(A) To the extent permitted by federal law, the director of transportation may fix, revise, charge, and collect tolls for each toll project, and contract with any person or governmental agency desiring the use of any part thereof, including the right-of-way adjoining the paved portion, for placing thereon telephone, electric light, or power lines, service facilities, or for any other purpose, and fix the terms, conditions, rents, and rates of charge for such use; provided, that no toll, charge, or rental may be made for placing in, on, along, over, or under the toll project, equipment or public utility facilities that are necessary to serve service facilities or to interconnect any public utility facilities.
In accordance with Chapter 119. of the Revised Code, the director shall establish a plan, schedule, or system of tolls or charges and shall declare the purpose, amount, and duration of the tolls or charges. Any proposal to implement a toll or other charge under this section may include a plan, schedule, or system of tolls or charges that is subject to adjustment by the director within and in accordance with that plan, schedule, or system.
(B) For any toll imposed under this section, the department of transportation may use a system for toll collection that is capable of charging an account holder the appropriate toll or charge by transmission of information from an electronic device on a motor vehicle to the toll lane, which information is used to charge the account holder the appropriate toll or charge.
(C) One or more tolls, or a portion of any toll, may be pledged to the repayment of obligations in the bond proceedings for those obligations and shall be a pledged receipt for those obligations to the extent pledged in those bond proceedings.
(D) Tolls shall be so fixed and adjusted as to provide funds at least sufficient with other revenues of the Ohio transportation system, if any, to pay:
(1) Any bond service charges on obligations issued to pay costs of one or more toll projects as such charges become due and payable;
(2) The cost of maintaining, improving, repairing, constructing, and operating toll projects within the state highway system and its different parts and sections, and to create and maintain any reserves for those purposes.
(E) Except as provided in division (F) of this section, money received from tolls imposed under this section shall be deposited to the credit of the Ohio toll fund, which is hereby created in the state treasury. The treasurer of state may establish separate subaccounts within the Ohio toll fund as determined to be necessary or convenient to pay costs of constructing, improving, repairing, maintaining, administering, and operating toll projects within the state highway system. Any remaining money deposited into the Ohio toll fund shall be used at the discretion of the director to support construction, improvement, repair, maintenance, administration, and operation costs for approved toll projects and highway projects within one mile of a toll project. All investment earnings of the fund shall be credited to the fund.
(F) The issuing authority shall, by the fifteenth day of July of each fiscal year, certify or cause to be certified to the department of transportation and the office of budget and management the total amount of money required during the current fiscal year to meet in full all bond service charges and otherwise comply with the requirements of any applicable bond proceedings. The issuing authority shall make or cause to be made supplemental certifications to the department of transportation and the office of budget and management for each bond service payment date and at such other times during each fiscal year as may be provided in the applicable bond proceedings or required by that department or office. Bond service charges, costs of credit enhancement facilities, other financing costs, and any other amounts required under the applicable bond proceedings shall be set forth separately in each certification. Money received from tolls and other pledged receipts shall be deposited to the credit of the bond service fund at such times and in such amounts as are necessary to satisfy all those payment requirements of the applicable bond proceedings. When all bonds issued in connection with any toll project and the interest on the bonds have been paid, or a sufficient amount for the payment of all such bonds and the interest on the bonds to the maturity of the bonds has been set aside in trust for the benefit of the bondholders, the project shall be operated, improved, and maintained by the department of transportation as a part of the state highway system and shall be free of tolls.
Added by 128th General Assembly ch. 1, HB 2, § 101.01, eff. 7/1/2009.
(A) To the extent permitted by federal law, the director of transportation may fix, revise, charge, and collect tolls for each toll project, and contract with any person or governmental agency desiring the use of any part thereof, including the right-of-way adjoining the paved portion, for placing thereon telephone, electric light, or power lines, service facilities, or for any other purpose, and fix the terms, conditions, rents, and rates of charge for such use; provided, that no toll, charge, or rental may be made for placing in, on, along, over, or under the toll project, equipment or public utility facilities that are necessary to serve service facilities or to interconnect any public utility facilities.
In accordance with Chapter 119. of the Revised Code, the director shall establish a plan, schedule, or system of tolls or charges and shall declare the purpose, amount, and duration of the tolls or charges. Any proposal to implement a toll or other charge under this section may include a plan, schedule, or system of tolls or charges that is subject to adjustment by the director within and in accordance with that plan, schedule, or system.
(B) For any toll imposed under this section, the department of transportation may use a system for toll collection that is capable of charging an account holder the appropriate toll or charge by transmission of information from an electronic device on a motor vehicle to the toll lane, which information is used to charge the account holder the appropriate toll or charge.
(C) One or more tolls, or a portion of any toll, may be pledged to the repayment of obligations in the bond proceedings for those obligations and shall be a pledged receipt for those obligations to the extent pledged in those bond proceedings.
(D) Tolls shall be so fixed and adjusted as to provide funds at least sufficient with other revenues of the Ohio transportation system, if any, to pay:
(1) Any bond service charges on obligations issued to pay costs of one or more toll projects as such charges become due and payable;
(2) The cost of maintaining, improving, repairing, constructing, and operating toll projects within the state highway system and its different parts and sections, and to create and maintain any reserves for those purposes.
(E) Except as provided in division (F) of this section, money received from tolls imposed under this section shall be deposited to the credit of the Ohio toll fund, which is hereby created in the state treasury. The treasurer of state may establish separate subaccounts within the Ohio toll fund as determined to be necessary or convenient to pay costs of constructing, improving, repairing, maintaining, administering, and operating toll projects within the state highway system. Any remaining money deposited into the Ohio toll fund shall be used at the discretion of the director to support construction, improvement, repair, maintenance, administration, and operation costs for approved toll projects and highway projects within one mile of a toll project. All investment earnings of the fund shall be credited to the fund.
(F) The issuing authority shall, by the fifteenth day of July of each fiscal year, certify or cause to be certified to the department of transportation and the office of budget and management the total amount of money required during the current fiscal year to meet in full all bond service charges and otherwise comply with the requirements of any applicable bond proceedings. The issuing authority shall make or cause to be made supplemental certifications to the department of transportation and the office of budget and management for each bond service payment date and at such other times during each fiscal year as may be provided in the applicable bond proceedings or required by that department or office. Bond service charges, costs of credit enhancement facilities, other financing costs, and any other amounts required under the applicable bond proceedings shall be set forth separately in each certification. Money received from tolls and other pledged receipts shall be deposited to the credit of the bond service fund at such times and in such amounts as are necessary to satisfy all those payment requirements of the applicable bond proceedings. When all bonds issued in connection with any toll project and the interest on the bonds have been paid, or a sufficient amount for the payment of all such bonds and the interest on the bonds to the maturity of the bonds has been set aside in trust for the benefit of the bondholders, the project shall be operated, improved, and maintained by the department of transportation as a part of the state highway system and shall be free of tolls.
Added by 128th General Assembly ch. 1, HB 2, § 101.01, eff. 7/1/2009.
(A) To the extent permitted by federal law, the director of transportation may fix, revise, charge, and collect tolls for each toll project, and contract with any person or governmental agency desiring the use of any part thereof, including the right-of-way adjoining the paved portion, for placing thereon telephone, electric light, or power lines, service facilities, or for any other purpose, and fix the terms, conditions, rents, and rates of charge for such use; provided, that no toll, charge, or rental may be made for placing in, on, along, over, or under the toll project, equipment or public utility facilities that are necessary to serve service facilities or to interconnect any public utility facilities.
In accordance with Chapter 119. of the Revised Code, the director shall establish a plan, schedule, or system of tolls or charges and shall declare the purpose, amount, and duration of the tolls or charges. Any proposal to implement a toll or other charge under this section may include a plan, schedule, or system of tolls or charges that is subject to adjustment by the director within and in accordance with that plan, schedule, or system.
(B) For any toll imposed under this section, the department of transportation may use a system for toll collection that is capable of charging an account holder the appropriate toll or charge by transmission of information from an electronic device on a motor vehicle to the toll lane, which information is used to charge the account holder the appropriate toll or charge.
(C) One or more tolls, or a portion of any toll, may be pledged to the repayment of obligations in the bond proceedings for those obligations and shall be a pledged receipt for those obligations to the extent pledged in those bond proceedings.
(D) Tolls shall be so fixed and adjusted as to provide funds at least sufficient with other revenues of the Ohio transportation system, if any, to pay:
(1) Any bond service charges on obligations issued to pay costs of one or more toll projects as such charges become due and payable;
(2) The cost of maintaining, improving, repairing, constructing, and operating toll projects within the state highway system and its different parts and sections, and to create and maintain any reserves for those purposes.
(E) Except as provided in division (F) of this section, money received from tolls imposed under this section shall be deposited to the credit of the Ohio toll fund, which is hereby created in the state treasury. The treasurer of state may establish separate subaccounts within the Ohio toll fund as determined to be necessary or convenient to pay costs of constructing, improving, repairing, maintaining, administering, and operating toll projects within the state highway system. Any remaining money deposited into the Ohio toll fund shall be used at the discretion of the director to support construction, improvement, repair, maintenance, administration, and operation costs for approved toll projects and highway projects within one mile of a toll project. All investment earnings of the fund shall be credited to the fund.
(F) The issuing authority shall, by the fifteenth day of July of each fiscal year, certify or cause to be certified to the department of transportation and the office of budget and management the total amount of money required during the current fiscal year to meet in full all bond service charges and otherwise comply with the requirements of any applicable bond proceedings. The issuing authority shall make or cause to be made supplemental certifications to the department of transportation and the office of budget and management for each bond service payment date and at such other times during each fiscal year as may be provided in the applicable bond proceedings or required by that department or office. Bond service charges, costs of credit enhancement facilities, other financing costs, and any other amounts required under the applicable bond proceedings shall be set forth separately in each certification. Money received from tolls and other pledged receipts shall be deposited to the credit of the bond service fund at such times and in such amounts as are necessary to satisfy all those payment requirements of the applicable bond proceedings. When all bonds issued in connection with any toll project and the interest on the bonds have been paid, or a sufficient amount for the payment of all such bonds and the interest on the bonds to the maturity of the bonds has been set aside in trust for the benefit of the bondholders, the project shall be operated, improved, and maintained by the department of transportation as a part of the state highway system and shall be free of tolls.
Added by 128th General Assembly ch. 1, HB 2, § 101.01, eff. 7/1/2009.
