
(A) "Regional transportation improvement project" or
"project" means a regional transportation improvement project
undertaken pursuant to section 5595.02 of the Revised Code.
(B) "Transportation improvement" or "improvement" means the
construction, repair, maintenance, or expansion of streets,
highways, parking facilities, rail tracks and necessarily related
rail facilities, bridges, tunnels, overpasses, underpasses,
interchanges, approaches, culverts, and other means of
transportation, and the erection and maintenance of traffic signs,
markers, lights, and signals.
Sec. 5595.02. (A) The boards of county commissioners of two
or more counties may undertake a regional transportation
improvement project for the purpose of completing transportation
improvements within the territory of the counties. The project
shall be administered by a governing board in accordance with a
cooperative agreement.
(B) The cooperative agreement shall provide for the creation
of a governing board consisting of one county commissioner from
each county that is a party to the agreement or a designee
appointed by the board of county commissioners of the county for
the purpose of serving on the governing board, and the county
engineer of each such county or a designee appointed by the county
engineer for the purpose of serving on the governing board.
Membership on the board is not a direct or indirect interest in a
contract or expenditure of money by the county. The board is a
public body for the purposes of section 121.22 of the Revised Code
and a public office for the purposes of section 149.43 of the
Revised Code. Chapter 2744. of the Revised Code applies to the
board.
(C) The governing board of a regional transportation
improvement project is a body both corporate and politic, and the
exercise by it of the powers conferred by this chapter in the
financing, construction, maintenance, repair, and operation of
transportation improvements are essential governmental functions.
(D) A board of county commissioners, in accordance with the
cooperative agreement, may make appropriations to pay costs
incurred by the governing board in the exercise of its functions
under this chapter so long as such costs are approved by the
director of transportation under section 5595.13 of the Revised
Code.
Sec. 5595.03. (A) A resolution of a board of county
commissioners undertaking a regional transportation improvement
project must include a cooperative agreement containing all of the
following:
(1) A description or analysis of the deficiencies of the
existing transportation system in the counties participating in
the project and of projected needs or deficiencies of the system
in ensuing years under reasonable assumptions about development,
population trends, and other factors affecting transportation
infrastructure in the counties;
(2) A comprehensive list of the transportation improvements
to be completed as part of the project, including a general
description of each improvement, schedules of the projected
beginning and end of each improvement, and the estimated cost of
each improvement;
(3) Directives regarding the operations and reporting
requirements of the governing board;
(4) The number of years the agreement is to be in effect;
(5) Any other terms the board of county commissioners
considers necessary or conducive to communicate the intentions of
the cooperative agreement and to ensure its effective
implementation by the governing board.
(B) A board of county commissioners that intends to undertake
a regional transportation improvement project shall hold at least
one public hearing on the proposed cooperative agreement before
adopting a resolution approving the agreement. The board of county
commissioners shall provide at least thirty days' public notice of
the time and place of the public hearing in a newspaper of general
circulation in the county. During the thirty-day period before the
public hearing, the proposed cooperative agreement shall be made
available for public inspection at the offices of each county that
will be a party to the agreement.
(C) If the cooperative agreement is approved by each county
that will be a party to the agreement, one of the participating
counties shall send a copy of the agreement to the director of
transportation. The director shall evaluate the agreement and
determine if the transportation improvements specified in the
agreement are in the best interest of the transportation
facilities of this state, as defined in section 5501.01 of the
Revised Code. If the director approves the agreement, the director
shall send notice of approval to each county that is a party to
the agreement. Unless otherwise provided in the cooperative
agreement, the agreement is effective immediately upon approval by
the director. If the director does not approve the agreement, the
director shall send notice of denial to each county that is a
party to the agreement. The notice of denial shall include the
reason or reasons for the denial and recommendations for ways in
which the agreement may be changed to meet the approval of the
director. If the director does not make a determination within
ninety days after receiving a cooperative agreement under this
section, the director is deemed to have approved the agreement
and, unless otherwise provided in the agreement, the agreement is
effective immediately. No cooperative agreement is effective
without actual or constructive approval by the director under this
section.
(D) The cooperative agreement governing a regional
transportation improvement project may be amended at any time by
majority vote of the governing board and of the boards of county
commissioners of each of the participating counties and with the
approval of the director of transportation obtained in the same
manner as approval of the original agreement.
Sec. 5595.04. The governing board of a regional
transportation improvement project may do any of the following:
(A) Make and enter into all contracts and agreements
necessary or incidental to the performance of its functions and
the execution of its powers under this chapter and in accordance
with the cooperative agreement. The procuring of goods and
awarding of contracts with a cost in excess of fifty thousand
dollars shall be done in accordance with the competitive bidding
procedures established for boards of county commissioners by
sections 307.86 to 307.91 of the Revised Code.
(B) Sue and be sued in its own name, plead and be impleaded,
provided any actions against the governing board or the regional
transportation improvement project shall be brought in the court
of common pleas of a county that is a party to the cooperative
agreement or in the court of common pleas of the county in which
the cause of action arose, and all summonses, exceptions, and
notices shall be served on the governing board by leaving a copy
thereof at its principal office with a member of the governing
board or an employee or agent thereof;
(C) Employ or retain persons as are necessary in the judgment
of the governing board to carry out the project, and fix their
compensation;
(D) Acquire by purchase, lease, lease-purchase, lease with
option to purchase, appropriation, or otherwise any property
necessary, convenient, or proper for the construction,
maintenance, repair, or operation of one or more transportation
improvements. The governing board may pledge net revenues, to the
extent permitted by this chapter with respect to bonds, to secure
payments to be paid by the governing board under such a lease,
lease-purchase agreement, or lease with option to purchase. Title
to real and personal property shall be held in the name of the
governing board. In any proceedings for appropriation under this
section, the procedure to be followed shall be in accordance with
that provided in sections 163.01 to 163.22 of the Revised Code.
Except as otherwise agreed to by the owner of the property, full
compensation shall be paid for public property so taken.
(E) Issue securities to pay for the costs of transportation
improvements pursuant to section 5595.05 of the Revised Code.
Sec. 5595.05. The governing board of a regional
transportation improvement project may provide for the issuance of
securities for the purpose of paying costs of transportation
improvements. The securities are Chapter 133. securities, and the
issuance of the securities, the maturities and other details
thereof, the rights of the holders thereof, and the rights,
duties, and obligations of the governing board in respect to the
securities is governed by the applicable bond proceedings, section
133.22 or 133.23, and other applicable sections of Chapter 133. of
the Revised Code, notwithstanding that the transportation
improvements may result in permanent improvements for more than
one purpose under that chapter.
Such securities do not constitute a debt or a pledge of the
faith and credit of the state or of any political subdivision of
the state. Debt charges on outstanding securities are payable
solely from revenues pledged to the regional transportation
improvement project pursuant to section 5595.06 of the Revised
Code. All securities shall contain on their face a statement to
that effect. Sections 9.98 to 9.983 of the Revised Code apply to
the securities.
Sec. 5595.06. (A) The governing board of a regional
transportation improvement project, pursuant to the cooperative
agreement, may request and receive pledges of revenue from the
state, the counties that are parties to the agreement, and any
political subdivision or taxing unit located within any of those
counties. Except as provided in division (B) of this section, the
pledged revenues shall be used solely for the purpose of funding
the transportation improvements prescribed by the cooperative
agreement, the debt charges on any securities issued by the
governing board under section 5595.05 of the Revised Code, and the
expenses of the governing board. The state, the counties, and any
political subdivision or taxing unit located within such a county
may pledge revenue to the governing board from any of the
following sources:
(1) The general revenue fund of the state;
(2) License tax revenue derived from an annual motor vehicle
license tax imposed pursuant to section 4504.22 of the Revised
Code;
(3) Payments in lieu of taxes derived under section 5709.42,
5709.74, or 5709.79 of the Revised Code if the real property for
which such payments are made will benefit from the proposed
transportation improvements;
(4) Income tax revenue derived from a joint economic
development district or joint economic development zone
established pursuant to section 715.69, 715.691, 715.70, or 715.71
or sections 715.72 to 715.81 of the Revised Code if the district
or zone will benefit from the proposed transportation
improvements;
(5) Revenue derived from special assessments levied in a
special improvement district created under Chapter 1710. of the
Revised Code if the district will benefit from the proposed
transportation improvements;
(6) Revenue from an income source of a new community district
established pursuant to section 349.03 of the Revised Code if the
district will benefit from the proposed transportation
improvements.
(B) The governing board shall use license tax revenue pledged
to the project under division (A)(2) of this section for the
purpose of funding transportation improvements described in the
cooperative agreement and any other supplemental transportation
improvements necessary to complete the project. If the board
intends to use any of the license tax revenue for supplemental
improvements not described in the agreement, the board, before
submitting a request for license tax revenue to a board of county
commissioners under section 4504.22 of the Revised Code, shall
adopt a resolution allocating the revenue among the improvements
described in the agreement and such supplemental improvements not
described in the agreement. The amount used for supplemental
improvements may not exceed five dollars for each motor vehicle on
which the motor vehicle license tax is collected. If the motor
vehicle license tax is approved, the governing board shall
allocate the revenue only in accordance with the resolution. The
allocation may not be changed unless a proposition to change the
allocation is approved by the majority of electors voting on the
proposition in each county that is a party to the cooperative
agreement. Such a proposition may be proposed by resolution of the
governing board certified to the board of county commissioners of
each county, and, upon receiving such a certified resolution, each
board of county commissioners shall certify identical resolutions
to the respective county board of elections for placement on the
questions and issues ballot at the next succeeding election
occurring at least ninety days after the resolution is certified
to the board of elections.
Sec. 5595.07. The governing board of a regional
transportation improvement project may submit a written request to
the director of transportation for the assistance of the
department of transportation in any or all aspects, components, or
phases of that project. Upon receipt of such a request, the
director may require the board to submit documentation to
substantiate that the board has sufficient resources to fund the
board's share of the project. If the director determines that the
board has sufficient resources, the director may make available to
the board resources of the department as may be necessary to
fulfill the request. The director, in the director's discretion,
may elect to assign any or all of any post-construction management
responsibilities for the project back to the governing board.
The governing board shall pay all expenses the department
incurs in fulfilling the request of the governing board for
assistance, which expenses may be paid from the proceeds of bonds
issued by the governing board under this section.
Sec. 5595.08. All money, funds, properties, and assets
acquired by the governing board of a regional transportation
improvement project under this chapter, whether as proceeds from
the sale of securities, as revenues, or otherwise, shall be held
by it in trust for the purpose of carrying out its powers and
duties, shall be used and reused as provided in this chapter, and
shall at no time be part of other public funds. Such funds, except
as otherwise provided in bond proceedings or in any trust
agreement securing such securities, or except when invested
pursuant to section 5595.09 of the Revised Code, shall be kept in
depositories selected by the governing board in the manner
provided in Chapter 135. of the Revised Code for the selection of
eligible public depositories, and the deposits shall be secured as
provided in that chapter. Bond proceedings or the trust agreement
securing securities shall provide that any officer to whom, or any
bank or trust company to which, such money is paid shall act as
trustee of the money and hold and apply the money for the purposes
for which the securities are issued, subject to such conditions as
Chapter 133. or 135. of the Revised Code and such proceedings or
trust agreement provide.
Sec. 5595.09. Except as otherwise provided in any bond
proceedings or in any trust agreement securing securities, money
in the funds of the governing board of a regional transportation
improvement project in excess of current needs may be invested as
permitted by sections 135.01 to 135.21 of the Revised Code. Income
from all investments of moneys in any fund shall be credited to
funds as the governing board determines, subject to the provisions
of any such proceedings or trust agreement, and the investments
may be sold at any time the governing board determines.
Sec. 5595.10. The county auditor of the county with the
greatest population, according to the most recent federal
decennial census, that is a party to the cooperative agreement
shall be the fiscal officer for the governing board of the
project. The county prosecutor of the county with the greatest
population, according to the most recent federal decennial census,
that is participating in the project shall be the legal advisor of
the governing board of the project and shall prosecute and defend
all suits and actions that the governing board directs or to which
it is a party.
Sec. 5595.11. The exercise of the powers granted by this
chapter is in all respects for the benefit of the people of the
state, for the increase of their commerce and prosperity, and for
the improvement of their health and living conditions, and, as the
completion of transportation improvements by a regional
transportation improvement project constitute the performance of
essential governmental functions, neither the project nor the
governing board may be required to pay any state or local taxes or
assessments upon any improvement, or upon revenue or any property
acquired or used by the governing board of the project under this
chapter, or upon the income therefrom. The securities issued under
this chapter, their transfer, and the income therefrom, including
any profit made on the sale thereof, shall at all times be free
from taxation within the state.
Sec. 5595.12. Notwithstanding any other section of the
Revised Code to the contrary, the approval, consent, or
cooperation of a political subdivision is not required for a
transportation improvement that involves constructing or improving
a street or highway that runs through the territory of the
political subdivision, connects to a highway that is part of the
interstate system, and has been journalized by the director of
transportation prior to the effective date of the enactment of
this section.
Sec. 5595.13. The governing board of a regional
transportation improvement project shall not use any amount
pledged or allocated to the board under this chapter for
administrative expenses of the board without prior approval of the
director of transportation. The director may approve expenses
individually by line item or may approve an aggregate amount to be
allocated for administrative expenses over a period of time not
exceeding twelve months. The director may prescribe rules pursuant
to Chapter 119. of the Revised Code necessary to implement this
section.
Sec. 5595.14. Upon completion of the transportation
improvements listed in the cooperative agreement, fulfillment of
all contractual duties assumed by the governing board, and
repayment of all bonds issued by the governing board, the regional
transportation improvement project and the governing board shall
dissolve by operation of law. Upon dissolution of the regional
transportation improvement project, the boards of county
commissioners that created the regional transportation improvement
project shall assume title to all real and personal property
acquired by the board in the fulfillment of its duties under this
chapter. The property shall be divided and distributed in
accordance with the cooperative agreement. Unless otherwise
provided by contract, pledges of revenue to the governing board
from the state or a political subdivision or taxing unit shall
terminate by operation of law upon the dissolution of the regional
transportation improvement project.
Section 2. That existing sections 133.01, 4504.08, and
4504.09 of the Revised Code are hereby repealed.
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