(A) As used in this rule:
(1) "Governing authority" means the governing authority of a community school as used in Chapter 3314. of the Revised Code.
(B) The fiscal officer of a community school shall execute a bond prior to entering upon the duties of fiscal officer. The bond shall be:
(1) In an amount and with surety to be established by a resolution of the governing authority;
(2) Payable to the state of Ohio; and
(3) Conditioned for the faithful performance of all the official duties required of the fiscal officer.
(C) The bond executed in accordance with paragraph (B) of this rule shall be deposited with the governing authority.
(D) A copy of the bond deposited in accordance with paragraph (C) of this rule, which shall be certified by the governing authority, shall be filed with the county auditor of the county in which the community school is located.
Prior History: (Five Year Review (FYR) Dates:
Promulgated Under: 117.20
Statutory Authority: 3314.011
Rule Amplifies: 3314.011
Prior Effective Dates: 7/1/2010)