Lawriter - OAC - 4981-1-04 Administration of loans/bonds/grants.

4981-1-04 Administration of loans/bonds/grants.

The ORDC shall administer loans, bonds and grants to provide financial assistance for qualified rail projects in the state of Ohio, as prescribed in this chapter of the Administrative Code.

In authorizing financial assistance, the ORDC shall use prudent financial guidelines related to the desirability, timing, and relative risk of the project. The ORDC shall not undertake projects which, in the ORDC's determination, are of limited public use or could be considered for full funding by private financial institutions without the financial assistance of the ORDC.

R.C. 119.032 review dates: 05/13/2014 and 05/12/2019
Promulgated Under: 111.15
Statutory Authority: 4981.14
Rule Amplifies: ORC Chapter 4981
Prior Effective Dates: 10/31/96 (Emer.), 1/10/97