Ohio § 505.701
Full text of Ohio Ohio Revised Code § 505.701, with citation guidance and answers to common questions.
§ 505.701.
The board of trustees of any township, through unanimous vote of its membership, may
designate, participate in, and cooperate with any community improvement corporation
organized under Chapter 1724. of the Revised Code and may give financial or other
assistance, including any fees generated by the corporation, to that corporation to
defray the expenses of the corporation. The corporation may use the board's contributions for any of its functions under
Chapter 1724. of the Revised Code subject to any limitations as may be provided by
resolution of the board of trustees. Any moneys contributed by the board to the corporation shall be drawn from the general
fund of the township not otherwise appropriated. In addition, the board may purchase real property for the purpose of transferring
that property to the community improvement corporation. In order to finance the purchase of that real property, the board may issue general
obligation bonds of the township in accordance with Chapter 133. of the Revised Code,
for which the full faith and credit of the township shall be pledged.
Frequently Asked Questions About Ohio § 505.701
What does Ohio Revised Code § 505.701 cover?
Section 505.701 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 § 505.701?
A common citation format is "Ohio Revised Code § 505.701" (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 § 505.701 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.