The state infrastructure bank shall be administered by the director of transportation through the division of finance of the Ohio department of transportation.
The director shall administer the state infrastructure bank to provide financial assistance for qualified transportation projects in the state of Ohio, as prescribed in this chapter of the Administrative Code.
In authorizing financial assistance through the state infrastructure bank, the director shall use prudent financial guidelines related to the desirability, timing, and relative risk of the project. The director shall not undertake projects which, in the director's determination, are of limited public use or could be considered for full funding by private financial institutions without the financial assistance of the state infrastructure bank.
R.C. 119.032 review dates: 09/18/2012 and 11/01/2017
Promulgated Under: 111.15
Statutory Authority: 5531.09
Rule Amplifies: 5531.09 , 5531.10
Prior Effective Dates: 9/10/96 (Emer.), 11/22/96, 11/1/07