Ohio Code § 6121.11
Ohio Code § 6121.11. Reproduced from the official Ohio Revised Code, with a citation summary, verification link, and related provisions.
§ 6121.11.
All moneys, funds, properties, and assets acquired by the Ohio water development authority
under Chapter 6121. of the Revised Code, whether as proceeds from the sale of water
development revenue bonds or as revenues, or otherwise, shall be held by it in trust
for the purposes of carrying out its powers and duties, shall be used and reused as
provided in such sections, and shall at no time be part of other public funds. Such funds, except as otherwise provided in any resolution authorizing its water
development revenue bonds or in any trust agreement securing the same, or except when
invested pursuant to section 6121.12 of the Revised Code , shall be kept in depositories as selected by the authority in the manner provided
in sections 135.01 to 135.21, inclusive, of the Revised Code , in so far as such sections are applicable, and the deposits shall be secured as
provided in sections 135.01 to 135.21, inclusive, of the Revised Code . The resolution authorizing the issuance of such bonds of any issue or the trust
agreement securing such bonds shall provide that any officer to whom, or any bank
or trust company to which, such moneys are paid shall act as trustees of such moneys
and hold and apply them for the purposes hereof, subject to such conditions as Chapter
6121. of the Revised Code, and such resolution or trust agreement provide.
Source: official Ohio text · Last verified 2026-08-27
At a glance
- Citation: Ohio Revised Code § 6121.11
- Jurisdiction: Ohio
- Code: Ohio Revised Code
- Text: transcribed from the official source (verify below)
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Common questions
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