Ohio § 5705.10

§ 5705.10.

(A) All revenue derived from the general levy for current expense within the ten-mill

limitation, from any general levy for current expense authorized by vote in excess

of the ten-mill limitation, and from sources other than the general property tax,

unless its use for a particular purpose is prescribed by law, shall be paid into the

general fund. (B) All revenue derived from general or special levies for debt charges, whether within

or in excess of the ten-mill limitation, which is levied for the debt charges on serial

bonds, notes, or certificates of indebtedness having a life less than five years,

shall be paid into the bond retirement fund;  and all such revenue which is levied

for the debt charges on all other bonds, notes, or certificates of indebtedness shall

be paid into the sinking fund. (C) All revenue derived from a special levy shall be credited to a special fund for the

purpose for which the levy was made. (D) Except as otherwise provided by resolution adopted pursuant to section 3315.01 of the Revised Code , all revenue derived from a source other than the general property tax and which

the law prescribes shall be used for a particular purpose, shall be paid into a special

fund for such purpose.  Except as otherwise provided by resolution adopted pursuant to section 3315.01 of the Revised Code or as otherwise provided by section 3315.40 of the Revised Code , all revenue derived from a source other than the general property tax, for which

the law does not prescribe use for a particular purpose, including interest earned

on the principal of any special fund, regardless of the source or purpose of the principal,

shall be paid into the general fund. (E) All proceeds from the sale of public obligations or fractionalized interests in public

obligations as defined in section 133.01 of the Revised Code , except premium and accrued interest, shall be paid into a special fund for the purpose

of such issue, and any interest and other income earned on money in such special fund

may be used for the purposes for which the indebtedness was authorized or may be credited

to the general fund or other fund or account as the taxing authority authorizes and

used for the purposes of that fund or account.  The premium and accrued interest received from such sale shall be paid into the

sinking fund or the bond retirement fund of the subdivision. (F) Except as provided in divisions (G) and (H) of this section, if a permanent improvement

of the subdivision is sold, the amount received from the sale shall be paid into the

sinking fund, the bond retirement fund, or a special fund for the construction or

acquisition of permanent improvements;  provided that the proceeds from the sale of

a public utility shall be paid into the sinking fund or bond retirement fund to the

extent necessary to provide for the retirement of the outstanding indebtedness incurred

in the construction or acquisition of such utility.  Proceeds from the sale of property other than a permanent improvement shall be paid

into the fund from which such property was acquired or is maintained or, if there

is no such fund, into the general fund. (G) A township that has a population greater than fifteen thousand according to the most

recent federal decennial census and that has declared one or more improvements in

the township to be a public purpose under section 5709.73 of the Revised Code may pay proceeds from the sale of a permanent improvement of the township into its

general fund if both of the following conditions are satisfied: (1) The township fiscal officer determines that all foreseeable public infrastructure

improvements, as defined in section 5709.40 of the Revised Code , to be made in the township in the ten years immediately following the date the permanent

improvement is sold will have been financed through resolutions adopted under section 5709.73 of the Revised Code on or before the date of the sale.  The fiscal officer shall provide written certification of this determination for

the township's records. (2) The permanent improvement being sold was financed entirely from moneys in the township's

general fund. (H) If a board of education of a school district disposes of real property under section 3313.41 , 3313.411 , or 3313.413 of the Revised Code , the proceeds received on or after September 29, 2013, from the sale shall be used

for either of the following purposes: (1) The retirement of any debt that was incurred by the district with respect to that

real property.  Proceeds in excess of the funds necessary to retire that debt may be paid into the

school district's capital and maintenance fund and used only to pay for the costs

of nonoperating capital expenses related to technology infrastructure and equipment

to be used for instruction and assessment. (2) Payment into a special fund for the construction or acquisition of permanent improvements. (I) Money paid into any fund shall be used only for the purposes for which such fund

is established.