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The Legislative Service Commission staff updates the Revised Code on an ongoing basis, as it completes its act review of enacted legislation. Updates may be slower during some times of the year, depending on the volume of enacted legislation.

Section 703.372 | Unvoted debt.

Ohio Revised Code
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Title 7 Municipal Corporations
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Chapter 703 Classification
 
Section 703.372 is not yet in effect. It takes effect April 30, 2024.
Effective:
April 30, 2024
Latest Legislation:
House Bill 101 - 135th General Assembly
PDF:
Download Authenticated PDF
 

Except as expressly provided in sections 703.377 and 703.378 of the Revised Code, the township or townships into which the territory of a village is dissolved do not assume the voted debts, obligations, or liabilities of the village.

Unvoted debt serviced by property taxes levied within the ten-mill limitation shall be assumed by the township or townships into which the territory of the village is dissolved in proportion to the total assessed valuation of territory that each township has within the former boundaries of the dissolved village as compared to the total assessed valuation of all territory within the former boundaries of the dissolved village. For the purpose of this section, the total assessed valuation of village territory shall be determined based on the tax year in which the dissolution is effective.

Last updated February 13, 2024 at 10:43 AM

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