Regards the Treasurer of State

As Introduced

136th
General Assembly

Regular
Session
H. B. No. 278

2025-2026

Representatives Mathews, T., Hall, T.

Cosponsors: Representatives Deeter,
Claggett, Fischer, Thomas, D., Daniels, Johnson, Click, Miller, M.,
Odioso

To
amend sections 113.05, 113.051, 113.09, 113.13, 113.16, 113.40,
113.78, 118.05, 120.52, 131.01, 131.50, 135.01, 135.03, 135.032,
135.14, 135.143, 135.18, 135.22, 135.35
,
135.45
,
135.451, 135.71, 151.01, 164.09, 183.51, 317.36, 319.63, 321.46,
321.47, 1557.03, 2969.13, 3109.14, 3307.12, 3334.08, 3334.11,
3705.242, 3737.945, 3953.231, 4511.19, 4705.09, 4705.10, 5528.54,
5725.22, 5725.23, 5729.05, 5729.10, 5739.17, 5747.51, and 6101.51; to
amend, for the purpose of adopting a new section number as indicated
in parentheses, section 135.45 (113.07); and to repeal sections
113.06, 113.10, 113.43, and 135.144 of the Revised Code
relating
to the Treasurer of State.

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

Section
1.
That
sections 113.05, 113.051, 113.09, 113.13, 113.16, 113.40, 113.78,
118.05, 120.52, 131.01, 131.50, 135.01, 135.03, 135.032, 135.14,
135.143, 135.18, 135.22, 135.35
,
135.45
,
135.451, 135.71, 151.01, 164.09, 183.51, 317.36, 319.63, 321.46,
321.47, 1557.03, 2969.13, 3109.14, 3307.12, 3334.08, 3334.11,
3705.242, 3737.945, 3953.231, 4511.19, 4705.09, 4705.10, 5528.54,
5725.22, 5725.23, 5729.05, 5729.10, 5739.17, 5747.51, and 6101.51 be
amended and section 135.45 (113.07) of the Revised Code be amended
for the purpose of adopting a new section number as indicated in
parentheses to read as follows:

Sec.
113.05.
(A)
As used in sections 113.05 to 113.40 of the Revised Code:

(1)
"Account," "appropriation," "disbursement,"
"electronic funds transfer," "fund," and
"warrant" have the same meanings as in section 131.01 of
the Revised Code.

(2)

"Active
deposit" and "interim deposit" have the same meanings
as in section 135.01 of the Revised Code.

(3)

"Assets"
has the same meaning as in section 131.01 of the Revised Code
,
but does not include items held in safekeeping by the treasurer of
state including, but not limited to, collateral pledged to a state
agency.

(3)
"Custodial funds" do not include items held in safekeeping
by the treasurer of state including, but not limited to, collateral
pledged to a state agency
.

(B)
The state treasury consists of the moneys, claims, bonds, notes,
other obligations, stocks, and other securities, receipts or other
evidences of ownership, and other intangible assets of the state that
are required by law to be deposited in the state treasury or are
otherwise a part of the state treasury. All assets of the state
treasury shall be kept in the rooms assigned the treasurer of state,
with the vaults, safes, and other appliances therein; provided, that:

(1)
Securities
and
other assets
required
by law to be deposited or kept in the state treasury may be deposited
for safekeeping with the federal reserve bank of Cleveland, Ohio

or
,

secured
and insured depositories in or out of this state
,
or other qualified custodians

as designated by the treasurer of state.

(2)

Public
moneys may
Active
deposits shall
be
kept in
constituted
state
depositories

designated by the state board of deposit pursuant to section 135.12
of the Revised Code and secured for repayment pursuant to section
135.18 of the Revised Code
.

(3)
Interim deposits shall be invested in accordance with section 135.143
of the Revised Code and held in safekeeping pursuant to division
(B)(1) of this section.

(C)
(C)(1)

The custodial funds of the treasurer of state consist of the moneys,
claims, bonds, notes, other obligations, stocks, and other
securities, receipts or other evidences of ownership, and other
intangible assets that are required by law to be kept in the custody
of the treasurer of state but are not part of the state treasury. All
assets of the custodial funds of the treasurer of state shall be kept
in
either
or both
any

of
the following:

(1)
(a)

The rooms assigned the treasurer of state, with the vaults, safes,
and other appliances therein;

(2)
(b)

The federal reserve bank of Cleveland, Ohio

or
,

secured
and insured depositories in or out of this state
,
or other qualified custodians

as designated by the treasurer of state.

(c)
Active deposits shall be kept in depositories designated by the state
board of deposit pursuant to section 135.12 of the Revised Code and
secured for repayment pursuant to section 135.18 of the Revised Code.

(d)
Interim deposits may be invested in the Ohio subdivision's fund
established in the custody of the treasurer of state pursuant to
section 113.07 of the Revised Code.

(e)
When the Revised Code allows the administrator or owner of the
custodial fund to invest in securities or other assets, those
securities and other assets shall be held in safekeeping pursuant to
division (C)(1)(b) of this section.

(2)
Notwithstanding any contrary provision in division (B) or (C) of this
section, money held in a depository account of a partnership, trust,
limited liability company, corporation, or any other legal entity
authorized to transact business in this state that has been
established for the investment of funds pursuant to section 145.11,
742.11, 3307.15, 3309.15, 3334.11, 4123.44, or 5505.06 of the Revised
Code are not public money or active deposits for the purposes of
Chapters 113. and 135. of the Revised Code and shall not be
considered to be in the custody of the treasurer of state or subject
to the state board of deposit.

(D)
Assets of the state treasury shall not be commingled with assets of
the custodial funds of the treasurer of state.

The
repositing and deposit of payments pursuant to section 113.06 of the
Revised Code is in compliance with this section.

Sec.
113.051.
(A)

The
treasurer of state or the officer who performs the duties of the
office of treasurer of state is the custodian of the funds required
by law to be kept in the custody of the treasurer of state. The
In
connection with the custodial funds described in division (C) of
section 113.05 of the Revised Code or as otherwise required by law,
the
custodial
duties of the treasurer of state include safekeeping the
custodial
funds
active
deposits
and
investment assets of an owner

or administrator
;
collecting principal, dividends, distributions, and interest on

custodial
funds
active
deposits
and
investments of an owner

or administrator
;
and paying for, transferring, and collecting the purchase or sale
price of investments. The duties of the treasurer of state do not
include making investment decisions of an owner
,
administrator,

or its authorized agents or monitoring compliance with an owner's
or
administrator's
internal
investment policies. The treasurer of state is not responsible for
the investment decisions of an owner
,
administrator,

or agent, compliance with the owner's
or
administrator's
internal
investment policies, or any unlawful activities of an owner
,
administrator,

or its authorized agents.

(B)
The treasurer of state may enter into a sub-custody or other agency
agreement with a trustee who meets the requirements of section
135.18

1111.02

of
the Revised Code to execute the custodial duties
required
by law
under
division (A) of this section
.
The agreement shall apply to the
custodial
funds and
investment
assets of an owner

or administrator
.
The agreement may provide that the trustee has primary responsibility
for custody of the
funds
and
investments

and
any related depository accounts
in
order to execute an owner's
or
administrator's
instructions.
The treasurer of state or the treasurer's authorized agent may enter
into additional agreements as necessary to facilitate an owner's
or
administrator's
transactions.

Sec.

135.45

113.07
.

(A)
Subject to division (B) of this section, a treasurer, governing
board, or investing authority of a subdivision
or
state entity
may
pay public moneys of the subdivision
or
state entity
into
the Ohio subdivision's fund, which may be established in the custody
of the treasurer of state. The treasurer of state shall invest the
moneys in the fund in separately managed accounts and pooled
accounts, including the state treasurer's investment pool, in the
same manner, in the same types of instruments, and subject to the
same limitations provided for the deposit and investment of interim
moneys of the state, except that the fund shall not be invested in
the linked deposits authorized under section 135.61 of the Revised
Code.
A
treasurer, governing board, or investing authority of a subdivision
or state entity shall designate two or more authorized signers
associated with each account of the subdivision or state entity that
is managed by the treasurer of state in the treasurer of state's
investment pool. The authorized person shall deposit redemptions made
from a subdivision's or state entity's account only into the
subdivision's treasury or state entity's custodial account at the
public depository so designated by the subdivision's governing board
or the state board of deposit.

(B)(1)
On and after July 1, 1997, a treasurer, governing board, or investing
authority of a subdivision
or
state entity
that
has not entered into an agreement with the treasurer of state under
division (C) of this section shall not invest public moneys of the
subdivision
or
state entity
in
a pooled account of the Ohio subdivision's fund under division (B)(6)
of section 135.14 of the Revised Code or division (A)(6) of section
135.35 of the Revised Code if the pool does not maintain the highest
letter or numerical rating provided by at least one nationally
recognized statistical rating organization.

(2)
Upon receipt of notice that the pool does not maintain the highest
letter or numerical rating required under division (B)(1) of this
section, the treasurer of state shall have ninety days to obtain the
required highest letter or numerical rating. If the treasurer of
state fails to obtain the required highest letter or numerical
rating, the treasurer of state shall have an additional one hundred
eighty days to develop a plan to dissolve the pool. The plan shall
include reasonable standards for the equitable return of public
moneys in the pool to those subdivisions

and state entities

participating in the pool.

(3)
Treasurers, governing boards, or investing authorities of
subdivisions
and
state entities
participating
in the pool shall not be required to divest in the pool during the
initial one hundred eighty days following the treasurer of state's
receipt of notice under division (B)(2) of this section.

(C)
A treasurer, governing board, or investing authority of a subdivision

or
state entity
that
wishes to invest public moneys of the subdivision in a separately
managed account or pooled account of the Ohio subdivision's fund may
enter into an agreement with the treasurer of state that sets forth
the manner in which the money is to be invested. The treasurer of
state shall invest the moneys in accordance with the agreement,
subject to the limitations set forth in division (A) of this section.
For purposes of this division, the limitation on investments in debt
interests provided in division (A)(11)(a) of section 135.143 of the
Revised Code shall not apply to a subdivision's
or
state entity's
excess
reserves.

(D)
The treasurer of state shall adopt such rules as are necessary for
the implementation of this section, including the efficient
administration of and accounting for the separately managed accounts
and pooled accounts, including the state treasurer's investment pool,
and the specification of minimum amounts that may be paid into such
pools and minimum periods of time for which such payments shall be
retained in the pools. The rules shall provide for the administrative
expenses of the separately managed accounts and pooled accounts,
including the state treasurer's investment pool, to be paid from the
earnings and for the interest earnings in excess of such expenses to
be credited to the several treasurers, governing boards, and
investing authorities participating in a pool in a manner which
equitably reflects the differing amounts of their respective
investments in the pool and the differing periods of time for which
such amounts are in the pool.

(E)
The treasurer of state shall give bond with sufficient sureties,
payable to the treasurers, governing boards, and investing
authorities of subdivisions

and state entities

participating in the fund, for the benefit of the subdivisions whose
moneys are paid into the fund for investment, in the total penal sum
of two hundred fifty thousand dollars, conditioned for the faithful
discharge of the treasurer of state's duties in relation to the fund.

(F)
The treasurer of state and the treasurer of state's bonders or surety
are liable for the loss of any interim moneys of the state
,
state entities,

and subdivisions invested under this section to the same extent the
treasurer of state and the treasurer of state's bonders or surety are
liable for the loss of public moneys under section 135.19 of the
Revised Code.

(G)
As used in this section:

(1)
"Interim moneys" and "governing board" have the
same meanings as in section 135.01 of the Revised Code.

(2)(a)
"Subdivision" has the same meaning as in section 135.01 of
the Revised Code, but also includes a county, a municipal corporation
that has adopted a charter under Article XVIII, Ohio Constitution, or
any government entity for which the fund is a permissible investment.

(b)

"State
entity" means the general assembly, the supreme court, the court
of claims, the office of an elected state officer, or a department,
bureau, board, office, commission, agency, institution of higher
education, retirement system, or other institution or instrumentality
of this state established by the constitution or laws of this state.

(c)

"Public
moneys of a subdivision" has the same meaning as in section
135.01 of the Revised Code, but also includes "public moneys"
as defined in section 135.31 of the Revised Code, and funds held in
the custody of the treasurer of state notwithstanding any limitations
on the permissible investments of such funds.

(3)
"Treasurer" has the same meaning as in sections 135.01 and
135.31 of the Revised Code.

(4)
"Investing authority" has the same meaning as in section
135.31 of the Revised Code.

(5)
"Excess reserves" means the amount of a subdivision's
public moneys that exceed the average of a subdivision's annual
operating expenses in the immediately preceding three fiscal years.

Sec.
113.09.
Except
as provided in section 113.10 of the Revised Code, all
All

moneys
deposited with the treasurer of state, the disposition of which is
not otherwise provided for by law, shall be credited to the general
revenue fund, which is hereby created in the state treasury. If a
warrant for the payment of money from the state treasury has been
illegally or improperly issued, or the amount of a warrant exceeds
the sum that should have been named therein, and payment of such
warrant or excess has been made by the treasurer of state, the
director of budget and management shall, unless the account of the
appropriation from which it was paid has been closed, credit the
amount collected to such appropriation; but, if such account has been
closed, the director shall credit the amount so collected to the fund
on which the warrant was originally drawn.

All
investment earnings on moneys deposited in the state treasury shall
be credited to the general revenue fund unless:

(A)
The disposition of the earnings is otherwise provided for by law;

(B)
The director has provided in the plan approved under section 131.36
of the Revised Code that a different fund is entitled to the
earnings.

Sec.
113.13.
The
treasurer of state shall have available and, as requested, transmit
to the director of budget and management and to the governor
information concerning the amount in the
inactive
account, the amount in the
active
account
,

and the amount of cash on hand.

Sec.
113.16.
If
upon
At
the conclusion of
an
audit
there
is found in the state treasury and the custodial funds of the
treasurer of state the moneys, claims, bonds, notes, other
obligations, stocks, and other securities, receipts or other
evidences of ownership, and other intangible assets which should be
in the state treasury or in the custodial funds of the treasurer of
state
under
section 113.14 of the Revised Code
,
the auditors shall make
triplicate
written certificates of the fact over
a
report of their findings and the report shall contain
their
official signatures. One of the
certificates

reports

shall
be delivered to the treasurer of state
and
recorded in his office
,
one to the auditor of state
and
recorded in his

office
,
and one to the governor

and recorded in his

office
.

If
upon an audit
,

under
section 113.14 of the Revised Code,
a
deficiency is found in the moneys, claims, bonds, notes, other
obligations, stocks, and other securities, receipts or other
evidences of ownership, or other intangible assets which should be in
the state treasury or in the custodial funds of the treasurer of
state, or any irregularity or omission in the business of the office
or in keeping accounts, the auditors shall state particularly the
deficiency, irregularity, or omission.

Sec.
113.40.
(A)
As used in this section:

(1)
"Financial transaction device" includes a credit card,
debit card,
charge

banking

card,
prepaid or stored value card, or
automated
clearinghouse network credit, debit, or e-check entry that includes,
but is not limited to, accounts receivable and internet-initiated,
point of purchase, and telephone-initiated applications, or
any
other device or method for making an electronic payment or transfer
of funds

denominated in United States dollars
.

(2)

"Processor"
means an entity conducting the settlement of an electronic payment or
transfer of funds, which shall be denominated in United States
dollars.

(3)

"State
expenses" includes fees, costs, taxes, assessments, fines,
penalties, payments, or any other expense a person owes to a state
office under the authority of a state elected official or to a state
entity.

(3)
(4)

"State elected official" means the governor, lieutenant
governor, attorney general, secretary of state, treasurer of state,
and auditor of state.

(4)
(5)

"State entity" includes any state department, agency,
board,
or

commission
,
or office under the authority of a state elected official

that deposits funds into the state treasury

or into an account in the custody of the treasurer of state
.

(B)
Notwithstanding any other section of the Revised Code and subject to
division (D) of this section, the board of deposit
may

shall

adopt
a resolution authorizing the acceptance of payments by financial
transaction device to pay for state expenses.
The
resolution shall include all of the following:

(1)
A designation of those state elected officials and state entities
authorized to accept payments by financial transaction device;

(2)
A list of state expenses that may be paid by the use of a financial
transaction device;

(3)
Specific identification of financial transaction devices that a state
elected official or state entity may authorize as acceptable means of
payment for state expenses. Division (B)(3) of this section does not
require that the same financial transaction devices be accepted for
the payment of different types of state expenses.

(4)
The amount, if any, authorized as a surcharge or convenience fee
under division (E) of this section for persons using a financial
transaction device. Division (B)(4) of this section does not require
that the same surcharges or convenience fees be applied to the
payment of different types of state expenses.

(5)
A specific requirement, as provided in division (G) of this section,
for the payment of a penalty if a payment made by means of a
financial transaction device is returned or dishonored for any
reason.

The
board of deposit's resolution also shall designate the treasurer of
state as the administrative agent to solicit proposals

for financial transaction device services
,
within guidelines established by the board of deposit in the
resolution and in compliance with the procedures provided in division
(C) of this section
,
from financial institutions, issuers of financial transaction
devices, and processors of financial transaction devices; to make
recommendations about those proposals to the state elected officials
;
and to assist state
offices

entities
and state elected officials
in
implementing
the
state's
any

financial
transaction device acceptance

and
,

processing
,
and settlement

program

authorized pursuant to this section. The board of deposit's
resolution applies to financial transaction device services related
to any and all bank accounts comprising the state treasury as well as
those in the custody of the treasurer of state but not part of the
state treasury
.

(C)
The administrative agent shall follow the procedures provided in this
division whenever it plans to contract with
financial
institutions, issuers of financial transaction devices, or
one
or more
processors

of
financial transaction devices
for
the purposes of this section. The administrative agent shall request
proposals
from
at least three financial institutions, issuers of financial
transaction devices, or processors of financial transaction
devices
for
acceptance, processing, and settlement services
,
as appropriate in accordance with the resolution adopted under
division (B) of this section. Prior to
sending
any financial institution, issuer, or processor a copy of any such

making
the
request

for proposals available
,
the administrative agent shall advertise its intent to request
proposals for two consecutive weeks by electronic publication on
a
state agency
the
administrative agent's
web
site made available to the general public. The notice shall state
that the administrative agent intends to request proposals; specify
the purpose of the request;
and

indicate
the date, which shall be at least
ten

fifteen
calendar
days
after the
initial

publication,
on which the request for proposals will be

electronically mailed to financial institutions, issuers, or
processors; and require that any financial institution, issuer, or
processor, whichever is appropriate, interested in receiving the
request for proposals submit written notice of this interest to the
administrative agent not later than the day on which the request for
proposals will be electronically mailed

available
.

Upon
receiving the proposals, the administrative agent shall review them
and make a recommendation to the board of deposit regarding which

proposal
or
proposals
to accept. The board of deposit shall consider the agent's
recommendation and
review
all proposals submitted, and
then
may choose to
authorize
the administrative agent, on the board's behalf, to
contract
with
any
or all
one
or more
of
the
entities

processors

submitting
proposals, as appropriate. The
administrative
agent may enter into one or more contracts to provide acceptance,
processing, and settlement services to the state entities and state
elected officials. Through its administrative agent, the
board
of deposit shall provide any
financial
institution, issuer, or
processor
that submitted a proposal, but with which the board
of
deposit's administrative agent
does
not enter into a contract, notice that its proposal is rejected.

(D)

The
board of deposit shall send a copy of the resolution adopted under
division (B) of this section to each state elected official and state
entity authorized to accept payments for state expenses by financial
transaction device. After receiving the resolution and before
accepting such payments by financial transaction device, such a state
elected official or state entity shall provide written notification
to the administrative agent of the official's or entity's intent to
implement the resolution within the official's or entity's office.

Each state
office

elected
official
or

state

entity
subject to
the
board's resolution adopted under division (B) of
this
section shall use only the
financial
institutions, issuers of financial transaction devices, and

processors
of financial transaction devices with which the board of
deposit

deposit's
administrative agent
contracts,
and each such

office
state
elected official
or

state

entity
is subject to the terms of those contracts.

If
a state entity under the authority of a state elected official is
directly responsible for collecting one or more state expenses and
the state elected official determines not to accept payments by
financial transaction device for one or more of those expenses, the
office is not required to accept payments by financial transaction
device for those expenses, notwithstanding the adoption of a
resolution by the board of deposit under division (B) of this
section.

(E)
The
board
of deposit
state
elected official or state entity
may
establish a surcharge or convenience fee that may be imposed upon a
person making payment by a financial transaction device.
The
surcharge or convenience fee shall not be imposed unless authorized
or otherwise permitted by the rules prescribed under a contract,
between the financial institution, issuer, or processor and the
administrative agent, governing the use and acceptance of the
financial transaction device.

The
establishment of a
Any

surcharge
or convenience fee shall follow the guidelines of the
financial
institution, issuer of financial transaction devices, or
processor

or processors

of financial transaction devices with which the board of
deposit

deposit's
administrative agent
contracts.

If
a surcharge or convenience fee is imposed, every state
elected
official and state
entity
accepting payment by a financial transaction device
,
regardless of whether that entity is subject to a resolution adopted
by the board of deposit, shall clearly post a notice in the entity's
office, and

shall notify each person making a payment by such a device
,

about the surcharge or fee. Notice to each person making a payment
shall be provided regardless of the medium used to make the payment
and in a manner appropriate to that medium. Each notice shall include

all

both

of
the following:

(1)
A statement that there is a surcharge or convenience fee for using a
financial transaction device;

(2)
The total amount of the charge or fee expressed in dollars and cents
for each transaction, or the rate of the charge or fee expressed as a
percentage of the total amount of the transaction, whichever is
applicable
;

(3)
A clear statement that the surcharge or convenience fee is
nonrefundable
.

(F)
If a person
elects
to make a payment by a financial transaction device and a surcharge
or convenience fee is imposed, the payment of the surcharge or
convenience fee is not refundable.

(G)
If a person
makes
payment by a financial transaction device and the payment is
returned
or dishonored
reversed

for
any reason, the person is liable to the state

elected official or state entity

for the state expense and any reimbursable costs for collection,
including banking charges, legal fees, or other expenses incurred by
the state

elected official or state entity

in collecting the
returned
or dishonored
reversed

payment.
The remedies and procedures provided in this section are in addition
to any other available civil or criminal remedies provided by law.

(H)
(G)

No person making any payment by a financial transaction device to a
state
office

elected
official or state entity
shall
be relieved from liability for the underlying obligation, except to
the extent that the state
elected
official or state entity
realizes
final payment of the underlying obligation in cash or its equivalent.
If final payment is not made by the financial transaction device
issuer
,
or by other means of payment,

or

by

other guarantor of payment in the transaction, the underlying
obligation survives and the state
elected
official or state entity
shall
retain all remedies for enforcement that would have applied if the
transaction had not occurred.

(I)
(H)

A state
entity

elected
official
or
employee
of
a state entity or state elected official
who
accepts a financial transaction device payment in accordance with
this section and any applicable state or local
statutes,
laws,
policies
,

or rules is immune from personal liability for the final collection
of such payments as specified in section 9.87 of the Revised Code.

(J)
(I)

If the board of deposit determines that it is necessary and in the
state's best interest to contract with an additional
entity

processor

subsequent
to the contract award made under division (C) of this section, the
board may meet and choose to contract with one or more additional

entities

processors

for
the remainder of the period previously established by a contract
award made under division (C) of this section.

(K)
(J)

The administrative agent, in cooperation with the office of budget
and management, may adopt, amend, and rescind rules in accordance
with section 111.15 of the Revised Code to implement and administer
this section.

Sec.
113.78.
The
medical quality assurance fund is created, which shall be in the
custody of the treasurer of state but shall not be part of the state
treasury. The fund shall consist of all money transferred to it as a
result of the repeal of section 3701.89 of the Revised Code on
January 1, 2026, by H.B. 238 of the 135th
General
Assembly
general
assembly
and
its requirements related to the repeal of that section.
Money
in the fund, in excess of current needs, may be invested by the
treasurer of state in accordance with section 135.143 of the Revised
Code. All investment earnings of the fund shall be credited to the
fund.
All
money in the fund shall be used as directed by the general assembly,
which may include funding any of the following programs that the
former Ohio medical quality foundation was authorized to fund in a
similar manner under division (F) of section 3701.89 of the Revised
Code before the repeal of that section by
this
act
H.B.
238 of the 135th general assembly
:

(A)
Programs approved under criteria established under section 4731.251
of the Revised Code;

(B)
Programs designed to improve the quality of graduate medical
education;

(C)
Programs designed to improve risk management and quality assurance in
hospitals, as defined in section 3722.01 of the Revised Code, and in
outpatient settings, including physician offices;

(D)
Other programs, meetings, and educational seminars that are designed
to improve the quality of medical care in this state.

Sec.
118.05.
(A)
Pursuant to the powers of the general assembly and for the purposes
of this chapter, upon the occurrence of a fiscal emergency in any
municipal corporation, county, or township, as determined pursuant to
section 118.04 of the Revised Code, there is established, with
respect to that municipal corporation, county, or township, a body
both corporate and politic constituting an agency and instrumentality
of the state and performing essential governmental functions of the
state to be known as the "financial planning and supervision
commission for _______________ (name of municipal corporation,
county, or township)," which, in that name, may exercise all
authority vested in such a commission by this chapter. Except as
otherwise provided in division (L) of this section, a separate
commission is established with respect to each municipal corporation,
county, or township as to which there is a fiscal emergency as
determined under this chapter.

(B)
A commission shall consist of the following voting members:

(1)
Four ex officio members: the treasurer of state; the director of
budget and management; in the case of a municipal corporation, the
mayor of the municipal corporation and the presiding officer of the
legislative authority of the municipal corporation; in the case of a
county, a member of the board of county commissioners and the county
auditor; in the case of a county that has adopted a charter under
Article X, Ohio Constitution, and under that charter has both a
county executive and a county fiscal officer, the county executive
and the county fiscal officer; and in the case of a township, a
member of the board of township trustees and the county auditor.

The
treasurer of state may designate
a
deputy treasurer or director
an
individual
within
the office of the treasurer of state or any other appropriate person
who is not an employee of the treasurer of state's office; the
director of budget and management may designate an individual within
the office of budget and management or any other appropriate person
who is not an employee of the office of budget and management; the
presiding officer of the legislative authority of the municipal
corporation may designate any other member of the legislative
authority; the board of county commissioners may designate any other
member of the board or the fiscal officer of the county; the fiscal
officer of a county that has adopted a charter under Article X, Ohio
Constitution, may designate an individual within the county fiscal
office; the county auditor may designate an individual within the
county auditor's office; and the board of township trustees may
designate any other member of the board or the fiscal officer of the
township to attend the meetings of the commission when the ex officio
member is absent or unable for any reason to attend. A designee, when
present, shall be counted in determining whether a quorum is present
at any meeting of the commission and may vote and participate in all
proceedings and actions of the commission. The designations shall be
in writing, executed by the ex officio member or entity making the
designation, and filed with the secretary of the commission. The
designations may be changed from time to time in like manner, but due
regard shall be given to the need for continuity.

(2)
If a municipal corporation, county, or township has a population of
at least one thousand, three additional members appointed not later
than fifteen days after the auditor of state determines that a fiscal
emergency exists as follows:

For
a municipal corporation, the governor shall appoint one member; the
mayor shall appoint one member confirmed by the legislative authority
of the municipal corporation; and the county auditor of the county in
which the largest portion of the territory of the municipal
corporation is located shall appoint one member. The county auditor
may appoint the county auditor to the commission.

For
a county, the governor shall appoint one member and the board of
county commissioners shall appoint two members. In the case of a
county that has adopted a charter under Article X, Ohio Constitution,
and under that charter has both a county executive and a county
council, the governor shall appoint one member, the county executive
shall appoint one member, and the county council shall appoint one
member. A member of the board of county commissioners, a county
executive, or a member of the county council is ineligible for
appointment to the commission under this paragraph.

For
a township, the governor shall appoint one member and the board of
township trustees shall appoint two members. A member of the board of
township trustees is ineligible for appointment to the commission
under this paragraph.

Each
of the three appointed members shall serve during the life of the
commission, subject to removal by the appointing authority for
misfeasance, nonfeasance, or malfeasance in office. In the event of
the death, resignation, incapacity, removal, or ineligibility to
serve of an appointed member, the appointing authority that appointed
the member shall appoint a successor, except as otherwise provided in
division (M) of this section.

Each
appointed member shall be an individual:

Who
has knowledge and experience in financial matters, financial
management, or business organization or operations;

Whose
residency, office, or principal place of professional or business
activity is situated within the municipal corporation, county, or
township, except that a county auditor who serves on the commission
of a municipal corporation is not required to reside or have an
office or principal place of professional or business activity in the
municipal corporation;

Who
shall not become a candidate for elected public office while serving
as a member of the commission, except a county auditor who serves on
the commission of a municipal corporation may be a candidate for
reelection to the county auditor's office.

(C)
Immediately after appointment of the initial appointed members of the
commission, the governor shall call the first meeting of the
commission and shall cause written notice of the time, date, and
place of the first meeting to be given to each member of the
commission at least forty-eight hours in advance of the meeting.

(D)
The director of budget and management shall serve as chairperson of
the commission. The commission shall elect one of its members to
serve as vice-chairperson and may appoint a secretary and any other
officers, who need not be members of the commission, it considers
necessary. The chairperson may remove an appointed member if that
member fails to attend three meetings. In that event, the appointing
authority shall fill the vacancy in the same manner as the original
appointment, except as otherwise provided in division (M) of this
section.

(E)
The commission may adopt and alter bylaws and rules, which shall not
be subject to section 111.15 or Chapter 119. of the Revised Code, for
the conduct of its affairs and for the manner, subject to this
chapter, in which its powers and functions shall be exercised and
embodied.

(F)
Four members of a commission established pursuant to divisions (B)(1)
and (2) of this section constitute a quorum of the commission. The
affirmative vote of a majority of the members of the commission 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. Members of the commission, and their
designees, are not disqualified from voting by reason of the
functions of the other office they hold and are not disqualified from
exercising the functions of the other office with respect to the
municipal corporation, county, or township, its officers, or the
commission.

(G)
The auditor of state shall serve as the "financial supervisor"
to the commission unless the auditor of state elects to contract for
that service. As used in this chapter, "financial supervisor"
means the auditor of state.

(H)
At the request of the commission, the auditor of state shall
designate employees of the auditor of state's office to assist the
commission and the financial supervisor and to coordinate the work of
the auditor of state's office and the financial supervisor. Upon the
determination of a fiscal emergency in any municipal corporation,
county, or township, the municipal corporation, county, or township
shall provide the commission with such reasonable office space in the
principal building housing city, county, or township government,
where feasible, as it determines is necessary to carry out its duties
under this chapter.

(I)
The financial supervisor, the members of the commission, the auditor
of state, and any person authorized to act on behalf of or assist
them shall not be personally liable or subject to any suit, judgment,
or claim for damages resulting from the exercise of or failure to
exercise the powers, duties, and functions granted to them in regard
to their functioning under this chapter, but the commission, the
financial supervisor, the auditor of state, and those other persons
shall be subject to mandamus proceedings to compel performance of
their duties under this chapter and with respect to any debt
obligations issued pursuant or subject to this chapter.

(J)
At the request of the commission, the administrative head of any
state agency shall temporarily assign personnel skilled in accounting
and budgeting procedures to assist the commission or the financial
supervisor in its duties as financial supervisor.

(K)
The appointed members of the commission who are members of the board
of township trustees or are not elected officials are not subject to
section 102.02 of the Revised Code. Each appointed member of the
commission shall file with the commission a signed written statement
setting forth the general nature of sales of goods, property, or
services or of loans to the municipal corporation, county, or
township with respect to which that commission is established, in
which the appointed member has a pecuniary interest or in which any
member of the appointed member's immediate family, as defined in
section 102.01 of the Revised Code, or any corporation, partnership,
or enterprise of which the appointed member is an officer, director,
or partner, or of which the appointed member or a member of the
appointed member's immediate family, as so defined, owns more than a
five per cent interest, has a pecuniary interest, and of which sale,
loan, or interest such member has knowledge. The statement shall be
supplemented from time to time to reflect changes in the general
nature of any such sales or loans.

(L)
A commission is not established with respect to any village or
township with a population of less than one thousand as of the most
recent federal decennial census. Upon the occurrence of a fiscal
emergency in such a village or township, the auditor of state shall
serve as the financial supervisor of the village or township and
shall have all the powers and responsibilities of a commission,
including the powers and responsibilities described in section 118.07
of the Revised Code.

(M)(1)
Notwithstanding any contrary provision of division (B)(2) or (D) of
this section, if one or more appointed seats on a commission that was
established before October 17, 2017, are or become vacant, division
(M) of this section applies concerning the commission.

(2)
In the case of a commission established with respect to a municipal
corporation:

(a)
If one such vacancy exists on the commission, the county auditor of
the county in which the largest portion of the territory of the
municipal corporation is located shall appoint a member to fill the
vacancy. The county auditor may appoint the county auditor to the
commission. Of the two remaining appointed members of the commission,
the mayor shall determine, not later than the fifteenth day after
the
effective date of this amendment
November
2, 2018,
or
the fifteenth day after the vacancy occurs, whichever is later, which
of those members shall be considered the member appointed by the
mayor for purposes of divisions (B)(2) and (D) of this section, and
the other appointed member shall be considered the member appointed
by the governor for purposes of divisions (B)(2) and (D) of this
section.

(b)
If two such vacancies exist on the commission, the county auditor of
the county in which the largest portion of the territory of the
municipal corporation is located shall appoint a member to fill one
vacancy, and the mayor shall appoint a member confirmed by the
legislative authority of the municipal corporation to fill the other
vacancy. The county auditor may appoint the county auditor to the
commission. The remaining appointed member of the commission shall be
considered the member appointed by the governor for purposes of
divisions (B)(2) and (D) of this section.

(c)
If three such vacancies exist on the commission, the members shall be
appointed in accordance with division (B)(2) of this section.

(3)
In the case of a commission established with respect to a township:

(a)
If one such vacancy exists on the commission, the board of township
trustees shall appoint a member to fill the vacancy, who shall not be
a member of the board of township trustees. Of the two remaining
appointed members of the commission, the board of township trustees
shall determine, not later than the fifteenth day after
the
effective date of this amendment
November
2, 2018,
or
the fifteenth day after the vacancy occurs, whichever is later, which
of those members shall be considered the member appointed by the
board of township trustees for purposes of divisions (B)(2) and (D)
of this section, and the other appointed member shall be considered
the member appointed by the governor for purposes of divisions (B)(2)
and (D) of this section.

(b)
If two such vacancies exist on the commission, the board of township
trustees shall appoint two members to fill the vacancies, who shall
not be members of the board of township trustees. The remaining
appointed member of the commission shall be considered the member
appointed by the governor for purposes of divisions (B)(2) and (D) of
this section.

(c)
If three such vacancies exist on the commission, the members shall be
appointed in accordance with division (B)(2) of this section.

(4)
After one or more vacancies in appointed seats on a commission have
been filled under division (M) of this section, any subsequent
vacancy or vacancies shall be filled under division (B)(2) or (D) of
this section, as applicable.

Sec.
120.52.
There
is hereby established in the state treasury the legal aid fund, which
shall be for the charitable public purpose of providing financial
assistance to legal aid societies that provide civil legal services
to indigents. The fund shall contain all funds credited to it
by
the treasurer of state
pursuant
to sections 1901.26, 1907.24, 2303.201, 3953.231, 4705.09, and
4705.10 of the Revised Code.

The
treasurer of state may invest moneys contained in the legal aid fund
in any manner authorized by the Revised Code for the investment of
state moneys. However, no such investment shall interfere with any
apportionment, allocation, or payment of moneys as required by
section 120.53 of the Revised Code.

The
state public defender, through the Ohio access to justice foundation,
shall administer the payment of moneys out of the fund. Four and
one-half per cent of the moneys in the fund shall be reserved for the
actual, reasonable costs of administering sections 120.51 to 120.55
and sections 1901.26, 1907.24, 2303.201, 3953.231, 4705.09, and
4705.10 of the Revised Code. Moneys that are reserved for
administrative costs but that are not used for actual, reasonable
administrative costs shall be set aside for use in the manner
described in division (A) of section 120.521 of the Revised Code. The
remainder of the moneys in the legal aid fund shall be distributed in
accordance with section 120.53 of the Revised Code. The Ohio access
to justice foundation shall establish, in accordance with Chapter
119. of the Revised Code, rules governing the administration of the
legal aid fund, including the programs established under sections
1901.26, 1907.24, 2303.201, 4705.09, and 4705.10 of the Revised Code
regarding interest on interest-bearing trust accounts of an attorney,
law firm, or legal professional association.

Sec.
131.01.
As
used in Chapters 113., 117., 123., 124., 125., 126., 127., and 131.
of the Revised Code, and any statute that uses the terms in
connection with state accounting or budgeting:

(A)
"Account" means any record, element, or summary in which
financial transactions are identified and recorded as debit or credit
transactions in order to summarize items of a similar nature or
classification.

(B)
"Accounting procedure" means the arrangement of all
processes which discover, record, and summarize financial information
to produce financial statements and reports and to provide internal
control.

(C)
"Accounting system" means the total structure of records
and procedures which discover, record, classify, and report
information on the financial position and operations of a
governmental unit or any of its funds and organizational components.

(D)
"Allocation" means a portion of an appropriation which is
designated for expenditure by specific organizational units or for
special purposes, activities, or objects that do not relate to a
period of time.

(E)
"Allotment" means all or part of an appropriation which may
be encumbered or expended within a specific period of time.

(F)
"Appropriation" means an authorization granted by the
general assembly to make expenditures and to incur obligations for
specific purposes.

(G)
"Assets" means resources owned, controlled, or otherwise
used or held by the state which have monetary value.

(H)
"Budget" means the plan of financial operation embodying an
estimate of proposed expenditures and obligations for a given period
and the proposed means of financing them.

(I)

"Check"
is a negotiable financial instrument, payable upon demand, directing
a financial institution to transfer money from the payer's account to
the payee.

(J)

"Direct
deposit" is a form of electronic funds transfer in which money
is electronically deposited into the account of a person or entity at
a financial institution.

(J)
(K)

"Disbursement" means a payment made for any purpose.

(K)
(L)

"Electronic benefit transfer" means the electronic delivery
of benefits through automated teller machines, point of sale
terminals, or other electronic media pursuant to section 5101.33 of
the Revised Code.

(L)
(M)

"Electronic funds transfer" means the electronic movement
of funds via automated clearing house or wire transfer.

(M)
(N)

"Encumbrancing document" means a document reserving all or
part of an appropriation.

(N)
(O)

"Expenditure" means a reduction of the balance of an
appropriation after legal requirements have been met.

(O)
(P)

"Fund" means an independent fiscal and accounting entity
with a self-balancing set of accounts recording cash or other
resources, together with all related liabilities, obligations,
reserves, and fund balances which are segregated for the purpose of
carrying on specific activities or attaining certain objectives in
accordance with special rules, restrictions, or limitations.

(P)
(Q)

"Lapse" means the automatic termination of an appropriation
at the end of the fiscal period for which it was appropriated.

(Q)
(R)

"Reappropriation" means an appropriation of a previous
appropriation that is continued in force in a succeeding
appropriation period. "Reappropriation" shall be equated
with and incorporated in the term "appropriation."

(R)
(S)

"Stored value card" means a payment card that may have
money loaded and stored on the card and accessed through automated
teller machines, point of sale terminals, or other electronic media.
"Stored value card" does not include any payment card
linked to, and that can access money in, an external account
maintained by a financial institution.

(S)
(T)

"Voucher" means the document used to transmit a claim for
payment and evidentiary matter related to the claim.

(T)
(U)

"Warrant" means an order drawn upon the treasurer of state
by the director of budget and management, or an authorized person at
a state entity that has a custodial account in the custody of the
treasurer of state, directing the treasurer of state to pay a
specified amount to one or more specified payees. A variety of
payment instruments may be used, including but not limited to paper
warrants

or checks
,
stored value cards, direct deposit to the payee's bank account, or
the drawdown of funds by electronic benefit transfer, and the
resulting electronic transfer to or by the ultimate payees.

The
terms defined in this section shall be used, on all accounting forms,
reports, formal rules, and budget requests produced by a state
agency, only as defined in this section.

Sec.
131.50.
(A)
There is hereby created in the state treasury the state land royalty
fund consisting of money credited to it under section 155.33 of the
Revised Code. Any investment proceeds earned on money in the fund
shall be credited to the fund.

(B)(1)
A state agency is entitled to receive from the fund the amount that
the state agency contributed and a share of the investment earnings
of the fund in an amount that is equivalent to the proportionate
share of contributions made by the state agency to the fund.
Regarding the department of natural resources, each division within
the department is entitled to receive from the department's
proportionate share all amounts received by the department that are
attributable to the state-owned land controlled by that division.

(2)
The
treasurer
of state, in consultation with the
director
of budget and management
,

shall disburse money from the state land royalty fund to the
appropriate fund designated by the state agency not later than thirty
days after the deposit of any money into the state land royalty fund.
If the state agency is the department of natural resources, the

treasurer
of state
director
of budget and management
,
in consultation with
the
director of budget and management and
the
director of natural resources, shall disburse the money to the
appropriate fund designated by the applicable division within the
department.

(3)
A state agency or, as applicable, a division of the department of
natural resources, may use the money for any costs and expenses the
agency determines are necessary.

(C)
As used in this section, "state agency" has the same
meaning as in section 155.30 of the Revised Code.

Sec.
135.01.
Except
as otherwise provided in sections 135.14, 135.143, 135.181, and
135.182 of the Revised Code, as used in sections 135.01 to 135.21 of
the Revised Code:

(A)
"Active deposit" means a public deposit necessary to meet
current demands on the treasury,
or
a fund that is in the custody of the treasurer of state but not part
of the state treasury,
and
that is deposited in any of the following:

(1)
A commercial account that is payable or withdrawable, in whole or in
part, on demand;

(2)
A negotiable order of withdrawal account as authorized in the
"Consumer Checking Account Equity Act of 1980," 94 Stat.
146, 12 U.S.C.A. 1832(a);

(3)
A money market deposit account as authorized in the "Garn-St.
Germain Depository Institutions Act of 1982," 96 Stat. 1501, 12
U.S.C. 3503.

(B)
"Auditor" includes the auditor of state and the auditor, or
officer exercising the functions of an auditor, of any subdivision.

(C)
"Capital funds" means the sum of the following: the par
value of the outstanding common capital stock, the par value of the
outstanding preferred capital stock, the aggregate par value of all
outstanding capital notes and debentures, and the surplus. In the
case of an institution having offices in more than one county, the
capital funds of such institution, for the purposes of sections
135.01 to 135.21 of the Revised Code, relative to the deposit of the
public moneys of the subdivisions in one such county, shall be
considered to be that proportion of the capital funds of the
institution that is represented by the ratio that the deposit
liabilities of such institution originating at the office located in
the county bears to the total deposit liabilities of the institution.

(D)
"Governing board" means, in the case of the state, the
state board of deposit; in the case of all school districts and
educational service centers except as otherwise provided in this
section, the board of education or governing board of a service
center, and when the case so requires, the board of commissioners of
the sinking fund; in the case of a municipal corporation, the
legislative authority, and when the case so requires, the board of
trustees of the sinking fund; in the case of a township, the board of
township trustees; in the case of a union or joint institution or
enterprise of two or more subdivisions not having a treasurer, the
board of directors or trustees thereof; and in the case of any other
subdivision electing or appointing a treasurer, the directors,
trustees, or other similar officers of such subdivision. The
governing board of a subdivision electing or appointing a treasurer
shall be the governing board of all other subdivisions for which such
treasurer is authorized by law to act. In the case of a county school
financing district that levies a tax pursuant to section 5705.215 of
the Revised Code, the county board of education that serves as its
taxing authority shall operate as a governing board. Any other county
board of education shall operate as a governing board unless it
adopts a resolution designating the board of county commissioners as
the governing board for the county school district.

(E)
"Inactive deposit" means a public deposit other than an
interim deposit or an active deposit.

(F)
"Interim deposit" means a deposit of interim moneys.
"Interim moneys" means public moneys in the treasury of any
subdivision after the award of inactive deposits has been made in
accordance with section 135.07 of the Revised Code, which moneys are
in excess of the aggregate amount of the inactive deposits as
estimated by the governing board prior to the period of designation
and which the governing board finds should not be deposited as active
or inactive deposits for the reason that such moneys will not be
needed for immediate use but will be needed before the end of the
period of designation. In the case of the state treasury, "interim
moneys" means public moneys that are not active deposits and may
be invested in accordance with section 135.143 of the Revised Code.

(G)
"Permissible rate of interest" means a rate of interest
that all eligible institutions mentioned in section 135.03 of the
Revised Code are permitted to pay by law or valid regulations.

(H)
"Warrant clearance account" means an account established by
the treasurer of state for either of the following purposes:

(a)
(1)

The deposit of active state moneys for the purposes of clearing state
paper warrants
or
checks
through
the banking system, funding electronic benefit transfer cards,
issuing stored value cards, or otherwise facilitating the settlement
of state obligations;

(b)
(2)

The deposit of custodial moneys from an account held in the custody
of the treasurer of state to facilitate settlement of obligations of
the custodial fund.

(I)
"Public deposit" means public moneys deposited in a public
depository pursuant to sections 135.01 to 135.21 of the Revised Code.

(J)
"Public depository" means an institution which receives or
holds any public deposits.

(K)
"Public moneys" means all moneys in the treasury of the
state or any subdivision of the state, or moneys coming lawfully into
the possession or custody of the treasurer of state or of the
treasurer of any subdivision. "Public moneys of the state"
includes all such moneys coming lawfully into the possession of the
treasurer of state; and "public moneys of a subdivision"
includes all such moneys coming lawfully into the possession of the
treasurer of the subdivision.

(L)
"Subdivision" means any municipal corporation, except one
which has adopted a charter under Article XVIII, Ohio Constitution,
and the charter or ordinances of the chartered municipal corporation
set forth special provisions respecting the deposit or investment of
its public moneys, or any school district or educational service
center, a county school financing district, township, municipal or
school district sinking fund, special taxing or assessment district,
or other district or local authority electing or appointing a
treasurer, except a county. In the case of a school district or
educational service center, special taxing or assessment district, or
other local authority for which a treasurer, elected or appointed
primarily as the treasurer of a subdivision, is authorized or
required by law to act as ex officio treasurer, the subdivision for
which such a treasurer has been primarily elected or appointed shall
be considered to be the "subdivision." The term also
includes a union or joint institution or enterprise of two or more
subdivisions, that is not authorized to elect or appoint a treasurer,
and for which no ex officio treasurer is provided by law.

(M)
"Treasurer" means, in the case of the state, the treasurer
of state and in the case of any subdivision, the treasurer, or
officer exercising the functions of a treasurer, of such subdivision.
In the case of a board of trustees of the sinking fund of a municipal
corporation, the board of commissioners of the sinking fund of a
school district, or a board of directors or trustees of any union or
joint institution or enterprise of two or more subdivisions not
having a treasurer, such term means such board of trustees of the
sinking fund, board of commissioners of the sinking fund, or board of
directors or trustees.

(N)
"Treasury investment board" of a municipal corporation
means the mayor or other chief executive officer, the village
solicitor or city director of law, and the auditor or other chief
fiscal officer.

(O)
"No-load money market mutual fund" means a no-load money
market mutual fund to which all of the following apply:

(1)
The fund is registered as an investment company under the "Investment
Company Act of 1940," 54 Stat. 789, 15 U.S.C.A. 80a-1 to 80a-64;

(2)
The fund has the highest letter or numerical rating provided by at
least one nationally recognized statistical rating organization;

(3)
The fund does not include any investment in a derivative. As used in
division (O)(3) of this section, "derivative" means a
financial instrument or contract or obligation whose value or return
is based upon or linked to another asset or index, or both, separate
from the financial instrument, contract, or obligation itself. Any
security, obligation, trust account, or other instrument that is
created from an issue of the United States treasury or is created
from an obligation of a federal agency or instrumentality or is
created from both is considered a derivative instrument. An eligible
investment described in section 135.14 or 135.35 of the Revised Code
with a variable interest rate payment, based upon a single interest
payment or single index comprised of other investments provided for
in division (B)(1) or (2) of section 135.14 of the Revised Code, is
not a derivative, provided that such variable rate investment has a
maximum maturity of two years.

(P)
"Public depositor" means the state or a subdivision, as
applicable, that deposits public moneys in a public depository
pursuant to sections 135.01 to 135.21 of the Revised Code.

(Q)
"Uninsured public deposit" means the portion of a public
deposit that is not insured by the federal deposit insurance
corporation or by any other agency or instrumentality of the federal
government.

Sec.
135.03.
(A)
As used in this section, "banking office" has the same
meaning as in division (D) of section 1101.01 of the Revised Code.

(B)

Any
national bank, any bank doing business under authority granted by the
superintendent of financial institutions, or any bank doing business
under authority granted by the regulatory authority of another state
of the United States,
and
which has a banking office
located
in this state, is eligible to become a public depository, subject to
sections 135.01 to 135.21 of the Revised Code. No bank shall receive
or have on deposit at any one time public moneys, including public
moneys as defined in section 135.31 of the Revised Code, in an
aggregate amount in excess of thirty per cent of its total assets, as
shown in its latest report to the comptroller of the currency, the
superintendent of financial institutions, the federal deposit
insurance corporation, or the board of governors of the federal
reserve system.

(C)

Any
federal savings association or any savings and loan association or
savings bank doing business under authority granted by the regulatory
authority of another state of the United States,
and
which has a banking office
located
in this state, and authorized to accept deposits is eligible to
become a public depository, subject to sections 135.01 to 135.21 of
the Revised Code. No savings association, savings and loan
association, or savings bank shall receive or have on deposit at any
one time public moneys, including public moneys as defined in section
135.31 of the Revised Code, in an aggregate amount in excess of
thirty per cent of its total assets, as shown in its latest report to
the former office of thrift supervision, the comptroller of the
currency, the superintendent of financial institutions, the federal
deposit insurance corporation, or the board of governors of the
federal reserve system.

Sec.
135.032.
(A)
For the purposes of this section:

(1)
"Institution" means an institution eligible to become a
public depository under section 135.03 or 135.32 of the Revised Code
or an eligible credit union, as defined in section 135.62 of the
Revised Code.

(2)
"Prompt corrective action directive" means a directive
issued by a regulatory authority of the United States as authorized
under 12 U.S.C. 1790d or 1831o

or, in the case of a nonfederally insured institution chartered in
this state, a directive issued by the superintendent of the division
of financial institutions
.

(B)
An institution designated as a public depository under this chapter
shall
notify

provide
written notification within five business days, as defined in section
3901.81 of the Revised Code, to
each
governing board that made such designation if the institution becomes
party to an active prompt corrective action directive.

(C)
Except as otherwise provided in division (D) of this section, an
institution is ineligible to become a public depository under this
chapter or to have active, interim, or inactive deposits awarded,
placed, purchased, made, or designated pursuant to this chapter, if
the institution is party to an active prompt corrective action
directive.

(D)
If a governing board receives notice under division (B) of this
section, or otherwise becomes aware that an institution the board
designated as a public depository is party to an active prompt
corrective action directive, the board may do either or both of the
following, if the board determines that it is in the public interest:

(1)
Allow the public depository to continue to have active, interim, or
inactive deposits awarded, placed, purchased, made, or designated for
the remainder of the designation period;

(2)
Designate the institution as a public depository for additional
succeeding designation periods.

(E)
If a governing board determines that one or both of the actions
permitted by division (D) of this section are in the public interest,
and public moneys are lost due to the failure of the public
depository subject to the active prompt correction directive, all of
the following are relieved from any liability for that loss:

(1)
The governing board's treasurer and deputy treasurer;

(2)
An executive director, director, or other person employed by the
governing board, its treasurer, or its deputy treasurer;

(3)
Bondspersons and surety of any person described in divisions (E)(1)
and (2) of this section.

Sec.
135.14.
(A)
As used in this section:

(1)
"Treasurer" does not include the treasurer of state, and
"governing board" does not include the state board of
deposit.

(2)
"Other obligations" includes notes whether or not issued in
anticipation of the issuance of bonds.

(B)
The treasurer or governing board may invest or deposit any part or
all of the interim moneys. The following classifications of
obligations shall be eligible for such investment or deposit:

(1)
United States treasury bills, notes, bonds, or any other obligation
or security issued by the United States treasury or any other
obligation guaranteed as to principal and interest by the United
States.

Nothing
in the classification of eligible obligations set forth in division
(B)(1) of this section or in the classifications of eligible
obligations set forth in divisions (B)(2) to (7) of this section
shall be construed to authorize any investment in stripped principal
or interest obligations of such eligible obligations.

(2)
Bonds, notes, debentures, or any other obligations or securities
issued by any federal government agency or instrumentality, including
but not limited to, the federal national mortgage association,
federal home loan bank, federal farm credit bank, federal home loan
mortgage corporation, and government national mortgage association.
All federal agency securities shall be direct issuances of federal
government agencies or instrumentalities.

(3)
Interim deposits in the eligible institutions applying for interim
moneys as provided in section 135.08 of the Revised Code. The award
of interim deposits shall be made in accordance with section 135.09
of the Revised Code and the treasurer or the governing board shall
determine the periods for which such interim deposits are to be made
and shall award such interim deposits for such periods, provided that
any eligible institution receiving an interim deposit award may, upon
notification that the award has been made, decline to accept the
interim deposit in which event the award shall be made as though the
institution had not applied for such interim deposit.

(4)
Bonds and other obligations of this state, or the political
subdivisions of this state, provided that, with respect to bonds or
other obligations of political subdivisions, all of the following
apply:

(a)
The bonds or other obligations are payable from general revenues of
the political subdivision and backed by the full faith and credit of
the political subdivision.

(b)
The bonds or other obligations are rated at the time of purchase in
the three highest classifications established by at least one
nationally recognized statistical rating organization and purchased
through a registered securities broker or dealer.

(c)
The aggregate value of the bonds or other obligations does not exceed
twenty per cent of interim moneys available for investment at the
time of purchase.

(d)
The treasurer or governing board is not the sole purchaser of the
bonds or other obligations at original issuance.

(e)
The bonds or other obligations mature within ten years from the date
of settlement.

No
investment shall be made under division (B)(4) of this section unless
the treasurer or governing board has completed additional training
for making the investments authorized by division (B)(4) of this
section. The type and amount of additional training shall be approved
by the treasurer of state and may be conducted by or provided under
the supervision of the treasurer of state.

(5)
No-load money market mutual funds consisting exclusively of
obligations described in division (B)(1) or (2) of this section and
repurchase agreements secured by such obligations, provided that
investments in securities described in this division are made only
through eligible institutions mentioned in section 135.03 of the
Revised Code;

(6)
The Ohio subdivision's fund as provided in section
135.45

113.07

of
the Revised Code;

(7)
Up to forty per cent of interim moneys available for investment in
either of the following:

(a)
Commercial paper notes issued by an entity that is defined in
division (K) of section 1706.01 of the Revised Code and that has
assets exceeding five hundred million dollars, to which notes all of
the following apply:

(i)
The notes are rated at the time of purchase in the highest
classification established by at least two nationally recognized
statistical rating organizations.

(ii)
The aggregate value of the notes does not exceed ten per cent of the
aggregate value of the outstanding commercial paper of the issuing
corporation.

(iii)
The notes mature not later than two hundred seventy days after
purchase.

(iv)
The investment in commercial paper notes of a single issuer shall not
exceed in the aggregate five per cent of interim moneys available for
investment at the time of purchase.

(b)
Bankers acceptances of banks that are insured by the federal deposit
insurance corporation and that mature not later than one hundred
eighty days after purchase.

No
investment shall be made pursuant to division (B)(7) of this section
unless the treasurer or governing board has completed additional
training for making the investments authorized by division (B)(7) of
this section. The type and amount of additional training shall be
approved by the treasurer of state and may be conducted by or
provided under the supervision of the treasurer of state.

(C)
Nothing in the classifications of eligible obligations set forth in
divisions (B)(1) to (7) of this section shall be construed to
authorize any investment in a derivative, and no treasurer or
governing board shall invest in a derivative. For purposes of this
division, "derivative" means a financial instrument or
contract or obligation whose value or return is based upon or linked
to another asset or index, or both, separate from the financial
instrument, contract, or obligation itself. Any security, obligation,
trust account, or other instrument that is created from an issue of
the United States treasury or is created from an obligation of a
federal agency or instrumentality or is created from both is
considered a derivative instrument. An eligible investment described
in this section with a variable interest rate payment, based upon a
single interest payment or single index comprised of other eligible
investments provided for in division (B)(1) or (2) of this section,
is not a derivative, provided that such variable rate investment has
a maximum maturity of two years.

(D)
Except as provided in division (B)(4) or (E) of this section, any
investment made pursuant to this section must mature within five
years from the date of settlement, unless the investment is matched
to a specific obligation or debt of the subdivision.

(E)
The treasurer or governing board may also enter into a written
repurchase agreement with any eligible institution mentioned in
section 135.03 of the Revised Code or any eligible dealer pursuant to
division (M) of this section, under the terms of which agreement the
treasurer or governing board purchases, and such institution or
dealer agrees unconditionally to repurchase any of the securities
listed in divisions (D)(1) to (5), except letters of credit described
in division (D)(2), of section 135.18 of the Revised Code. The market
value of securities subject to an overnight written repurchase
agreement must exceed the principal value of the overnight written
repurchase agreement by at least two per cent. A written repurchase
agreement shall not exceed thirty days and the market value of
securities subject to a written repurchase agreement must exceed the
principal value of the written repurchase agreement by at least two
per cent and be marked to market daily. All securities purchased
pursuant to this division shall be delivered into the custody of the
treasurer or governing board or an agent designated by the treasurer
or governing board. A written repurchase agreement with an eligible
securities dealer shall be transacted on a delivery versus payment
basis. The agreement shall contain the requirement that for each
transaction pursuant to the agreement the participating institution
or dealer shall provide all of the following information:

(1)
The par value of the securities;

(2)
The type, rate, and maturity date of the securities;

(3)
A numerical identifier generally accepted in the securities industry
that designates the securities.

No
treasurer or governing board shall enter into a written repurchase
agreement under the terms of which the treasurer or governing board
agrees to sell securities owned by the subdivision to a purchaser and
agrees with that purchaser to unconditionally repurchase those
securities.

(F)
No treasurer or governing board shall make an investment under this
section, unless the treasurer or governing board, at the time of
making the investment, reasonably expects that the investment can be
held until its maturity.

(G)
No treasurer or governing board shall pay interim moneys into a fund
established by another subdivision, treasurer, governing board, or
investing authority, if that fund was established for the purpose of
investing the public moneys of other subdivisions. This division does
not apply to the payment of public moneys into either of the
following:

(1)
The Ohio subdivision's fund pursuant to division (B)(6) of this
section;

(2)
A fund created solely for the purpose of acquiring, constructing,
owning, leasing, or operating municipal utilities pursuant to the
authority provided under section 715.02 of the Revised Code or
Section 4 of Article XVIII, Ohio Constitution.

For
purposes of division (G) of this section, "subdivision"
includes a county.

(H)
The use of leverage, in which the treasurer or governing board uses
its current investment assets as collateral for the purpose of
purchasing other assets, is prohibited. The issuance of taxable notes
for the purpose of arbitrage is prohibited. Contracting to sell
securities that have not yet been acquired by the treasurer or
governing board, for the purpose of purchasing such securities on the
speculation that bond prices will decline, is prohibited.

(I)
Whenever, during a period of designation, the treasurer classifies
public moneys as interim moneys, the treasurer shall notify the
governing board of such action. The notification shall be given
within thirty days after such classification and in the event the
governing board does not concur in such classification or in the
investments or deposits made under this section, the governing board
may order the treasurer to sell or liquidate any of such investments
or deposits, and any such order shall specifically describe the
investments or deposits and fix the date upon which they are to be
sold or liquidated. Investments or deposits so ordered to be sold or
liquidated shall be sold or liquidated for cash by the treasurer on
the date fixed in such order at the then current market price.
Neither the treasurer nor the members of the board shall be held
accountable for any loss occasioned by sales or liquidations of
investments or deposits at prices lower than their cost. Any loss or
expense incurred in making such sales or liquidations is payable as
other expenses of the treasurer's office.

(J)
If any investments or deposits purchased under the authority of this
section are issuable to a designated payee or to the order of a
designated payee, the name of the treasurer and the title of the
treasurer's office shall be so designated. If any such securities are
registrable either as to principal or interest, or both, then such
securities shall be registered in the name of the treasurer as such.

(K)
The treasurer is responsible for the safekeeping of all documents
evidencing a deposit or investment acquired by the treasurer under
this section. Any securities may be deposited for safekeeping with a
qualified trustee as provided in section 135.18 of the Revised Code,
except the delivery of securities acquired under any repurchase
agreement under this section shall be made to a qualified trustee,
provided, however, that the qualified trustee shall be required to
report to the treasurer, governing board, auditor of state, or an
authorized outside auditor at any time upon request as to the
identity, market value, and location of the document evidencing each
security, and that if the participating institution is a designated
depository of the subdivision for the current period of designation,
the securities that are the subject of the repurchase agreement may
be delivered to the treasurer or held in trust by the participating
institution on behalf of the subdivision. Interest earned on any
investments or deposits authorized by this section shall be collected
by the treasurer and credited by the treasurer to the proper fund of
the subdivision.

Upon
the expiration of the term of office of a treasurer or in the event
of a vacancy in the office of treasurer by reason of death,
resignation, removal from office, or otherwise, the treasurer or the
treasurer's legal representative shall transfer and deliver to the
treasurer's successor all documents evidencing a deposit or
investment held by the treasurer. For the investments and deposits so
transferred and delivered, such treasurer shall be credited with and
the treasurer's successor shall be charged with the amount of money
held in such investments and deposits.

(L)
Whenever investments or deposits acquired under this section mature
and become due and payable, the treasurer shall present them for
payment according to their tenor, and shall collect the moneys
payable thereon. The moneys so collected shall be treated as public
moneys subject to sections 135.01 to 135.21 of the Revised Code.

(M)(1)
All investments, except for investments in securities described in
divisions (B)(5) and (6) of this section and for investments by a
municipal corporation in the issues of such municipal corporation,
shall be made only through a member of the financial industry
regulatory authority (FINRA), through a bank, savings bank, or
savings and loan association regulated by the superintendent of
financial institutions, or through an institution regulated by the
comptroller of the currency, federal deposit insurance corporation,
or board of governors of the federal reserve system.

(2)
Payment for investments shall be made only upon the delivery of
securities representing such investments to the treasurer, governing
board, or qualified trustee. If the securities transferred are not
represented by a certificate, payment shall be made only upon receipt
of confirmation of transfer from the custodian by the treasurer,
governing board, or qualified trustee.

(N)
In making investments authorized by this section, a treasurer or
governing board may retain the services of an investment advisor,
provided the advisor is licensed by the division of securities under
section 1707.141 of the Revised Code or is registered with the
securities and exchange commission, and possesses experience in
public funds investment management, specifically in the area of state
and local government investment portfolios, or the advisor is an
eligible institution mentioned in section 135.03 of the Revised Code.

(O)(1)
Except as otherwise provided in divisions (O)(2) and (3) of this
section, no treasurer or governing board shall make an investment or
deposit under this section, unless there is on file with the auditor
of state a written investment policy approved by the treasurer or
governing board. The policy shall require that all entities
conducting investment business with the treasurer or governing board
shall sign the investment policy of that subdivision. All brokers,
dealers, and financial institutions, described in division (M)(1) of
this section, initiating transactions with the treasurer or governing
board by giving advice or making investment recommendations shall
sign the treasurer's or governing board's investment policy thereby
acknowledging their agreement to abide by the policy's contents. All
brokers, dealers, and financial institutions, described in division
(M)(1) of this section, executing transactions initiated by the
treasurer or governing board, having read the policy's contents,
shall sign the investment policy thereby acknowledging their
comprehension and receipt.

(2)
If a written investment policy described in division (O)(1) of this
section is not filed on behalf of the subdivision with the auditor of
state, the treasurer or governing board of that subdivision shall
invest the subdivision's interim moneys only in interim deposits
pursuant to division (B)(3) of this section or interim deposits
pursuant to section 135.145 of the Revised Code and approved by the
treasurer of state, no-load money market mutual funds pursuant to
division (B)(5) of this section, or the Ohio subdivision's fund
pursuant to division (B)(6) of this section.

(3)
Divisions (O)(1) and (2) of this section do not apply to a treasurer
or governing board of a subdivision whose average annual portfolio of
investments held pursuant to this section is one hundred thousand
dollars or less, provided that the treasurer or governing board
certifies, on a form prescribed by the auditor of state, that the
treasurer or governing board will comply and is in compliance with
the provisions of sections 135.01 to 135.21 of the Revised Code.

(P)
A treasurer or governing board may enter into a written investment or
deposit agreement that includes a provision under which the parties
agree to submit to nonbinding arbitration to settle any controversy
that may arise out of the agreement, including any controversy
pertaining to losses of public moneys resulting from investment or
deposit. The arbitration provision shall be set forth entirely in the
agreement, and the agreement shall include a conspicuous notice to
the parties that any party to the arbitration may apply to the court
of common pleas of the county in which the arbitration was held for
an order to vacate, modify, or correct the award. Any such party may
also apply to the court for an order to change venue to a court of
common pleas located more than one hundred miles from the county in
which the treasurer or governing board is located.

For
purposes of this division, "investment or deposit agreement"
means any agreement between a treasurer or governing board and a
person, under which agreement the person agrees to invest, deposit,
or otherwise manage a subdivision's interim moneys on behalf of the
treasurer or governing board, or agrees to provide investment advice
to the treasurer or governing board.

(Q)
An investment made by the treasurer or governing board pursuant to
this section prior to September 27, 1996, that was a legal investment
under the law as it existed before September 27, 1996, may be held
until maturity.

Sec.
135.143.
(A)
The treasurer of state may invest or execute transactions for any
part or all of the interim funds of the state in the following
classifications of obligations:

(1)
United States treasury bills, notes, bonds, or any other obligations
or securities issued by the United States treasury or any other
obligation guaranteed as to principal and interest by the United
States;

(2)
Bonds, notes, debentures, or any other obligations or securities
issued by any federal government agency or instrumentality;

(3)(a)
Bonds, notes, and other obligations of the state of Ohio, including,
but not limited to, any obligations issued by the treasurer of state,
the Ohio public facilities commission, the Ohio housing finance
agency, the Ohio water development authority, the Ohio turnpike
infrastructure commission, the Ohio higher educational facility
commission, and state institutions of higher education as defined in
section 3345.011 of the Revised Code;

(b)
Bonds, notes, and other obligations of any state or political
subdivision thereof rated in the three highest categories by at least
one nationally recognized statistical rating organization and
purchased through a registered securities broker or dealer, provided
the treasurer of state is not the sole purchaser of the bonds, notes,
or other obligations at original issuance.

(4)(a)
Written repurchase agreements with any eligible Ohio financial
institution that is a member of the federal reserve system or federal
home loan bank, any registered United States government securities
dealer, or any counterparty rated in one of the three highest
categories by at least one nationally recognized statistical rating
organization or otherwise determined by the treasurer of state to
have adequate capital and liquidity, under the terms of which
agreement the treasurer of state purchases and the eligible financial
institution, dealer, or counterparty agrees unconditionally to
repurchase any of the securities that are listed in division (A)(1),
(2), (3), (6), or (11) of this section. The market value of
securities subject to these transactions must exceed the principal
value of the repurchase agreement by an amount specified by the
treasurer of state, and the securities must be delivered into the
custody of the treasurer of state or the qualified trustee or agent
designated by the treasurer of state. The agreement shall contain the
requirement that for each transaction pursuant to the agreement, the
participating institution, dealer, or counterparty shall provide all
of the following information:

(i)
The par value of the securities;

(ii)
The type, rate, and maturity date of the securities;

(iii)
A numerical identifier generally accepted in the securities industry
that designates the securities.

(b)
The treasurer of state also may sell any securities, listed in
division (A)(1), (2), (6), or (11) of this section, regardless of
maturity or time of redemption of the securities, under the same
terms and conditions for repurchase, provided that the securities
have been fully paid for and are owned by the treasurer of state at
the time of the sale.

(c)
For purposes of division (A)(4) of this section, the treasurer of
state shall only buy or sell securities listed in division (A)(11) of
this section issued by entities that are organized under the laws of
this state, any other state, or the United States.

(5)
Securities lending agreements with any eligible financial institution
that is a member of the federal reserve system or federal home loan
bank or any recognized United States government securities dealer,
under the terms of which agreements the treasurer of state lends
securities and the eligible financial institution or dealer agrees to
simultaneously exchange similar securities or cash, equal value for
equal value.

Securities
and cash received as collateral for a securities lending agreement
are not interim funds of the state. The investment of cash collateral
received pursuant to a securities lending agreement may be invested
only in such instruments specified by the treasurer of state in
accordance with a written investment policy.

(6)
Various forms of commercial paper issued by any entity that is
organized under the laws of the United States or a state, which notes
are rated in the two highest categories by two nationally recognized
statistical rating organizations, provided that the total amount
invested under this section in any commercial paper at any time shall
not exceed forty per cent of the state's total average portfolio, as
determined and calculated by the treasurer of state;

(7)
Bankers acceptances, maturing in two hundred seventy days or less,
provided that the total amount invested in bankers acceptances at any
time shall not exceed ten per cent of the state's total average
portfolio, as determined and calculated by the treasurer of state;

(8)
Certificates of deposit, savings accounts, or deposit accounts in
eligible institutions applying for interim moneys as provided in
section 135.08 of the Revised Code, including linked deposits as
authorized under section 135.61 of the Revised Code
;
.
For interim funds invested in accordance with division (A)(8) of this
section, the pledging requirements described in sections 135.18,
135.181, or 135.182 of the Revised Code may be reduced by up to ten
per cent in accordance with rules adopted by the treasurer of state.

(9)
Negotiable certificates of deposit denominated in United States
dollars issued by a nationally or state-chartered bank, a savings
association or a federal savings association, a state or federal
credit union, or a federally licensed or state-licensed branch of a
foreign bank, which are rated in the two highest categories by two
nationally recognized statistical rating organizations, provided that
the total amount invested under this section in negotiable
certificates of deposit at any time shall not exceed twenty-five per
cent of the state's total average portfolio, as determined and
calculated by the treasurer of state. Interim funds invested in
accordance with division (A)(9) of this section are not limited to
institutions applying for interim moneys under section 135.08 of the
Revised Code, nor are they subject to any pledging requirements
described in sections 135.18, 135.181, or 135.182 of the Revised
Code.

(10)
The state treasurer's investment pool authorized under section
135.45

113.07

of
the Revised Code;

(11)
Debt interests, other than commercial paper described in division
(A)(6) of this section, rated in the
three

four

highest
categories by two nationally recognized statistical rating
organizations and issued by entities that are organized under the
laws of the United States or a state, or issued by foreign nations
diplomatically recognized by the United States government, or any
instrument based on, derived from, or related to such interests,
provided that:

(a)
The investments in debt interests other than commercial paper, when
added to the investment in written repurchase agreements for
securities listed in division (A)(3) or (11) of this section, shall
not exceed in the aggregate twenty-five per cent of the state's
portfolio

nor shall investments rated in the lowest of the four categories
exceed in the aggregate ten per cent of the state's portfolio
.

(b)
The investments in debt interests issued by foreign nations shall not
exceed in the aggregate two per cent of the state's portfolio.

The
treasurer of state shall invest under division (A)(11) of this
section in a debt interest issued by a foreign nation only if the
debt interest is backed by the full faith and credit of that foreign
nation, and provided that all interest and principal shall be
denominated and payable in United States funds.

(c)
When added to the investment in commercial paper and negotiable
certificates of deposit, the investments in the debt interests of a
single issuer shall not exceed in the aggregate five per cent of the
state's portfolio.

(d)
For purposes of division (A)(11) of this section, a debt interest is
rated in the
three

four

highest
categories by two nationally recognized statistical rating
organizations if either the debt interest itself or the issuer of the
debt interest is rated, or is implicitly rated, in the
three

four

highest
categories by two nationally recognized statistical rating
organizations.

(e)
For purposes of division (A)(11) of this section, the "state's
portfolio" means the state's total average portfolio, as
determined and calculated by the treasurer of state.

(12)
No-load money market mutual funds rated in the highest category by
one nationally recognized statistical rating organization or
consisting exclusively of obligations described in division (A)(1),
(2), or (6) of this section and repurchase agreements secured by such
obligations;

(13)
Obligations issued by, or on behalf of, an Ohio political subdivision
under Chapter 133. of the Revised Code or Section 12 of Article
XVIII, Ohio Constitution, and identified in an agreement described in
division (G) of this section;

(14)
Obligations issued by the state of Ohio, any political subdivision
thereof, or by or on behalf of any nonprofit corporation or
association doing business in this state rated in the four highest
categories by at least one nationally recognized statistical rating
organization and identified in an agreement described in division (K)
of this section.

(B)
On or before the tenth day of each month, the treasurer of state
shall notify the state board of deposit that the following reports
pertaining to the immediately preceding month have been posted to the
web site maintained by the treasurer of state:

(1)
The daily ledger report of state funds prepared in accordance with
section 113.13 of the Revised Code;

(2)
The monthly portfolio report detailing the current inventory of all
investments and deposits held within the classification of interim
moneys;

(3)
The monthly activity report within the classification of interim
moneys summarized by type of investment or deposit.

In
the event the state board of deposit does not concur in such
classification or in the investments or deposits made under this
section, the board may order the treasurer of state to sell or
liquidate any of the investments or deposits, and any such order
shall specifically describe the investments or deposits and fix the
date upon which they are to be sold or liquidated. Investments or
deposits so ordered to be sold or liquidated shall be sold or
liquidated for cash by the treasurer of state on the date fixed in
such order at the then current market price. Neither the treasurer of
state nor the members of the state board of deposit shall be held
accountable for any loss occasioned by sales or liquidations of
investments or deposits at prices lower than their cost. Any loss or
expense incurred in making these sales or liquidations is payable as
other expenses of the treasurer's office.

(C)
If any securities or obligations invested in by the treasurer of
state pursuant to this section are registrable either as to principal
or interest, or both, such securities or obligations shall be
registered in the name of the treasurer of state.

(D)
The treasurer of state is responsible for the safekeeping of all
securities or obligations under this section. Any such securities or
obligations may be deposited for safekeeping as provided in section
113.05 of the Revised Code.

(E)
Interest earned on any investments or deposits authorized by this
section shall be collected by the treasurer of state and credited by
the treasurer of state to the proper fund of the state.

(F)
Whenever investments or deposits acquired under this section mature
and become due and payable, the treasurer of state shall present them
for payment according to their tenor, and shall collect the moneys
payable thereon. The moneys so collected shall be treated as public
moneys subject to sections 135.01 to 135.21 of the Revised Code.

(G)
The treasurer of state and any entity issuing obligations referred to
in division (A)(13) of this section, which obligations mature within

one
year
two
years
from
the original date of issuance, may enter into an agreement providing
for:

(1)
The purchase of those obligations by the treasurer of state on terms
and subject to conditions set forth in the agreement;

(2)
The payment to the treasurer of state of a reasonable fee as
consideration for the agreement of the treasurer of state to purchase
those obligations; provided, however, that the treasurer of state
shall not be authorized to enter into any such agreement with a board
of education of a school district that has an outstanding obligation
with respect to a loan received under authority of section 3313.483
of the Revised Code.

(H)
For purposes of division (G) of this section, a fee shall not be
considered reasonable unless it is set to recover only the direct
costs, a reasonable estimate of the indirect costs associated with
the purchasing of obligations under division (G) of this section and
any reselling of the obligations or any interest in the obligations,
including interests in a fund comprised of the obligations, and the
administration thereof. No money from the general revenue fund shall
be used to subsidize the purchase or resale of these obligations.

(I)
All money collected by the treasurer of state from the fee imposed by
division (G) of this section shall be deposited to the credit of the
state political subdivision obligations fund, which is hereby created
in the state treasury. Money credited to the fund shall be used
solely to pay the treasurer of state's direct and indirect costs
associated with purchasing and reselling obligations under division
(G) of this section.

(J)
As used in this section, "political subdivision" means a
county, township, municipal corporation, school district, or other
body corporate and politic responsible for governmental activities in
a geographic area smaller than that of the state.

(K)(1)
The treasurer of state and any entity issuing obligations referred to
in division (A)(14) of this section, which obligations require a
conditional liquidity requirement, may enter into an agreement
providing for the following:

(a)
The purchase of the obligations by the treasurer of state on terms
and subject to conditions set forth in the agreement;

(b)
Payment to the treasurer of state of a fee as consideration for the
agreement of the treasurer of state to purchase the obligations.

(2)
The treasurer of state shall not enter into agreements under division
(K)(1) of this section for obligations that, in the aggregate, exceed
ten per cent of the state's total average portfolio, as determined
and calculated by the treasurer of state.

(3)
For purposes of division (A)(14) of this section, an obligation is
rated in the four highest categories by at least one nationally
recognized statistical rating organization if either the debt
interest itself or the obligor of the debt interest is rated in the
four highest categories by at least one nationally recognized
statistical rating organization.

(4)
All money collected by the treasurer of state from the fee imposed by
division (K) of this section shall be deposited to the credit of the
state securities tender program fund, which is hereby created in the
state treasury. The amount of income from the state securities tender
program credited to the state securities tender program fund shall
not exceed one per cent of the average par value of obligations
subject to agreements under division (K)(1) of this section. All
other such income shall be credited to the general revenue fund. The
treasurer of state may use the state securities tender program fund
solely for operations of the office of the treasurer of state.

(L)(1)
The treasurer of state and a state university or college issuing
obligations under section 3345.12 of the Revised Code may enter into
an agreement providing for the following:

(a)
The purchase of those obligations by the treasurer of state pursuant
to division (A)(3)(a) of this section on terms and subject to
conditions set forth in the agreement;

(b)
The department of higher education to withhold, in the event the
state university or college does not pay bond service charges on the
obligations when due, appropriated funds allocated to the state
university or college in an amount sufficient to pay bond service
charges on the obligations, less any amounts deposited for that
purpose under the bond proceedings. Upon the request of the treasurer
of state, the department of higher education shall promptly pay to
the treasurer of state the amounts withheld.

(2)
For purposes of division (L)(1) of this section, "obligations,"
"state university or college," "bond service charges,"
and "bond proceedings" have the same meanings as in section
3345.12 of the Revised Code.

Sec.
135.18.
(A)
Each institution designated as a public depository and awarded public
deposits under sections 135.01 to 135.21 of the Revised Code, except
as provided in section
135.144
or
135.145
of the Revised Code, shall provide security for the repayment of all
public deposits by selecting one of the following methods:

(1)
Securing all uninsured public deposits of each public depositor
separately as set forth in divisions (B) to (J) of this section;

(2)
Securing all uninsured public deposits of every public depositor
pursuant to section 135.181 or 135.182 of the Revised Code, as
applicable, by establishing and pledging to the treasurer of state a
single pool of collateral for the benefit of every public depositor
at the public depository.

(B)
If a public depository elects to provide security pursuant to
division (A)(1) of this section, the public depository shall pledge
to the public depositor, as security for the repayment of all public
moneys deposited in the public depository during the period of
designation pursuant to an award made under sections 135.01 to 135.21
of the Revised Code, eligible securities of aggregate market value at
all times equal to at least one hundred five per cent of the total
amount of the public depositor's uninsured public deposits.

(C)
In order for a public depository to receive public moneys under this
section, the public depository and the public depositor shall first
execute an agreement that sets forth the entire arrangement among the
parties and that meets the requirements described in 12 U.S.C.
1823(e). In addition, the agreement shall authorize the public
depositor to obtain control of the collateral pursuant to division
(D) of section 1308.24 of the Revised Code.

(D)
The following securities or other obligations shall be eligible for
the purposes of this section:

(1)
Bonds, notes, or other obligations of the United States; or bonds,
notes, or other obligations guaranteed as to principal and interest
by the United States or those for which the faith of the United
States is pledged for the payment of principal and interest thereon,
by language appearing in the instrument specifically providing such
guarantee or pledge and not merely by interpretation or otherwise;

(2)
Bonds, notes, debentures, letters of credit, or other obligations or
securities issued by any federal government agency or
instrumentality, or the export-import bank of Washington; bonds,
notes, or other obligations guaranteed as to principal and interest
by the United States or those for which the faith of the United
States is pledged for the payment of principal and interest thereon,
by interpretation or otherwise and not by language appearing in the
instrument specifically providing such guarantee or pledge;

(3)
Obligations of or fully insured or fully guaranteed by the United
States or any federal government agency or instrumentality;

(4)
Obligations partially insured or partially guaranteed by any federal
agency or instrumentality;

(5)
Obligations of or fully guaranteed by the federal national mortgage
association, federal home loan mortgage corporation, federal farm
credit bank, or student loan marketing association;

(6)
Bonds and other obligations of this state;

(7)
Bonds and other obligations of any county, township, school district,
municipal corporation, or other legally constituted taxing
subdivision of this state, which is not at the time of such deposit,
in default in the payment of principal or interest on any of its
bonds or other obligations, for which the full faith and credit of
the issuing subdivision is pledged;

(8)
Bonds of other states of the United States which have not during the
ten years immediately preceding the time of such deposit defaulted in
payments of either interest or principal on any of their bonds;

(9)
Shares of no-load money market mutual funds consisting exclusively of
obligations described in division (D)(1) or (2) of this section and
repurchase agreements secured by such obligations;

(10)
A surety bond issued by a corporate surety licensed by the state and
authorized to issue surety bonds in this state pursuant to Chapter
3929. of the Revised Code, and qualified to provide surety bonds to
the federal government pursuant to 96 Stat. 1047 (1982), 31 U.S.C.A.
9304;

(11)
Bonds or other obligations of any county, municipal corporation, or
other legally constituted taxing subdivision of another state of the
United States, or of any instrumentality of such county, municipal
corporation, or other taxing subdivision, for which the full faith
and credit of the issuer is pledged and, at the time of purchase of
the bonds or other obligations, rated in one of the two highest
categories by at least one nationally recognized statistical rating
organization.

(E)
An institution designated as a public depository shall designate a
qualified trustee and place the eligible securities required by
division (D) of this section with the trustee for safekeeping. The
trustee shall hold the eligible securities in an account indicating
the public depositor's security interest in the securities. The
trustee shall report to the public depositor information relating to
the securities pledged to secure the public deposits in the manner
and frequency required by the public depositor.

(F)
The qualified trustee shall enter into a custodial agreement with the
public depositor and public depository in which the trustee agrees to
comply with entitlement orders originated by the public depositor
without further consent by the public depository or, in the case of
collateral held by the public depository in an account at a federal
reserve bank, the public depositor shall have the public depositor's
security interest marked on the books of the federal reserve bank
where the account for the collateral is maintained. If the public
depository fails to pay over any part of the public deposits made by
the public depositor therein as provided by law, the public depositor
shall give written notice of this failure to the qualified trustee
holding the securities pledged against its public deposits and, at
the same time, shall send a copy of this notice to the public
depository. Upon receipt of this notice, the trustee shall transfer
to the public depositor for sale, the securities that are necessary
to produce an amount equal to the public deposits made by the public
depositor and not paid over, less the portion of the deposits covered
by any federal deposit insurance, plus any accrued interest due on
the deposits. The public depositor shall sell any of the bonds or
other securities so transferred. When a sale of bonds or other
securities has been so made and upon payment to the public depositor
of the purchase money, the public depositor shall transfer such bonds
or securities whereupon the absolute ownership of such bonds or
securities shall pass to the purchasers. Any surplus after deducting
the amount due the public depositor and expenses of sale shall be
paid to the public depository.

(G)
When the public depository has placed eligible securities described
in division (D)(1) of this section with a trustee for safekeeping,
the public depository may at any time substitute or exchange eligible
securities described in division (D)(1) of this section having a
current market value equal to or greater than the current market
value of the securities then on deposit and for which they are to be
substituted or exchanged, without specific authorization from any
public depositor's governing board, boards, or treasurer of any such
substitution or exchange.

(H)
When the public depository has placed eligible securities described
in divisions (D)(2) to (9) of this section with a trustee for
safekeeping, the public depository may at any time substitute or
exchange eligible securities having a current market value equal to
or greater than the current market value of the securities then on
deposit and for which they are to be substituted or exchanged without
specific authorization of any public depositor's governing board,
boards, or treasurer of any such substitution or exchange only if one
of the following applies:

(1)
The public depositor has authorized the public depository to make
such substitution or exchange on a continuing basis during a
specified period without prior approval of each substitution or
exchange. The authorization may be effected by the public depositor
sending to the trustee a written notice stating that substitution may
be effected on a continuing basis during a specified period which
shall not extend beyond the end of the period of designation during
which the notice is given. The trustee may rely upon this notice and
upon the period of authorization stated therein and upon the period
of designation stated therein.

(2)
The public depository notifies the public depositor and the trustee
of an intended substitution or exchange, and the public depositor
does not object to the trustee as to the eligibility or market value
of the securities being substituted within three business days after
the date appearing on the notice of proposed substitution. The notice
to the public depositor and to the trustee shall be given in writing
and delivered electronically. The trustee may assume in any case that
the notice has been delivered to the public depositor. In order for
objections of the public depositor to be effective, receipt of the
objections must be acknowledged in writing by the trustee.

(3)
The public depositor gives written authorization for a substitution
or exchange of specific securities.

(I)
The public depository shall notify any public depositor of any
substitution or exchange under division (H)(1) or (2) of this
section.

(J)
Any federal reserve bank or branch thereof located in this state or
federal home loan bank, without compliance with Chapter 1111. of the
Revised Code and without becoming subject to any other law of this
state relative to the exercise by corporations of trust powers
generally, is qualified to act as trustee for the safekeeping of
securities, under this section. Any institution mentioned in section
135.03 or 135.32 of the Revised Code that holds a certificate of
qualification issued by the superintendent of financial institutions
or any institution complying with sections 1111.04, 1111.05, and
1111.06 of the Revised Code, is qualified to act as trustee for the
safekeeping of securities under this section, other than those
belonging to itself or to an affiliate as defined in section 1101.01
of the Revised Code.

Notwithstanding
the fact that a public depository is required to pledge eligible
securities in certain amounts to secure deposits of public moneys, a
trustee has no duty or obligation to determine the eligibility,
market value, or face value of any securities deposited with the
trustee by a public depository. This applies in all situations
including, without limitation, a substitution or exchange of
securities.

Any
charges or compensation of a designated trustee for acting as such
under this section shall be paid by the public depository and in no
event shall be chargeable to the state or the subdivision or to any
officer of the state or subdivision. The charges or compensation
shall not be a lien or charge upon the securities deposited for
safekeeping prior or superior to the rights to and interests in the
securities of the public depositor. The treasurer and the treasurer's
bonders or surety shall be relieved from any liability to the public
depositor or to the public depository for the loss or destruction of
any securities deposited with a qualified trustee pursuant to this
section.

Sec.
135.22.
(A)
For purposes of this section:

(1)
"Treasurer" has the same meaning as in section 135.01 of
the Revised Code, but does not include a county treasurer or the
treasurer of state. "Treasurer" includes any person whose
duties include making investment decisions with respect to the
investment or deposit of interim moneys.

(2)
"Subdivision" has the same meaning as in section 135.01 of
the Revised Code.

(B)
To enhance the background and working knowledge of treasurers in
investments, cash management, the collection of taxes, ethics, and in
any other subject area that the treasurer of state determines is
reasonably related to the duties of a treasurer, the treasurer of
state shall provide annual continuing education programs for
treasurers. A treasurer annually shall complete the continuing
education
programs

requirements

described
in this section, unless the treasurer annually
provides
a notice of
qualifies
for the
exemption
described in division (E) of this section.

(C)
The treasurer of state shall
determine

adopt
rules governing
the
manner, content, and length of the continuing education
programs

requirements

after
consultation with appropriate statewide organizations of local
government officials.

(D)
Upon successful completion of
a

any

continuing
education
program

credit
hours
required
by this section, the treasurer of
state

a
subdivision
shall

issue
a certificate indicating that the treasurer has successfully
completed the continuing education program prescribed by the
treasurer of state
retain
proof of attendance
.

The
treasurer of state shall forward to the auditor of state any
certificates issued pursuant to this division by the treasurer of
state. The auditor of state shall maintain in the auditor's records
any certificates forwarded by the treasurer of state pursuant to this
division.

As part of the auditor of state's audit of the subdivision conducted
in accordance with section 117.11 of the Revised Code, the auditor of
state shall report whether the treasurer is in compliance with this
section of the Revised Code.

(E)
Division (B) of this section does not apply to any treasurer
of
a subdivision
who

annually
provides a notice of exemption to the auditor of state. The notice
shall be certified by the treasurer of state and shall provide that
the treasurer is not subject to the continuing education requirements
set forth in division (B) of this section, because the treasurer

exclusively
utilizes active deposits or who
invests
or deposits public moneys in the following investments only:

(1)
Interim deposits pursuant to division (B)(3) of section 135.14 or
section
135.145

113.07

of
the Revised Code;

(2)
No-load money market mutual funds pursuant to division (B)(5) of
section 135.14 of the Revised Code;

(3)
The Ohio subdivision's fund pursuant to division (B)(6) of section
135.14 of the Revised Code.

(F)
In carrying out the duties required by this section, the treasurer of
state may charge the subdivision served by the treasurer a
registration

or annual

fee that will meet actual and necessary expenses in connection with
the training of the treasurer, including instruction fees, site
acquisition costs,
and

the
cost of course materials
,
and other costs of administering the continuing education program
.
Any necessary personal expenses of a treasurer incurred as a result
of attending the continuing education courses shall be borne by the
subdivision represented by the treasurer.

(G)
The treasurer of state may allow any other interested person to
attend any of the continuing education programs that are held
pursuant to this section, provided that before attending any such
continuing education program, the interested person has paid to the
treasurer of state the full registration
or
annual
fee
set for the continuing education program.

(H)
All funds collected pursuant to this section shall be paid into the
county treasurer education fund created pursuant to section 321.46 of
the Revised Code, and the actual and necessary expenses of the
treasurer of state in conducting the continuing education programs
required by this section shall be paid from this fund.

(I)
The treasurer of state
may

shall

adopt
reasonable rules not inconsistent with this section for the
implementation of this section.

Sec.
135.35.
(A)
The investing authority shall deposit or invest any part or all of
the county's inactive moneys and shall invest all of the money in the
county public library fund when required by section 135.352 of the
Revised Code. The following classifications of securities and
obligations are eligible for such deposit or investment:

(1)
United States treasury bills, notes, bonds, or any other obligation
or security issued by the United States treasury, any other
obligation guaranteed as to principal or interest by the United
States, or any book entry, zero-coupon United States treasury
security that is a direct obligation of the United States.

Nothing
in the classification of eligible securities and obligations set
forth in divisions (A)(2) to (10) of this section shall be construed
to authorize any investment in stripped principal or interest
obligations of such eligible securities and obligations.

(2)
Bonds, notes, debentures, or any other obligations or securities
issued by any federal government agency or instrumentality,
including, but not limited to, the federal national mortgage
association, federal home loan bank, federal farm credit bank,
federal home loan mortgage corporation, and government national
mortgage association. All federal agency securities shall be direct
issuances of federal government agencies or instrumentalities.

(3)
Time certificates of deposit or savings or deposit accounts,
including, but not limited to, passbook accounts, in any eligible
institution mentioned in section 135.32 of the Revised Code;

(4)
Bonds and other obligations of this state or the political
subdivisions of this state, provided the bonds or other obligations
of political subdivisions mature within ten years from the date of
settlement;

(5)
No-load money market mutual funds rated in the highest category at
the time of purchase by at least one nationally recognized
statistical rating organization or consisting exclusively of
obligations described in division (A)(1), (2), or (6) of section
135.143 of the Revised Code and repurchase agreements secured by such
obligations, provided that investments in securities described in
this division are made only through eligible institutions mentioned
in section 135.32 of the Revised Code;

(6)
The Ohio subdivision's fund as provided in section
135.45

113.07

of
the Revised Code;

(7)
Securities lending agreements with any eligible institution mentioned
in section 135.32 of the Revised Code that is a member of the federal
reserve system or federal home loan bank or with any recognized
United States government securities dealer meeting the description in
division (J)(1) of this section, under the terms of which agreements
the investing authority lends securities and the eligible institution
or dealer agrees to simultaneously exchange similar securities or
cash, equal value for equal value.

Securities
and cash received as collateral for a securities lending agreement
are not inactive moneys of the county or moneys of a county public
library fund. The investment of cash collateral received pursuant to
a securities lending agreement may be invested only in instruments
specified by the investing authority in the written investment policy
described in division (K) of this section.

(8)
Up to forty per cent of the county's total average portfolio in
either of the following investments:

(a)
Commercial paper notes issued by an entity that is defined in

division
(D) of section 1705.01 or division (E) of
section
1706.01 of the Revised Code and that has assets exceeding five
hundred million dollars, to which notes all of the following apply:

(i)
The notes are rated at the time of purchase in the highest
classification established by at least two nationally recognized
statistical rating organizations.

(ii)
The aggregate value of the notes does not exceed ten per cent of the
aggregate value of the outstanding commercial paper of the issuing
corporation.

(iii)
The notes mature not later than two hundred seventy days after
purchase.

(iv)
The investment in commercial paper notes of a single issuer shall not
exceed in the aggregate five per cent of interim moneys available for
investment at the time of purchase.

(b)
Bankers acceptances of banks that are insured by the federal deposit
insurance corporation and that mature not later than one hundred
eighty days after purchase.

No
investment shall be made pursuant to division (A)(8) of this section
unless the investing authority has completed additional training for
making the investments authorized by division (A)(8) of this section.
The type and amount of additional training shall be approved by the
treasurer of state and may be conducted by or provided under the
supervision of the treasurer of state.

(9)
Up to fifteen per cent of the county's total average portfolio in
notes issued by corporations that are incorporated under the laws of
the United States and that are operating within the United States, or
by depository institutions that are doing business under authority
granted by the United States or any state and that are operating
within the United States, provided both of the following apply:

(a)
The notes are rated in the three highest categories by at least two
nationally recognized statistical rating organizations at the time of
purchase.

(b)
The notes mature not later than three years after purchase.

(10)
Debt interests rated at the time of purchase in the three highest
categories by two nationally recognized statistical rating
organizations and issued by foreign nations diplomatically recognized
by the United States government. All interest and principal shall be
denominated and payable in United States funds. The investments made
under division (A)(10) of this section shall not exceed in the
aggregate two per cent of a county's total average portfolio.

The
investing authority shall invest under division (A)(10) of this
section in a debt interest issued by a foreign nation only if the
debt interest is backed by the full faith and credit of that foreign
nation, there is no prior history of default, and the debt interest
matures not later than five years after purchase. For purposes of
division (A)(10) of this section, a debt interest is rated in the
three highest categories by two nationally recognized statistical
rating organizations if either the debt interest itself or the issuer
of the debt interest is rated, or is implicitly rated, at the time of
purchase in the three highest categories by two nationally recognized
statistical rating organizations.

(11)
A current unpaid or delinquent tax line of credit authorized under
division (G) of section 135.341 of the Revised Code, provided that
all of the conditions for entering into such a line of credit under
that division are satisfied, or bonds and other obligations of a
county land reutilization corporation organized under Chapter 1724.
of the Revised Code, if the county land reutilization corporation is
located wholly or partly within the same county as the investing
authority.

(B)
Nothing in the classifications of eligible obligations and securities
set forth in divisions (A)(1) to (10) of this section shall be
construed to authorize investment in a derivative, and no investing
authority shall invest any county inactive moneys or any moneys in a
county public library fund in a derivative. For purposes of this
division, "derivative" means a financial instrument or
contract or obligation whose value or return is based upon or linked
to another asset or index, or both, separate from the financial
instrument, contract, or obligation itself. Any security, obligation,
trust account, or other instrument that is created from an issue of
the United States treasury or is created from an obligation of a
federal agency or instrumentality or is created from both is
considered a derivative instrument. An eligible investment described
in this section with a variable interest rate payment, based upon a
single interest payment or single index comprised of other eligible
investments provided for in division (A)(1) or (2) of this section,
is not a derivative, provided that such variable rate investment has
a maximum maturity of two years. A treasury inflation-protected
security shall not be considered a derivative, provided the security
matures not later than five years after purchase.

(C)
Except as provided in division (A)(4) or (D) of this section, any
investment made pursuant to this section must mature within five
years from the date of settlement, unless the investment is matched
to a specific obligation or debt of the county or to a specific
obligation or debt of a political subdivision of this state, and the
investment is specifically approved by the investment advisory
committee.

(D)
The investing authority may also enter into a written repurchase
agreement with any eligible institution mentioned in section 135.32
of the Revised Code or any eligible securities dealer pursuant to
division (J) of this section, under the terms of which agreement the
investing authority purchases and the eligible institution or dealer
agrees unconditionally to repurchase any of the securities listed in
divisions (D)(1) to (5), except letters of credit described in
division (D)(2), of section 135.18 of the Revised Code. The market
value of securities subject to an overnight written repurchase
agreement must exceed the principal value of the overnight written
repurchase agreement by at least two per cent. A written repurchase
agreement must exceed the principal value of the overnight written
repurchase agreement, by at least two per cent. A written repurchase
agreement shall not exceed thirty days, and the market value of
securities subject to a written repurchase agreement must exceed the
principal value of the written repurchase agreement by at least two
per cent and be marked to market daily. All securities purchased
pursuant to this division shall be delivered into the custody of the
investing authority or the qualified custodian of the investing
authority or an agent designated by the investing authority. A
written repurchase agreement with an eligible securities dealer shall
be transacted on a delivery versus payment basis. The agreement shall
contain the requirement that for each transaction pursuant to the
agreement the participating institution shall provide all of the
following information:

(1)
The par value of the securities;

(2)
The type, rate, and maturity date of the securities;

(3)
A numerical identifier generally accepted in the securities industry
that designates the securities.

No
investing authority shall enter into a written repurchase agreement
under the terms of which the investing authority agrees to sell
securities owned by the county to a purchaser and agrees with that
purchaser to unconditionally repurchase those securities.

(E)
No investing authority shall make an investment under this section,
unless the investing authority, at the time of making the investment,
reasonably expects that the investment can be held until its
maturity. The investing authority's written investment policy shall
specify the conditions under which an investment may be redeemed or
sold prior to maturity.

(F)
No investing authority shall pay a county's inactive moneys or moneys
of a county public library fund into a fund established by another
subdivision, treasurer, governing board, or investing authority, if
that fund was established by the subdivision, treasurer, governing
board, or investing authority for the purpose of investing or
depositing the public moneys of other subdivisions. This division
does not apply to the payment of public moneys into either of the
following:

(1)
The Ohio subdivision's fund pursuant to division (A)(6) of this
section;

(2)
A fund created solely for the purpose of acquiring, constructing,
owning, leasing, or operating municipal utilities pursuant to the
authority provided under section 715.02 of the Revised Code or
Section 4 of Article XVIII, Ohio Constitution.

For
purposes of division (F) of this section, "subdivision"
includes a county.

(G)
The use of leverage, in which the county uses its current investment
assets as collateral for the purpose of purchasing other assets, is
prohibited. The issuance of taxable notes for the purpose of
arbitrage is prohibited. Contracting to sell securities not owned by
the county, for the purpose of purchasing such securities on the
speculation that bond prices will decline, is prohibited.

(H)
Any securities, certificates of deposit, deposit accounts, or any
other documents evidencing deposits or investments made under
authority of this section shall be issued in the name of the county
with the county treasurer or investing authority as the designated
payee. If any such deposits or investments are registrable either as
to principal or interest, or both, they shall be registered in the
name of the treasurer.

(I)
The investing authority shall be responsible for the safekeeping of
all documents evidencing a deposit or investment acquired under this
section, including, but not limited to, safekeeping receipts
evidencing securities deposited with a qualified trustee, as provided
in section 135.37 of the Revised Code, and documents confirming the
purchase of securities under any repurchase agreement under this
section shall be deposited with a qualified trustee, provided,
however, that the qualified trustee shall be required to report to
the investing authority, auditor of state, or an authorized outside
auditor at any time upon request as to the identity, market value,
and location of the document evidencing each security, and that if
the participating institution is a designated depository of the
county for the current period of designation, the securities that are
the subject of the repurchase agreement may be delivered to the
treasurer or held in trust by the participating institution on behalf
of the investing authority.

Upon
the expiration of the term of office of an investing authority or in
the event of a vacancy in the office for any reason, the officer or
the officer's legal representative shall transfer and deliver to the
officer's successor all documents mentioned in this division for
which the officer has been responsible for safekeeping. For all such
documents transferred and delivered, the officer shall be credited
with, and the officer's successor shall be charged with, the amount
of moneys evidenced by such documents.

(J)(1)
All investments, except for investments in securities described in
divisions (A)(5), (6), and (11) of this section, shall be made only
through a member of the financial industry regulatory authority
(FINRA), through a bank, savings bank, or savings and loan
association regulated by the superintendent of financial
institutions, or through an institution regulated by the comptroller
of the currency, federal deposit insurance corporation, or board of
governors of the federal reserve system.

(2)
Payment for investments shall be made only upon the delivery of
securities representing such investments to the treasurer, investing
authority, or qualified trustee. If the securities transferred are
not represented by a certificate, payment shall be made only upon
receipt of confirmation of transfer from the custodian by the
treasurer, governing board, or qualified trustee.

(K)(1)
Except as otherwise provided in division (K)(2) of this section, no
investing authority shall make an investment or deposit under this
section, unless there is on file with the auditor of state a written
investment policy approved by the investing authority. The policy
shall require that all entities conducting investment business with
the investing authority shall sign the investment policy of that
investing authority. All brokers, dealers, and financial
institutions, described in division (J)(1) of this section,
initiating transactions with the investing authority by giving advice
or making investment recommendations shall sign the investing
authority's investment policy thereby acknowledging their agreement
to abide by the policy's contents. All brokers, dealers, and
financial institutions, described in division (J)(1) of this section,
executing transactions initiated by the investing authority, having
read the policy's contents, shall sign the investment policy thereby
acknowledging their comprehension and receipt.

(2)
If a written investment policy described in division (K)(1) of this
section is not filed on behalf of the county with the auditor of
state, the investing authority of that county shall invest the
county's inactive moneys and moneys of the county public library fund
only in time certificates of deposits or savings or deposit accounts
pursuant to division (A)(3) of this section, no-load money market
mutual funds pursuant to division (A)(5) of this section, or the Ohio
subdivision's fund pursuant to division (A)(6) of this section.

(L)(1)
The investing authority shall establish and maintain an inventory of
all obligations and securities acquired by the investing authority
pursuant to this section. The inventory shall include a description
of each obligation or security, including type, cost, par value,
maturity date, settlement date, and any coupon rate.

(2)
The investing authority shall also keep a complete record of all
purchases and sales of the obligations and securities made pursuant
to this section.

(3)
The investing authority shall maintain a monthly portfolio report and
issue a copy of the monthly portfolio report describing such
investments to the county investment advisory committee, detailing
the current inventory of all obligations and securities, all
transactions during the month that affected the inventory, any income
received from the obligations and securities, and any investment
expenses paid, and stating the names of any persons effecting
transactions on behalf of the investing authority.

(4)
The monthly portfolio report shall be a public record and available
for inspection under section 149.43 of the Revised Code.

(5)
The inventory and the monthly portfolio report shall be filed with
the board of county commissioners.
The
monthly portfolio report also shall be filed with the treasurer of
state.

(M)
An investing authority may enter into a written investment or deposit
agreement that includes a provision under which the parties agree to
submit to nonbinding arbitration to settle any controversy that may
arise out of the agreement, including any controversy pertaining to
losses of public moneys resulting from investment or deposit. The
arbitration provision shall be set forth entirely in the agreement,
and the agreement shall include a conspicuous notice to the parties
that any party to the arbitration may apply to the court of common
pleas of the county in which the arbitration was held for an order to
vacate, modify, or correct the award. Any such party may also apply
to the court for an order to change venue to a court of common pleas
located more than one hundred miles from the county in which the
investing authority is located.

For
purposes of this division, "investment or deposit agreement"
means any agreement between an investing authority and a person,
under which agreement the person agrees to invest, deposit, or
otherwise manage, on behalf of the investing authority, a county's
inactive moneys or moneys in a county public library fund, or agrees
to provide investment advice to the investing authority.

(N)(1)
An investment held in the county portfolio on September 27, 1996,
that was a legal investment under the law as it existed before
September 27, 1996, may be held until maturity.

(2)
An investment held in the county portfolio on September 10, 2012,
that was a legal investment under the law as it existed before
September 10, 2012, may be held until maturity.

Sec.
135.451.
The
Ohio history connection and the capitol square review and advisory
board shall be eligible to pay any of their moneys into the Ohio
subdivision's fund, to be invested by the treasurer of state in the
same manner and subject to the same terms and conditions as public
moneys of subdivisions paid into the fund under section
135.45

113.07

of
the Revised Code.

Sec.
135.71.
(A)
The general assembly finds that making homeownership more attainable
is an important part of fostering a robust and lasting population
across the state. However, individuals often struggle to accumulate
the financial resources needed to purchase a home. Accordingly, it is
declared to be the public policy of the state through the
homeownership savings linked deposit program to make available
premium rate savings accounts for the down payment and closing costs
associated with the purchase of a home.

(B)
An eligible participant for the homeownership savings linked deposit
program is an individual who is a resident of this state, or a member
of the uniformed services, on active duty assignment, who is a
resident of this state via a residency or domicile election in
accordance with 50 U.S.C. 4001, and has applied for a homeownership
savings account at an eligible savings institution. A member of the
uniformed services, who is an eligible participant, may apply for a
homeownership savings account at an eligible savings institution on
or after the date affixed to the permanent change of station orders.
As used in this division, "active duty" and "uniformed
services" have the meanings defined in 10 U.S.C. 101.

(C)
An eligible participant shall certify on the application that the
funds in the homeownership savings account shall be used exclusively
for eligible home costs.

(D)
A homeownership savings account shall be owned by not more than one
eligible participant and an eligible participant shall hold not more
than one homeownership savings account per program period at any
eligible savings institution.

(E)
The treasurer of state shall report to the tax commissioner any
information in the treasurer of state's possession deemed necessary
by the tax commissioner to properly administer section 5747.85 of the
Revised Code.

(F)
Not later than January 31, 2027, the treasurer of state and the tax
commissioner shall issue a report regarding the efficacy of the
homeownership savings linked deposit program. The report shall
include all of the following:

(1)
The number of homeownership savings accounts created;

(2)
The number of participating eligible savings institutions;

(3)
The total amount contributed into the accounts;

(4)
The average
yield

premium
savings rate paid
on
the accounts;

(5)
Any other information the treasurer of state or tax commissioner
deems relevant.

The
report shall be delivered to the governor, the speaker of the house
of representatives, and the president of the senate.

Sec.
151.01.
(A)
As used in sections 151.01 to 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, including but not limited
to, interest from the date of their issuance 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, 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, 2q, 2s, or 15 of Article
VIII, Ohio Constitution, and pursuant to sections 151.01 to 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 higher education improvement taxable fund created by division (G)
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 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, the third frontier research and
development taxable bond fund created by section 184.191 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, 2q, 2s, 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 151.11 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, 2p, and 2s of
Article VIII, Ohio Constitution," "paying costs of
conservation projects as authorized by Sections 2o and 2q of Article
VIII, Ohio Constitution," "paying costs of revitalization
projects as authorized by Sections 2o and 2q 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 151.11 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 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, 2q, 2s, or 15, and Section
17, of Article VIII, Ohio Constitution and sections 151.01 to 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 151.11 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, 2q, 2s, or 15 of Article VIII, Ohio
Constitution, and section 151.03, 151.04, 151.05, 151.06, 151.07,
151.08, 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 151.11 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, 2q, 2s, or
15 of Article VIII, Ohio Constitution, and sections 151.01 to 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 151.11 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

113.07

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 151.11 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.
164.09.
(A)
The issuer is authorized to issue and sell, as provided in this
section and in amounts from time to time authorized by the general
assembly, general obligations of this state for the purpose of
financing or assisting in the financing of the costs of public
infrastructure capital improvements for local subdivisions. The full
faith and credit, revenues, and taxing power of the state are and
shall be pledged to the timely payment of bond service charges on
outstanding obligations, all in accordance with Section 2k or 2m of
Article VIII, Ohio Constitution and sections 164.09 to 164.12 of the
Revised Code, excluding from that pledge fees, excises, or taxes
relating to the registration, operation, or use of vehicles on the
public highways, or to fuels used for propelling those vehicles, and
so long as such obligations are outstanding there shall be levied and
collected excises and taxes, excluding those excepted above, in
amounts sufficient to pay the bond service charges on such
obligations and costs relating to credit facilities.

(B)(1)
The total principal amount of obligations issued pursuant to Section
2k of Article VIII, Ohio Constitution shall not exceed one billion
two hundred million dollars, and not more than one hundred twenty
million dollars in principal amount of obligations may be issued in
any calendar year, all determined as provided in sections 164.09 to
164.12 of the Revised Code.

(2)
The total principal amount of obligations issued for the purposes of
this section pursuant to Section 2m of Article VIII, Ohio
Constitution, shall not exceed one billion two hundred million
dollars. Not more than one hundred twenty million dollars in
principal amount of such obligations, plus the principal amount of
such obligations that in any prior fiscal years could have been but
were not issued within the one-hundred-twenty-million-dollar fiscal
year limit, may be issued in any fiscal year. No obligations shall be
issued for the purposes of this section pursuant to Section 2m of
Article VIII, Ohio Constitution, until at least one billion one
hundred ninety-nine million five hundred thousand dollars aggregate
principal amount of obligations have been issued pursuant to Section
2k of Article VIII, Ohio Constitution. The amounts specified under
division (B)(2) of this section shall be determined as provided in
sections 164.09 to 164.12 of the Revised Code.

(C)
Each issue of obligations shall be authorized by order of the issuer.
The bond proceedings shall provide for the principal amount or
maximum principal amount of obligations of an issue, and shall
provide for or authorize the manner or agency for determining the
principal maturity or maturities, not exceeding the earlier of thirty
years from the date of issuance of the particular obligations or
thirty years from the date the debt represented by the particular
obligations was originally contracted, the interest rate or rates,
the date of and the dates of payment of interest on the obligations,
their denominations, and the establishment within or without the
state of a place or places of payment of bond service charges.
Sections 9.96 and 9.98 to 9.983 of the Revised Code are applicable to
the obligations. The purpose of the obligations may be stated in the
bond proceedings as "financing or assisting in the financing of
local subdivisions capital improvement projects."

(D)
The proceeds of the obligations, except for any portion to be
deposited in special funds, or in escrow funds for the purpose of
refunding outstanding obligations, all as may be provided in the bond
proceedings, shall be deposited to the state capital improvements
fund established by section 164.08 of the Revised Code.

(E)
The issuer may appoint paying agents, bond registrars, securities
depositories, and transfer agents, and may retain the services of
financial advisers and accounting experts, and retain or contract for
the services of marketing, remarketing, indexing, and administrative
agents, other consultants, and independent contractors, including
printing services, as are necessary in the issuer's judgment to carry
out sections 164.01 to 164.12 of the Revised Code. Financing costs
are payable, as provided in the bond proceedings, from the proceeds
of the obligations, from special funds, or from other moneys
available for the purpose.

(F)
The bond proceedings, including any trust agreement, may contain
additional provisions customary or appropriate to the financing or to
the obligations or to particular obligations, including but not
limited to:

(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
at such price or prices and under such terms and conditions as are
provided in the bond proceedings;

(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, without
regard to Chapter 131. or 135. of the Revised Code, but subject to
any special provisions of this section with respect to particular
funds or moneys, and provided that any bank or trust company that
acts as a depository of any moneys in special funds may furnish such
indemnifying bonds or may pledge such securities as required by the
issuer;

(4)
Any or every provision of the bond proceedings binding upon the
issuer and such state agency or local subdivision, officer, board,
commission, authority, agency, department, or other person or body as
may from time to time have the authority under law to take such
actions as may be necessary to perform all or any part of the duty
required by such provision;

(5)
The maintenance of each pledge, any trust agreement, or other
instrument comprising part of the bond proceedings until the state
has fully paid or provided for the payment of the bond service
charges 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 any other agreement of the issuer made as a part
of a contract under which the obligations were issued or secured, the
enforcement of such payments or agreements by mandamus, suit in
equity, action at law, or any combination of the foregoing;

(7)
The rights and remedies of the holders of obligations and of the
trustee under any trust agreement, and provisions for protecting and
enforcing them, including limitations on rights of individual holders
of obligations;

(8)
The replacement of any obligations that become mutilated or are
destroyed, lost, or stolen;

(9)
Provision for the funding, refunding, or advance refunding or other
provision for payment of obligations which will then no longer be
outstanding for purposes of this section or of the bond proceedings;

(10)
Any provision that may be made in bond proceedings or a trust
agreement, including provision for amendment of the bond proceedings;

(11)
Such other provisions as the issuer determines, including
limitations, conditions, or qualifications relating to any of the
foregoing;

(12)
Any other or additional agreements with the holders of the
obligations relating to the obligations or the security for the
obligations.

(G)
The great seal of the state or a facsimile of that seal may be
affixed to or printed on the obligations. The obligations requiring
signature by the issuer shall be signed by or bear the facsimile
signature of the issuer as provided in the bond proceedings. Any
obligations may be signed by the person who, on the date of
execution, is the authorized signer although on the date of such
obligations such person was not the issuer. In case the person whose
signature or a facsimile of whose signature appears on any obligation
ceases to be the issuer before delivery of the obligation, such
signature or facsimile is nevertheless valid and sufficient for all
purposes as if the person had remained the member until such
delivery, and in case the seal to be affixed to or printed on
obligations has been changed after the seal has been affixed to or a
facsimile of the seal has been printed on the obligations, that seal
or facsimile seal shall continue to be sufficient as to those
obligations and obligations issued in substitution or exchange
therefor.

(H)
The obligations are negotiable instruments and securities under
Chapter 1308. of the Revised Code, subject to the provisions of the
bond proceedings as to registration. Obligations may be issued in
coupon or in fully registered form, or both, as the issuer
determines. Provision may be made for the registration of any
obligations with coupons attached as to principal alone or as to both
principal and interest, their exchange for obligations so registered,
and for the conversion or reconversion into obligations with coupons
attached of any obligations registered as to both principal and
interest, and for reasonable charges for such registration, exchange,
conversion, and reconversion. Pending preparation of definitive
obligations, the issuer may issue interim receipts or certificates
which shall be exchanged for such definitive obligations.

(I)
Obligations may be sold at public sale or at private sale, and at
such price at, above, or below par, as determined by the issuer in
the bond proceedings.

(J)
In the discretion of the issuer, obligations may be secured
additionally by a trust agreement between the state and a corporate
trustee which may be any trust company or bank having a place of
business within the state. Any trust agreement may contain the order
authorizing the issuance of the obligations, any provisions that may
be contained in the bond proceedings, and other provisions that are
customary or appropriate in an agreement of the type.

(K)
Except to the extent that their rights are restricted by the bond
proceedings, any holder of obligations, or a trustee under the bond
proceedings, may by any suitable form of legal proceedings protect
and enforce any rights under the laws of this state or granted by the
bond proceedings. Such rights include the right to compel the
performance of all duties of the issuer and the state. Each duty of
the issuer and the issuer's employees, and of each state agency and
local public entity and its officers, members, or employees,
undertaken pursuant to the bond proceedings, is hereby established as
a duty of the issuer, and of each such agency, local subdivision,
officer, member, or employee having authority to perform such duty,
specifically enjoined by the law and resulting from an office, trust,
or station within the meaning of section 2731.01 of the Revised Code.
The persons who are at the time the issuer, or the issuer's
employees, are not liable in their personal capacities on any
obligations or any agreements of or with the issuer relating to
obligations or under the bond proceedings.

(L)
Obligations are lawful investments for banks, societies for savings,
savings and loan associations, deposit guarantee associations, 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 political subdivisions and taxing districts of this
state, the commissioners of the sinking fund, the administrator of
workers' compensation, 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
thereto by any state agency with respect to investments by them, and
are also acceptable as security for the deposit of public moneys.

(M)
Unless otherwise provided in any applicable bond proceedings, moneys
to the credit of or in the special funds established by or pursuant
to this section may be invested by or on behalf of the issuer only in
notes, bonds, or other direct obligations of the United States or of
any agency or instrumentality of the United States, in obligations of
this state or any political subdivision of this state, in
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, in the Ohio subdivision's fund established pursuant to
section
135.45

113.07

of
the Revised Code, in no-front-end-load money market mutual funds
consisting exclusively of direct obligations of the United States or
of an agency or instrumentality of the United States, and in
repurchase agreements, including those issued by any fiduciary,
secured by direct obligations of the United States or an agency or
instrumentality of the United States, and in collective investment
funds established in accordance with section 1111.14 of the Revised
Code and consisting exclusively of direct obligations of the United
States or of an agency or instrumentality of the United States,
notwithstanding division (A)(1)(c) of that section. The income from
investments shall be credited to such special funds or otherwise as
the issuer determines in the bond proceedings, and the investments
may be sold or exchanged at such times as the issuer determines or
authorizes.

(N)
Unless otherwise provided in any applicable bond proceedings, moneys
to the credit of or in a special fund shall be disbursed on the order
of the issuer, provided that no such order is required for the
payment from the bond service fund or other special fund when due of
bond service charges or required payments under credit facilities.

(O)
The issuer may covenant in the bond proceedings, and any such
covenants 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, so long as any obligations are
outstanding in accordance with their terms, shall maintain statutory
authority for and cause to be charged and collected taxes, excises,
and other receipts of the state so that the receipts to the bond
service fund shall be sufficient in amounts to meet bond service
charges and for the establishment and maintenance of any reserves and
other requirements, including payment of financing costs, provided
for in the bond proceedings.

(P)
The obligations, and the transfer of, and the interest and other
income from, including any profit made on the sale, transfer, or
other disposition of, the obligations shall at all times be free from
taxation, direct or indirect, within the state.

(Q)
Unless a judicial action or proceeding challenging the validity of
obligations is commenced by personal service on the treasurer of
state prior to the initial delivery of an issue of the obligations,
the obligations of that issue and the bond proceedings pertaining to
that issue are incontestable and those obligations shall be
conclusively considered to be and to have been issued, secured,
payable, sold, executed, and delivered, and the bond proceedings
relating to them taken, in conformity with law if all of the
following apply to the obligations:

(1)
They state that they are issued under the provisions of this section
and comply on their face with those provisions;

(2)
They are issued within the limitations prescribed by this section;

(3)
Their purchase price has been paid in full;

(4)
They state that all the bond proceedings were held in compliance with
law, which statement creates a conclusive presumption that the bond
proceedings were held in compliance with all laws, including section
121.22 of the Revised Code, where applicable, and rules.

(R)
This section applies only with respect to obligations issued and
delivered before September 30, 2000.

Sec.
183.51.
(A)
As used in this section and in the applicable bond proceedings unless
otherwise provided:

(1)
"Bond proceedings" means the resolutions, orders,
indentures, purchase and sale and trust and other agreements
including any amendments or supplements to them, 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 bond service fund created in
the bond proceedings for the obligations.

(3)
"Capital facilities" means, as applicable, capital
facilities or projects as referred to in section 151.03 or 151.04 of
the Revised Code.

(4)
"Consent decree" means the consent decree and final
judgment entered November 25, 1998, in the court of common pleas of
Franklin county, Ohio, as the same may be amended or supplemented
from time to time.

(5)
"Cost of capital facilities" has the same meaning as in
section 151.01 of the Revised Code, as applicable.

(6)
"Credit enhancement facilities," "financing costs,"
and "interest" or "interest equivalent" have the
same meanings as in section 133.01 of the Revised Code.

(7)
"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.

(8)
"Improvement fund" means, as applicable, the school
building program assistance fund created in section 3318.25 of the
Revised Code and the higher education improvement fund created in
section 154.21 of the Revised Code.

(9)
"Issuing authority" means the buckeye tobacco settlement
financing authority created in section 183.52 of the Revised Code.

(10)
"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.

(11)
"Obligations" means bonds, notes, or other evidences of
obligation of the issuing authority, including any appertaining
interest coupons, issued by the issuing authority under this section
and Section 2i of Article VIII, Ohio Constitution, for the purpose of
providing funds to the state, in exchange for the assignment and sale
described in division (B) of this section, for the purpose of paying
costs of capital facilities for: (a) housing branches and agencies of
state government limited to facilities for a system of common schools
throughout the state and (b) state-supported or state-assisted
institutions of higher education.

(12)
"Pledged receipts" means, as and to the extent provided for
in the applicable bond proceedings:

(a)
Pledged tobacco settlement receipts;

(b)
Accrued interest received from the sale of obligations;

(c)
Income from the investment of the special funds;

(d)
Additional or any other specific revenues or receipts lawfully
available to be pledged, and pledged, pursuant to the bond
proceedings, including but not limited to amounts received under
credit enhancement facilities, to the payment of debt service.

(13)
"Pledged tobacco settlement receipts" means all amounts
received by the issuing authority pursuant to division (B) of this
section.

(14)
"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 issuing authority 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 original face amount and not
its accreted value, 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 in or for pursuant to
the bond proceedings.

(15)
"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" does not include any improvement fund or investment
earnings on amounts in any improvement fund, or other funds created
by the bond proceedings that are not stated by those proceedings to
be special funds.

(B)
The state may assign and sell to the issuing authority, and the
issuing authority may accept and purchase, all or a portion of the
amounts to be received by the state under the tobacco master
settlement agreement for a purchase price payable by the issuing
authority to the state consisting of the net proceeds of obligations
and any residual interest, if any. Any such assignment and sale shall
be irrevocable in accordance with its terms during the period any
obligations secured by amounts so assigned and sold are outstanding
under the applicable bond proceedings, and shall constitute a
contractual obligation to the holders or owners of those obligations.
Any such assignment and sale shall also be treated as an absolute
transfer and true sale for all purposes, and not as a pledge or other
security interest. The characterization of any such assignment and
sale as a true sale and absolute transfer shall not be negated or
adversely affected by only a portion of the amounts to be received
under the tobacco master settlement agreement being transferred, the
acquisition or retention by the state of a residual interest, the
participation of any state officer or employee as a member or officer
of, or providing staff support to, the issuing authority, any
responsibility of an officer or employee of the state for collecting
the amounts to be received under the tobacco master settlement
agreement or otherwise enforcing that agreement or retaining any
legal title to or interest in any portion of the amounts to be
received under that agreement for the purpose of these collection
activities, any characterization of the issuing authority or its
obligations for purposes of accounting, taxation, or securities
regulation, or by any other factors whatsoever. A true sale shall
exist under this section regardless of whether the issuing authority
has any recourse against the state or any other term of the bond
proceedings or the treatment or characterization of the transfer as a
financing for any purpose. Upon and following the assignment and
sale, the state shall not have any right, title, or interest in the
portion of the receipts under the tobacco master settlement agreement
so assigned and sold, other than any residual interest that may be
described in the applicable bond proceedings for those obligations,
and that portion, if any, shall be the property of the issuing
authority and not of the state, and shall be paid directly to the
issuing authority, and shall be owned, received, held, and disbursed
by the issuing authority and not by the state.

The
state may covenant, pledge, and agree in the bond proceedings, with
and for the benefit of the issuing authority, the holders and owners
of obligations, and providers of any credit enhancement facilities,
that it shall: (1) maintain statutory authority for, and cause to be
collected and paid directly to the issuing authority or its assignee,
the pledged receipts, (2) enforce the rights of the issuing authority
to receive the receipts under the tobacco master settlement agreement
assigned and sold to the issuing authority, (3) not materially impair
the rights of the issuing authority to fulfill the terms of its
agreements with the holders or owners of outstanding obligations
under the bond proceedings, (4) not materially impair the rights and
remedies of the holders or owners of outstanding obligations or
materially impair the security for those outstanding obligations, and
(5) enforce Chapter 1346. of the Revised Code, the tobacco master
settlement agreement, and the consent decree to effectuate the
collection of the pledged tobacco settlement receipts. The bond
proceedings may provide or authorize the manner for determining
material impairment of the security for any outstanding obligations,
including by assessing and evaluating the pledged receipts in the
aggregate.

As
further provided for in division (H) of this section, the bond
proceedings may also include such other covenants, pledges, and
agreements by the state to protect and safeguard the security and
rights of the holders and owners of the obligations, and of the
providers of any credit enhancement facilities, including, without
limiting the generality of the foregoing, any covenant, pledge, or
agreement customary in transactions involving the issuance of
securities the debt service on which is payable from or secured by
amounts received under the tobacco master settlement agreement.
Notwithstanding any other provision of law, any covenant, pledge, and
agreement of the state, if and when made in the bond proceedings,
shall be controlling and binding upon, and enforceable against the
state in accordance with its terms for so long as any obligations are
outstanding under the applicable bond proceedings. The bond
proceedings may also include limitations on the remedies available to
the issuing authority, the holders and owners of the obligations, and
the providers of any credit enhancement facilities, including,
without limiting the generality of the foregoing, a provision that
those remedies may be limited to injunctive relief in circumstances
where there has been no prior determination by a court of competent
jurisdiction that the state has not enforced Chapter 1346. of the
Revised Code, the tobacco master settlement agreement, or the consent
decree as may have been covenanted or agreed in the bond proceedings
under division (B)(5) of this section.

Nothing
in this section or the bond proceedings shall preclude or limit, or
be construed to preclude or limit, the state from regulating or
authorizing or permitting the regulation of smoking or from taxing
and regulating the sale of cigarettes or other tobacco products, or
from defending or prosecuting cases or other actions relating to the
sale or use of cigarettes or other tobacco products. Except as
otherwise may be agreed in writing by the attorney general, nothing
in this section or the bond proceedings shall modify or limit, or be
construed to modify or limit, the responsibility, power, judgment,
and discretion of the attorney general to protect and discharge the
duties, rights, and obligations of the state under the tobacco master
settlement agreement, the consent decree, or Chapter 1346. of the
Revised Code.

The
governor and the director of budget and management, in consultation
with the attorney general, on behalf of the state, and any member or
officer of the issuing authority as authorized by that issuing
authority, on behalf of the issuing authority, may take any action
and execute any documents, including any purchase and sale
agreements, necessary to effect the assignment and sale and the
acceptance of the assignment and title to the receipts including,
providing irrevocable direction to the escrow agent acting under the
tobacco master settlement agreement to transfer directly to the
issuing authority the amounts to be received under that agreement
that are subject to such assignment and sale. Any purchase and sale
agreement or other bond proceedings may contain the terms and
conditions established by the state and the issuing authority to
carry out and effectuate the purposes of this section, including,
without limitation, covenants binding the state in favor of the
issuing authority and its assignees and the owners of the
obligations. Any such purchase and sale agreement shall be sufficient
to effectuate such purchase and sale without regard to any other laws
governing other property sales or financial transactions by the
state.

Not
later than two years following the date on which there are no longer
any obligations outstanding under the bond proceedings, all assets of
the issuing authority shall vest in the state, the issuing authority
shall execute any necessary assignments or instruments, including any
assignment of any right, title, or ownership to the state for receipt
of amounts under the tobacco master settlement agreement, and the
issuing authority shall be dissolved.

(C)
The issuing authority is authorized to issue and to sell obligations
as provided in this section. The aggregate principal amount of
obligations issued under this section shall not exceed six billion
dollars, exclusive of obligations issued under division (M)(1) of
this section to refund, renew, or advance refund other obligations
issued or incurred. At least seventy-five per cent of the aggregate
net proceeds of the obligations issued under the authority of this
section, exclusive of obligations issued to refund, renew, or advance
refund other obligations, shall be paid to the state for deposit into
the school building program assistance fund created in section
3318.25 of the Revised Code.

(D)
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 fiftieth calendar year after the
year of issuance of the particular obligations or of the fiftieth
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 the obligations.

The
purpose of the obligations may be stated in the bond proceedings in
general terms, such as, as applicable, "paying costs of capital
facilities for a system of common schools" and "paying
costs of facilities for state-supported and state-assisted
institutions of higher education." Unless otherwise provided in
the bond proceedings or in division (C) of this section, the net
proceeds from the issuance of the obligations shall be paid to the
state for deposit into the applicable improvement fund. In addition
to the investments authorized in Chapter 135. of the Revised Code,
the net proceeds held in an improvement fund may be invested by the
treasurer of state in guaranteed investment contracts with providers
rated at the time of any investment in the three highest rating
categories by two nationally recognized rating agencies, all subject
to the terms and conditions set forth in those agreements or the bond
proceedings. Notwithstanding anything to the contrary in Chapter
3318. of the Revised Code, net proceeds of obligations deposited into
the school building program assistance fund created in section
3318.25 of the Revised Code may be used to pay basic project costs
under that chapter at the times determined by the Ohio facilities
construction commission without regard to whether those expenditures
are in proportion to the state's and the school district's respective
shares of that basic project cost; provided that this shall not
result in any change in the state or school district shares of the
basic project costs as determined under that chapter. As used in the
preceding sentence, "Ohio facilities construction commission"
and "basic project costs" have the same meanings as in
section 3318.01 of the Revised Code.

(E)
The issuing authority may, without need for any other approval,
appoint or provide for the appointment of paying agents, bond
registrars, securities depositories, credit enhancement providers or
counterparties, clearing corporations, and transfer agents, and
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 section and section 183.52
of the Revised Code. The attorney general as counsel to the issuing
authority shall represent the authority in the execution of its
powers and duties, and shall institute and prosecute all actions on
its behalf. The issuing authority, in consultation with the attorney
general, shall select counsel, and the attorney general shall appoint
the counsel selected, for the purposes of carrying out the functions
under this section and related sections of the Revised Code.
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, including as
to future financing costs, from the pledged receipts.

(F)
The issuing authority may irrevocably pledge and assign all, or such
portion as the issuing authority determines, of the pledged receipts
to the payment of the debt service charges on obligations issued
under this section, and for the establishment and maintenance of any
reserves, as provided in the bond proceedings, and make other
provisions in the bond proceedings with respect to pledged receipts
as authorized by this section, which provisions are controlling
notwithstanding any other provisions of law pertaining to them. Any
and all pledged receipts received by the issuing authority and
required by the bond proceedings, consistent with this section, to be
deposited, transferred, or credited to the bond service fund, and all
other money transferred or allocated to or received for the purposes
of that fund, shall be deposited and credited to the bond service
fund created in the bond proceedings for the obligations, subject to
any applicable provisions of those bond proceedings, but without
necessity for any act of appropriation. Those pledged receipts shall
immediately be subject to the lien of that pledge without any
physical delivery thereof or further act, and shall not be subject to
other court judgments. The lien of the pledge of those pledged
receipts shall be valid and binding against all parties having claims
of any kind against the issuing authority, irrespective of whether
those parties have notice thereof. The pledge shall create a
perfected security interest for all purposes of Chapter 1309. of the
Revised Code and a perfected lien for purposes of any other interest,
all without the necessity for separation or delivery of funds or for
the filing or recording of the applicable bond proceedings by which
that pledge is created or any certificate, statement, or other
document with respect thereto. The pledge of the pledged receipts
shall be effective and the money therefrom and thereof may be applied
to the purposes for which pledged.

(G)
Obligations may be further secured, as determined by the issuing
authority, by an indenture or a trust agreement between the issuing
authority and a corporate trustee, which may be any trust company or
bank having a place of business within the state. Any indenture or
trust agreement may contain the resolution or order authorizing the
issuance of the obligations, any provisions that may be contained in
any bond proceedings, and other provisions that are customary or
appropriate in an agreement of that type, including, but not limited
to:

(1)
Maintenance of each pledge, indenture, trust agreement, or other
instrument comprising part of the bond proceedings until the issuing
authority has fully paid or provided for the payment of debt service
on the obligations secured by it;

(2)
In the event of default in any payments required to be made by the
bond proceedings, enforcement of those payments or agreements by
mandamus, the appointment of a receiver, suit in equity, action at
law, or any combination of them;

(3)
The rights and remedies of the holders or owners of obligations and
of the trustee and provisions for protecting and enforcing them,
including limitations on rights of individual holders and owners.

(H)
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
issuing authority or of the holder or upon the occurrence of certain
conditions, and at a 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 this section
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, 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 issuing authority 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 or the activities of the issuing authority in
connection therewith.

The
bond proceedings shall make provision for the payment of the expenses
of the enforcement activity of the attorney general referred to in
division (B) of this section from the amounts from the tobacco master
settlement agreement assigned and sold to the issuing authority under
that division or from the proceeds of obligations, or a combination
thereof, which may include provision for both annual payments and a
special fund providing reserve amounts for the payment of those
expenses.

The
issuing authority shall not, and shall covenant in the bond
proceedings that it shall not, be authorized to and shall not file a
voluntary petition under the United States Bankruptcy Code, 11 U.S.C.
101 et seq., as amended, or voluntarily commence any similar
bankruptcy proceeding under state law including, without limitation,
consenting to the appointment of a receiver or trustee or making a
general or specific assignment for the benefit of creditors, and
neither any public officer or any organization, entity, or other
person shall authorize the issuing authority to be or become a debtor
under the United States Bankruptcy Code or take any of those actions
under the United States Bankruptcy Code or state law. The state
hereby covenants, and the issuing authority shall covenant, with the
holders or owners of the obligations, that the state shall not permit
the issuing authority to file a voluntary petition under the United
States Bankruptcy Code or take any of those actions under the United
States Bankruptcy Code or state law during the period obligations are
outstanding and for any additional period for which the issuing
authority covenants in the bond proceedings, which additional period
may, but need not, be a period of three hundred sixty-seven days or
more.

(I)
The obligations requiring execution by or for the issuing authority
shall be signed as provided in the bond proceedings, and may bear the
official seal of the issuing authority or a facsimile thereof. Any
obligation may be signed by the individual who, on the date of
execution, is the authorized signer even though, on the date of the
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.

(J)
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.

(K)
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.

(L)
Except to the extent that rights are restricted by the bond
proceedings, any owner of obligations or provider of or counterparty
to 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 issuing 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 members
of the issuing authority, or their designees acting pursuant to
section 183.52 of the Revised Code, or the issuing authority's
officers, staff, agents, or employees, when acting within the scope
of their employment or agency, shall not be liable in their personal
capacities on any obligations or otherwise under the bond
proceedings, or for otherwise exercising or carrying out any purposes
or powers of the issuing authority.

(M)(1)
Subject to any applicable limitations in division (C) of this
section, the issuing authority may also authorize and provide for the
issuance of:

(a)
Obligations in the form of bond anticipation notes, and may authorize
and 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, and all or any portion of
the pledged receipts, 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 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 (D)
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 under this section and
any bonds or notes previously issued for the purpose of paying costs
of capital facilities for: (i) state-supported or state-assisted
institutions of higher education as authorized by sections 151.01 and
151.04 of the Revised Code, pursuant to Sections 2i and 2n of Article
VIII, Ohio Constitution, and (ii) housing branches and agencies of
state government limited to facilities for a system of common schools
throughout the state as authorized by sections 151.01 and 151.03 of
the Revised Code, pursuant to Sections 2i and 2n of Article VIII,
Ohio Constitution. 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 or bonds or notes, any redemption
premium, and interest accrued or to accrue to the maturity or
redemption date or dates, payable on the prior obligations or bonds
or notes, 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 (M)(1)(b) of
this section to be applied to debt service on the prior obligations
or bonds or notes 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, and may be invested
as provided in the bond proceedings. Obligations authorized under
this division shall be considered to be issued for those purposes for
which the prior obligations or bonds or notes were issued.

(2)
The principal amount of refunding, advance refunding, or renewal
obligations issued pursuant to division (M) of this section shall be
in addition to the amount authorized in division (C) of this section.

(N)
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, 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.

(O)(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 issuing authority under interest rate hedges
entered into as credit enhancement facilities under this section
shall be deposited as provided in the applicable bond proceedings.

(P)
The obligations shall not be general obligations of the state and the
full faith and credit, revenue, and taxing power of the state shall
not be pledged to the payment of debt service on them or to any
guarantee of the payment of that debt service. The holders or owners
of the obligations shall have no right to have any moneys obligated
or pledged for the payment of debt service except as provided in this
section and in the applicable bond proceedings. The rights of the
holders and owners to payment of debt service are limited to all or
that portion of the pledged receipts, and those special funds,
pledged to the payment of debt service pursuant to the bond
proceedings in accordance with this section, and each obligation
shall bear on its face a statement to that effect.

(Q)
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.

(R)
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.

(S)(1)
Unless otherwise provided in any applicable bond proceedings, moneys
to the credit of special funds may be invested by or on behalf of the
issuing authority only in one or more of the following:

(a)
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;

(b)
Obligations of this state or any political subdivision of this state;

(c)
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;

(d)
The treasurer of state's pooled investment program under section

135.45

113.07

of
the Revised Code;

(e)
Other investment agreements or repurchase agreements that are
consistent with the ratings on the obligations.

(2)
The income from investments referred to in division (S)(1) of this
section shall 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.

(T)
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.

(U)
The issuing authority shall make quarterly reports to the general
assembly of the amounts in, and activities of, each improvement fund,
including amounts and activities on the subfund level. Each report
shall include a detailed description and analysis of the amount of
proceeds remaining in each fund from the sale of obligations pursuant
to this section, and any other deposits, credits, interest earnings,
disbursements, expenses, transfers, or activities of each fund.

(V)
The costs of the annual audit of the authority conducted pursuant to
section 117.112 of the Revised Code 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,
including as to future financing costs, from the pledged receipts.

Sec.
317.36.
(A)
The county recorder shall collect the low- and moderate-income
housing trust fund fee as specified in sections 317.114, 317.32,
1563.42, 1702.59, 2505.13, 4141.23, 4509.60, 5164.56, 5310.15,
5703.93, 5719.07, 5727.56, 5733.22, 6101.09, and 6115.09 of the
Revised Code. The amount of any housing trust fund fee the recorder
is authorized to collect is equal to the amount of any base fee the
recorder is authorized to collect for services. The housing trust
fund fee shall be collected in addition to the base fee.

(B)
The recorder shall certify the amounts collected as housing trust
fund fees pursuant to division (A) of this section into the county
treasury as housing trust fund fees to be paid to the
treasurer
of state
department
of development
pursuant
to section 319.63 of the Revised Code.

(C)
The document preservation surcharge collected under section 317.32 of
the Revised Code is not a base fee under this section.

Sec.
319.63.
(A)
During the first thirty days of each calendar quarter, the county
auditor shall pay to the
treasurer
of state
department
of development
all
amounts that the county recorder collected as housing trust fund fees
pursuant to section 317.36 of the Revised Code during the previous
calendar quarter. If payment is made to the
treasurer
of state
department
of development
within
the first thirty days of the quarter, the county auditor may retain
an administrative fee of one per cent of the amount of the trust fund
fees collected during the previous calendar quarter.

(B)
The
treasurer
of state
department
of development
shall
deposit the housing trust fund fees received each year pursuant to
this section into the low- and moderate-income housing trust fund
created under section 174.02 of the Revised Code.

(C)
The county auditor shall deposit the administrative fee that the
auditor is permitted to retain pursuant to division (A) of this
section into the county general fund for the county recorder to use
in administering the trust fund fee.

Sec.
321.46.
(A)
To enhance the background and working knowledge of county treasurers
in governmental accounting, portfolio reporting and compliance,
investments, cybersecurity, and cash management, the auditor of state
and the treasurer of state shall conduct education programs for
persons elected for the first time to the office of county treasurer
and shall hold biennial continuing education courses for persons who
continue to hold the office of county treasurer.

Initial
education programs for newly elected county treasurers shall be
held
between the first day of December and the first Monday of September
next following that person's election to the
completed
within four months of taking the oath of
office
of county treasurer. Similar initial education programs
may
also be provided to
shall
also be completed by
any
county treasurer who is appointed to fill a vacancy or who is elected
at a special election.

(B)(1)
The auditor of state shall determine the manner and content of the
initial education programs in the subject areas of governmental
accounting and portfolio reporting and compliance. In those areas,
newly elected county treasurers shall take at least thirteen hours of
education
before

within
four months of
taking

the
oath of
office.

(2)
The treasurer of state shall determine the manner and content of the
initial education programs in the subject areas of investments and
cash management. In those areas, newly elected county treasurers
shall take at least thirteen hours of education
before

within
four months of
taking

the
oath of
office.

(3)(a)
After completing one year in office, a county treasurer shall take
not less than twenty-four hours of continuing education during each
biennial cycle. For purposes of division (B)(3)(a) of this section, a
biennial cycle for continuing education shall be every two calendar
years after the treasurer's first year in office. The treasurer of
state shall determine the manner and content of the continuing
education courses in the subject areas of investments, cash
management, the collection of taxes, ethics, and any other subject
area that the treasurer of state determines is reasonably related to
the duties of the office of the county treasurer. The auditor of
state shall determine the manner and content of the continuing
education courses in the subject areas of governmental accounting,
portfolio reporting and compliance, office management, cybersecurity,
and any other subject area that the auditor of state determines is
reasonably related to the duties of the office of the county
treasurer.

(b)
A county treasurer who accumulates more than twenty-four hours of
continuing education in a biennial cycle described in division
(B)(3)(a) of this section may credit the hours in excess of
twenty-four hours to the next biennial cycle. However, regardless of
the total number of hours earned, no more than six hours in
continuing education determined by the treasurer of state pursuant to
division (B)(3)(a) of this section and six hours in continuing
education determined by the auditor of state pursuant to that
division shall be carried over to the next biennial cycle.

(c)
A county treasurer who participates in a training program or seminar
established under section 109.43 of the Revised Code may apply the
three hours of training to the twenty-four hours of continuing
education required in a biennial cycle under division (B)(3)(a) of
this section.

(C)
The auditor of state and the treasurer of state may each charge
counties a registration

or annual

fee that will meet actual and necessary expenses of the training of
county treasurers, including instructor fees, site acquisition costs,
and the cost of course materials. The necessary personal expenses of
county treasurers as a result of attending the initial education
programs and continuing education courses shall be borne by the
counties the treasurers represent.

(D)
The auditor of state and the treasurer of state may allow any other
interested person to attend any of the initial education programs or
continuing education courses held pursuant to this section, provided
that before attending any such program or course, the interested
person shall pay to either the auditor of state or the treasurer of
state, as appropriate, the full registration fee set for the program
or course.

For programs and courses hosted by the treasurer of state, an
interested person shall not be charged a registration fee if the
person has paid the annual fee pursuant to section 135.22 of the
Revised Code for the calendar year in which the program or course is
offered.

(E)(1)
If a county treasurer fails to complete the initial education
programs required by this section
before

within
four months of
taking

the oath of

office, the treasurer's authority to invest county funds and to
manage the county portfolio immediately is suspended, and this
authority is transferred to the county's investment advisory
committee until full compliance with the initial education programs
is determined by the
treasurer

auditor

of
state

based on review of proof of attendance retained by the county
treasurer
.

(2)
If a county treasurer fails to complete continuing education as
required by this section, the county treasurer is subject to

divisions
(B)

to
(E)

of

section
321.47 of the Revised Code, including possible suspension of the
treasurer's authority to invest county funds and to manage the county
portfolio and transfer of this authority to the county's investment
advisory committee.

(F)(1)
Notwithstanding divisions (B) and (E) of this section, a county
treasurer who fails to complete the initial education programs or
continuing education required by this section shall invest only in
the Ohio subdivisions fund pursuant to division (A)(6) of section
135.35 of the Revised Code, in no load money market mutual funds
pursuant to division (A)(5) of section 135.35 of the Revised Code, or
in time certificates of deposit or savings or deposit accounts
pursuant to division (A)(3) of section 135.35 of the Revised Code.

(2)
A county treasurer who has failed to complete the initial education
programs required by this section and invests in other than the
investments permitted by division (F)(1) of this section immediately
shall have the county treasurer's authority to invest county funds
and to manage the county portfolio suspended, and this authority
shall be transferred to the county's investment advisory committee
until full compliance with the initial education programs is
determined by the
auditor
of state, in consultation with the
treasurer
of state.

(3)
If a county treasurer fails to complete continuing education required
by this section and invests in other than the investments permitted
by division (F)(1) of this section, the county treasurer is subject
to
divisions
(B) to (E)

of

section
321.47 of the Revised Code, including possible suspension of the
treasurer's authority to invest county funds and to manage the county
portfolio and transfer of this authority to the county's investment
advisory committee.

(G)(1)
There is hereby created in the state treasury the county treasurer
education fund, to be used by the treasurer of state for actual and
necessary expenses of initial education programs and continuing
education held pursuant to this section and section 135.22 of the
Revised Code. All registration fees collected by the treasurer of
state under this section and section 135.22 of the Revised Code shall
be paid into that fund.

(2)
All registration fees collected by the auditor of state under this
section shall be paid into the auditor of state training program fund
established under section 117.44 of the Revised Code.

(H)
The treasurer of state, with the advice and consent of the auditor of
state, may adopt reasonable rules not inconsistent with this section
for the implementation of this section.

Sec.
321.47.
(A)
By the
fifteenth

thirty-first

day
of January following completion of each biennial cycle described in
division (B)(3)(a) of section 321.46 of the Revised Code,
each
county treasurer shall submit to
the

auditor

treasurer

of
state
shall
notify the treasurer of state
a
complete listing
of

the

continuing
education hours completed
under
the auditor of state's supervision by each county treasurer
for
that biennial cycle pursuant to section 321.46 of the Revised Code.

(B)
By the thirty-first day of January following completion of each
biennial cycle described in division (B)(3)(a) of section 321.46 of
the Revised Code, the
The

treasurer
of state shall determine whether any county treasurer has failed to
comply with the county treasurer's continuing education requirements
pursuant to section 321.46 of the Revised Code and, by certified
mail, shall notify any county treasurer who has not complied with the
requirements. The notice shall contain all of the following:

(1)
Notification that the county treasurer is deficient in continuing
education hours;

(2)

Notification
that if the county treasurer believes the treasurer of state's
records are in error, the county treasurer has one month to submit
proof to the treasurer of state that the county treasurer is in
compliance with the continuing education requirements;

(3)

Notification
that completion of the continuing education requirements also may be
obtained by attending courses approved by the auditor of state or the
treasurer of state, but that the county treasurer must comply fully
with the continuing education requirements and that the treasurer of
state must have proof of full compliance by the last day of April
following completion of each biennial cycle;

(4)
(3)

Notification that if the county treasurer has failed to comply fully
with the continuing education requirements by the last day of April
following completion of each biennial cycle, the treasurer of state
will notify the prosecuting attorney of that treasurer's county of
that fact immediately.

(C)(1)
(B)(1)

Upon receipt of the notice described in division
(B)(4)
(A)(3)

of this section, the prosecuting attorney shall petition the court of
common pleas of that county for an order suspending the county
treasurer's authority to invest county funds and to manage the county
investment portfolio. The petition shall contain a brief statement of
the facts and shall show that the county treasurer has failed to
comply with the continuing education requirements of section 321.46
of the Revised Code. Before or simultaneously with the filing of the
petition, the prosecuting attorney shall serve a copy of the petition
upon the county treasurer personally or by certified mail, together
with a copy of this section. Upon the filing of the petition, the
court, on the motion of the prosecuting attorney, shall enter an
order fixing a date for hearing not later than two weeks after the
date of filing and shall require that a copy of the order be given to
the county treasurer in the manner in which a summons is required to
be served or substituted service is required to be made in other
cases.

(2)
On the date fixed for the hearing described in division
(C)(1)

(B)(1)

of
this section, or any adjournment of it, the court shall determine
from the petition and evidence submitted by either party whether the
county treasurer has met the continuing education requirements of
section 321.46 of the Revised Code for the preceding biennial cycle
described in division (B)(3)(a) of section 321.46 of the Revised
Code. If the court finds that the county treasurer has failed to meet
these continuing education requirements, it shall enter an order
transferring the county treasurer's authority to invest county funds
and to manage the county portfolio to the county's investment
advisory committee until such time as the county treasurer complies
fully with the continuing education requirements.

(3)
The costs of the proceeding shall be assessed or apportioned as the
court considers equitable.

(D)
(C)

Upon receiving proof of completion of continuing education
requirements for the preceding biennial cycle described in division
(B)(3)(a) of section 321.46 of the Revised Code, the treasurer of
state shall notify the prosecuting attorney that the county treasurer
has complied fully with the continuing education requirements. The
prosecuting attorney shall submit this information to the court, and
the court shall enter an order terminating the authority of the
county's investment advisory committee to invest county funds and to
manage the county portfolio and restoring such authority to the
county treasurer.

(E)
(D)

The proceedings described in divisions
(B)
and
(C)

and
(D)

of this section are special proceedings, and final orders in the
proceedings may be reviewed and affirmed, modified, or reversed on
appeal pursuant to the Rules of Appellate Procedure and, to the
extent not in conflict with those rules, pursuant to Chapter 2505. of
the Revised Code.

Sec.
1557.03.
(A)(1)
The commissioners of the sinking fund are authorized to issue and
sell, as provided in this section and in amounts from time to time
authorized by the general assembly, general obligations of this state
for the purpose of financing or assisting in the financing of the
costs of projects. The full faith and credit, revenues, and taxing
power of the state are and shall be pledged to the timely payment of
debt charges on outstanding obligations, all in accordance with
Section 2l of Article VIII, Ohio Constitution, and Chapter 1557. of
the Revised Code, excluding from that pledge fees, excises, or taxes
relating to the registration, operation, or use of vehicles on the
public highways, or to fuels used for propelling those vehicles, and
so long as such obligations are outstanding there shall be levied and
collected excises and taxes, excluding those excepted above, in
amount sufficient to pay the debt charges on such obligations and
financing costs relating to credit enhancement facilities.

(2)
For meetings of the commissioners of the sinking fund pertaining to
the obligations under this chapter, each of the commissioners may
designate an employee or officer of that commissioner's office to
attend meetings when that commissioner is absent for any reason, and
such 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 commissioners at that meeting
pertaining to the obligations, provided, that such designee shall not
execute or cause a facsimile of the designee's signature to be placed
on any obligation, or execute any trust agreement or indenture of the
commissioners. Such designation shall be in writing, executed by the
designating member, and shall be filed with the secretary of the
commissioners and such designation may be changed from time to time
by a similar written designation.

(B)
The total principal amount of obligations outstanding at any one time
shall not exceed two hundred million dollars, and not more than fifty
million dollars in principal amount of obligations to pay costs of
projects may be issued in any fiscal year, all determined as provided
in Chapter 1557. of the Revised Code.

(C)
The state may participate by grants or contributions in financing
projects under this section made by local government entities. Of the
proceeds of the first two hundred million dollars principal amount in
obligations issued under this section to pay costs of projects, at
least twenty per cent shall be allocated in accordance with section
1557.06 of the Revised Code to grants or contributions to local
government entities. The director of budget and management shall
establish and maintain records in such manner as to show that the
proceeds credited to the Ohio parks and natural resources fund have
been expended for the purposes and in accordance with the limitations
set forth herein.

(D)
Each issue of obligations shall be authorized by resolution of the
commissioners of the sinking fund. The bond proceedings shall provide
for the principal amount or maximum principal amount of obligations
of an issue, and shall provide for or authorize the manner or agency
for determining the principal maturity or maturities, not exceeding
the earlier of twenty-five years from the date the debt represented
by the particular obligations was originally contracted, the interest
rate or rates, the date of and the dates of payment of interest on
the obligations, their denominations, and the establishment within or
without the state of a place or places of payment of debt charges.
Sections 9.96 and 9.98 to 9.983 of the Revised Code are applicable to
the obligations. The purpose of the obligations may be stated in the
bond proceedings as "financing or assisting in the financing of
projects as provided in Section 2l of Article VIII, Ohio
Constitution."

(E)
The proceeds of the obligations, except for any portion to be
deposited in special funds, or in escrow funds for the purpose of
refunding outstanding obligations, all as may be provided in the bond
proceedings, shall be deposited in the Ohio parks and natural
resources fund established by section 1557.02 of the Revised Code.

(F)
The commissioners of the sinking fund may appoint paying agents, bond
registrars, securities depositories, and transfer agents, and may
retain the services of financial advisers and accounting experts, and
retain or contract for the services of marketing, remarketing,
indexing, and administrative agents, other consultants, and
independent contractors, including printing services, as are
necessary in the judgment of the commissioners to carry out this
chapter of the Revised Code. Financing costs are payable, as provided
in the bond proceedings, from the proceeds of the obligations, from
special funds, or from other moneys available for the purpose.

(G)
The bond proceedings, including any trust agreement, may contain
additional provisions customary or appropriate to the financing or to
the obligations or to particular obligations, including, but not
limited to:

(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
at such price or prices and under such terms and conditions as are
provided in the bond proceedings;

(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, without
regard to Chapter 131. or 135. of the Revised Code, provided that any
bank or trust company that acts as a depository of any moneys in
special funds may furnish such indemnifying bonds or may pledge such
securities as required by the commissioners of the sinking fund;

(4)
Any or every provision of the bond proceedings binding upon the
commissioners of the sinking fund and such state agency or local
government entities, officer, board, commission, authority, agency,
department, or other person or body as may from time to time have the
authority under law to take such actions as may be necessary to
perform all or any part of the duty required by such provision;

(5)
The maintenance of each pledge, any trust agreement, or other
instrument composing part of the bond proceedings until the state has
fully paid or provided for the payment of the debt charges 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 any other agreement of the commissioners of the
sinking fund made as part of a contract under which the obligations
were issued or secured, the enforcement of such payments or
agreements by mandamus, suit in equity, action at law, or any
combination of the foregoing;

(7)
The rights and remedies of the holders of obligations and of the
trustee under any trust agreement, and provisions for protecting and
enforcing them, including limitations on rights of individual holders
of obligations;

(8)
The replacement of any obligations that become mutilated or are
destroyed, lost, or stolen;

(9)
Provision for the funding, refunding, or advance refunding or other
provision for payment of obligations which will then no longer be or
be deemed to be outstanding for purposes of this section or of the
bond proceedings;

(10)
Any provision that may be made in bond proceedings or a trust
agreement, including provision for amendment of the bond proceedings;

(11)
Such other provisions as the commissioners of the sinking fund
determine, including limitations, conditions, or qualifications
relating to any of the foregoing;

(12)
Any other or additional agreements with the holders of the
obligations relating to the obligations or the security for the
obligations.

(H)
The great seal of the state or a facsimile of that seal may be
affixed to or printed on the obligations. The obligations shall be
signed by or bear the facsimile signatures of two or more of the
commissioners of the sinking fund as provided in the bond
proceedings. Any obligations may be signed by the person who, on the
date of execution, is the authorized signer although on the date of
such obligations such person was not a commissioner. In case the
individual whose signature or a facsimile of whose signature appears
on any obligation ceases to be a commissioner before delivery of the
obligation, such signature or facsimile is nevertheless valid and
sufficient for all purposes as if the individual had remained the
member until such delivery, and in case the seal to be affixed to or
printed on obligations has been changed after the seal has been
affixed to or a facsimile of the seal has been printed on the
obligations, that seal or facsimile seal shall continue to be
sufficient as to those obligations and obligations issued in
substitution or exchange therefor.

(I)
Obligations may be issued in coupon or in fully registered form, or
both, as the commissioners of the sinking fund determine. Provision
may be made for the registration of any obligations with coupons
attached as to principal alone or as to both principal and interest,
their exchange for obligations so registered, and for the conversion
or reconversion into obligations with coupons attached of any
obligations registered as to both principal and interest, and for
reasonable charges for such registration, exchange, conversion, and
reconversion. Pending preparation of definitive obligations, the
commissioners of the sinking fund may issue interim receipts or
certificates which shall be exchanged for such definitive
obligations.

(J)
Obligations may be sold at public sale or at private sale, and at
such price at, above, or below par, as determined by the
commissioners of the sinking fund in the bond proceedings.

(K)
In the discretion of the commissioners of the sinking fund,
obligations may be secured additionally by a trust agreement between
the state and a corporate trustee which may be any trust company or
bank having a place of business within the state. Any trust agreement
may contain the resolution authorizing the issuance of the
obligations, any provisions that may be contained in the bond
proceedings, and other provisions that are customary or appropriate
in an agreement of the type.

(L)
Except to the extent that their rights are restricted by the bond
proceedings, any holder of obligations, or a trustee under the bond
proceedings, may by any suitable form of legal proceedings protect
and enforce any rights under the laws of this state or granted by the
bond proceedings. Such rights include the right to compel the
performance of all duties of the commissioners and the state. Each
duty of the commissioners and employees of the commissioners, and of
each state agency and local public entity and its officers, members,
or employees, undertaken pursuant to the bond proceedings, is hereby
established as a duty of the commissioners, and of each such agency,
local government entity, officer, member, or employee having
authority to perform such duty, specifically enjoined by the law and
resulting from an office, trust, or station within the meaning of
section 2731.01 of the Revised Code. The persons who are at the time
the commissioners, or employees of the commissioners, are not liable
in their personal capacities on any obligations or any agreements of
or with the commissioners relating to obligations or under the bond
proceedings.

(M)
Obligations are lawful investments for banks, societies for savings,
savings and loan associations, deposit guarantee associations, 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 political subdivisions and taxing districts of this
state, the commissioners of the sinking fund, the administrator of
workers' compensation, 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
thereto by any state agency with respect to investments by them, and
are also acceptable as security for the deposit of public moneys.

(N)
Unless otherwise provided in any applicable bond proceedings, moneys
to the credit of or in the special funds established by or pursuant
to this section may be invested by or on behalf of the commissioners
of the sinking fund only in notes, bonds, or other direct obligations
of the United States or of any agency or instrumentality of the
United States, in obligations of this state or any political
subdivision of this state, in 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, in the Ohio subdivision's
fund established pursuant to section
135.45

113.07

of
the Revised Code, in no-front-end-load money market mutual funds
consisting exclusively of direct obligations of the United States or
of an agency or instrumentality of the United States, and in
repurchase agreements, including those issued by any fiduciary,
secured by direct obligations of the United States or an agency or
instrumentality of the United States, and in collective investment
funds established in accordance with section 1111.14 of the Revised
Code and consisting exclusively of direct obligations of the United
States or of an agency or instrumentality of the United States,
notwithstanding division (A)(1)(c) of that section. The income from
investments shall be credited to such special funds or otherwise as
the commissioners of the sinking fund determine in the bond
proceedings, and the investments may be sold or exchanged at such
times as the commissioners determine or authorize.

(O)
Unless otherwise provided in any applicable bond proceedings, moneys
to the credit of or in a special fund shall be disbursed on the order
of the commissioners of the sinking fund, provided that no such order
is required for the payment from the bond service fund or other
special fund when due of debt charges or required payments under
credit enhancement facilities.

(P)
The commissioners of the sinking fund may covenant in the bond
proceedings, and any such covenants 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, so long as any obligations are outstanding in accordance
with their terms, shall maintain statutory authority for and cause to
be charged and collected taxes, excises, and other receipts of the
state so that the receipts to the bond service fund shall be
sufficient in amounts to meet debt charges and for the establishment
and maintenance of any reserves and other requirements, including
payment of the costs of credit enhancement facilities, provided for
in the bond proceedings.

(Q)
The obligations, the transfer thereof, and the interest, other
accreted amounts, and other income therefrom, including any profit
made on the sale thereof, at all times shall be free from taxation,
direct or indirect, within the state.

(R)
This section applies only with respect to obligations issued and
delivered before September 30, 2000.

Sec.
2969.13.
All
moneys that are collected pursuant to section 2929.32 of the Revised
Code and required to be deposited in the crime victims recovery fund
shall be credited
by
the treasurer of state
to
the fund. Any interest earned on the money in the fund shall be
credited to the fund.

Sec.
3109.14.
(A)
As used in this section, "birth record" and "certification
of birth" have the meanings given in section 3705.01 of the
Revised Code.

(B)(1)
The director of health, a person authorized by the director, a local
commissioner of health, or a local registrar of vital statistics
shall charge and collect a fee for each certified copy of a birth
record, for each certification of birth, and for each copy of a death
record. The fee shall be three dollars. The fee is in addition to the
fee imposed by section 3705.24 or any other section of the Revised
Code. A local commissioner of health or a local registrar of vital
statistics may retain an amount of each additional fee collected, not
to exceed three per cent of the amount of the additional fee, to be
used for costs directly related to the collection of the fee and the
forwarding of the fee to the department of health.

The
additional fees collected by the director of health or a person
authorized by the director and the additional fees collected but not
retained by a local commissioner of health or a local registrar of
vital statistics shall be forwarded to the department of health not
later than thirty days following the end of each quarter. Not later
than two days after the fees are forwarded to the department each
quarter, the department shall
pay
the collected fees to the treasurer of state in accordance with rules
adopted by the treasurer of state under section 113.08 of the Revised
Code
deposit
the fees into the state treasury to the credit of the children's
trust fund
.

A person or government entity that fails to forward the fees in a
timely manner, as determined by the department, shall send to the
department, in addition to the fees, a penalty equal to ten per cent
of the fees.

(2)
Upon the filing for a divorce decree under section 3105.10 or a
decree of dissolution under section 3105.65 of the Revised Code, a
court of common pleas shall charge and collect a fee. The fee shall
be eleven dollars. The fee is in addition to any other court costs or
fees. The county clerk of courts may retain an amount of each
additional fee collected, not to exceed three per cent of the amount
of the additional fee, to be used for costs directly related to the
collection of the fee and the forwarding of the fee to the treasurer
of state. The additional fees collected, but not retained, under
division (B)(2) of this section shall be forwarded to the treasurer
of state not later than twenty days following the end of each month.

The treasurer of state shall deposit the fees in the state treasury
to the credit of the children's trust fund, which is hereby created.
A county clerk of courts that fails to forward the fees in a timely
manner, as determined by the treasurer of state, shall send to the
treasurer of state, in addition to the fees, a penalty equal to ten
per cent of the fees.

(C)

The
treasurer of state shall deposit the fees paid or forwarded under
this section in the state treasury to the credit of the children's
trust fund, which is hereby created. A person or government entity
that fails to forward the fees in a timely manner, as determined by
the treasurer of state, shall send to the treasurer of state, in
addition to the fees, a penalty equal to ten per cent of the fees.

The
treasurer of state shall invest the moneys in the fund, and all
earnings resulting from investment of the fund shall be credited to
the fund, except that actual administrative costs incurred by the
treasurer of state in administering the fund may be deducted from the
earnings resulting from investments. The amount that may be deducted
shall not exceed three per cent of the total amount of fees credited
to the fund in each fiscal year, except that the children's trust
fund board may approve an amount for actual administrative costs
exceeding three per cent but not exceeding four per cent of such
amount. The balance of the investment earnings shall be credited to
the fund. Moneys credited to the fund shall be used only for the
purposes described in sections 3109.13 to 3109.179 of the Revised
Code.

Sec.
3307.12.
The
treasurer of state shall be the custodian
of
the funds
of
the state teachers retirement system

funds created under section 3307.14 of the Revised Code
,
and all disbursements therefrom shall be paid by
him

the treasurer of state

only upon instruments duly authorized by the state teachers
retirement board and bearing the signatures of the
chairman

chairperson

and secretary of the board. Such signatures may be affixed through
the use of a mechanical check signing device.

The
treasurer of state shall give a separate and additional bond in such
amount as is fixed by the governor and with sureties selected by the
board and approved by the governor, conditioned for the faithful
performance of the duties of the treasurer of state as custodian of
the funds of the system. Such bond shall be deposited with the
secretary of state and kept in
his

the secretary of state's

office. The governor may require the treasurer of state to give
additional bonds, as the funds of the system increase, in such
amounts and at such times as are fixed by the governor, which
additional bonds shall be conditioned, filed, and obtained as is
provided for the original bond of the treasurer of state covering the
funds of the system. The premium on all bonds shall be paid by the
board.

The

money
held in the depository accounts of any entity established directly or
indirectly to facilitate the investment of funds pursuant to section
3307.15 of the Revised Code are not public moneys or public deposits
for the purposes of Chapters 113. and 135. of the Revised Code and
shall not be considered to be in the custody of the
treasurer
of state

shall deposit any portion of the funds of the
.
The state teachers retirement
system

not
needed for immediate use in the same manner as state funds are
deposited, and subject to all law with respect to the deposit of
state funds, by the treasurer of state, and all interest earned by
such portion of the retirement funds as is deposited by the treasurer
of state shall be collected by himand placed to the credit of the
board
shall
have sole responsibility for such depository accounts
.

Sec.
3334.08.
(A)
Subject to division (B) of this section, in addition to any other
powers conferred by this chapter, the Ohio tuition trust authority
may do any of the following:

(1)
Impose reasonable residency requirements for beneficiaries of tuition
units;

(2)
Impose reasonable limits on the number of tuition unit participants;

(3)
Impose and collect administrative fees and charges in connection with
any transaction under this chapter;

(4)
Purchase insurance from insurers licensed to do business in this
state providing for coverage against any loss in connection with the
authority's property, assets, or activities or to further ensure the
value of tuition units;

(5)
Indemnify or purchase policies of insurance on behalf of members,
officers, and employees of the authority from insurers licensed to do
business in this state providing for coverage for any liability
incurred in connection with any civil action, demand, or claim
against a director, officer, or employee by reason of an act or
omission by the director, officer, or employee that was not
manifestly outside the scope of the employment or official duties of
the director, officer, or employee or with malicious purpose, in bad
faith, or in a wanton or reckless manner;

(6)
Make, execute, and deliver contracts, conveyances, and other
instruments necessary to the exercise and discharge of the powers and
duties of the authority;

(7)
Promote, advertise, and publicize the Ohio college savings program
and the variable college savings program;

(8)
Adopt rules under section 111.15 of the Revised Code for the
implementation of the Ohio college savings program;

(9)
Contract, for the provision of all or part of the services necessary
for the management and operation of the Ohio college savings program
and the variable college savings program, with a bank, trust company,
savings and loan association, insurance company, or licensed dealer
in securities if the bank, company, association, or dealer is
authorized to do business in this state and information about the
contract is filed with the controlling board pursuant to division
(D)(6) of section 127.16 of the Revised Code; provided, however, that
any funds of the Ohio college savings program and the variable
college savings program that are not needed for immediate use shall
be deposited by the treasurer of state in the same manner provided
under Chapter 135. of the Revised Code for public moneys of the
state. All interest earned on those deposits shall be credited to the
Ohio college savings program or the variable college savings program,
as applicable.

(10)
Contract for other services, or for goods, needed by the authority in
the conduct of its business, including but not limited to credit card
services;

(11)
Employ an executive director and other personnel as necessary to
carry out its responsibilities under this chapter, and fix the
compensation of these persons. All employees of the authority shall
be in the unclassified civil service and shall be eligible for
membership in the public employees retirement system. In the hiring
of the executive director, the Ohio tuition trust authority shall
obtain the advice and consent of the Ohio tuition trust investment
board created in section 3334.03 of the Revised Code, provided that
the executive director shall not be hired unless a majority of the
board votes in favor of the hiring. In addition, the board may remove
the executive director at any time subject to the advice and consent
of the chancellor of higher education.

(12)
Contract with financial consultants, actuaries, auditors, and other
consultants as necessary to carry out its responsibilities under this
chapter;

(13)
Enter into agreements with any agency of the state or its political
subdivisions or with private employers under which an employee may
agree to have a designated amount deducted in each payroll period
from the wages or salary due the employee for the purpose of
purchasing tuition units pursuant to a tuition payment contract or
making contributions pursuant to a variable college savings program
contract;

(14)

Enter
into an agreement with the treasurer of state under which the
treasurer of state will receive, and credit to the Ohio tuition trust
fund or variable college savings program fund, from any bank or
savings and loan association authorized to do business in this state,
amounts that a depositor of the bank or association authorizes the
bank or association to withdraw periodically from the depositor's
account for the purpose of purchasing tuition units pursuant to a
tuition payment contract or making contributions pursuant to a
variable college savings program contract;

(15)

Solicit
and accept gifts, grants, and loans from any person or governmental
agency and participate in any governmental program;

(16)
(15)

Impose limits on the number of units which may be purchased on behalf
of or assigned or awarded to any beneficiary and on the total amount
of contributions that may be made on behalf of a beneficiary;

(17)
(16)

Impose restrictions on the substitution of another individual for the
original beneficiary under the Ohio college savings program;

(18)
(17)

Impose a limit on the age of a beneficiary, above which tuition units
may not be purchased on behalf of that beneficiary;

(19)
Enter into a cooperative agreement with the treasurer of state to
provide for the direct disbursement of payments under tuition payment
or variable college savings program contracts;

(20)
(18)

Terminate any tuition payment or variable college savings program
contract if no purchases or contributions are made for a period of
three years or more and there are fewer than a total of five tuition
units or less than a dollar amount set by rule on account, provided
that notice of a possible termination shall be provided in advance,
explaining any options to prevent termination, and a reasonable
amount of time shall be provided within which to act to prevent a
termination;

(21)
(19)

Maintain a separate account for each tuition payment or variable
college savings program contract;

(22)
(20)

Perform all acts necessary and proper to carry out the duties and
responsibilities of the authority pursuant to this chapter.

(B)
The authority shall adopt rules under section 111.15 of the Revised
Code for the implementation and administration of the variable
college savings program. The rules shall provide taxpayers with the
maximum tax advantages and flexibility consistent with section 529 of
the Internal Revenue Code and regulations adopted thereunder with
regard to disposition of contributions and earnings, designation of
beneficiaries, and rollover of account assets to other programs.

(C)
Except as otherwise specified in this chapter, the provisions of
Chapters 123. and 4117. of the Revised Code shall not apply to the
authority and Chapter 125. of the Revised Code shall not apply to
contracts approved under the powers of the Ohio tuition trust
authority investment board under section 3334.03 of the Revised Code.

Sec.
3334.11.
(A)
The assets of the Ohio tuition trust authority reserved for payment
of the obligations of the authority pursuant to tuition payment
contracts shall be placed in a fund, which is hereby created and
shall be known as the Ohio tuition trust fund. The fund shall be in
the custody of the treasurer of state, but shall not be part of the
state treasury. That portion of payments received by the authority or
the treasurer of state from persons purchasing tuition units under
tuition payment contracts that the authority determines is
actuarially necessary for the payment of obligations of the authority
pursuant to tuition payment contracts, all interest and investment
income earned by the fund, and all other receipts of the authority
from any other source that the authority determines appropriate,
shall be deposited in the fund. No purchaser or beneficiary of
tuition units shall have any claim against the funds of any state
institution of higher education. All investment fees and other costs
incurred in connection with the exercise of the investment powers of
the authority pursuant to divisions (D) and (E) of this section shall
be paid from the assets of the fund.

(B)
Unless otherwise provided by the authority, the assets of the Ohio
tuition trust fund shall be expended in the following order:

(1)
To make payments to beneficiaries, or institutions of higher
education on behalf of beneficiaries, under division (B) of section
3334.09 of the Revised Code;

(2)
To make refunds as provided in divisions (A) and (C) of section
3334.10 of the Revised Code;

(3)
To pay the investment fees and other costs of administering the fund.

(C)(1)

Except
as may be provided in an agreement under division (A)(19) of section
3334.08 of the Revised Code, all
All

disbursements
from the Ohio tuition trust fund shall be made by the treasurer of
state on order of a designee of the authority.

(2)
The treasurer of state shall deposit any portion of the Ohio tuition
trust fund not needed for immediate use in the same manner as state
funds are deposited.

(D)
The authority is the trustee of the Ohio tuition trust fund. The
authority shall have full power to invest the assets of the fund and
in exercising this power shall be subject to the limitations and
requirements contained in divisions (K) to (M) of this section and
sections 145.112 and 145.113 of the Revised Code. The evidences of
title of all investments shall be delivered to the treasurer of state
or to a qualified trustee designated by the treasurer of state as
provided in section 135.18 of the Revised Code. Assets of the fund
shall be administered by the authority in a manner designed to be
actuarially sound so that the assets of the fund will be sufficient
to satisfy the obligations of the authority pursuant to tuition
payment contracts and defray the reasonable expenses of administering
the fund.

(E)
The authority may enter into an agreement with any business, entity,
or governmental agency to perform the investment duties of the
authority as set forth in division (D) of this section. The
investment powers shall be exercised by the business, entity, or
governmental agency that entered into an agreement with the authority
in a manner agreed upon by the authority that maximizes the return on
investment and minimizes the administrative expenses.

(F)(1)
The authority shall maintain a separate account for each tuition
payment contract entered into pursuant to division (A) of section
3334.09 of the Revised Code for the purchase of tuition units on
behalf of a beneficiary or beneficiaries showing the beneficiary or
beneficiaries of that contract and the number of tuition units
purchased pursuant to that contract. Upon request of any beneficiary
or person who has entered into a tuition payment contract, the
authority shall provide a statement indicating, in the case of a
beneficiary, the number of tuition units purchased on behalf of the
beneficiary, or in the case of a person who has entered into a
tuition payment contract, the number of tuition units purchased,
used, or refunded pursuant to that contract. A beneficiary and person
that have entered into a tuition payment contract each may file only
one request under this division in any year.

(2)
The authority shall maintain an account for each scholarship program
showing the number of tuition units that have been purchased for or
donated to the program and the number of tuition units that have been
used. Upon the request of the entity that established the scholarship
program, the authority shall provide a statement indicating these
numbers.

(G)(1)
In addition to the Ohio tuition trust fund, there is hereby
established a reserve fund that shall be in the custody of the
treasurer of state but shall not be part of the state treasury, and
shall be known as the Ohio tuition trust reserve fund, and an
operating fund that shall be part of the state treasury, and shall be
known as the Ohio tuition trust operating fund. That portion of
payments received by the authority or the treasurer of state from
persons purchasing tuition units under tuition payment contracts that
the authority determines is not actuarially necessary for the payment
of obligations of the authority pursuant to tuition payment
contracts, any interest and investment income earned by the reserve
fund, any administrative charges and fees imposed by the authority on
transactions under this chapter or on purchasers or beneficiaries of
tuition units, and all other receipts from any other source that the
authority determines appropriate, shall be deposited in the reserve
fund to pay the operating expenses of the authority and the costs of
administering the program. The assets of the reserve fund may be
invested in the same manner and subject to the same limitations set
forth in divisions (D), (E), and (K) to (M) of this section and
sections 145.112 and 145.113 of the Revised Code. All investment fees
and other costs incurred in connection with the exercise of the
investment powers shall be paid from the assets of the reserve fund.
Except as otherwise provided for in this chapter, all operating
expenses of the authority and costs of administering the program
shall be paid from the operating fund.

(2)
The treasurer shall, upon request of the authority, transfer funds
from the reserve fund to the operating fund as the authority
determines appropriate to pay those current operating expenses of the
authority and costs of administering the program as the authority
designates. Any interest or investment income earned on the assets of
the operating fund shall be deposited in the operating fund.

(H)
In January of each year the authority shall report to each person who
received any payments or refunds from the authority during the
preceding year information relative to the value of the payments or
refunds to assist in determining that person's tax liability.

(I)
The authority shall report to the tax commissioner any information,
and at the times, as the tax commissioner requires to determine any
tax liability that a person may have incurred during the preceding
year as a result of having received any payments or refunds from the
authority.

(J)
All records of the authority indicating the identity of purchasers
and beneficiaries of tuition units or college savings bonds, the
number of tuition units purchased, used, or refunded under a tuition
payment contract, and the number of college savings bonds purchased,
held, or redeemed are not public records within the meaning of
section 149.43 of the Revised Code.

(K)(1)
The authority and other fiduciaries shall discharge their duties with
respect to the funds with care, skill, prudence, and diligence under
the circumstances then prevailing that a prudent person acting in a
like capacity and familiar with such matters would use in the conduct
of an enterprise of a like character and with like aims; and by
diversifying the investments of the assets of the funds so as to
minimize the risk of large losses, unless under the circumstances it
is clearly prudent not to do so.

(2)
To facilitate investment of the funds, the authority may establish a
partnership, trust, limited liability company, corporation, including
a corporation exempt from taxation under the Internal Revenue Code,
100 Stat. 2085, 26 U.S.C. 1, as amended, or any other legal entity
authorized to transact business in this state.

(L)
In exercising its fiduciary responsibility with respect to the
investment of the assets of the funds, it shall be the intent of the
authority to give consideration to investments that enhance the
general welfare of the state and its citizens where the investments
offer quality, return, and safety comparable to other investments
currently available to the authority. In fulfilling this intent,
equal consideration shall also be given to investments otherwise
qualifying under this section that involve minority owned and
controlled firms and firms owned and controlled by women, either
alone or in joint venture with other firms.

The
authority shall adopt, in regular meeting, policies, objectives, or
criteria for the operation of the investment program that include
asset allocation targets and ranges, risk factors, asset class
benchmarks, time horizons, total return objectives, and performance
evaluation guidelines. In adopting policies and criteria for the
selection of agents with whom the authority may contract for the
administration of the assets of the funds, the authority shall give
equal consideration to minority owned and controlled firms, firms
owned and controlled by women, and ventures involving minority owned
and controlled firms and firms owned and controlled by women that
otherwise meet the policies and criteria established by the
authority. Amendments and additions to the policies and criteria
shall be adopted in regular meeting. The authority shall publish its
policies, objectives, and criteria under this provision no less often
than annually and shall make copies available to interested parties.

When
reporting on the performance of investments, the authority shall
comply with the performance presentation standards established by the
association for investment management and research.

(M)
All investments shall be purchased at current market prices and the
evidences of title of the investments shall be placed in the hands of
the treasurer of state, who is hereby designated as custodian
thereof, or in the hands of the treasurer of state's authorized
agent. The treasurer of state or the agent shall collect the
principal, dividends, distributions, and interest thereon as they
become due and payable and place them when so collected into the
custodial funds.

The
treasurer of state shall pay for investments purchased by the
authority on receipt of written or electronic instructions from the
authority or the authority's designated agent authorizing the
purchase and pending receipt of the evidence of title of the
investment by the treasurer of state or the treasurer of state's
authorized agent. The authority may sell investments held by the
authority, and the treasurer of state or the treasurer of state's
authorized agent shall accept payment from the purchaser and deliver
evidence of title of the investment to the purchaser on receipt of
written or electronic instructions from the authority or the
authority's designated agent authorizing the sale, and pending
receipt of the moneys for the investments. The amount received shall
be placed in the custodial funds. The authority and the treasurer of
state may enter into agreements to establish procedures for the
purchase and sale of investments under this division and the custody
of the investments.

No
purchase or sale of any investment shall be made under this section
except as authorized by the authority.

Any
statement of financial position distributed by the authority shall
include fair value, as of the statement date, of all investments held
by the authority under this section.

Sec.
3705.242.
(A)(1)
The director of health, a person authorized by the director, a local
commissioner of health, or a local registrar of vital statistics
shall charge and collect a fee of one dollar and fifty cents for each
certified copy of a birth record, each certification of birth, and
each copy of a death record. The fee is in addition to the fee
imposed by section 3705.24 or any other section of the Revised Code.
A local commissioner of health or local registrar of vital statistics
may retain an amount of each additional fee collected, not to exceed
three per cent of the amount of the additional fee, to be used for
costs directly related to the collection of the fee and the
forwarding of the fee to the department of health.

The
additional fees collected by the director of health or a person
authorized by the director and the additional fees collected but not
retained by a local commissioner of health or a local registrar of
vital statistics shall be forwarded to the department of health not
later than thirty days following the end of each quarter. Not later
than two days after the fees are forwarded to the department each
quarter, the department shall
pay

deposit

the

collected

fees

to

into

the

treasurer
of
state

in
accordance with rules adopted by the treasurer of state under section
113.08 of the Revised Code
treasury
to the credit of the family violence prevention fund
.

(2)
On the filing of a divorce decree under section 3105.10 or a decree
of dissolution under section 3105.65 of the Revised Code, a court of
common pleas shall charge and collect a fee of five dollars and fifty
cents. The fee is in addition to any other court costs or fees. The
county clerk of courts may retain an amount of each additional fee
collected, not to exceed three per cent of the amount of the
additional fee, to be used for costs directly related to the
collection of the fee and the forwarding of the fee to the treasurer
of state. The additional fees collected, but not retained, under
division (A)(2) of this section shall be forwarded to the treasurer
of state not later than twenty days following the end of each month.

The treasurer of state shall deposit the fees paid or forwarded under
this section in the state treasury to the credit of the family
violence prevention fund, which is hereby created.

(B)

The
treasurer of state shall deposit the fees paid or forwarded under
this section in the state treasury to the credit of the family
violence prevention fund, which is hereby created.
A
person or government entity that fails to pay or forward the fees in
the manner described in this section, shall send to the department of
public safety a penalty equal to ten per cent of the fees. The
department of public safety shall
forward

deposit

all
collected late fees
to
the treasurer of state for deposit
into
the family violence prevention fund

in accordance with rules adopted by the treasurer of state under
section 113.08 of the Revised Code
.

The
treasurer of state shall invest the moneys in the fund. All earnings
resulting from investment of the fund shall be credited to the fund,
except that actual administration costs incurred by the treasurer of
state in administering the fund may be deducted from the earnings
resulting from investments. The amount that may be deducted shall not
exceed three per cent of the total amount of fees credited to the
fund in each fiscal year. The balance of the investment earnings
shall be credited to the fund.

(C)
The director of public safety shall use money credited to the fund to
provide grants to family violence shelters in Ohio and to operate the
division of criminal justice services.

Sec.
3737.945.
Moneys
in the funds of the petroleum underground storage tank release
compensation board, except as otherwise provided in any resolution
authorizing the issuance of its revenue bonds or in any trust
agreement securing the same, in excess of current needs, may be
invested by the board in notes, bonds, or other obligations of the
United States, or of any agency or instrumentality thereof, or in
obligations of this state or any political subdivision thereof, or
the treasurer of state's investment pool authorized under section

135.45

113.07

of
the Revised Code. Income from all such investments of moneys in any
fund shall be credited to such funds as the board determines, subject
to the provisions of any resolution or trust agreement, and the
investments may be sold as the board determines.

Sec.
3953.231.
(A)(1)
Each title insurance agent or title insurance company shall establish
and maintain an interest-bearing trust account for the deposit of all
non-directed escrow funds that meet the requirements of sections
1349.20 to 1349.22 of the Revised Code.

(2)
The account shall be established and maintained in any federally
insured bank, savings and loan association, credit union, or savings
bank that is authorized to transact business in this state.

(3)
The account shall be in the name of the title insurance agent or
company, and shall be identified as an "interest on trust
account" or "IOTA." The name of the account may
contain additional identifying information to distinguish it from
other accounts.

(4)
The title insurance agent or company establishing the account shall
submit, in writing, to the superintendent of insurance the name,
account number, and location of the bank, savings and loan
association, credit union, or savings bank in which the trust account
is maintained.

(B)
Each title insurance agent or company shall deposit all non-directed
escrow funds that are nominal in amount or are to be held for a short
period of time into the account established under division (A) of
this section no later than the next business day after receipt.

(C)
Each account established under division (A) of this section shall
comply with all of the following:

(1)
All funds in the account shall be subject to withdrawal or transfer
upon request and without delay, or as soon as permitted by law;

(2)
The rate of interest payable on the account shall not be less than
the rate paid by the bank, savings and loan, credit union, or savings
bank to its regular depositors. The rate may be higher if there is no
impairment of the right to the immediate withdrawal or transfer of
the principal;

(3)
All interest earned on the account, net of service charges and other
related charges, shall be transmitted to the
treasurer
of
state

public
defender
for
deposit in the legal aid fund established under section 120.52 of the
Revised Code. No part of the interest earned shall be paid to the
title insurance agent or company.

(D)
The title insurance agent or company establishing an account under
division (A) of this section shall direct the bank, savings and loan
association, credit union, or savings bank to do both of the
following:

(1)
Remit interest or dividends on the average monthly balance in the
account, or as otherwise computed in accordance with the standard
accounting practice of the bank, savings and loan association, credit
union, or savings bank, less reasonable service charges and other
related charges, to the
treasurer
of
state

public
defender
at
least quarterly for deposit in the legal aid fund established under
section 120.52 of the Revised Code;

(2)
At the time of each remittance, transmit to the
treasurer
of
state

public defender
,
and if requested, to the Ohio access to justice foundation, and the
title insurance agent or company, a statement showing the name of the
title insurance agent or company for whom the remittance is sent, the
rate of interest applied, the accounting period, the net amount
remitted to the
treasurer
of
state

public
defender
for
each account, the total remitted, the average account balance for
each month of the period for which the report is made, and the amount
deducted for service charges and other related charges.

(E)
The statements and reports submitted by the bank, savings and loan
association, credit union, or savings bank under this section, are
not public records subject to section 149.43 of the Revised Code and
shall be used only to administer the legal aid fund.

(F)
No funds belonging to a title insurance agent or company shall be
deposited into an account established under division (A) of this
section except funds necessary to pay service charges and other
related charges of the bank, savings and loan association, credit
union, or savings bank that are in excess of earnings on the account.

(G)
No liability arising out of any negligent act or omission of any
title insurance agent or company with respect to any account
established under division (A) of this section shall be imputed to
the bank, savings and loan association, credit union, or savings
bank.

(H)
No liability or responsibility arising out of any negligent act or
omission of any title insurance agent with respect to any account
established under division (A) of this section shall be imputed to a
title insurance company.

(I)
The superintendent may adopt, in accordance with Chapter 119. of the
Revised Code, rules that pertain to the use of accounts established
under division (A) of this section and to the enforcement of this
section.

Sec.
4511.19.
(A)(1)
No person shall operate any vehicle, streetcar, or trackless trolley
within this state, if, at the time of the operation, any of the
following apply:

(a)
The person is under the influence of alcohol, a drug of abuse, or a
combination of them.

(b)
The person has a concentration of eight-hundredths of one per cent or
more but less than seventeen-hundredths of one per cent by weight per
unit volume of alcohol in the person's whole blood.

(c)
The person has a concentration of ninety-six-thousandths of one per
cent or more but less than two hundred four-thousandths of one per
cent by weight per unit volume of alcohol in the person's blood serum
or plasma.

(d)
The person has a concentration of eight-hundredths of one gram or
more but less than seventeen-hundredths of one gram by weight of
alcohol per two hundred ten liters of the person's breath.

(e)
The person has a concentration of eleven-hundredths of one gram or
more but less than two hundred thirty-eight-thousandths of one gram
by weight of alcohol per one hundred milliliters of the person's
urine.

(f)
The person has a concentration of seventeen-hundredths of one per
cent or more by weight per unit volume of alcohol in the person's
whole blood.

(g)
The person has a concentration of two hundred four-thousandths of one
per cent or more by weight per unit volume of alcohol in the person's
blood serum or plasma.

(h)
The person has a concentration of seventeen-hundredths of one gram or
more by weight of alcohol per two hundred ten liters of the person's
breath.

(i)
The person has a concentration of two hundred
thirty-eight-thousandths of one gram or more by weight of alcohol per
one hundred milliliters of the person's urine.

(j)
Except as provided in division (K) of this section, the person has a
concentration of any of the following controlled substances or
metabolites of a controlled substance in the person's whole blood,
blood serum or plasma, or urine that equals or exceeds any of the
following:

(i)
The person has a concentration of amphetamine in the person's urine
of at least five hundred nanograms of amphetamine per milliliter of
the person's urine or has a concentration of amphetamine in the
person's whole blood or blood serum or plasma of at least one hundred
nanograms of amphetamine per milliliter of the person's whole blood
or blood serum or plasma.

(ii)
The person has a concentration of cocaine in the person's urine of at
least one hundred fifty nanograms of cocaine per milliliter of the
person's urine or has a concentration of cocaine in the person's
whole blood or blood serum or plasma of at least fifty nanograms of
cocaine per milliliter of the person's whole blood or blood serum or
plasma.

(iii)
The person has a concentration of cocaine metabolite in the person's
urine of at least one hundred fifty nanograms of cocaine metabolite
per milliliter of the person's urine or has a concentration of
cocaine metabolite in the person's whole blood or blood serum or
plasma of at least fifty nanograms of cocaine metabolite per
milliliter of the person's whole blood or blood serum or plasma.

(iv)
The person has a concentration of heroin in the person's urine of at
least two thousand nanograms of heroin per milliliter of the person's
urine or has a concentration of heroin in the person's whole blood or
blood serum or plasma of at least fifty nanograms of heroin per
milliliter of the person's whole blood or blood serum or plasma.

(v)
The person has a concentration of heroin metabolite (6-monoacetyl
morphine) in the person's urine of at least ten nanograms of heroin
metabolite (6-monoacetyl morphine) per milliliter of the person's
urine or has a concentration of heroin metabolite (6-monoacetyl
morphine) in the person's whole blood or blood serum or plasma of at
least ten nanograms of heroin metabolite (6-monoacetyl morphine) per
milliliter of the person's whole blood or blood serum or plasma.

(vi)
The person has a concentration of L.S.D. in the person's urine of at
least twenty-five nanograms of L.S.D. per milliliter of the person's
urine or a concentration of L.S.D. in the person's whole blood or
blood serum or plasma of at least ten nanograms of L.S.D. per
milliliter of the person's whole blood or blood serum or plasma.

(vii)
The person has a concentration of marihuana in the person's urine of
at least ten nanograms of marihuana per milliliter of the person's
urine or has a concentration of marihuana in the person's whole blood
or blood serum or plasma of at least two nanograms of marihuana per
milliliter of the person's whole blood or blood serum or plasma.

(viii)
Either of the following applies:

(I)
The person is under the influence of alcohol, a drug of abuse, or a
combination of them, and the person has a concentration of marihuana
metabolite in the person's urine of at least fifteen nanograms of
marihuana metabolite per milliliter of the person's urine or has a
concentration of marihuana metabolite in the person's whole blood or
blood serum or plasma of at least five nanograms of marihuana
metabolite per milliliter of the person's whole blood or blood serum
or plasma.

(II)
The person has a concentration of marihuana metabolite in the
person's urine of at least thirty-five nanograms of marihuana
metabolite per milliliter of the person's urine or has a
concentration of marihuana metabolite in the person's whole blood or
blood serum or plasma of at least fifty nanograms of marihuana
metabolite per milliliter of the person's whole blood or blood serum
or plasma.

(ix)
The person has a concentration of methamphetamine in the person's
urine of at least five hundred nanograms of methamphetamine per
milliliter of the person's urine or has a concentration of
methamphetamine in the person's whole blood or blood serum or plasma
of at least one hundred nanograms of methamphetamine per milliliter
of the person's whole blood or blood serum or plasma.

(x)
The person has a concentration of phencyclidine in the person's urine
of at least twenty-five nanograms of phencyclidine per milliliter of
the person's urine or has a concentration of phencyclidine in the
person's whole blood or blood serum or plasma of at least ten
nanograms of phencyclidine per milliliter of the person's whole blood
or blood serum or plasma.

(xi)
The state board of pharmacy has adopted a rule pursuant to section
4729.041 of the Revised Code that specifies the amount of salvia
divinorum and the amount of salvinorin A that constitute
concentrations of salvia divinorum and salvinorin A in a person's
urine, in a person's whole blood, or in a person's blood serum or
plasma at or above which the person is impaired for purposes of
operating any vehicle, streetcar, or trackless trolley within this
state, the rule is in effect, and the person has a concentration of
salvia divinorum or salvinorin A of at least that amount so specified
by rule in the person's urine, in the person's whole blood, or in the
person's blood serum or plasma.

(2)
No person who, within twenty years of the conduct described in
division (A)(2)(a) of this section, previously has been convicted of
or pleaded guilty to a violation of this division, a violation of
division (A)(1) of this section, or any other equivalent offense
shall do both of the following:

(a)
Operate any vehicle, streetcar, or trackless trolley within this
state while under the influence of alcohol, a drug of abuse, or a
combination of them;

(b)
Subsequent to being arrested for operating the vehicle, streetcar, or
trackless trolley as described in division (A)(2)(a) of this section,
being asked by a law enforcement officer to submit to a chemical test
or tests under section 4511.191 of the Revised Code, and being
advised by the officer in accordance with section 4511.192 of the
Revised Code of the consequences of the person's refusal or
submission to the test or tests, refuse to submit to the test or
tests.

(B)
No person under twenty-one years of age shall operate any vehicle,
streetcar, or trackless trolley within this state, if, at the time of
the operation, any of the following apply:

(1)
The person has a concentration of at least two-hundredths of one per
cent but less than eight-hundredths of one per cent by weight per
unit volume of alcohol in the person's whole blood.

(2)
The person has a concentration of at least three-hundredths of one
per cent but less than ninety-six-thousandths of one per cent by
weight per unit volume of alcohol in the person's blood serum or
plasma.

(3)
The person has a concentration of at least two-hundredths of one gram
but less than eight-hundredths of one gram by weight of alcohol per
two hundred ten liters of the person's breath.

(4)
The person has a concentration of at least twenty-eight
one-thousandths of one gram but less than eleven-hundredths of one
gram by weight of alcohol per one hundred milliliters of the person's
urine.

(C)
In any proceeding arising out of one incident, a person may be
charged with a violation of division (A)(1)(a) or (A)(2) and a
violation of division (B)(1), (2), or (3) of this section, but the
person may not be convicted of more than one violation of these
divisions.

(D)(1)(a)
In any criminal prosecution or juvenile court proceeding for a
violation of division (A)(1)(a) of this section or for an equivalent
offense that is vehicle-related, the result of any test of any blood,
oral fluid, or urine withdrawn and analyzed at any health care
provider, as defined in section 2317.02 of the Revised Code, may be
admitted with expert testimony to be considered with any other
relevant and competent evidence in determining the guilt or innocence
of the defendant.

(b)
In any criminal prosecution or juvenile court proceeding for a
violation of division (A) or (B) of this section or for an equivalent
offense that is vehicle-related, the court may admit evidence on the
presence and concentration of alcohol, drugs of abuse, controlled
substances, metabolites of a controlled substance, or a combination
of them in the defendant's whole blood, blood serum or plasma,
breath, urine, oral fluid, or other bodily substance at the time of
the alleged violation as shown by chemical analysis of the substance
withdrawn within three hours of the time of the alleged violation.
The three-hour time limit specified in this division regarding the
admission of evidence does not extend or affect the two-hour time
limit specified in division (A) of section 4511.192 of the Revised
Code as the maximum period of time during which a person may consent
to a chemical test or tests as described in that section. The court
may admit evidence on the presence and concentration of alcohol,
drugs of abuse, or a combination of them as described in this
division when a person submits to a blood, breath, urine, oral fluid,
or other bodily substance test at the request of a law enforcement
officer under section 4511.191 of the Revised Code or a blood or
urine sample is obtained pursuant to a search warrant. Only a
physician, a registered nurse, an emergency medical
technician-intermediate, an emergency medical technician-paramedic,
or a qualified technician, chemist, or phlebotomist shall withdraw a
blood sample for the purpose of determining the alcohol, drug,
controlled substance, metabolite of a controlled substance, or
combination content of the whole blood, blood serum, or blood plasma.
This limitation does not apply to the taking of breath, oral fluid,
or urine specimens. A person authorized to withdraw blood under this
division may refuse to withdraw blood under this division, if in that
person's opinion, the physical welfare of the person would be
endangered by the withdrawing of blood.

The
bodily substance withdrawn under division (D)(1)(b) of this section
shall be analyzed in accordance with methods approved by the director
of health by an individual possessing a valid permit issued by the
director pursuant to section 3701.143 of the Revised Code.

(c)
As used in division (D)(1)(b) of this section, "emergency
medical technician-intermediate" and "emergency medical
technician-paramedic" have the same meanings as in section
4765.01 of the Revised Code.

(2)
In a criminal prosecution or juvenile court proceeding for a
violation of division (A) of this section or for an equivalent
offense that is vehicle-related, if there was at the time the bodily
substance was withdrawn a concentration of less than the applicable
concentration of alcohol specified in divisions (A)(1)(b), (c), (d),
and (e) of this section or less than the applicable concentration of
a listed controlled substance or a listed metabolite of a controlled
substance specified for a violation of division (A)(1)(j) of this
section, that fact may be considered with other competent evidence in
determining the guilt or innocence of the defendant. This division
does not limit or affect a criminal prosecution or juvenile court
proceeding for a violation of division (B) of this section or for an
equivalent offense that is substantially equivalent to that division.

(3)
Upon the request of the person who was tested, the results of the
chemical test shall be made available to the person or the person's
attorney, immediately upon the completion of the chemical test
analysis.

If
the chemical test was obtained pursuant to division (D)(1)(b) of this
section, the person tested may have a physician, a registered nurse,
or a qualified technician, chemist, or phlebotomist of the person's
own choosing administer a chemical test or tests, at the person's
expense, in addition to any administered at the request of a law
enforcement officer. If the person was under arrest as described in
division (A)(5) of section 4511.191 of the Revised Code, the
arresting officer shall advise the person at the time of the arrest
that the person may have an independent chemical test taken at the
person's own expense. If the person was under arrest other than
described in division (A)(5) of section 4511.191 of the Revised Code,
the form to be read to the person to be tested, as required under
section 4511.192 of the Revised Code, shall state that the person may
have an independent test performed at the person's expense. The
failure or inability to obtain an additional chemical test by a
person shall not preclude the admission of evidence relating to the
chemical test or tests taken at the request of a law enforcement
officer.

(4)(a)
As used in divisions (D)(4)(b) and (c) of this section, "national
highway traffic safety administration" means the national
highway traffic safety administration established as an
administration of the United States department of transportation
under 96 Stat. 2415 (1983), 49 U.S.C.A. 105.

(b)
In any criminal prosecution or juvenile court proceeding for a
violation of division (A) or (B) of this section, of a municipal
ordinance relating to operating a vehicle while under the influence
of alcohol, a drug of abuse, or alcohol and a drug of abuse, or of a
municipal ordinance relating to operating a vehicle with a prohibited
concentration of alcohol, a controlled substance, or a metabolite of
a controlled substance in the whole blood, blood serum or plasma,
breath, oral fluid, or urine, if a law enforcement officer has
administered a field sobriety test to the operator of the vehicle
involved in the violation and if it is shown by clear and convincing
evidence that the officer administered the test in substantial
compliance with the testing standards for any reliable, credible, and
generally accepted field sobriety tests that were in effect at the
time the tests were administered, including, but not limited to, any
testing standards then in effect that were set by the national
highway traffic safety administration, all of the following apply:

(i)
The officer may testify concerning the results of the field sobriety
test so administered.

(ii)
The prosecution may introduce the results of the field sobriety test
so administered as evidence in any proceedings in the criminal
prosecution or juvenile court proceeding.

(iii)
If testimony is presented or evidence is introduced under division
(D)(4)(b)(i) or (ii) of this section and if the testimony or evidence
is admissible under the Rules of Evidence, the court shall admit the
testimony or evidence and the trier of fact shall give it whatever
weight the trier of fact considers to be appropriate.

(c)
Division (D)(4)(b) of this section does not limit or preclude a
court, in its determination of whether the arrest of a person was
supported by probable cause or its determination of any other matter
in a criminal prosecution or juvenile court proceeding of a type
described in that division, from considering evidence or testimony
that is not otherwise disallowed by division (D)(4)(b) of this
section.

(E)(1)
Subject to division (E)(3) of this section, in any criminal
prosecution or juvenile court proceeding for a violation of division
(A)(1)(b), (c), (d), (e), (f), (g), (h), (i), or (j) or (B)(1), (2),
(3), or (4) of this section or for an equivalent offense that is
substantially equivalent to any of those divisions, a laboratory
report from any laboratory personnel issued a permit by the
department of health authorizing an analysis as described in this
division that contains an analysis of the whole blood, blood serum or
plasma, breath, urine, or other bodily substance tested and that
contains all of the information specified in this division shall be
admitted as prima-facie evidence of the information and statements
that the report contains. The laboratory report shall contain all of
the following:

(a)
The signature, under oath, of any person who performed the analysis;

(b)
Any findings as to the identity and quantity of alcohol, a drug of
abuse, a controlled substance, a metabolite of a controlled
substance, or a combination of them that was found;

(c)
A copy of a notarized statement by the laboratory director or a
designee of the director that contains the name of each certified
analyst or test performer involved with the report, the analyst's or
test performer's employment relationship with the laboratory that
issued the report, and a notation that performing an analysis of the
type involved is part of the analyst's or test performer's regular
duties;

(d)
An outline of the analyst's or test performer's education, training,
and experience in performing the type of analysis involved and a
certification that the laboratory satisfies appropriate quality
control standards in general and, in this particular analysis, under
rules of the department of health.

(2)
Notwithstanding any other provision of law regarding the admission of
evidence, a report of the type described in division (E)(1) of this
section is not admissible against the defendant to whom it pertains
in any proceeding, other than a preliminary hearing or a grand jury
proceeding, unless the prosecutor has served a copy of the report on
the defendant's attorney or, if the defendant has no attorney, on the
defendant.

(3)
A report of the type described in division (E)(1) of this section
shall not be prima-facie evidence of the contents, identity, or
amount of any substance if, within seven days after the defendant to
whom the report pertains or the defendant's attorney receives a copy
of the report, the defendant or the defendant's attorney demands the
testimony of the person who signed the report. The judge in the case
may extend the seven-day time limit in the interest of justice.

(F)
Except as otherwise provided in this division, any physician,
registered nurse, emergency medical technician-intermediate,
emergency medical technician-paramedic, or qualified technician,
chemist, or phlebotomist who withdraws blood from a person pursuant
to this section or section 4511.191 or 4511.192 of the Revised Code,
and any hospital, first-aid station, or clinic at which blood is
withdrawn from a person pursuant to this section or section 4511.191
or 4511.192 of the Revised Code, is immune from criminal liability
and civil liability based upon a claim of assault and battery or any
other claim that is not a claim of malpractice, for any act performed
in withdrawing blood from the person. The immunity provided in this
division also extends to an emergency medical service organization
that employs an emergency medical technician-intermediate or
emergency medical technician-paramedic who withdraws blood under this
section. The immunity provided in this division is not available to a
person who withdraws blood if the person engages in willful or wanton
misconduct.

As
used in this division, "emergency medical
technician-intermediate" and "emergency medical
technician-paramedic" have the same meanings as in section
4765.01 of the Revised Code.

(G)(1)
Whoever violates any provision of divisions (A)(1)(a) to (i) or
(A)(2) of this section is guilty of operating a vehicle under the
influence of alcohol, a drug of abuse, or a combination of them.
Whoever violates division (A)(1)(j) of this section is guilty of
operating a vehicle while under the influence of a listed controlled
substance or a listed metabolite of a controlled substance. The court
shall sentence the offender for either offense under Chapter 2929. of
the Revised Code, except as otherwise authorized or required by
divisions (G)(1)(a) to (e) of this section:

(a)
Except as otherwise provided in division (G)(1)(b), (c), (d), or (e)
of this section, the offender is guilty of a misdemeanor of the first
degree, and the court shall sentence the offender to all of the
following:

(i)
If the sentence is being imposed for a violation of division
(A)(1)(a), (b), (c), (d), (e), or (j) of this section, a mandatory
jail term of three consecutive days. As used in this division, three
consecutive days means seventy-two consecutive hours. The court may
sentence an offender to both an intervention program and a jail term.
The court may impose a jail term in addition to the three-day
mandatory jail term or intervention program. However, in no case
shall the cumulative jail term imposed for the offense exceed six
months.

The
court may suspend the execution of the three-day jail term under this
division if the court, in lieu of that suspended term, places the
offender under a community control sanction pursuant to section
2929.25 of the Revised Code and requires the offender to attend, for
three consecutive days, a drivers' intervention program certified
under section 5119.38 of the Revised Code. The court also may suspend
the execution of any part of the three-day jail term under this
division if it places the offender under a community control sanction
pursuant to section 2929.25 of the Revised Code for part of the three
days, requires the offender to attend for the suspended part of the
term a drivers' intervention program so certified, and sentences the
offender to a jail term equal to the remainder of the three
consecutive days that the offender does not spend attending the
program. The court may require the offender, as a condition of
community control and in addition to the required attendance at a
drivers' intervention program, to attend and satisfactorily complete
any treatment or education programs that comply with the minimum
standards adopted pursuant to Chapter 5119. of the Revised Code by
the director of mental health and addiction services that the
operators of the drivers' intervention program determine that the
offender should attend and to report periodically to the court on the
offender's progress in the programs. The court also may impose on the
offender any other conditions of community control that it considers
necessary.

If
the court grants unlimited driving privileges to a first-time
offender under section 4510.022 of the Revised Code, all penalties
imposed upon the offender by the court under division (G)(1)(a)(i) of
this section for the offense apply, except that the court shall
suspend any mandatory or additional jail term imposed by the court
under division (G)(1)(a)(i) of this section upon granting unlimited
driving privileges in accordance with section 4510.022 of the Revised
Code.

(ii)
If the sentence is being imposed for a violation of division
(A)(1)(f), (g), (h), or (i) or division (A)(2) of this section,
except as otherwise provided in this division, a mandatory jail term
of at least three consecutive days and a requirement that the
offender attend, for three consecutive days, a drivers' intervention
program that is certified pursuant to section 5119.38 of the Revised
Code. As used in this division, three consecutive days means
seventy-two consecutive hours. If the court determines that the
offender is not conducive to treatment in a drivers' intervention
program, if the offender refuses to attend a drivers' intervention
program, or if the jail at which the offender is to serve the jail
term imposed can provide a driver's intervention program, the court
shall sentence the offender to a mandatory jail term of at least six
consecutive days.

If
the court grants unlimited driving privileges to a first-time
offender under section 4510.022 of the Revised Code, all penalties
imposed upon the offender by the court under division (G)(1)(a)(ii)
of this section for the offense apply, except that the court shall
suspend any mandatory or additional jail term imposed by the court
under division (G)(1)(a)(ii) of this section upon granting unlimited
driving privileges in accordance with section 4510.022 of the Revised
Code.

The
court may require the offender, under a community control sanction
imposed under section 2929.25 of the Revised Code, to attend and
satisfactorily complete any treatment or education programs that
comply with the minimum standards adopted pursuant to Chapter 5119.
of the Revised Code by the director of mental health and addiction
services, in addition to the required attendance at drivers'
intervention program, that the operators of the drivers' intervention
program determine that the offender should attend and to report
periodically to the court on the offender's progress in the programs.
The court also may impose any other conditions of community control
on the offender that it considers necessary.

(iii)
In all cases, a fine of not less than five hundred sixty-five and not
more than one thousand seventy-five dollars;

(iv)
In all cases, a suspension of the offender's driver's or commercial
driver's license or permit or nonresident operating privilege for a
definite period of one to three years. The court may grant limited
driving privileges relative to the suspension under sections 4510.021
and 4510.13 of the Revised Code. The court may grant unlimited
driving privileges with an ignition interlock device relative to the
suspension and may reduce the period of suspension as authorized
under section 4510.022 of the Revised Code.

(b)
Except as otherwise provided in division (G)(1)(e) of this section,
an offender who, within ten years of the offense, previously has been
convicted of or pleaded guilty to one violation of division (A) of
this section or one other equivalent offense is guilty of a
misdemeanor of the first degree. The court shall sentence the
offender to all of the following:

(i)
If the sentence is being imposed for a violation of division
(A)(1)(a), (b), (c), (d), (e), or (j) of this section, a mandatory
jail term of ten consecutive days. The court shall impose the ten-day
mandatory jail term under this division unless, subject to division
(G)(3) of this section, it instead imposes a sentence under that
division consisting of both a jail term and a term of house arrest
with electronic monitoring, with continuous alcohol monitoring, or
with both electronic monitoring and continuous alcohol monitoring.
The court may impose a jail term in addition to the ten-day mandatory
jail term. The cumulative jail term imposed for the offense shall not
exceed six months.

In
addition to the jail term or the term of house arrest with electronic
monitoring or continuous alcohol monitoring or both types of
monitoring and jail term, the court shall require the offender to be
assessed by a community addiction services provider that is
authorized by section 5119.21 of the Revised Code, subject to
division (I) of this section, and shall order the offender to follow
the treatment recommendations of the services provider. The purpose
of the assessment is to determine the degree of the offender's
alcohol usage and to determine whether or not treatment is warranted.
Upon the request of the court, the services provider shall submit the
results of the assessment to the court, including all treatment
recommendations and clinical diagnoses related to alcohol use.

(ii)
If the sentence is being imposed for a violation of division
(A)(1)(f), (g), (h), or (i) or division (A)(2) of this section,
except as otherwise provided in this division, a mandatory jail term
of twenty consecutive days. The court shall impose the twenty-day
mandatory jail term under this division unless, subject to division
(G)(3) of this section, it instead imposes a sentence under that
division consisting of both a jail term and a term of house arrest
with electronic monitoring, with continuous alcohol monitoring, or
with both electronic monitoring and continuous alcohol monitoring.
The court may impose a jail term in addition to the twenty-day
mandatory jail term. The cumulative jail term imposed for the offense
shall not exceed six months.

In
addition to the jail term or the term of house arrest with electronic
monitoring or continuous alcohol monitoring or both types of
monitoring and jail term, the court shall require the offender to be
assessed by a community addiction service provider that is authorized
by section 5119.21 of the Revised Code, subject to division (I) of
this section, and shall order the offender to follow the treatment
recommendations of the services provider. The purpose of the
assessment is to determine the degree of the offender's alcohol usage
and to determine whether or not treatment is warranted. Upon the
request of the court, the services provider shall submit the results
of the assessment to the court, including all treatment
recommendations and clinical diagnoses related to alcohol use.

(iii)
In all cases, notwithstanding the fines set forth in Chapter 2929. of
the Revised Code, a fine of not less than seven hundred fifteen and
not more than one thousand six hundred twenty-five dollars;

(iv)
In all cases, a suspension of the offender's driver's license,
commercial driver's license, temporary instruction permit,
probationary license, or nonresident operating privilege for a
definite period of one to seven years. The court may grant limited
driving privileges relative to the suspension under sections 4510.021
and 4510.13 of the Revised Code.

(v)
In all cases, if the vehicle is registered in the offender's name,
immobilization of the vehicle involved in the offense for ninety days
in accordance with section 4503.233 of the Revised Code and
impoundment of the license plates of that vehicle for ninety days.

(c)
Except as otherwise provided in division (G)(1)(e) of this section,
an offender who, within ten years of the offense, previously has been
convicted of or pleaded guilty to two violations of division (A) of
this section or other equivalent offenses is guilty of a misdemeanor.
The court shall sentence the offender to all of the following:

(i)
If the sentence is being imposed for a violation of division
(A)(1)(a), (b), (c), (d), (e), or (j) of this section, a mandatory
jail term of thirty consecutive days. The court shall impose the
thirty-day mandatory jail term under this division unless, subject to
division (G)(3) of this section, it instead imposes a sentence under
that division consisting of both a jail term and a term of house
arrest with electronic monitoring, with continuous alcohol
monitoring, or with both electronic monitoring and continuous alcohol
monitoring. The court may impose a jail term in addition to the
thirty-day mandatory jail term. Notwithstanding the jail terms set
forth in sections 2929.21 to 2929.28 of the Revised Code, the
additional jail term shall not exceed one year, and the cumulative
jail term imposed for the offense shall not exceed one year.

(ii)
If the sentence is being imposed for a violation of division
(A)(1)(f), (g), (h), or (i) or division (A)(2) of this section, a
mandatory jail term of sixty consecutive days. The court shall impose
the sixty-day mandatory jail term under this division unless, subject
to division (G)(3) of this section, it instead imposes a sentence
under that division consisting of both a jail term and a term of
house arrest with electronic monitoring, with continuous alcohol
monitoring, or with both electronic monitoring and continuous alcohol
monitoring. The court may impose a jail term in addition to the
sixty-day mandatory jail term. Notwithstanding the jail terms set
forth in sections 2929.21 to 2929.28 of the Revised Code, the
additional jail term shall not exceed one year, and the cumulative
jail term imposed for the offense shall not exceed one year.

(iii)
In all cases, notwithstanding the fines set forth in Chapter 2929. of
the Revised Code, a fine of not less than one thousand forty and not
more than two thousand seven hundred fifty dollars;

(iv)
In all cases, a suspension of the offender's driver's license,
commercial driver's license, temporary instruction permit,
probationary license, or nonresident operating privilege for a
definite period of two to twelve years. The court may grant limited
driving privileges relative to the suspension under sections 4510.021
and 4510.13 of the Revised Code.

(v)
In all cases, if the vehicle is registered in the offender's name,
criminal forfeiture of the vehicle involved in the offense in
accordance with section 4503.234 of the Revised Code. Division (G)(6)
of this section applies regarding any vehicle that is subject to an
order of criminal forfeiture under this division.

(vi)
In all cases, the court shall order the offender to participate with
a community addiction services provider authorized by section 5119.21
of the Revised Code, subject to division (I) of this section, and
shall order the offender to follow the treatment recommendations of
the services provider. The operator of the services provider shall
determine and assess the degree of the offender's alcohol dependency
and shall make recommendations for treatment. Upon the request of the
court, the services provider shall submit the results of the
assessment to the court, including all treatment recommendations and
clinical diagnoses related to alcohol use.

(d)
Except as otherwise provided in division (G)(1)(e) of this section,
an offender who, within ten years of the offense, previously has been
convicted of or pleaded guilty to three or four violations of
division (A) of this section or other equivalent offenses, an
offender who, within twenty years of the offense, previously has been
convicted of or pleaded guilty to five or more violations of that
nature, or an offender who previously has been convicted of or
pleaded guilty to a specification of the type described in section
2941.1413 of the Revised Code, is guilty of a felony of the fourth
degree. The court shall sentence the offender to all of the
following:

(i)
If the sentence is being imposed for a violation of division
(A)(1)(a), (b), (c), (d), (e), or (j) of this section, a mandatory
prison term of one, two, three, four, or five years as required by
and in accordance with division (G)(2) of section 2929.13 of the
Revised Code if the offender also is convicted of or also pleads
guilty to a specification of the type described in section 2941.1413
of the Revised Code or, in the discretion of the court, either a
mandatory term of local incarceration of sixty consecutive days in
accordance with division (G)(1) of section 2929.13 of the Revised
Code or a mandatory prison term of sixty consecutive days in
accordance with division (G)(2) of that section if the offender is
not convicted of and does not plead guilty to a specification of that
type. If the court imposes a mandatory term of local incarceration,
it may impose a jail term in addition to the sixty-day mandatory
term, the cumulative total of the mandatory term and the jail term
for the offense shall not exceed one year, and, except as provided in
division (A)(1) of section 2929.13 of the Revised Code, no prison
term is authorized for the offense. If the court imposes a mandatory
prison term, notwithstanding division (A)(4) of section 2929.14 of
the Revised Code, it also may sentence the offender to a definite
prison term that shall be not less than six months and not more than
thirty months and the prison terms shall be imposed as described in
division (G)(2) of section 2929.13 of the Revised Code. If the court
imposes a mandatory prison term or mandatory prison term and
additional prison term, in addition to the term or terms so imposed,
the court also may sentence the offender to a community control
sanction for the offense, but the offender shall serve all of the
prison terms so imposed prior to serving the community control
sanction.

(ii)
If the sentence is being imposed for a violation of division
(A)(1)(f), (g), (h), or (i) or division (A)(2) of this section, a
mandatory prison term of one, two, three, four, or five years as
required by and in accordance with division (G)(2) of section 2929.13
of the Revised Code if the offender also is convicted of or also
pleads guilty to a specification of the type described in section
2941.1413 of the Revised Code or, in the discretion of the court,
either a mandatory term of local incarceration of one hundred twenty
consecutive days in accordance with division (G)(1) of section
2929.13 of the Revised Code or a mandatory prison term of one hundred
twenty consecutive days in accordance with division (G)(2) of that
section if the offender is not convicted of and does not plead guilty
to a specification of that type. If the court imposes a mandatory
term of local incarceration, it may impose a jail term in addition to
the one hundred twenty-day mandatory term, the cumulative total of
the mandatory term and the jail term for the offense shall not exceed
one year, and, except as provided in division (A)(1) of section
2929.13 of the Revised Code, no prison term is authorized for the
offense. If the court imposes a mandatory prison term,
notwithstanding division (A)(4) of section 2929.14 of the Revised
Code, it also may sentence the offender to a definite prison term
that shall be not less than six months and not more than thirty
months and the prison terms shall be imposed as described in division
(G)(2) of section 2929.13 of the Revised Code. If the court imposes a
mandatory prison term or mandatory prison term and additional prison
term, in addition to the term or terms so imposed, the court also may
sentence the offender to a community control sanction for the
offense, but the offender shall serve all of the prison terms so
imposed prior to serving the community control sanction.

(iii)
In all cases, notwithstanding section 2929.18 of the Revised Code, a
fine of not less than one thousand five hundred forty nor more than
ten thousand five hundred dollars;

(iv)
In all cases, a class two license suspension of the offender's
driver's license, commercial driver's license, temporary instruction
permit, probationary license, or nonresident operating privilege from
the range specified in division (A)(2) of section 4510.02 of the
Revised Code. The court may grant limited driving privileges relative
to the suspension under sections 4510.021 and 4510.13 of the Revised
Code.

(v)
In all cases, if the vehicle is registered in the offender's name,
criminal forfeiture of the vehicle involved in the offense in
accordance with section 4503.234 of the Revised Code. Division (G)(6)
of this section applies regarding any vehicle that is subject to an
order of criminal forfeiture under this division.

(vi)
In all cases, the court shall order the offender to participate with
a community addiction services provider authorized by section 5119.21
of the Revised Code, subject to division (I) of this section, and
shall order the offender to follow the treatment recommendations of
the services provider. The operator of the services provider shall
determine and assess the degree of the offender's alcohol dependency
and shall make recommendations for treatment. Upon the request of the
court, the services provider shall submit the results of the
assessment to the court, including all treatment recommendations and
clinical diagnoses related to alcohol use.

(vii)
In all cases, if the court sentences the offender to a mandatory term
of local incarceration, in addition to the mandatory term, the court,
pursuant to section 2929.17 of the Revised Code, may impose a term of
house arrest with electronic monitoring. The term shall not commence
until after the offender has served the mandatory term of local
incarceration.

(e)
An offender who previously has been convicted of or pleaded guilty to
a violation of division (A) of this section that was a felony,
regardless of when the violation and the conviction or guilty plea
occurred, is guilty of a felony of the third degree. The court shall
sentence the offender to all of the following:

(i)
If the offender is being sentenced for a violation of division
(A)(1)(a), (b), (c), (d), (e), or (j) of this section, a mandatory
prison term of one, two, three, four, or five years as required by
and in accordance with division (G)(2) of section 2929.13 of the
Revised Code if the offender also is convicted of or also pleads
guilty to a specification of the type described in section 2941.1413
of the Revised Code or a mandatory prison term of sixty consecutive
days in accordance with division (G)(2) of section 2929.13 of the
Revised Code if the offender is not convicted of and does not plead
guilty to a specification of that type. The court may impose a prison
term in addition to the mandatory prison term. The cumulative total
of a sixty-day mandatory prison term and the additional prison term
for the offense shall not exceed five years. In addition to the
mandatory prison term or mandatory prison term and additional prison
term the court imposes, the court also may sentence the offender to a
community control sanction for the offense, but the offender shall
serve all of the prison terms so imposed prior to serving the
community control sanction.

(ii)
If the sentence is being imposed for a violation of division
(A)(1)(f), (g), (h), or (i) or division (A)(2) of this section, a
mandatory prison term of one, two, three, four, or five years as
required by and in accordance with division (G)(2) of section 2929.13
of the Revised Code if the offender also is convicted of or also
pleads guilty to a specification of the type described in section
2941.1413 of the Revised Code or a mandatory prison term of one
hundred twenty consecutive days in accordance with division (G)(2) of
section 2929.13 of the Revised Code if the offender is not convicted
of and does not plead guilty to a specification of that type. The
court may impose a prison term in addition to the mandatory prison
term. The cumulative total of a one hundred twenty-day mandatory
prison term and the additional prison term for the offense shall not
exceed five years. In addition to the mandatory prison term or
mandatory prison term and additional prison term the court imposes,
the court also may sentence the offender to a community control
sanction for the offense, but the offender shall serve all of the
prison terms so imposed prior to serving the community control
sanction.

(iii)
In all cases, notwithstanding section 2929.18 of the Revised Code, a
fine of not less than one thousand five hundred forty nor more than
ten thousand five hundred dollars;

(iv)
In all cases, a class two license suspension of the offender's
driver's license, commercial driver's license, temporary instruction
permit, probationary license, or nonresident operating privilege from
the range specified in division (A)(2) of section 4510.02 of the
Revised Code. The court may grant limited driving privileges relative
to the suspension under sections 4510.021 and 4510.13 of the Revised
Code.

(v)
In all cases, if the vehicle is registered in the offender's name,
criminal forfeiture of the vehicle involved in the offense in
accordance with section 4503.234 of the Revised Code. Division (G)(6)
of this section applies regarding any vehicle that is subject to an
order of criminal forfeiture under this division.

(vi)
In all cases, the court shall order the offender to participate with
a community addiction services provider authorized by section 5119.21
of the Revised Code, subject to division (I) of this section, and
shall order the offender to follow the treatment recommendations of
the services provider. The operator of the services provider shall
determine and assess the degree of the offender's alcohol dependency
and shall make recommendations for treatment. Upon the request of the
court, the services provider shall submit the results of the
assessment to the court, including all treatment recommendations and
clinical diagnoses related to alcohol use.

(2)
An offender who is convicted of or pleads guilty to a violation of
division (A) of this section and who subsequently seeks reinstatement
of the driver's or occupational driver's license or permit or
nonresident operating privilege suspended under this section as a
result of the conviction or guilty plea shall pay a reinstatement fee
as provided in division (F)(2) of section 4511.191 of the Revised
Code.

(3)
If an offender is sentenced to a jail term under division
(G)(1)(b)(i) or (ii) or (G)(1)(c)(i) or (ii) of this section and if,
within sixty days of sentencing of the offender, the court issues a
written finding on the record that, due to the unavailability of
space at the jail where the offender is required to serve the term,
the offender will not be able to begin serving that term within the
sixty-day period following the date of sentencing, the court may
impose an alternative sentence under this division that includes a
term of house arrest with electronic monitoring, with continuous
alcohol monitoring, or with both electronic monitoring and continuous
alcohol monitoring.

As
an alternative to a mandatory jail term of ten consecutive days
required by division (G)(1)(b)(i) of this section, the court, under
this division, may sentence the offender to five consecutive days in
jail and not less than eighteen consecutive days of house arrest with
electronic monitoring, with continuous alcohol monitoring, or with
both electronic monitoring and continuous alcohol monitoring. The
cumulative total of the five consecutive days in jail and the period
of house arrest with electronic monitoring, continuous alcohol
monitoring, or both types of monitoring shall not exceed six months.
The five consecutive days in jail do not have to be served prior to
or consecutively to the period of house arrest.

As
an alternative to the mandatory jail term of twenty consecutive days
required by division (G)(1)(b)(ii) of this section, the court, under
this division, may sentence the offender to ten consecutive days in
jail and not less than thirty-six consecutive days of house arrest
with electronic monitoring, with continuous alcohol monitoring, or
with both electronic monitoring and continuous alcohol monitoring.
The cumulative total of the ten consecutive days in jail and the
period of house arrest with electronic monitoring, continuous alcohol
monitoring, or both types of monitoring shall not exceed six months.
The ten consecutive days in jail do not have to be served prior to or
consecutively to the period of house arrest.

As
an alternative to a mandatory jail term of thirty consecutive days
required by division (G)(1)(c)(i) of this section, the court, under
this division, may sentence the offender to fifteen consecutive days
in jail and not less than fifty-five consecutive days of house arrest
with electronic monitoring, with continuous alcohol monitoring, or
with both electronic monitoring and continuous alcohol monitoring.
The cumulative total of the fifteen consecutive days in jail and the
period of house arrest with electronic monitoring, continuous alcohol
monitoring, or both types of monitoring shall not exceed one year.
The fifteen consecutive days in jail do not have to be served prior
to or consecutively to the period of house arrest.

As
an alternative to the mandatory jail term of sixty consecutive days
required by division (G)(1)(c)(ii) of this section, the court, under
this division, may sentence the offender to thirty consecutive days
in jail and not less than one hundred ten consecutive days of house
arrest with electronic monitoring, with continuous alcohol
monitoring, or with both electronic monitoring and continuous alcohol
monitoring. The cumulative total of the thirty consecutive days in
jail and the period of house arrest with electronic monitoring,
continuous alcohol monitoring, or both types of monitoring shall not
exceed one year. The thirty consecutive days in jail do not have to
be served prior to or consecutively to the period of house arrest.

(4)
If an offender's driver's or occupational driver's license or permit
or nonresident operating privilege is suspended under division (G) of
this section and if section 4510.13 of the Revised Code permits the
court to grant limited driving privileges, the court may grant the
limited driving privileges in accordance with that section. If
division (A)(7) of that section requires that the court impose as a
condition of the privileges that the offender must display on the
vehicle that is driven subject to the privileges restricted license
plates that are issued under section 4503.231 of the Revised Code,
except as provided in division (B) of that section, the court shall
impose that condition as one of the conditions of the limited driving
privileges granted to the offender, except as provided in division
(B) of section 4503.231 of the Revised Code.

(5)
Fines imposed under this section for a violation of division (A) of
this section shall be distributed as follows:

(a)
Twenty-five dollars of the fine imposed under division
(G)(1)(a)(iii), thirty-five dollars of the fine imposed under
division (G)(1)(b)(iii), one hundred twenty-three dollars of the fine
imposed under division (G)(1)(c)(iii), and two hundred ten dollars of
the fine imposed under division (G)(1)(d)(iii) or (e)(iii) of this
section shall be paid to an enforcement and education fund
established by the legislative authority of the law enforcement
agency in this state that primarily was responsible for the arrest of
the offender, as determined by the court that imposes the fine. The
agency shall use this share to pay only those costs it incurs in
enforcing this section or a municipal OVI ordinance and in informing
the public of the laws governing the operation of a vehicle while
under the influence of alcohol, the dangers of the operation of a
vehicle under the influence of alcohol, and other information
relating to the operation of a vehicle under the influence of alcohol
and the consumption of alcoholic beverages.

(b)
Fifty dollars of the fine imposed under division (G)(1)(a)(iii) of
this section shall be paid to the political subdivision that pays the
cost of housing the offender during the offender's term of
incarceration. If the offender is being sentenced for a violation of
division (A)(1)(a), (b), (c), (d), (e), or (j) of this section and
was confined as a result of the offense prior to being sentenced for
the offense but is not sentenced to a term of incarceration, the
fifty dollars shall be paid to the political subdivision that paid
the cost of housing the offender during that period of confinement.
The political subdivision shall use the share under this division to
pay or reimburse incarceration or treatment costs it incurs in
housing or providing drug and alcohol treatment to persons who
violate this section or a municipal OVI ordinance, costs of any
immobilizing or disabling device used on the offender's vehicle, and
costs of electronic house arrest equipment needed for persons who
violate this section.

(c)
Twenty-five dollars of the fine imposed under division (G)(1)(a)(iii)
and fifty dollars of the fine imposed under division (G)(1)(b)(iii)
of this section shall be deposited into the county or municipal
indigent drivers' alcohol treatment fund under the control of that
court, as created by the county or municipal corporation under
division (H) of section 4511.191 of the Revised Code.

(d)
One hundred fifteen dollars of the fine imposed under division
(G)(1)(b)(iii), two hundred seventy-seven dollars of the fine imposed
under division (G)(1)(c)(iii), and four hundred forty dollars of the
fine imposed under division (G)(1)(d)(iii) or (e)(iii) of this
section shall be paid to the political subdivision that pays the cost
of housing the offender during the offender's term of incarceration.
The political subdivision shall use this share to pay or reimburse
incarceration or treatment costs it incurs in housing or providing
drug and alcohol treatment to persons who violate this section or a
municipal OVI ordinance, costs for any immobilizing or disabling
device used on the offender's vehicle, and costs of electronic house
arrest equipment needed for persons who violate this section.

(e)
One hundred twenty-five dollars of the fine imposed under divisions
(G)(1)(a)(iii), (G)(1)(b)(iii), (G)(1)(c)(iii), (G)(1)(d)(iii), and
(G)(1)(e)(iii) of this section shall be deposited into the special
projects fund of the court in which the offender was convicted and
that is established under division (E)(1) of section 2303.201,
division (B)(1) of section 1901.26, or division (B)(1) of section
1907.24 of the Revised Code, to be used exclusively to cover the cost
of immobilizing or disabling devices, including certified ignition
interlock devices, and remote alcohol monitoring devices for indigent
offenders who are required by a judge to use either of these devices.
If the court in which the offender was convicted does not have a
special projects fund that is established under division (E)(1) of
section 2303.201, division (B)(1) of section 1901.26, or division
(B)(1) of section 1907.24 of the Revised Code, the one hundred
twenty-five dollars shall be
deposited

transmitted
to the treasurer of state for deposit
into
the indigent drivers interlock and alcohol monitoring fund under
division (I) of section 4511.191 of the Revised Code.

(f)
Seventy-five dollars of the fine imposed under division
(G)(1)(a)(iii), one hundred twenty-five dollars of the fine imposed
under division (G)(1)(b)(iii), two hundred fifty dollars of the fine
imposed under division (G)(1)(c)(iii), and five hundred dollars of
the fine imposed under division (G)(1)(d)(iii) or (e)(iii) of this
section shall be transmitted to the treasurer of state for deposit
into the indigent defense support fund established under section
120.08 of the Revised Code.

(g)
One hundred fifteen dollars shall be
credited

transmitted

to

the
treasurer of state for deposit into
the
statewide treatment and prevention fund created by section 4301.30 of
the Revised Code. Money credited to the fund under this section shall
be used for purposes identified under section 5119.22 of the Revised
Code.

(h)
The balance of the fine imposed under division (G)(1)(a)(iii),
(b)(iii), (c)(iii), (d)(iii), or (e)(iii) of this section shall be
disbursed as otherwise provided by law.

(6)
If title to a motor vehicle that is subject to an order of criminal
forfeiture under division (G)(1)(c), (d), or (e) of this section is
assigned or transferred and division (B)(2) or (3) of section
4503.234 of the Revised Code applies, in addition to or independent
of any other penalty established by law, the court may fine the
offender the value of the vehicle as determined by publications of
the national automobile dealers association. The proceeds of any fine
so imposed shall be distributed in accordance with division (C)(2) of
that section.

(7)
In all cases in which an offender is sentenced under division (G) of
this section, the offender shall provide the court with proof of
financial responsibility as defined in section 4509.01 of the Revised
Code. If the offender fails to provide that proof of financial
responsibility, the court, in addition to any other penalties
provided by law, may order restitution pursuant to section 2929.18 or
2929.28 of the Revised Code in an amount not exceeding five thousand
dollars for any economic loss arising from an accident or collision
that was the direct and proximate result of the offender's operation
of the vehicle before, during, or after committing the offense for
which the offender is sentenced under division (G) of this section.

(8)
A court may order an offender to reimburse a law enforcement agency
for any costs incurred by the agency with respect to a chemical test
or tests administered to the offender if all of the following apply:

(a)
The offender is convicted of or pleads guilty to a violation of
division (A) of this section.

(b)
The test or tests were of the offender's whole blood, blood serum or
plasma, oral fluid, or urine.

(c)
The test or tests indicated that the offender had one of the
following at the time of the offense:

(i)
A prohibited concentration of a controlled substance or a metabolite
of a controlled substance in the offender's whole blood, blood serum
or plasma, or urine;

(ii)
A drug of abuse or a metabolite of a drug of abuse in the offender's
oral fluid.

(9)
A court may warn any person who is convicted of or who pleads guilty
to a violation of division (A) of this section or an equivalent
offense that a subsequent violation of this section or an equivalent
offense that results in the death of another or the unlawful
termination of another's pregnancy may result in the person being
guilty of aggravated vehicular homicide under section 2903.06 of the
Revised Code. The court may warn the person of the applicable
penalties for that violation under sections 2903.06 and 2929.142 of
the Revised Code.

(10)
As used in division (G) of this section, "electronic
monitoring," "mandatory prison term," and "mandatory
term of local incarceration" have the same meanings as in
section 2929.01 of the Revised Code.

(H)
Whoever violates division (B) of this section is guilty of operating
a vehicle after underage alcohol consumption and shall be punished as
follows:

(1)
Except as otherwise provided in division (H)(2) of this section, the
offender is guilty of a misdemeanor of the fourth degree. In addition
to any other sanction imposed for the offense, the court shall impose
a class six suspension of the offender's driver's license, commercial
driver's license, temporary instruction permit, probationary license,
or nonresident operating privilege from the range specified in
division (A)(6) of section 4510.02 of the Revised Code. The court may
grant limited driving privileges relative to the suspension under
sections 4510.021 and 4510.13 of the Revised Code. The court may
grant unlimited driving privileges with an ignition interlock device
relative to the suspension and may reduce the period of suspension as
authorized under section 4510.022 of the Revised Code. If the court
grants unlimited driving privileges under section 4510.022 of the
Revised Code, the court shall suspend any jail term imposed under
division (H)(1) of this section as required under that section.

(2)
If, within one year of the offense, the offender previously has been
convicted of or pleaded guilty to one or more violations of division
(A) of this section or other equivalent offenses, the offender is
guilty of a misdemeanor of the third degree. In addition to any other
sanction imposed for the offense, the court shall impose a class four
suspension of the offender's driver's license, commercial driver's
license, temporary instruction permit, probationary license, or
nonresident operating privilege from the range specified in division
(A)(4) of section 4510.02 of the Revised Code. The court may grant
limited driving privileges relative to the suspension under sections
4510.021 and 4510.13 of the Revised Code.

(3)
The offender shall provide the court with proof of financial
responsibility as defined in section 4509.01 of the Revised Code. If
the offender fails to provide that proof of financial responsibility,
then, in addition to any other penalties provided by law, the court
may order restitution pursuant to section 2929.28 of the Revised Code
in an amount not exceeding five thousand dollars for any economic
loss arising from an accident or collision that was the direct and
proximate result of the offender's operation of the vehicle before,
during, or after committing the violation of division (B) of this
section.

(I)(1)
No court shall sentence an offender to an alcohol treatment program
under this section unless the treatment program complies with the
minimum standards for alcohol treatment programs adopted under
Chapter 5119. of the Revised Code by the director of mental health
and addiction services.

(2)
An offender who stays in a drivers' intervention program or in an
alcohol treatment program under an order issued under this section
shall pay the cost of the stay in the program. However, if the court
determines that an offender who stays in an alcohol treatment program
under an order issued under this section is unable to pay the cost of
the stay in the program, the court may order that the cost be paid
from the court's indigent drivers' alcohol treatment fund.

(J)
If a person whose driver's or commercial driver's license or permit
or nonresident operating privilege is suspended under this section
files an appeal regarding any aspect of the person's trial or
sentence, the appeal itself does not stay the operation of the
suspension.

(K)
Division (A)(1)(j) of this section does not apply to a person who
operates a vehicle, streetcar, or trackless trolley while the person
has a concentration of a listed controlled substance or a listed
metabolite of a controlled substance in the person's whole blood,
blood serum or plasma, or urine that equals or exceeds the amount
specified in that division, if both of the following apply:

(1)
The person obtained the controlled substance pursuant to a
prescription issued by a licensed health professional authorized to
prescribe drugs.

(2)
The person injected, ingested, or inhaled the controlled substance in
accordance with the health professional's directions.

(L)
The prohibited concentrations of a controlled substance or a
metabolite of a controlled substance listed in division (A)(1)(j) of
this section also apply in a prosecution of a violation of division
(D) of section 2923.16 of the Revised Code in the same manner as if
the offender is being prosecuted for a prohibited concentration of
alcohol.

(M)
All terms defined in section 4510.01 of the Revised Code apply to
this section. If the meaning of a term defined in section 4510.01 of
the Revised Code conflicts with the meaning of the same term as
defined in section 4501.01 or 4511.01 of the Revised Code, the term
as defined in section 4510.01 of the Revised Code applies to this
section.

(N)(1)
The Ohio Traffic Rules in effect on January 1, 2004, as adopted by
the supreme court under authority of section 2937.46 of the Revised
Code, do not apply to felony violations of this section. Subject to
division (N)(2) of this section, the Rules of Criminal Procedure
apply to felony violations of this section.

(2)
If, on or after January 1, 2004, the supreme court modifies the Ohio
Traffic Rules to provide procedures to govern felony violations of
this section, the modified rules shall apply to felony violations of
this section.

Sec.
4705.09.
(A)(1)
Any person admitted to the practice of law in this state by order of
the supreme court in accordance with its prescribed and published
rules, or any law firm or legal professional association, may
establish and maintain an interest-bearing trust account, for
purposes of depositing client funds held by the attorney, firm, or
association that are nominal in amount or are to be held by the
attorney, firm, or association for a short period of time, with any
bank, savings bank, or savings and loan association that is
authorized to do business in this state and is insured by the federal
deposit insurance corporation or the successor to that corporation,
or any credit union insured by the national credit union
administration operating under the "Federal Credit Union Act,"
84 Stat. 994 (1970), 12 U.S.C. 1751, or insured by a credit union
share guaranty corporation established under Chapter 1761. of the
Revised Code. Each account established under this division shall be
in the name of the attorney, firm, or association that established
and is maintaining it and shall be identified as an IOLTA or an
interest on lawyer's trust account. The name of the account may
contain additional identifying features to distinguish it from other
trust accounts established and maintained by the attorney, firm, or
association.

(2)
Each attorney who receives funds belonging to a client shall do one
of the following:

(a)
Establish and maintain one or more interest-bearing trust accounts in
accordance with division (A)(1) of this section or maintain one or
more interest-bearing trust accounts previously established in
accordance with that division, and deposit all client funds held that
are nominal in amount or are to be held by the attorney for a short
period of time in the account or accounts;

(b)
If the attorney is affiliated with a law firm or legal professional
association, comply with division (A)(2)(a) of this section or
deposit all client funds held that are nominal in amount or are to be
held by the attorney for a short period of time in one or more
interest-bearing trust accounts established and maintained by the
firm or association in accordance with division (A)(1) of this
section.

(3)
No funds belonging to any attorney, firm, or legal professional
association shall be deposited in any interest-bearing trust account
established under division (A)(1) or (2) of this section, except that
funds sufficient to pay or enable a waiver of depository institution
service charges on the account shall be deposited in the account and
other funds belonging to the attorney, firm, or association may be
deposited as authorized by the Code of Professional Responsibility
adopted by the supreme court. The determinations of whether funds
held are nominal or more than nominal in amount and of whether funds
are to be held for a short period or longer than a short period of
time rests in the sound judgment of the particular attorney. No
imputation of professional misconduct shall arise from the attorney's
exercise of judgment in these matters.

(B)
All interest earned on funds deposited in an interest-bearing trust
account established under division (A)(1) or (2) of this section
shall be transmitted to the
treasurer
of
state

public
defender
for
deposit in the legal aid fund established under section 120.52 of the
Revised Code. No part of the interest earned on funds deposited in an
interest-bearing trust account established under division (A)(1) or
(2) of this section shall be paid to, or inure to the benefit of, the
attorney, the attorney's law firm or legal professional association,
the client or other person who owns or has a beneficial ownership of
the funds deposited, or any other person other than in accordance
with this section, section 4705.10, and sections 120.51 to 120.55 of
the Revised Code.

(C)
No liability arising out of any act or omission by any attorney, law
firm, or legal professional association with respect to any
interest-bearing trust account established under division (A)(1) or
(2) of this section shall be imputed to the depository institution.

(D)
The supreme court may adopt and enforce rules of professional conduct
that pertain to the use, by attorneys, law firms, or legal
professional associations, of interest-bearing trust accounts
established under division (A)(1) or (2) of this section, and that
pertain to the enforcement of division (A)(2) of this section. Any
rules adopted by the supreme court under this authority shall conform
to the provisions of this section, section 4705.10, and sections
120.51 to 120.55 of the Revised Code.

Sec.
4705.10.
(A)
All of the following apply to an interest-bearing trust account
established under authority of section 4705.09 of the Revised Code:

(1)
All funds in the account shall be subject to withdrawal upon request
and without delay, or as soon as is permitted by federal law;

(2)
The rate of interest payable on the account shall not be less than
the rate paid by the depository institution to regular, nonattorney
depositors. Higher rates offered by the institution to customers
whose deposits exceed certain time or quantity qualifications, such
as those offered in the form of certificates of deposit, may be
obtained by a person or law firm establishing the account if there is
no impairment of the right to withdraw or transfer principal
immediately.

(3)
The depository institution shall be directed, by the person or law
firm establishing the account, to do all of the following:

(a)
Remit interest or dividends, whichever is applicable, on the average
monthly balance in the account or as otherwise computed in accordance
with the institution's standard accounting practice, less reasonable
service charges, to the
treasurer
of
state

public
defender
at
least quarterly for deposit in the legal aid fund established under
section 120.52 of the Revised Code;

(b)
Transmit to the
treasurer
of
state

public defender
,
upon its request, to the Ohio access to justice foundation, and the
depositing attorney, law firm, or legal professional association upon
the attorney's, firm's, or association's request, at the time of each
remittance required by division (A)(3)(a) of this section, a
statement showing the name of the attorney for whom or the law firm
or legal professional association for which the remittance is sent,
the rate of interest applied, the accounting period, the net amount
remitted to the
treasurer
of
state

public defender

for each account, the total remitted, the average account balance for
each month of the period for which the report is made, and the amount
deducted for service charges;

(4)
The depository institution shall notify the office of disciplinary
counsel or other entity designated by the supreme court on each
occasion when a properly payable instrument is presented for payment
from the account, and the account contains insufficient funds. The
depository institution shall provide this notice without regard to
whether the instrument is honored by the depository institution. The
depository institution shall provide the notice described in division
(A)(4) of this section by electronic or other means within five
banking days of the date that the instrument was honored or returned
as dishonored. The notice shall contain all of the following:

(a)
The name and address of the depository institution;

(b)
The name and address of the lawyer, law firm, or legal professional
association that maintains the account;

(c)
The account number and either the amount of the overdraft and the
date issued or the amount of the dishonored instrument and the date
returned.

(B)(1)
The statements and reports of individual depositor information made
under divisions (A)(3) and (4) of this section are confidential and
shall be used only for purposes of administering the legal aid fund
and for enforcement of the rules of professional conduct adopted by
the supreme court.

(2)
A depository institution may charge the lawyer, law firm, or legal
professional association that maintains the account with fees
associated with producing and mailing a notice required by division
(A)(4) of this section but shall not deduct such fees from the
interest earned on the account.

Sec.
5528.54.
(A)
The commissioners of the sinking fund are authorized to issue and
sell, as provided in this section and in amounts from time to time
authorized by the general assembly, general obligations of this state
for the purpose of financing or assisting in the financing of the
costs of projects. The full faith and credit, revenues, and taxing
power of the state are and shall be pledged to the timely payment of
bond service charges on outstanding obligations, all in accordance
with Section 2m of Article VIII, Ohio Constitution, and sections
5528.51 to 5528.53 of the Revised Code, and so long as such
obligations are outstanding there shall be levied and collected
excises, taxes, and other revenues in amounts sufficient to pay the
bond service charges on such obligations and costs relating to credit
enhancement facilities.

(B)
Not more than two hundred twenty million dollars principal amount of
obligations, plus the principal amount of obligations that in any
prior fiscal years could have been, but were not issued within that
two-hundred-twenty-million-dollar fiscal year limit, may be issued in
any fiscal year, and not more than one billion two hundred million
dollars principal amount of obligations may be outstanding at any one
time, all determined as provided in sections 5528.51 to 5528.53 of
the Revised Code.

(C)
The state may participate in financing projects by grants, loans, or
contributions to local government entities.

(D)
Each issue of obligations shall be authorized by resolution of the
commissioners. The bond proceedings shall provide for the principal
amount or maximum principal amount of obligations of an issue, and
shall provide for or authorize the manner for determining the
principal maturity or maturities, not exceeding the earlier of thirty
years from the date of issuance of the particular obligations or
thirty years from the date the debt represented by the particular
obligations was originally contracted, the interest rate or rates,
the date of and the dates of payment of interest on the obligations,
their denominations, and the establishment within or outside the
state of a place or places of payment of bond service charges.
Sections 9.96, 9.98, 9.981, 9.982, and 9.983 of the Revised Code are
applicable to the obligations. The purpose of the obligations may be
stated in the bond proceedings as "financing or assisting in the
financing of highway capital improvement projects as provided in
Section 2m of Article VIII, Ohio Constitution."

(E)
The proceeds of the obligations, except for any portion to be
deposited into special funds, or into escrow funds for the purpose of
refunding outstanding obligations, all as may be provided in the bond
proceedings, shall be deposited into the highway capital improvement
fund established by section 5528.53 of the Revised Code.

(F)
The commissioners may appoint or provide for the appointment of
paying agents, bond registrars, securities depositories, and transfer
agents, and may retain the services of financial advisers and
accounting experts, and retain or contract for the services of
marketing, remarketing, indexing, and administrative agents, other
consultants, and independent contractors, including printing
services, as are necessary in the judgment of the commissioners to
carry out sections 5528.51 to 5528.53 of the Revised Code. Financing
costs are payable, as provided in the bond proceedings, from the
proceeds of the obligations, from special funds, or from other moneys
available for the purpose.

(G)
The bond proceedings, including any trust agreement, may contain
additional provisions customary or appropriate to the financing or to
the obligations or to particular obligations including, but not
limited to:

(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
at such price or prices and under such terms and conditions as are
provided in the bond proceedings;

(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 otherwise applicable provisions of Chapter 131. or 135. of the
Revised Code, but subject to any special provisions of this section
with respect to particular funds or moneys, and provided that any
bank or trust company that acts as a depository of any moneys in
special funds may furnish such indemnifying bonds or may pledge such
securities as required by the commissioners;

(4)
Any or every provision of the bond proceedings binding upon the
commissioners and such state agency or local government entities,
officer, board, commission, authority, agency, department, or other
person or body as may from time to time have the authority under law
to take such actions as may be necessary to perform all or any part
of the duty required by such provision;

(5)
The maintenance of each pledge, any trust agreement, or other
instrument composing part of the bond proceedings until the state has
fully paid or provided for the payment of the bond service charges 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 any other agreement of the commissioners made as
part of a contract under which the obligations were issued or
secured, the enforcement of such payments or agreements by mandamus,
suit in equity, action at law, or any combination of the foregoing;

(7)
The rights and remedies of the holders of obligations and of the
trustee under any trust agreement, and provisions for protecting and
enforcing them, including limitations on rights of individual holders
of obligations;

(8)
The replacement of any obligations that become mutilated or are
destroyed, lost, or stolen;

(9)
Provision for the funding, refunding, or advance refunding or other
provision for payment of obligations that will then no longer be
outstanding for purposes of sections 5528.51 to 5528.56 of the
Revised Code or of the bond proceedings;

(10)
Any provision that may be made in bond proceedings or a trust
agreement, including provision for amendment of the bond proceedings;

(11)
Any other or additional agreements with the holders of the
obligations relating to any of the foregoing;

(12)
Such other provisions as the commissioners determine, including
limitations, conditions, or qualifications relating to any of the
foregoing.

(H)
The great seal of the state or a facsimile of that seal may be
affixed to or printed on the obligations. The obligations requiring
signatures by the commissioners shall be signed by or bear the
facsimile signatures of two or more of the commissioners as provided
in the bond proceedings. Any obligations may be signed by the person
who, on the date of execution, is the authorized signer although on
the date of such obligations such person was not a commissioner. In
case the individual whose signature or a facsimile of whose signature
appears on any obligation ceases to be a commissioner before delivery
of the obligation, such signature or facsimile is nevertheless valid
and sufficient for all purposes as if that individual had remained
the member until such delivery, and in case the seal to be affixed to
or printed on obligations has been changed after the seal has been
affixed to or a facsimile of the seal has been printed on the
obligations, that seal or facsimile seal shall continue to be
sufficient as to those obligations and obligations issued in
substitution or exchange therefor.

(I)
The obligations are negotiable instruments and securities under
Chapter 1308. of the Revised Code, subject to the provisions of the
bond proceedings as to registration. Obligations may be issued in
coupon or in fully registered form, or both, as the commissioners
determine. Provision may be made for the registration of any
obligations with coupons attached as to principal alone or as to both
principal and interest, their exchange for obligations so registered,
and for the conversion or reconversion into obligations with coupons
attached of any obligations registered as to both principal and
interest, and for reasonable charges for such registration, exchange,
conversion, and reconversion. Pending preparation of definitive
obligations, the commissioners may issue interim receipts or
certificates which shall be exchanged for such definitive
obligations.

(J)
Obligations may be sold at public sale or at private sale, and at
such price at, above, or below par, as determined by the
commissioners in the bond proceedings.

(K)
In the discretion of the commissioners, obligations may be secured
additionally by a trust agreement between the state and a corporate
trustee which may be any trust company or bank having a place of
business within the state. Any trust agreement may contain the
resolution authorizing the issuance of the obligations, any
provisions that may be contained in the bond proceedings, and other
provisions that are customary or appropriate in an agreement of the
type.

(L)
Except to the extent that their rights are restricted by the bond
proceedings, any holder of obligations, or a trustee under the bond
proceedings may by any suitable form of legal proceedings protect and
enforce any rights under the laws of this state or granted by the
bond proceedings. Such rights include the right to compel the
performance of all duties of the commissioners and the state. Each
duty of the commissioners and its employees, and of each state agency
and local government entity and its officers, members, or employees,
undertaken pursuant to the bond proceedings, is hereby established as
a duty of the commissioners, and of each such agency, local
government entity, officer, member, or employee having authority to
perform such duty, specifically enjoined by the law and resulting
from an office, trust, or station within the meaning of section
2731.01 of the Revised Code. The persons who are at the time the
commissioners of the sinking fund, or its employees, are not liable
in their personal capacities on any obligations or any agreements of
or with the commissioners relating to obligations or under the bond
proceedings.

(M)
Obligations are lawful investments for banks, societies for savings,
savings and loan associations, deposit guarantee associations, 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 political subdivisions and taxing districts of this
state, the commissioners of the sinking fund, the administrator of
workers' compensation, subject to the approval of the workers'
compensation board and the industrial commission, 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 thereto by any state agency with respect to
investments by them, and are also acceptable as security for the
deposit of public moneys.

(N)
Unless otherwise provided in any applicable bond proceedings, moneys
to the credit of or in the special funds established by or pursuant
to this section may be invested by or on behalf of the commissioners
only in notes, bonds, or other direct obligations of the United
States or of any agency or instrumentality thereof, in obligations of
this state or any political subdivision of this state, in
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, in the Ohio subdivision's fund established pursuant to
section
135.45

113.07

of
the Revised Code, in no-front-end-load money market mutual funds
consisting exclusively of direct obligations of the United States or
of an agency or instrumentality thereof, and in repurchase
agreements, including those issued by any fiduciary, secured by
direct obligations of the United States or an agency or
instrumentality thereof, and in common trust funds established in
accordance with section 1109.20 of the Revised Code and consisting
exclusively of direct obligations of the United States or of an
agency or instrumentality thereof, notwithstanding division (A)(4) of
that section. The income from investments shall be credited to such
special funds or otherwise as the commissioners determine in the bond
proceedings, and the investments may be sold or exchanged at such
times as the commissioners determine or authorize.

(O)
Unless otherwise provided in any applicable bond proceedings, moneys
to the credit of or in a special fund shall be disbursed on the order
of the commissioners, provided that no such order is required for the
payment from the bond service fund or other special fund when due of
bond service charges or required payments under credit enhancement
facilities.

(P)
The commissioners may covenant in the bond proceedings, and any such
covenants 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 charged and collected taxes,
excises, and other receipts of the state so that the receipts to the
bond service fund shall be sufficient in amounts to meet bond service
charges and for the establishment and maintenance of any reserves and
other requirements, including payment of financing costs, provided
for in the bond proceedings.

(Q)
The obligations, and the transfer of, and the interest, interest
equivalent, and other income and accreted amounts from, including any
profit made on the sale, exchange, or other disposition of, the
obligations shall at all times be free from taxation, direct or
indirect, within the state.

(R)
This section applies only with respect to obligations issued and
delivered prior to September 30, 2000.

Sec.
5725.22.
(A)
The treasurer of state shall maintain a list of taxes levied by
section 5725.18 of the Revised Code and certified for assessment by
the superintendent of insurance pursuant to section 5725.20 of the
Revised Code.

(B)
The treasurer of state shall collect, and the taxpayer shall pay, all
taxes levied under section 5725.18 of the Revised Code and any
interest applicable thereto. Payments
may

shall

be
made electronically
or
by any other means authorized
as
prescribed
by
the treasurer of state.
Whenever
the superintendent of insurance submits an electronic call for data,
the treasurer of state shall electronically submit to the
superintendent the data requested, including the amount of taxes
collected and the name of the domestic insurance company from whom
collected.
The
treasurer of state may adopt rules concerning the methods and
timeliness of payments under this division.

(C)
Each tax bill issued pursuant to this section shall separately
reflect the taxes due, interest, if any, due date, and any other
information considered necessary. The last day on which payment may
be made without penalty shall be the fifteenth day of June, unless
that day is not a business day as defined in section 5709.40 of the
Revised Code, in which case the payment may be made on the next
business day. The treasurer of state shall issue the tax bill to the
taxpayer electronically through the department of insurance's web
site.

The
treasurer of state shall refund taxes as provided in this section,
but no refund shall be made to a taxpayer having a delinquent claim
certified pursuant to this section that remains unpaid. The treasurer
of state may consult the attorney general regarding such claims.
Refunds shall be paid from the tax refund fund created by section
5703.052 of the Revised Code.

(D)(1)
Unless an exigency exists, the treasurer of state shall issue a tax
bill within twenty days after receipt of an assessment certified by
the superintendent of insurance under section 5725.20 of the Revised
Code, but if such assessment reflects a late filed tax return, the
treasurer of state shall add interest as provided in division (A) of
section 5725.221 of the Revised Code and issue a tax bill. In the
case of an exigency, the treasurer of state shall issue the tax bill
as soon as possible and may extend the due date for payment of the
tax prescribed by division (C) of this section.

(2)
After receipt of any amended or final assessment of taxes received
from the superintendent of insurance pursuant to section 5725.20 of
the Revised Code, the treasurer of state shall ascertain the
difference between the total taxes computed on such assessment and
the total taxes computed on the most recent assessment certified for
the same tax year. If the difference is a deficiency

and that deficiency is greater than one dollar
,
the treasurer of state shall add interest as provided in division
(B)(1) of section 5725.221 of the Revised Code and issue a tax bill,
with payment due thirty days after the date
of

the
bill is issued. If the difference is an excess

of more than one dollar
,
the treasurer of state shall add interest as provided in division
(B)(2) of section 5725.221 of the Revised Code and certify the name
of the taxpayer and the amount to be refunded to the director of
budget and management for payment to the taxpayer. If the taxpayer
has a deficiency for one tax year and an excess for another tax year,
or any combination thereof for more than two tax years, the treasurer
of state may determine the net result after adding interest, if
applicable, and,
depending
on
if

such
result

is greater than one dollar
,
proceed to issue a tax bill or certify a refund
,
as applicable
.

(E)

Except
as otherwise provided in this division, the treasurer of state may
cancel a debt owed to the state arising from the tax imposed by
section 5725.18 of the Revised Code, including any interest arising
from such tax, if the total amount of the debt does not exceed fifty
dollars. The treasurer of state shall not cancel any debt that has
been certified to the attorney general under division (F) of this
section.

(F)

If
a taxpayer fails to pay all taxes and interest, if any, on or before
the due date shown on the tax bill issued by the treasurer of state,

and
if that unpaid amount has not been canceled pursuant to division (E)
of this section,
the
treasurer of state shall add a penalty equal to five hundred dollars
for each month the taxpayer fails to pay all taxes and interest due.
The treasurer of state may add an additional penalty, not to exceed
ten per cent of the taxes and interest due, if the taxpayer fails to
demonstrate that the taxpayer made a good faith effort to pay all
taxes and interest on or before the due date shown on the tax bill.

The

Unless
a delinquent amount is canceled pursuant to division (E) of this
section, the
treasurer
of state shall prepare a delinquent claim for each tax bill on which
penalties were added and certify such claims to the attorney general
for collection. The attorney general shall transmit a copy of each
claim certified by the treasurer of state to the superintendent of
insurance. For each claim certified by the treasurer of state, the
attorney general shall proceed to collect the delinquent taxes,
penalties, and interest thereon in the manner prescribed by law.

(G)
Whenever the superintendent of insurance submits an electronic call
for data, the treasurer of state shall electronically submit to the
superintendent the data requested, including the amount of taxes
collected and the name of the domestic insurance company from whom
the tax is collected.

Sec.
5725.23.
Taxes,
interest, and penalties may be recovered from a delinquent domestic
insurance company or person in an action brought in the name of the
state in the court of common pleas of Franklin county or any county
in which such company or person has an office or place of business,
and such court shall have jurisdiction of such action regardless of
the amount involved. The attorney general, on request of the
superintendent of insurance or
tax
commissioner
treasurer
of state
,
shall institute such action in the court of common pleas of Franklin
county or any other county the superintendent or
commissioner

treasurer

directs.
In any such action, it shall be sufficient to allege that the tax,
interest, and penalty sought to be recovered stand charged on the tax
list of domestic insurance company franchise taxes
or
intangible property taxes
in
the office of the treasurer of state and have been unpaid for a
period of forty-five days after having been placed thereon. Sums
recovered in any such action shall be paid into the state treasury
and distributed as provided in section 5725.24 of the Revised Code.

Sec.
5729.05.
On
or before the fifteenth day of October each year, each foreign
insurance company shall pay to the treasurer of state an amount equal
to one-half of the previous calendar year's tax, before credits,
which was assessed and paid under section 3737.71 of the Revised Code
and this chapter. This payment shall be considered as a partial
payment of the tax upon the business done in this state during the
calendar year in which the payment date provided by this paragraph is
contained.

Payments
shall be made electronically as prescribed by the treasurer of state.
The treasurer of state may adopt rules concerning the methods and
timeliness of payments under this section.

At
the time of filing its annual statement, each foreign insurance
company shall pay to the treasurer of state the tax assessable under
section 3737.71 of the Revised Code and this chapter, calculated by
such company from such annual statement. The company may deduct the
part of such tax already paid as a partial payment.

The
superintendent shall determine the correctness of the reports and
statements of insurance companies, compute the annual tax, and, on or
before the fifteenth day of May, prepare and furnish to the treasurer
of state lists of all taxable companies, showing as to each company
the whole amount of the annual tax computed by the superintendent.
The treasurer of state, after deducting the tax already paid, shall
promptly notify each such company of any amount due, which amount
shall be paid by each such company to the treasurer of state by the
fifteenth day of June next succeeding. If a company has for any
reason overpaid or was illegally or erroneously assessed or charged
for collection a larger amount of tax than its annual tax as computed
by the superintendent of insurance and an application for refund was
timely filed under section 5729.102 of the Revised Code, a refund of
the excess amount shall be paid from the tax refund fund created by
section 5703.052 of the Revised Code.

Sec.
5729.10.
If
a company fails to pay the tax levied by section 5729.03 of the
Revised Code, or to make any partial payment thereof as required by
law after a statement thereof has been made and mailed to it, or if
the annual statement required by law to be made by it is false or
incorrect, the superintendent of insurance may revoke the license of
such company doing business in this state. Upon failure to pay the
tax or to make partial payment thereof according to law, the

superintendent

treasurer
of state
shall
certify
that
fact
the
tax liability and any related interest and penalties
to
the attorney general, who shall thereupon begin an action against the
company in the court of common pleas of Franklin county, or any other
county
he

the attorney general

elects, to recover the amount of the tax. If such company ceases to
do business in this state, it shall thereupon make a report to the
superintendent of the gross amount of premiums not theretofore
reported as provided in section 5729.02 or 5729.04 of the Revised
Code received by it from policies covering risks within this state
prior to such discontinuance of business, after deducting return
premiums and considerations received for reinsurance not theretofore
so reported, and shall forthwith pay to the
superintendent

treasurer
of state
a
like per cent of tax thereon.

Sec.
5739.17.
(A)
No person shall engage in making retail sales subject to a tax
imposed by or pursuant to section 5739.02, 5739.021, 5739.023, or
5739.026 of the Revised Code as a business without having a license
therefor, except as otherwise provided in divisions (A)(1), (2), and
(3) of this section.

(1)
In the dissolution of a partnership by death, the surviving partner
may operate under the license of the partnership for a period of
sixty days.

(2)
The heirs or legal representatives of deceased persons, and receivers
and trustees in bankruptcy, appointed by any competent authority, may
operate under the license of the person so succeeded in possession.

(3)
Two or more persons who are not partners may operate a single place
of business under one license. In such case neither the retirement of
any such person from business at that place of business, nor the
entrance of any person, under an existing arrangement, shall affect
the license or require the issuance of a new license, unless the
person retiring from the business is the individual named on the
vendor's license.

Except
as otherwise provided in this section, each applicant for a license
shall make out and deliver to the county auditor of each county in
which the applicant desires to engage in business, upon a blank to be
furnished by such auditor for that purpose, a statement showing the
name of the applicant, each place of business in the county where the
applicant will make retail sales, the nature of the business, and any
other information the tax commissioner reasonably prescribes in the
form of a statement prescribed by the commissioner.

At
the time of making the application, the applicant shall pay into the
county treasury a license fee in the sum of fifty dollars for each
fixed place of business in the county that will be the situs of
retail sales. Upon receipt of the application and exhibition of the
county treasurer's receipt, showing the payment of the license fee,
the county auditor shall issue to the applicant a license for each
fixed place of business designated in the application, authorizing
the applicant to engage in business at that location. The county
auditor shall
transmit

remit

twenty-five
dollars of each license fee to the
treasurer
of state
attorney
general
for
deposit into the state treasury to the credit of the organized crime
commission fund for the purposes specified in section 177.011 of the
Revised Code. The remaining twenty-five dollars of each license fee
shall be credited to the general fund of the county.

(B)
If a vendor's identity changes, the vendor shall apply for a new
license. If a vendor wishes to move an existing fixed place of
business to a new location within the same county, the vendor shall
obtain a new vendor's license or submit a request to the commissioner
to transfer the existing vendor's license to the new location. When
the new location has been verified as being within the same county,
the commissioner shall authorize the transfer and notify the county
auditor of the change of location. If a vendor wishes to move an
existing fixed place of business to another county, the vendor's
license shall not transfer and the vendor shall obtain a new vendor's
license from the county in which the business is to be located. The
form of the license shall be prescribed by the commissioner. The fees
collected shall be credited as specified in division (A)(3) of this
section. If a vendor fails to notify the commissioner of a change of
location of its fixed place of business or that its business has
closed, the commissioner may cancel the vendor's license if ordinary
mail sent to the location shown on the license is returned because of
an undeliverable address.

(C)
The commissioner may establish or participate in a registration
system whereby any vendor may obtain a vendor's license by submitting
to the commissioner a vendor's license application and a license fee
of fifty dollars for each fixed place of business at which the vendor
intends to make retail sales. Under this registration system, the
commissioner shall issue a vendor's license to the applicant on
behalf of the county auditor of the county in which the applicant
desires to engage in business, and shall forward a copy of the
application and license fee to that county. Twenty-five dollars of
each license fee received by the commissioner for the issuance of
vendor's licenses shall be deposited into the vendor's license
application fund, which is hereby created in the state treasury. The
remaining twenty-five dollars of each license fee shall be deposited
into the organized crime commission fund for the purposes specified
in section 177.011 of the Revised Code. The commissioner shall
certify to the director of budget and management within ten business
days after the close of a month the license fees to be transmitted to
each county from the vendor's license application fund for vendor's
license applications received by the commissioner during that month.
License fees transmitted to a county for which payment was not
received by the commissioner may be netted against a future
distribution to that county, including distributions made pursuant to
section 5739.21 of the Revised Code.

A
vendor that makes retail sales subject to tax under Chapter 5739. of
the Revised Code pursuant to a permit issued by the division of
liquor control shall obtain a vendor's license in the identical name
and for the identical address as shown on the permit.

Except
as otherwise provided in this section, if a vendor has no fixed place
of business and sells from a vehicle, each vehicle intended to be
used within a county constitutes a place of business for the purpose
of this section.

(D)
As used in this section, "transient vendor" means any
person who makes sales of tangible personal property from vending
machines located on land owned by others, who leases titled motor
vehicles, titled watercraft, or titled outboard motors, who
effectuates leases that are taxed according to division (A)(2) of
section 5739.02 of the Revised Code, or who, in the usual course of
the person's business, transports inventory, stock of goods, or
similar tangible personal property to a temporary place of business
or temporary exhibition, show, fair, flea market, or similar event in
a county in which the person has no fixed place of business, for the
purpose of making retail sales of such property. A "temporary
place of business" means any public or quasi-public place
including, but not limited to, a hotel, rooming house, storeroom,
building, part of a building, tent, vacant lot, railroad car, or
motor vehicle that is temporarily occupied for the purpose of making
retail sales of goods to the public. A place of business is not
temporary if the same person conducted business at the place
continuously for more than six months or occupied the premises as the
person's permanent residence for more than six months, or if the
person intends it to be a fixed place of business.

Any
transient vendor, in lieu of obtaining a vendor's license under
division (A) of this section for counties in which the transient
vendor has no fixed place of business, may apply to the tax
commissioner, on a form prescribed by the commissioner, for a
transient vendor's license. The transient vendor's license authorizes
the transient vendor to make retail sales in any county in which the
transient vendor does not maintain a fixed place of business. Any
holder of a transient vendor's license shall not be required to
obtain a separate vendor's license from the county auditor in that
county. Upon the commissioner's determination that an applicant is a
transient vendor, the applicant shall pay a license fee in the amount
of fifty dollars, at which time the tax commissioner shall issue the
license. Twenty-five dollars of that license fee shall be deposited
into the organized crime commission fund for the purposes specified
in section 177.011 of the Revised Code. The tax commissioner may
require a vendor to be licensed as a transient vendor if, in the
opinion of the commissioner, such licensing is necessary for the
efficient administration of the tax.

Any
holder of a valid transient vendor's license may make retail sales at
a temporary place of business or temporary exhibition, show, fair,
flea market, or similar event, held anywhere in the state without
complying with any provision of section 311.37 of the Revised Code.
Any holder of a valid vendor's license may make retail sales as a
transient vendor at a temporary place of business or temporary
exhibition, show, fair, flea market, or similar event held in any
county in which the vendor maintains a fixed place of business for
which the vendor holds a vendor's license without obtaining a
transient vendor's license.

(E)
Any vendor who is issued a license pursuant to this section shall
display the license or a copy of it prominently, in plain view, at
every place of business of the vendor.

(F)
No owner, organizer, or promoter who operates a fair, flea market,
show, exhibition, convention, or similar event at which transient
vendors are present shall fail to keep a comprehensive record of all
such vendors, listing the vendor's name, permanent address, vendor's
license number, and the type of goods sold. Such records shall be
kept for four years and shall be open to inspection by the
commissioner.

(G)
The commissioner may issue additional types of licenses if required
to efficiently administer the tax imposed by this chapter.

Sec.
5747.51.
(A)
On or before the twenty-fifth day of July of each year, the tax
commissioner shall make and certify to the county auditor of each
county an estimate of the amount of the local government fund to be
allocated to the undivided local government fund of each county for
the ensuing calendar year, adjusting the total as required to account
for subdivisions receiving local government funds under section
5747.502 of the Revised Code.

(B)
At each annual regular session of the county budget commission
convened pursuant to section 5705.27 of the Revised Code, each
auditor shall present to the commission the certificate of the
commissioner, the annual tax budget and estimates, and the records
showing the action of the commission in its last preceding regular
session. The commission, after extending to the representatives of
each subdivision an opportunity to be heard, under oath administered
by any member of the commission, and considering all the facts and
information presented to it by the auditor, shall determine the
amount of the undivided local government fund needed by and to be
apportioned to each subdivision for current operating expenses, as
shown in the tax budget of the subdivision. This determination shall
be made pursuant to divisions (C) to (I) of this section, unless the
commission has provided for a formula pursuant to section 5747.53 of
the Revised Code. The commissioner shall reduce the amount of funds
from the undivided local government fund to a subdivision required to
receive reduced funds under section 5747.502 of the Revised Code.

Nothing
in this section prevents the budget commission, for the purpose of
apportioning the undivided local government fund, from inquiring into
the claimed needs of any subdivision as stated in its tax budget, or
from adjusting claimed needs to reflect actual needs. For the
purposes of this section, "current operating expenses"
means the lawful expenditures of a subdivision, except those for
permanent improvements and except payments for interest, sinking
fund, and retirement of bonds, notes, and certificates of
indebtedness of the subdivision.

(C)
The commission shall determine the combined total of the estimated
expenditures, including transfers, from the general fund and any
special funds other than special funds established for road and
bridge; street construction, maintenance, and repair; state highway
improvement; and gas, water, sewer, and electric public utilities
operated by a subdivision, as shown in the subdivision's tax budget
for the ensuing calendar year.

(D)
From the combined total of expenditures calculated pursuant to
division (C) of this section, the commission shall deduct the
following expenditures, if included in these funds in the tax budget:

(1)
Expenditures for permanent improvements as defined in division (E) of
section 5705.01 of the Revised Code;

(2)
In the case of counties and townships, transfers to the road and
bridge fund, and in the case of municipalities, transfers to the
street construction, maintenance, and repair fund and the state
highway improvement fund;

(3)
Expenditures for the payment of debt charges;

(4)
Expenditures for the payment of judgments.

(E)
In addition to the deductions made pursuant to division (D) of this
section, revenues accruing to the general fund and any special fund
considered under division (C) of this section from the following
sources shall be deducted from the combined total of expenditures
calculated pursuant to division (C) of this section:

(1)
Taxes levied within the ten-mill limitation, as defined in section
5705.02 of the Revised Code;

(2)
The budget commission allocation of estimated county public library
fund revenues to be distributed pursuant to section 5747.48 of the
Revised Code;

(3)
Estimated unencumbered balances as shown on the tax budget as of the
thirty-first day of December of the current year in the general fund,
but not any estimated balance in any special fund considered in
division (C) of this section;

(4)
Revenue, including transfers, shown in the general fund and any
special funds other than special funds established for road and
bridge; street construction, maintenance, and repair; state highway
improvement; and gas, water, sewer, and electric public utilities,
from all other sources except those that a subdivision receives from
an additional tax or service charge voted by its electorate or
receives from special assessment or revenue bond collection. For the
purposes of this division, where the charter of a municipal
corporation prohibits the levy of an income tax, an income tax levied
by the legislative authority of such municipal corporation pursuant
to an amendment of the charter of that municipal corporation to
authorize such a levy represents an additional tax voted by the
electorate of that municipal corporation. For the purposes of this
division, any measure adopted by a board of county commissioners
pursuant to section 322.02, 4504.02, or 5739.021 of the Revised Code,
including those measures upheld by the electorate in a referendum
conducted pursuant to section 322.021, 4504.021, or 5739.022 of the
Revised Code, shall not be considered an additional tax voted by the
electorate.

Subject
to division (F) of section 5705.29 of the Revised Code, money in a
reserve balance account established by a county, township, or
municipal corporation under section 5705.13 of the Revised Code shall
not be considered an unencumbered balance or revenue under division
(E)(3) or (4) of this section. Money in a reserve balance account
established by a township under section 5705.132 of the Revised Code
shall not be considered an unencumbered balance or revenue under
division (E)(3) or (4) of this section.

If
a county, township, or municipal corporation has created and
maintains a nonexpendable trust fund under section 5705.131 of the
Revised Code, the principal of the fund, and any additions to the
principal arising from sources other than the reinvestment of
investment earnings arising from such a fund, shall not be considered
an unencumbered balance or revenue under division (E)(3) or (4) of
this section. Only investment earnings arising from investment of the
principal or investment of such additions to principal may be
considered an unencumbered balance or revenue under those divisions.

(F)
The total expenditures calculated pursuant to division (C) of this
section, less the deductions authorized in divisions (D) and (E) of
this section, shall be known as the "relative need" of the
subdivision, for the purposes of this section.

(G)
The budget commission shall total the relative need of all
participating subdivisions in the county, and shall compute a
relative need factor by dividing the total estimate of the undivided
local government fund by the total relative need of all participating
subdivisions.

(H)
The relative need of each subdivision shall be multiplied by the
relative need factor to determine the proportionate share of the
subdivision in the undivided local government fund of the county;
provided, that the maximum proportionate share of a county shall not
exceed the following maximum percentages of the total estimate of the
undivided local government fund governed by the relationship of the
percentage of the population of the county that resides within
municipal corporations within the county to the total population of
the county as reported in the reports on population in Ohio by the
department of development as of the twentieth day of July of the year
in which the tax budget is filed with the budget commission:

1

2

A

Percentage
of municipal population within the county:

Percentage
share of the county shall not exceed:

B

Less
than forty-one per cent

Sixty
per cent

C

Forty-one
per cent or more but less than eighty-one per cent

Fifty
per cent

D

Eighty-one
per cent or more

Thirty
per cent

Where
the proportionate share of the county exceeds the limitations
established in this division, the budget commission shall adjust the
proportionate shares determined pursuant to this division so that the
proportionate share of the county does not exceed these limitations,
and it shall increase the proportionate shares of all other
subdivisions on a pro rata basis. In counties having a population of
less than one hundred thousand, not less than ten per cent shall be
distributed to the townships therein.

(I)
The proportionate share of each subdivision in the undivided local
government fund determined pursuant to division (H) of this section
for any calendar year shall not be less than the product of the
average of the percentages of the undivided local government fund of
the county as apportioned to that subdivision for the calendar years
1968, 1969, and 1970, multiplied by the total amount of the undivided
local government fund of the county apportioned pursuant to former
section 5739.23 of the Revised Code for the calendar year 1970. For
the purposes of this division, the total apportioned amount for the
calendar year 1970 shall be the amount actually allocated to the
county in 1970 from the state collected intangible tax as levied by
section 5707.03 of the Revised Code and distributed pursuant to
section 5725.24 of the Revised Code, plus the amount received by the
county in the calendar year 1970 pursuant to division (B)(1) of
former section 5739.21 of the Revised Code, and distributed pursuant
to former section 5739.22 of the Revised Code. If the total amount of
the undivided local government fund for any calendar year is less
than the amount of the undivided local government fund apportioned
pursuant to former section 5739.23 of the Revised Code for the
calendar year 1970, the minimum amount guaranteed to each subdivision
for that calendar year pursuant to this division shall be reduced on
a basis proportionate to the amount by which the amount of the
undivided local government fund for that calendar year is less than
the amount of the undivided local government fund apportioned for the
calendar year 1970.

(J)
On the basis of such apportionment, the county auditor shall compute
the percentage share of each such subdivision in the undivided local
government fund and shall at the same time certify to the tax
commissioner the percentage share of the county as a subdivision. No
payment shall be made from the undivided local government fund,
except in accordance with such percentage shares.

Within
ten days after the budget commission has made its apportionment,
whether conducted pursuant to section 5747.51 or 5747.53 of the
Revised Code, the auditor shall publish a list of the subdivisions
and the amount each is to receive from the undivided local government
fund and the percentage share of each subdivision, in a newspaper or
newspapers of countywide circulation, and send a copy of such
allocation to the tax commissioner.

The
county auditor shall also send a copy of such allocation by ordinary
or electronic mail to the fiscal officer of each subdivision entitled
to participate in the allocation of the undivided local government
fund of the county. This copy shall constitute the official notice of
the commission action referred to in section 5705.37 of the Revised
Code.

All
money received into the treasury of a subdivision from the undivided
local government fund in a county treasury shall be paid into the
general fund and used for the current operating expenses of the
subdivision.

If
a municipal corporation maintains a municipal university, such
municipal university, when the board of trustees so requests the
legislative authority of the municipal corporation, shall participate
in the money apportioned to such municipal corporation from the total
local government fund, however created and constituted, in such
amount as requested by the board of trustees, provided such sum does
not exceed nine per cent of the total amount paid to the municipal
corporation.

If
any public official fails to maintain the records required by
sections 5747.50 to 5747.55 of the Revised Code or by the rules
issued by the tax commissioner
,
the auditor of state, or the treasurer of state

pursuant to such sections, or fails to comply with any law relating
to the enforcement of such sections, the local government fund money
allocated to the county may be withheld until such time as the public
official has complied with such sections or such law or the rules
issued pursuant thereto.

Sec.
6101.51.
The
treasurer of a conservancy district, at the time of taking office,
shall execute to the district and deliver to the president of the
board of directors of the district, a bond with good and sufficient
sureties, to be approved by the board, conditioned that the treasurer
shall account for and pay over as required by law, and as ordered by
the board, all money received by the treasurer on the sale of bonds
and notes or from any other source, that the treasurer only shall
deliver the bonds and notes to the purchasers under and according to
the terms prescribed in this section and section 6101.50 of the
Revised Code, and that, when ordered by the board to do so, the
treasurer shall return to the board, duly canceled, any bonds and
notes not sold, which bonds and notes shall remain in the custody of
the board, which shall produce them for inspection or for use as
evidence whenever and wherever legally requested to do so. The cost
of the bond of the treasurer shall be paid by the board from the
funds of the district. The board shall make appropriations at the
proper time for the payment of the maturing bonds and notes of the
district and the interest payments coming due on all bonds and notes
sold, and the treasurer of the district shall place sufficient funds
at the place of payment to pay them. If proper appropriations are not
made by the board as provided in this section, the treasurer of the
district of the treasurer's own accord shall place funds at the place
of payment and report that action to the next meeting of the board.
The canceled bonds and coupons, receipted notes, and receipts of the
treasurer shall be evidence of such payment.

The
successor in office of any treasurer of a conservancy district is not
entitled to take over the assets of the treasury until the treasurer
has complied with this section. Moneys derived from the sale of bonds
and from all other sources shall be deposited by the treasurer In
accordance with sections 135.01 to 135.21 of the Revised Code. The
funds derived from the sale of any of the bonds and notes shall be
used only for paying the cost of the properties, works, and
improvements and costs, expenses, fees, and salaries authorized by
law.

The
district may secure the payment of loans from the United States
government in the same manner as it may secure the payment of bonds,
and the board may make any necessary regulations to provide for that
payment.

A
party who has not sought a remedy against any proceeding under this
chapter, until bonds or notes have been sold or the work constructed,
cannot for any cause have an injunction against the collection of
assessments for the payment of the bonds or notes.

When
consideration for bonds is received by the district, the bonds shall
not be invalid for any irregularity or defect in the proceedings for
their issuance and sale, and shall be incontestable in the hands of
bona fide purchasers or holders of the bonds for value. No
proceedings in respect to the issuance of any bonds are necessary
except as required by this chapter.

Notwithstanding
any other provision of this section governing the deposit or
investment of moneys of a conservancy district, the board of
directors of a district, for the purpose of providing for the
investment of the moneys on the district's behalf, may order the
treasurer of the district to invest moneys of the district in the
Ohio subdivision's fund authorized to be created under section
135.45

113.07

of
the Revised Code. Any such investments in the fund are subject to and
governed by that section and rules adopted under it.

Section
2.
That
existing sections 113.05, 113.051, 113.09, 113.13, 113.16, 113.40,
113.78, 118.05, 120.52, 131.01, 131.50, 135.01, 135.03, 135.032,
135.14, 135.143, 135.18, 135.22, 135.35, 135.45, 135.451, 135.71,
151.01, 164.09, 183.51, 317.36, 319.63, 321.46, 321.47, 1557.03,
2969.13, 3109.14, 3307.12, 3334.08, 3334.11, 3705.242, 3737.945,
3953.231, 4511.19, 4705.09, 4705.10, 5528.54, 5725.22, 5725.23,
5729.05, 5729.10, 5739.17, 5747.51, and 6101.51 of the Revised Code
are hereby repealed.

Section
3.
That
sections 113.06
,
113.10
,
113.43, and 135.144 of the Revised Code are hereby repealed.

Section
4.
TRANSFER
FROM THE TORRENS LAW ASSURANCE FUND TO THE COUNTY RECORDER ELECTRONIC
MODERNIZATION FUND

On
July 1, 2026, or as soon as possible thereafter, the Treasurer of
State shall transfer the cash balance including accrued interest and
investment earnings from the Torrens Law Assurance Fund in the
custody of the Treasurer of State to the County Recorder Electronic
Modernization Fund (Fund 5BD1). Upon completion of the transfer and
on the effective date of its repeal by this act, the Torrens Law
Assurance Fund is hereby abolished.

Section
5.
Section
4511.19 of the Revised Code is presented in this act as a composite
of the section as amended by both H.B. 37 and S.B. 100 of the 135th
General Assembly. The General Assembly, applying the principle stated
in division (B) of section 1.52 of the Revised Code that amendments
are to be harmonized and reconciled if reasonably capable of
simultaneous operation, finds that the composite is the resulting
version of the section in effect prior to the effective date of the
section as presented in this act.