Lawriter - OAC - 122-4-08 Effectiveness and reliance.

122-4-08 Effectiveness and reliance.

The rules in this chapter, and confirmations issued pursuant to or confirmed by those rules, may be relied upon by issuers of restricted bonds, the beneficiaries of the proceeds from and the owners of such bonds, and other participants in the issuance of such bonds, with respect to all restricted bonds issued during the period from and including October 10, 1991 to and including the date of expiration of the confirmation for such bonds notwithstanding the prior expiration or amendment of any rule under this chapter. Subject to the foregoing provisions of this rule, the rules in this chapter may be amended at any time. If and to the extent it is necessary to allocate the state ceiling to the state and assign it to issuers in order to achieve the results intended by this chapter, the state ceiling is and shall be deemed to be so allocated and assigned by rules 122-4-02 to 122-4-08 of the Administrative Code. If any clause, provision or application of any rule in this chapter is determined to be invalid or inconsistent with the act, such determination shall not affect the remainder of such rule or other application of the rule, or other rules of this chapter, which shall be applied as if the invalid or inconsistent portion or application or references to the invalid or inconsistent portion did not exist.

R.C. 119.032 review dates: 06/10/2014 and 06/10/2019
Promulgated Under: 119.03
Statutory Authority: ORC 133.021(E)
Rule Amplifies: ORC 133.021
Prior Effective Dates: 10/23/91 (Emer), 1/26/92, 1/19/98 (Emer), 4/15/98 (Emer), 7/9/98, 3/22/99, 4/9/01, 12/17/01, 12/31/02, 12/27/07