Ohio § 6101.56
Full text of Ohio Ohio Revised Code § 6101.56, with citation guidance and answers to common questions.
§ 6101.56.
In anticipation of the collection of assessments for any year levied under sections 6101.53 and 6101.55 of the Revised Code , the board of directors of a conservancy district may borrow money and issue notes
therefor; but the aggregate of such loans made in any year shall not exceed one half
of the total amount estimated by the county auditors of the several counties in the
district to be received from the collection of the assessments for such year, after
deduction of all advances from such collection. Such estimate shall state separately the amount to be received from each semiannual
division of such collection. A sufficient amount for the payment of such notes at maturity, together with interest
thereon, shall be deemed appropriated from the proceeds of such anticipated collection
and shall be used for no other purpose. The notes shall be for a term not longer than six months and shall bear interest
at a rate not to exceed the rate provided in section 9.95 of the Revised Code and the proceeds therefrom shall be used only for the purposes for which the assessments
were levied and appropriated. No district shall borrow money or issue notes in anticipation of the proceeds of
the first semiannual division of such collection before the first day of January of
the year of such collection, nor in anticipation of the proceeds of the second division
of such semiannual collection before the first day of July of the year of such collection.
Frequently Asked Questions About Ohio § 6101.56
What does Ohio Revised Code § 6101.56 cover?
Section 6101.56 is part of the Ohio Revised Code, the codified statutory law of Ohio. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Ohio § 6101.56?
A common citation format is "Ohio Revised Code § 6101.56" (Ohio). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Ohio law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Ohio official source linked on this page or consult a licensed Ohio attorney.
How does Ohio § 6101.56 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Ohio can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Ohio.