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OH HB482
Bill
Status
5/26/2010
Primary Sponsor
John Adams
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AI Summary
HB 482 Summary
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Removes mandatory appointment requirements for three state officials (Governor, Speaker of the House, President of the Senate) to joint recreation district boards, making such appointments permissive instead under a new Section 755.141.
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Authorizes joint recreation districts at Christopher Columbus Quincentenary Jubilee sites to issue revenue bonds beyond normal debt limits for acquisition, construction, and equipping of real and personal property, with bonds secured only by designated district revenues.
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Permits joint recreation districts to maintain secured lines of credit with banks, savings and loan associations, or savings banks for terms up to one year with automatic renewal options, subject to restrictions on lender remedies and collateral.
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Grants joint recreation districts authority to enter into lease-purchase agreements for property acquisition, with lease terms not exceeding the property's useful life and title vesting in the district upon final payment.
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Expands district powers to acquire horticultural facilities, public banquet facilities, and greenhouses; designate insurance protection; charge admission fees; offer memberships; and grant licenses, leases, and easements for property use.
Legislative Description
To authorize a joint recreation district operating on the site of the United States Christopher Columbus Quincentenary Jubilee to issue revenue bonds, maintain lines of credit, and enter into lease purchase agreements for property; to expand the district's powers with respect to its own property; and to make certain appointments to the district's board permissive rather than mandatory.
Joint recreational district-Christopher Columbus Jubilee site-financing
Last Action
To Finance & Financial Institutions
5/28/2010