Ohio § 5528.16
Full text of Ohio Ohio Revised Code § 5528.16, with citation guidance and answers to common questions.
§ 5528.16.
In the event the moneys to the credit of the highway improvement bond retirement fund
created by section 5528.12 of the Revised Code are insufficient to meet in full all payments of interest, principal, and charges
for the retirement of bonds and other obligations issued pursuant to Section 2g, Article VIII, Ohio Constitution and sections 5528.10 and 5528.11 of the Revised Code due and payable during the current calendar year, except the principal of notes which
the commissioners of the sinking fund certify will be retired by the issuance of bonds
or renewal notes, the commissioners of the sinking fund may on or before the fifteenth
day of January of any such year or any time or times during such calendar year but
shall in any event within ten days prior to the time any such payments are due certify
to the treasurer of state the total amount of such payments, the amount of moneys
to the credit of the highway improvement bond retirement fund created by section 5528.12 of the Revised Code , and the amount of additional money necessary to be credited to such bond retirement
fund to meet in full the payment of such interest, principal, or charges when due. Upon the receipt of such certification, or if on presentation for payment when due
of either principal or interest on the bonds or other obligations issued pursuant
to Section 2g of Article VIII, Ohio Constitution , there be insufficient moneys for payment of such principal and interest, the treasurer
of state shall transfer the amount required as the additional moneys necessary to
meet in full all payments of interest, principal, and charges for the retirement of
bonds and other obligations issued pursuant to Section 2g of Article VIII, Ohio Constitution , and sections 5528.10 and 5528.11 of the Revised Code to the highway improvement bond retirement fund created by section 5528.12 of the Revised Code from the undistributed revenues derived from fees, excise, or license taxes, levied
by the state, relating to registration, operation, or use of vehicles on public highways,
or to fuels used for propelling such vehicles.
Frequently Asked Questions About Ohio § 5528.16
What does Ohio Revised Code § 5528.16 cover?
Section 5528.16 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 § 5528.16?
A common citation format is "Ohio Revised Code § 5528.16" (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 § 5528.16 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.