OH HB251

Increases the maturity period for political subdivision bonds and obligations eligible for investment from 5 years to 10 years from the date of settlement.

Applies to investments of subdivision interim moneys, county inactive moneys, and money in county public library funds under sections 135.14 and 135.35 of the Revised Code.

Requires bonds and obligations to meet existing eligibility criteria including being payable from general revenues, backed by full faith and credit, and rated in the three highest classifications by at least one nationally recognized rating service.

Maintains the aggregate value limit of 20 percent of interim moneys available for investment at time of purchase for political subdivision bonds and obligations.