132nd General Assembly, Regular Session, pt. 4 1 (2017-2018)

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                                      (132nd General Assembly)
                                   (Substitute House Bill Number 251)



                                      AN ACT



        To amend sections 135.14 and 135.35 of the Revised Code to increase from five to
           ten years the maturity period of other political subdivision's bonds and obligations
           eligible for investment of a subdivision's interim moneys, a county's inactive
           moneys, and money in the county public library fund.

Be it enacted by the General Assembly of the State of Ohio:


        SECTION 1. That sections 135.14 and 135.35 of the Revised Code be amended to read as
follows:
        Sec. 135.14. (A)As used in this section:
        (1) Treasurer does not include the treasurer of state, and governing board does not
include the state board of deposit.
        (2) Other obligations includes notes whether or not issued in anticipation of the issuance of
bonds.
        (B) The treasurer or governing board may invest or deposit any part or all of the interim
moneys. The following classifications of obligations shall be eligible for such investment or deposit:
        (1) United States treasury bills, notes, bonds, or any other obligation or security issued by the
United States treasury or any other obligation guaranteed as to principal and interest by the United
States.
       Nothing in the classification of eligible obligations set forth in division (B)(1) of this section
or in the classifications of eligible obligations set forth in divisions (B)(2) to (7) of this section shall
be construed to authorize any investment in stripped principal or interest obligations of such eligible
obligations.
        (2) Bonds, notes, debentures, or any other obligations or securities issued by any federal
government agency or instrumentality, including but not limited to, the federal national mortgage
association, federal home loan bank, federal farm credit bank, federal home loan mortgage
corporation, and government national mortgage association. All federal agency securities shall be
direct issuances of federal government agencies or instrumentalities.
        (3) Interim deposits in the eligible institutions applying for interim moneys as provided in
section 135.08 of the Revised Code. The award of interim deposits shall be made in accordance with
section 135.09 of the Revised Code and the treasurer or the governing board shall determine the
periods for which such interim deposits are to be made and shall award such interim deposits for such
periods, provided that any eligible institution receiving an interim deposit award may, upon
notification that the award has been made, decline to accept the interim deposit in which event the
award shall be made as though the institution had not applied for such interim deposit.
        (4) Bonds and other obligations of this state, or the political subdivisions of this state,

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