OH HJR5

Proposes a constitutional amendment to authorize Ohio to issue up to $1 billion in general obligation bonds for sewer and water capital improvements.

Limits bond issuance to no more than $100 million per fiscal year, with flexibility to carry forward unissued amounts from prior years.

Bonds must mature within 20 years from issuance date and may fund waste water treatment, water supply systems, storm water collection, and related infrastructure for municipalities, counties, townships, and other governmental entities.

Full faith and credit of the state pledges backing for bond payments; proceeds must go entirely to sewer and water improvements except for reasonable state compensation for planning and administrative services.

Requires voter approval at a special election on March 15, 2016, with immediate effect if adopted by majority of voters.