Ohio § 725.09

§ 725.09.

(A) Urban renewal bonds issued pursuant to divisions (A) and (C) of section 725.05 of the Revised Code do not constitute a debt, or a pledge of the faith and credit of the issuing municipal

corporation. All such urban renewal bonds described in this division shall contain on the face

thereof a statement to the effect that the bonds, as to both principal and interest,

are not a general obligation of the issuing municipal corporation but are payable

solely from receipts pledged for their payment. (B) Urban renewal bonds issued pursuant to division (B) of section 725.05 of the Revised Code shall constitute a debt and shall include a pledge of the full faith and credit of

the issuing municipal corporation. All such urban renewal bonds described in this division shall contain on the face

thereof a statement to the effect that the bonds, as to both principal and interest,

are a general obligation of the issuing municipal corporation and include a pledge

of the full faith and credit of the issuing municipal corporation. (C) Section 9.96 and sections 9.98 to 9.983 of the Revised Code are applicable to urban renewal bonds, but urban renewal bonds need not comply with

and are not subject to the limitations or requirements of any other law applicable

to the issuance of bonds and notes or net indebtedness including, but not limited

to, Chapter 133. of the Revised Code. (D) Urban renewal bonds and coupons attached thereto shall be executed in the name of

the municipal corporation by the manual or facsimile signatures of such official or

officials as are then empowered by law to execute bonds payable from the general funds

of such municipal corporation.  In case any officer whose manual or facsimile signature appears on any such bond

or coupon shall cease to be such officer before the delivery of such bonds, such signature

shall nevertheless be valid and sufficient for all purposes as if he had remained

in office until such delivery.  The ordinance or trust agreement may provide for the certification or authentication

of the bonds by the trustee, bond registrar, or fiscal agent thereunder.