Ohio § 3347.071 Bonds or notes secured by a trust agreement

Ohio Statutes

§ 3347.071 — Bonds or notes secured by a trust agreement

Ohio § 3347.071

Title 33Education-Libraries

Ch. 3347University Housing Commissions

This text of Ohio § 3347.071 (Bonds or notes secured by a trust agreement) 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. § 3347.071 (2026).

Text

In the event that bonds, notes, or other evidences of indebtedness issued pursuant to section3347.04of the Revised Code are secured by a trust agreement between the issuing commission and a corporate trustee, as determined by the commission in its resolution authorizing their issuance, the revenues received by the issuing commission from the buildings referred to in section3347.03of the Revised Code, shall be pledged, deposited, held, invested, disbursed, used, and applied to such extent, in such manner, at such times, and for such purposes as are provided in such trust agreement or resolution, notwithstanding any provisions of section3347.07of the Revised Code. Such trust agreement or resolution may contain such terms and provisions as the issuing commission determines, and may provide fo

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In the event that bonds, notes, or other evidences of indebtedness issued pursuant to section3347.04of the Revised Code are secured by a trust agreement between the issuing commission and a corporate trustee, as determined by the commission in its resolution authorizing their issuance, the revenues received by the issuing commission from the buildings referred to in section3347.03of the Revised Code, shall be pledged, deposited, held, invested, disbursed, used, and applied to such extent, in such manner, at such times, and for such purposes as are provided in such trust agreement or resolution, notwithstanding any provisions of section3347.07of the Revised Code. Such trust agreement or resolution may contain such terms and provisions as the issuing commission determines, and may provide for the pledge or assignment of all or such part of the revenue of any such buildings designated therein, as the commission determines, to the payment of the principal of and interest on such bonds, notes, and other written instruments and expenditures related thereto, after provision for the reasonable costs of operating, maintaining, and repairing the buildings so designated, but such trust agreement or resolution shall not mortgage or convey any such building or part thereof and shall neither obligate the state to make any such payments or deposits nor obligate the commission to make them from other than such revenues.