Ohio § 6121.03

§ 6121.03.

(A) It is hereby declared to be the public policy of the state through the operations

of the Ohio water development authority under this chapter to contribute toward one

or more of the following: (1) To preserve, protect, upgrade, conserve, develop, utilize, and manage the water resources

of the state; (2) To prevent or abate the pollution of water resources; (3) To promote the beneficial use of waters of the state for the protection and preservation

of the public health, safety, convenience, and welfare; (4) To assist in the financing of waste water facilities and water management facilities

for industry, commerce, distribution, and research, including public utility companies; (5) To create or preserve jobs and employment opportunities or improve the economic welfare

of the people of the state, or to assist and cooperate with governmental agencies

in achieving such purposes. (B) In furtherance of such public policy, the Ohio water development authority may do

all of the following: (1) Initiate, acquire, construct, maintain, repair, and operate water development projects

or cause the same to be operated pursuant to a lease, sublease, or agreement with

any person or governmental agency; (2) Make loans and grants to governmental agencies for the acquisition, construction,

or refinancing of waste water or water management facilities by such governmental

agencies and provide for the financing and refinancing of such loans; (3) Make loans to persons for the acquisition, construction, or refinancing of waste

water facilities or water management facilities by such persons; (4) Issue water development revenue bonds of this state payable solely from revenues,

to pay the cost of or refinance such projects, provided that, except for facilities

for pollution control or solid waste disposal, no such financing assistance shall

be made for facilities to be constructed for the purpose of providing electric or

gas utility service to the public. (C) Any water development project shall be determined by the authority to be consistent

with any applicable comprehensive plan of water management approved by the director

of environmental protection or in the process of preparation by such director and

to be not inconsistent with the standards set for the waters of the state affected

thereby by the director of environmental protection.  Any resolution of the authority providing for acquiring or constructing such projects

or for making a loan or grant for such projects shall include a finding by the authority

that such determinations have been made.  Determinations by resolution of the authority that a project is a waste water facility

or a water management facility under this chapter and is consistent with the purposes

of Section 13 of Article VIII, Ohio Constitution , and this chapter shall be conclusive as to the validity and enforceability of the

water development revenue bonds issued to finance or refinance such project and of

the resolutions, trust agreements or indentures, leases, subleases, sale agreements,

loan agreements and other agreements made in connection therewith, all in accordance

with their terms.