Ohio § 5540.05 Acquiring excess real property in connection with project

Ohio Statutes

§ 5540.05 — Acquiring excess real property in connection with project

Ohio § 5540.05

Title 55Roads-Highways-Bridges

Ch. 5540Transportation Improvement Districts

This text of Ohio § 5540.05 (Acquiring excess real property in connection with project) 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. § 5540.05 (2026).

Text

The board of trustees of a district may  acquire real property in fee simple in the name of the district in  connection with, but in excess of that needed for, a project by  any method other than appropriation and hold the property for such  period of time as the board determines. All right, title, and  interest of the district in the property may be sold at public  auction or otherwise, as the board considers in the best interests  of the district; but in no event shall the property be sold for  less than two-thirds of its appraised value. Sale at public  auction shall be undertaken only after the board advertises the  sale in a newspaper of general circulation in the district for two  weeks or as provided in section7.16of the Revised Code, prior to  the date set for the sale.

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The board of trustees of a district may acquire real property in fee simple in the name of the district in connection with, but in excess of that needed for, a project by any method other than appropriation and hold the property for such period of time as the board determines. All right, title, and interest of the district in the property may be sold at public auction or otherwise, as the board considers in the best interests of the district; but in no event shall the property be sold for less than two-thirds of its appraised value. Sale at public auction shall be undertaken only after the board advertises the sale in a newspaper of general circulation in the district for two weeks or as provided in section7.16of the Revised Code, prior to the date set for the sale.