This website publishes administrative rules on their effective dates, as designated by the adopting state agencies, colleges, and
universities.
| Rule |
Rule 6121-2-01 | Definitions.
Effective:
October 14, 2024
For the purposes of Chapter 6121-2 of the
Administrative Code: (A) "Authority" means the Ohio
water development authority, a body corporate and politic organized and
existing under the provisions of Chapter 6121. of the Revised
Code. (B) "Governing body of the
Authority" means the eight members of the authority as set forth in
section 6121.02 of the Revised Code. (C) "Governmental agency,"
"governmental agencies," and "person" have the same
meanings as set forth in sections 6121.01 and 6123.01 of the Revised
Code. (D) "Program fund" means a fund
established under rule 6121-2-02 of the Administrative Code. (E) "Project" means anything
that would qualify as a "project" as defined by either section
6121.01 or 6123.01 of the Revised Code, and includes any research and
development activity conducted under division (O) of section 6121.04 or
division (L) of section 6123.04 of the Revised Code. (F) "Project cost" means
anything that qualifies as a "cost" as defined by section 6121.01 or
6123.01 of the Revised Code. (G) "Applicant" means any
governmental agency or person, or combination of governmental agencies or
persons, who has applied to the authority for a loan or grant to conduct,
acquire, or construct, or plan for the conduct, acquisition, or construction
of, a project. (H) "Borrower" means any
applicant who has executed a participation agreement for a loan made by the
Authority under rule 6121-2-03 of the Administrative Code. (I) "Participation agreement"
means a loan or grant agreement executed by the authority and an applicant
under rule 6121-2-03 of the Administrative Code. (J) "Contract term" means the
length of time that a participation agreement is to be in effect once it has
been executed by both the authority and the applicant. (K) "Participation charge"
means any payment to the authority that a borrower is required to make under a
participation agreement. (L) "Institution of higher
learning" means an educational institution in any state that - (1) admits
as regular students only persons having a certificate of graduation from a
school providing secondary education, or the recognized equivalent of such a
certificate; (2) is legally authorized within such state to provide a program
of education beyond secondary education; (3) provides an educational program
for which the institution awards a bachelor's degree or provides not less
than a two-year program that is acceptable for full credit toward such a
degree; (4) is a public or other nonprofit institution; and (5) is accredited
by a nationally recognized accrediting agency or association.
Last updated October 15, 2024 at 10:38 AM
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Rule 6121-2-02 | Establishment of program funds of the authority.
Effective:
October 14, 2024
From time to time, the governing body of the
authority may establish one or more funds for the purpose of making loans or
grants, or both, to governmental agencies or persons, or any combination of
agencies or persons, for the acquisition, construction, or refinancing, or for
planning the acquisition, construction, or refinancing, or for the conduct, of
projects pursuant to Chapter 6121. or 6123. of the Revised Code, or both. With
respect to each such fund, the governing body shall establish a separate
program of the authority by complying with the requirements of this rule. Prior
to making any loans or grants from any program fund, the governing body shall
approve all of the following: (A) A set of applicant eligibility
criteria to be used as non-binding guidelines for approving loans or grants
from the fund; (B) One or more standard form
agreements to be used as non-binding guidelines for negotiating and executing
loan or grant participation agreements between the authority and program fund
applicants; (C) For the purpose of loans from the
fund, one or more standard formulae or methods to be used as non-binding
guidelines in determining interest rates, if any, to be charged to borrowers
from the fund under participation agreements executed between the authority and
applicants; (D) Any other non-binding guidelines
that the governing body approves for use in implementing the
program.
Last updated October 15, 2024 at 10:39 AM
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Rule 6121-2-03 | Approval of loans or grants.
Effective:
October 14, 2024
(A) From monies of the authority, or
under the control of the authority, that, by the governing body or by law, have
been allocated to a program fund established pursuant to rule 6121-2-02 of the
Administrative Code, the governing body may approve a loan or grant to an
applicant if all of the following apply: (1) The applicant has supplied to the
executive director of the authority, in such form and manner as they prescribe,
all information needed to determine each of the following: (a) That the project to be funded by
the loan or grant is one that may be lawfully financed or re-financed by the
authority pursuant to Chapter 6121. or 6123. of the Revised Code; (b) That the applicant may lawfully
acquire, construct, or re-finance debt, or plan for the acquisition or
construction of, or conduct, the project; (c) That the applicant has the
ability to comply with all the terms and conditions of the participation
agreement executed between the authority and the applicant; (2) The applicant shall submit to the
executive director of the authority a participation agreement containing terms
and conditions satisfactory to the governing body of the
authority. (B) Upon approval of the loan or
grant by the governing body, the executive director shall sign and otherwise
complete the execution of the participation agreement on behalf of the
authority.
Last updated October 15, 2024 at 10:39 AM
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Rule 6121-2-04 | Participation agreements.
Effective:
October 14, 2024
In approving standard form loan participation
agreements pursuant to rule 6121-2-02 of the Administrative Code, the governing
body of the authority shall determine the manner in which each form agreement
addresses all of the following: (A) The contract term, which will comply
with Chapter 6121. or 6123. of the Revised Code as applicable. (B) The project costs to be paid by the
authority and the method by which they will be paid; (C) The interest rate, if any, to be
applied to the agreement, which, generally, will be based upon the standard
method, formula, or formulae for the program approved by the governing body
pursuant to rule 6121-2-02 of the Administrative Code; (D) The participation charges, if any, to
be paid by the borrower, including the commencement date and regular interval
dates upon which such payments will be due; (E) The rights of the authority to
inspect records, accounts, and other data of the borrower pertaining to the
project and to inspect the facilities acquired or constructed, or in the
process of being acquired or constructed, pursuant to the loan
agreement; (F) The rights, remedies, and obligations
of the authority and the borrower in case of default, breach, or termination of
the agreement before the end of the contract term; and (G) Any other types of terms or
conditions that the governing body considers appropriate for inclusion in
standard form agreements for the program.
Last updated October 15, 2024 at 10:40 AM
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Rule 6121-2-05 | Maintenance of tax exempt status of bonds and notes.
Effective:
April 27, 2000
The governing body of the authority shall not approve a loan if the loan, in the opinion of the authority's counsel, would jeopardize the tax-exempt status of bonds or notes issued by the authority.
Last updated August 6, 2024 at 10:32 AM
Supplemental Information
Authorized By:
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Amplifies:
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Five Year Review Date:
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Rule 6121-2-11 | Research and development grants.
Effective:
October 14, 2024
(A) In awarding grants for purposes of
research and development, the governing body of the authority shall give
priority to all of the following: (1) Projects that would
fulfill a general need in Ohio for research or development concerning
"waste water facilities" or "water management facilities"
as defined in section 6121.01 of the Revised Code, "solid waste
facilities" as defined in section 6123.01 of the Revised Code, or
"energy resource development facilities" as defined in section
1551.01 of the Revised Code; (2) Projects that have
statewide environmental, natural resource, or development
application; (3) Applicants who would
furnish a portion of the cost of the project either by direct funding or by
allocation of staff, equipment, or material resources; (4) Applicants that are
governmental agencies, other than departments, divisions, or other similar
units of state government or the federal government; and (5) Institutions of
higher learning. (B) The governing body of the authority
shall not approve a research and development grant unless the applicant agrees
to submit to the authority and the overseeing state agency a final report
describing how the benefits derived from the project fulfill one or more
general needs as specified in paragraph (A)(1) of this rule.
Last updated October 15, 2024 at 10:39 AM
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