5528.38 Certifying sufficient moneys to meet bond payments for highway obligations bond retirement fund for two years.

When the moneys to the credit of the highway obligations bond retirement fund, created by section 5528.32 of the Revised Code, are sufficient, taking into consideration restrictions provided for in the second paragraph of section 5528.31 of the Revised Code on the use thereof to the payment only of principal of specified issues of notes or of bonds to meet in full all payments of interest, principal, and charges for the retirement of highway obligations issued pursuant to Section 2i of Article VIII, Ohio Constitution, and sections 5528.30 and 5528.31 of the Revised Code due and payable during the current calendar year and the next succeeding calendar year, except the principal of notes which the commissioners of the sinking fund certify will be retired by the issuance of bonds or renewal notes, the commissioners of the sinking fund shall certify such fact to the treasurer of state.

Effective Date: 11-05-1969