2006 Ohio Revised Code - 5705.09. Establishment of funds.

§ 5705.09. Establishment of funds.

Each subdivision shall establish the following funds: 

(A) General fund; 

(B) Sinking fund whenever the subdivision has outstanding bonds other than serial bonds; 

(C) Bond retirement fund, for the retirement of serial bonds, notes, or certificates of indebtedness; 

(D) A special fund for each special levy; 

(E) A special bond fund for each bond issue; 

(F) A special fund for each class of revenues derived from a source other than the general property tax, which the law requires to be used for a particular purpose; 

(G) A special fund for each public utility operated by a subdivision; 

(H) A trust fund for any amount received by a subdivision in trust. 

HISTORY: GC § 5625-9; 112 v 391, § 9; 113 v 670; Bureau of Code Revision. Eff 10-1-53.

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