Section 5705.16 | Resolution for transfer of funds; petition; approval or disapproval by tax commissioner.
A resolution of the taxing authority of any political subdivision shall be passed by a majority of all the members thereof, declaring the necessity for the transfer of funds authorized by section 5705.15 of the Revised Code, and such taxing authority shall submit to the tax commissioner a petition that includes the name and amount of the fund, the fund to which it is desired to be transferred, a copy of such resolution with a full statement of the proceedings pertaining to its passage, and the reason or necessity for the transfer. The commissioner shall approve the transfer of such funds upon determining each of the following:
(A) The petition states sufficient facts;
(B) That there are good reasons, or that a necessity exists, for the transfer;
(C) No injury will result from the transfer of such funds.
If the petition is disapproved by the commissioner, it shall be returned within ten days of its receipt to the officers who submitted it, with a memorandum of the commissioner's objections, and the taxing authority shall not transfer the funds as requested by the petition. This disapproval shall not prejudice a later application for approval. If the petition is approved by the commissioner, it shall be returned within ten days of its receipt to the officers who submitted it, and the taxing authority may transfer the funds as requested by the petition.
Available Versions of this Section
- September 29, 2011 – House Bill 153, 129th General Assembly [ View September 29, 2011 Version ]
- September 29, 2017 – Amended by House Bill 49, 132nd General Assembly [ View September 29, 2017 Version ]
- September 30, 2021 – Amended by House Bill 110, 134th General Assembly [ View September 30, 2021 Version ]