2006 Ohio Revised Code - [9.98.1] 9.981.Bonds to which provisions apply; liberal construction.

[§ 9.98.1] § 9.981. Bonds to which provisions apply; liberal construction.
 

(A)  Sections 9.98 to 9.983 [9.98.3] of the Revised Code are applicable to bonds: 

(1) The payment of the debt service on which is to be provided for directly or indirectly by payments contracted to be made in the bond proceedings by the absolute obligors, being persons other than the issuer; and 

(2) Which are authorized to be issued under sections 122.39 to 122.62, Chapter 165., 902., 3377., 3706., division (A)(4) of section 4582.06, division (A)(8) of section 4582.31, section 4582.48, or Chapter 6121. or 6123. of the Revised Code, notwithstanding other provisions therein. 

(B)  Sections 9.98 to 9.983 of the Revised Code are applicable to bonds issued under sections 306.37 and 6119.12 of the Revised Code and Chapters 140., 152., 154., 175., and 349. of the Revised Code, and to any bonds authorized under laws which expressly make those sections applicable. 

(C)  Subject to division (A) of this section, the authority provided in sections 9.98 to 9.983 [9.98.3] of the Revised Code is supplemental to and not in derogation of any similar authority provided by, derived from, or implied by, any law, the Ohio Constitution, or any charter, resolution, or ordinance, and no inference shall be drawn to negate the authority thereunder by reason of the express provisions of sections 9.98 to 9.983 [9.98.3] of the Revised Code. 

(D)  Sections 9.98 to 9.983 [9.98.3] of the Revised Code shall be liberally construed to permit flexibility in the arrangements therein provided to enhance the issuance of such bonds and provide for terms most beneficial and satisfactory to the persons which undertake to provide for their payment, security, and liquidity. 
 

HISTORY: 140 v H 826 (Eff 1-11-85); 143 v H 333 (Eff 10-24-89); 143 v S 332 (Eff 1-10-91); 148 v S 137. Eff 5-17-2000; 149 v S 123, § 1, eff. 1-1-04; 150 v H 431, § 1, eff. 7-1-05; 151 v H 66, § 101.01, eff. 7-1-05.
 

The effective date is set by § 612.18 of 151 v H 66. 

The effective date is set by section 5 of H.B. 431 (150 v  - ). 

The provisions of § 5 of S.B. 123 (149 v  - ), as amended by § 3 of H.B. 163 (150 v  - ), read as follows: 

SECTION 5. (A) Notwithstanding division (B) of section 1.58 of the Revised Code, the provisions of the Revised Code amended or enacted in Sections 1 and 2 of Am. Sub. S.B. 123 of the 124th General Assembly shall apply only in relation to conduct and offenses committed on or after January 1, 2004. Conduct and offenses committed prior to January 1, 2004, shall be governed by the law in effect on the date the conduct or offense was committed. * * * 

See provisions, § 3 of HB 333 (143 v  - ), following RC § 9.98. 

 

Effect of Amendments

151 v H 66, effective July 1, 2005, in (B), inserted "section 306.37 and 6119.12 of the Revised Code and", and deleted "133" following "Chapters". 

150 v H 431, effective July 1, 2005, inserted "133" in (B). 

S.B. 123, Acts 2002, effective January 1, 2004, in (A)(2), substituted "(A)(4)" for "(D)" and "(A)(8)" for "(H)."