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2021 Ohio Revised Code
Title 57 | Taxation
Chapter 5705 | Tax Levy Law
Section 5705.09 | Establishment of Funds.
Universal Citation: Ohio Rev Code § 5705.09 (2021)
Effective: October 1, 1953
Latest Legislation: House Bill 1 - 100th General Assembly
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.
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