Ohio SB15 allows port authorities to establish a Common Bond Fund Program to finance facilities.

Ohio SB15 amends the Revised Code to authorize port authorities to establish a Common Bond Fund Program for financing port authority facilities. This program can include credit enhancement facilities, cash reserves, or other available funds. The program is governed by the bond proceedings associated with the obligations issued. The bill also specifies that the program is supplementary to existing port authority powers and does not limit them.

Ohio SB15 allows port authorities to establish a Common Bond Fund Program to finance facilities.

Ohio SB15 amends the Revised Code to authorize port authorities to establish a Common Bond Fund Program for financing port authority facilities. This program can include credit enhancement facilities, cash reserves, or other available funds. The program is governed by the bond proceedings associated with the obligations issued. The bill also specifies that the program is supplementary to existing port authority powers and does not limit them.