Ohio § 3318.62 Agreements to provide facilities assistance; Mandatory stipulations

Ohio Statutes

§ 3318.62 — Agreements to provide facilities assistance; Mandatory stipulations

Ohio § 3318.62

Title 33Education-Libraries

Ch. 3318School Facilities

This text of Ohio § 3318.62 (Agreements to provide facilities assistance; Mandatory stipulations) is published on Counsel Stack Legal Research, covering Ohio primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ohio Rev. Code Ann. § 3318.62 (2026).

Text

Any agreement between the Ohio facilities construction commission and the board of trustees of a college-preparatory boarding school to provide facilities assistance under section3318.60or3318.61of the Revised Code shall include the following stipulations:

(A)If the school ceases its operations, the school's board of trustees may permit the classroom facilities to be used for only an alternative public purpose, including, but not limited to, primary, secondary, vocational, or higher education services.

(B)If the school ceases its operations due to either the failure of the school's operator to comply with any of the requirements of the contract prescribed under section3328.12of the Revised Code or the default by the school's board of trustees on an underlying leasehold or mortgage agre

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Any agreement between the Ohio facilities construction commission and the board of trustees of a college-preparatory boarding school to provide facilities assistance under section3318.60or3318.61of the Revised Code shall include the following stipulations:

(A) If the school ceases its operations, the school's board of trustees may permit the classroom facilities to be used for only an alternative public purpose, including, but not limited to, primary, secondary, vocational, or higher education services.

(B) If the school ceases its operations due to either the failure of the school's operator to comply with any of the requirements of the contract prescribed under section3328.12of the Revised Code or the default by the school's board of trustees on an underlying leasehold or mortgage agreement, the school's board of trustees shall return to the commission the unamortized portion of the state funds provided to the board of trustees under this chapter, based on a straight-line depreciation over the first eighteen years of occupancy. However, if, within twenty-four months after the school's cessation from operation, the classroom facilities of a college-preparatory boarding school are used for an alternative public purpose as prescribed by division (A) of this section, no return of funds by the board of trustees under this division shall be required.