Ohio § 5595.05 Issuance of securities

Ohio Statutes

§ 5595.05 — Issuance of securities

Ohio § 5595.05

Title 55Roads-Highways-Bridges

Ch. 5595Regional Transportation Improvement Projects

This text of Ohio § 5595.05 (Issuance of securities) 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. § 5595.05 (2026).

Text

The governing board of a regional transportation improvement project may provide for the issuance of securities for the purpose of paying costs of transportation improvements and opportunity corridor improvements. The securities are Chapter 133. securities, and the issuance of the securities, the maturities and other details thereof, the rights of the holders thereof, and the rights, duties, and obligations of the governing board in respect to the securities is governed by the applicable bond proceedings, section133.22or133.23, and other applicable sections of Chapter 133. of the Revised Code, notwithstanding that the transportation improvements or opportunity corridor improvements may result in permanent improvements for more than one purpose under that chapter.

Such securities do not co

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The governing board of a regional transportation improvement project may provide for the issuance of securities for the purpose of paying costs of transportation improvements and opportunity corridor improvements. The securities are Chapter 133. securities, and the issuance of the securities, the maturities and other details thereof, the rights of the holders thereof, and the rights, duties, and obligations of the governing board in respect to the securities is governed by the applicable bond proceedings, section133.22or133.23, and other applicable sections of Chapter 133. of the Revised Code, notwithstanding that the transportation improvements or opportunity corridor improvements may result in permanent improvements for more than one purpose under that chapter.

Such securities do not constitute a debt or a pledge of the faith and credit of the state or of any political subdivision of the state. Debt charges on outstanding securities are payable solely from revenues pledged to the regional transportation improvement project pursuant to section5595.06of the Revised Code. All securities shall contain on their face a statement to that effect. Sections9.98to9.983of the Revised Code apply to the securities.

Last updated September 28, 2023 at 4:14 PM