Ohio Code § 5595.13

§ 5595.13.

A regional transportation improvement project and its governing board are dissolved

by operation of law on the date specified in the cooperative agreement.  The governing board shall fulfill all contractual duties assumed by the board and

repay all bonds issued by the board before that date.  Upon dissolution of the regional transportation improvement project, the boards

of county commissioners that created the regional transportation improvement project

shall assume title to all real and personal property acquired by the board in the

fulfillment of its duties under this chapter.  The property shall be divided and distributed in accordance with the cooperative

agreement.  Unless otherwise provided by contract, pledges of revenue to the governing board

from the state or a political subdivision or taxing unit shall terminate by operation

of law upon the dissolution of the regional transportation improvement project.  Except as otherwise provided in section 5709.50 of the Revised Code with respect to any incidental surplus in the regional transportation improvement

project fund, unencumbered funds held by the governing board on the date the regional

transportation improvement project is dissolved shall be distributed by the county

treasurer of the most populous participating county as provided in the cooperative

agreement or, if the cooperative agreement does not provide for the distribution of

funds after the dissolution of the project, to the state and to political subdivisions

and taxing units that pledged revenue to the project in proportions deemed equitable

by the county treasurer based on the ratio of funds contributed by the state, the

political subdivisions, and the taxing units.