Effective: June 13, 2002
Latest Legislation: Senate Bill 193 - 124th General Assembly
(A) An eligible governmental subdivision that has established an eligible governmental subdivision housing linked deposit program may apply to the treasurer of state for consideration of the formation of a partnership with the treasurer of state for the purpose of providing additional funding for that eligible governmental subdivision housing linked deposit program.
(B) Both of the following apply to the application for the formation of a partnership with the treasurer of state described in division (A) of this section:
(1) The application made to the treasurer of state shall be in the form and manner prescribed by the treasurer of state.
(2) The application shall include any information required by the treasurer of state, including all of the following with respect to the eligible governmental subdivision housing linked deposit program:
(a) A copy of the eligible governmental subdivision's application for participation in the program;
(b) Eligibility requirements for participation in the eligible governmental subdivision program;
(c) The total eligible governmental subdivision deposit commitment or allocation limits of the eligible governmental subdivision in the program.
(C) The treasurer of state may accept or reject any application for the formation of a partnership described in division (B) of this section and submitted by an eligible governmental subdivision to the treasurer of state for reasons including, but not limited to, the cash flow needs of the state, level of participation by any or all eligible governmental subdivisions, and criteria set forth by the treasurer of state.
(D) If an eligible governmental subdivision has formed a partnership with the treasurer of state pursuant to this section, both of the following apply:
(1) The treasurer of state has final approval, in accordance with division (A) of section 135.84 of the Revised Code, of any application submitted by an applicant for participation in that eligible governmental housing linked deposit program.
(2) The eligible governmental subdivision shall comply with any monitoring requirements set forth by the treasurer of state.