Chapter 127-1 General Provisions
As used in the rules of the minority development financing advisory board.
(A) "Board" means the minority development financing advisory board.
(C) "Director" means the director of the Ohio department of development and assigned staff where appropriate.
(D) "Minority business enterprise" means an individual, partnership, corporation, or joint venture of any kind that is owned and controlled by United States citizens, residents of Ohio, who are one of the following economically disadvantaged groups: Blacks, African Americans, American Indians, Hispanics or Latinos, and Asians.
(E) "Surety company" means a company that is authorized by the Ohio department of insurance to issue business bonds as surety.
R.C. 119.032 review dates: 09/07/2005 and 11/25/2010
Promulgated Under: 119.03
Statutory Authority: 122.89(B)
Rule Amplifies: 122.88 to 122.89
Prior Effective Dates: 5/10/1982, 10/11/84 (Emer.), 3/14/85, 3/26/98
(A) Public notice of the proposed adoption, amendment or rescission of any rule by the director of development, when such notice is required by statute to be given, shall be published in the register of Ohio. at least five newspapers of general circulation in the state no less than thirty days prior to the hearing on the proposed action, and shall include the following:
(1) A statement of the director's intention to consider adopting, amending or rescinding a rule;
(2) A brief synopsis or a general statement of the proposed rule, regulation, amendment or rescission thereof, or a general statement of the subject matter to which the proposed rule relates;
(3) A statement of the reason or purpose for adopting, amending or rescinding the rule; and
(4) The date, time and place of a hearing on the proposed action.
(B) The director shall furnish the public notice required under section 119.03 of the Revised Code and as detailed by paragraph (A) of this rule to any person who requests notice in writing and who supplies an addressed, stamped envelope. Such requests shall be responded to promptly, but the director cannot in all cases guarantee notice thirty days prior to the hearing date.
(C) This rule is adopted in accordance with the express provisions of division (A) of section 119.03 of the Revised Code.
(A) Any person may request notice of the time and place of all regularly scheduled meetings of the board and the time, place, and purpose of all special meetings. Requests for meeting notice may be submitted in writing to the following address: Minority Development Financing Advisory Board, Ohio Department of Development, 77 South High Street, Columbus, Ohio 43215 or by e-mail to MBED@development.ohio.gov or such other e-mail address as may be published from time to time by the department of development, minority business enterprise division, on its website.
(B) Any representative of the news media may obtain notice of all special meetings by requesting in writing that such notice be provided. A request for such notification shall be addressed to: Ohio Department of Development, Communications and Marketing Division, 77 South High Street, Columbus, Ohio 43215. The request shall provide the name of the individual media representative to be contacted, his mailing address, an electronic mail address, and a maximum of two telephone numbers where he can be reached. The Communications and Marketing Division shall maintain a list of all representatives of the news media who have requested notice of special meetings pursuant to this rule.
(C) In the event of a special meeting not of an emergency nature, the Communications and Marketing Division shall notify all media representatives on the list for notice of such meeting by doing at least one of the following:
(1) Sending written notice, which must be mailed no later than twenty-four hours prior to the time of the special meeting.
(2) Notifying such representatives by telephone no later than twenty-four hours prior to the special meeting. Such telephone notice shall be complete if a message has been left for the representative.
(3) Informing such representative personally no later than twenty-four hours prior to the special meeting.
(D) In the event of a special meeting of an emergency nature requiring immediate official action, the Communications and Marketing Division shall notify all media representatives on the list compiled in paragraph (B) of this rule, by providing either the notice described in paragraph (C)(2) of this rule or the notice described in paragraph (C)(3) of this rule. In such event, however, the notice need not be given twenty-four hours prior to the meeting, but shall be given as soon as reasonably possible.
(A) In order to apply for assistance under the minority business bonding program, a business shall submit the following:
(1) A certification by the equal employment opportunity coordinator of the department of administrative services under division (B)(1) of section 123.151 of the Revised Code that the applicant is a minority business enterprise .
(2) Payment of a premium for each bond issued in an amount to be established by the director, with the advice of the board after the director receives advice from the superintendent of insurance regarding the standard market rates for premiums for similar bonds. All premiums for business bonds shall be paid in advance in a lump sum and shall be paid into the minority business bonding program administrative and loss reserve fund.
(3) Evidence of insurance on the business in sufficient quantities.
(4) Personal guarantees of the principals of the business and the persons substantially involved in the business operations, as may be required by the director.
(5) Financial statements, balance sheets, income statements, and/or copies of filed federal tax statements on the business' past three years of operation, or, if the business has been in existence for less than three years, the financial statements, balance sheets, income statement, and/or copies of filed federal tax statements for its operations to date.
(6) Evidence, satisfactory to the director, that the project for which bonding is sought is economically feasible and will benefit the people of the state by increasing employment opportunities and expanding minority business enterprises.
(B) The maximum amount of any bond issued by the director under the minority business bonding program shall be one million dollars.
(C) Any business that shall have defaulted on a bond issued by the director under the minority business bonding program shall not be eligible for any other bond under the minority business bonding program.
(D) In the event of a default on a bond, the board shall recommend that the director take any action the director considers appropriate under the circumstances to enforce and protect the rights of the state of Ohio.
(E) The board shall recommend that a bond be canceled or refuse to recommend that a bond be issued to any business that knowingly misrepresents any information submitted to the board in its application.