901.61 Agricultural financing commission creation.

(A) There is hereby created the agricultural financing commission as a commission of the state within the department of agriculture.

(B) The commission may employ an executive director and a secretary-treasurer and such other employees as the commission considers necessary or appropriate and may fix the compensation thereof. The department shall provide staff and provide space to the commission so far as that is practical, and the commission shall restrict employment, in addition to an executive director, to the filling of special needs which cannot be filled from the department.

(C) All expenses incurred by the commission in carrying out its powers and duties shall be payable solely from funds provided under this chapter or Chapter 902. of the Revised Code or appropriated for such purposes by the general assembly, and no liability or obligation shall be incurred by the commission beyond the extent to which moneys have been provided under those chapters or such appropriations. The carrying out of the purposes and the exercise by the commission of its powers conferred by this chapter shall be held to be, and are hereby determined to be, essential public functions and public purposes of the state.

(D) There is hereby established in the state treasury the agricultural financing commission administration fund. Subject to the rights of holders of bonds issued under Chapter 902. of the Revised Code, revenues of the commission of the type and amounts determined by the commission, or not otherwise provided for by the commission shall be credited to the fund. All expenses and costs of the commission, including costs that may be paid from proceeds of bonds issued under Chapter 902. of the Revised Code, and including reimbursement of, or payment to any other fund, the department of agriculture, and any other department, board, or agency for advances made or services rendered to the commission, may be paid from the fund as determined by or pursuant to directions of the commission. Income from investments of moneys in the fund shall be credited to the fund.

(E) Rules of the commission having a general and uniform operation shall be adopted by the commission in accordance with Chapter 119. of the Revised Code. The commission shall not be required to adopt rules pursuant to section 111.15 or Chapter 119. of the Revised Code if the subject of the rule is any of the following:

(1) A rule, amendment, or rescission relating to an individual or single issuance of bonds or bonds sold under a single composite marketing arrangement pursuant to Chapter 902. of the Revised Code or the application of the proceeds thereof;

(2) A rule, amendment, or rescission of an emergency nature;

(3) A rule, amendment, or rescission concerning the internal management of the commission;

(4) A rule, amendment, or rescission proposed by the commission to comply with a federal law or rule so long as the proposed rule, amendment, or rescission contains both of the following:

(a) A statement that it is proposed for the purpose of complying with a federal law or rule;

(b) A citation to the federal law or rule that requires compliance.

Cite as R.C. § 901.61

History. Effective Date: 07-01-1985