What is the Infrastructure Bond Bank?
Published: Oct 03, 2017 by Luther LiggettThe Ohio Senate is considering legislation to amend the Ohio Constitution, permitting local governments to borrow from a Bond Bank for infrastructure construction projects.
House Bill 54 is sponsored by Representative Bill Blessing (R, Cincinnati) and Representative Theresa Gavarone (R, Bowling Green), passing the Ohio House one vote short of unanimous.
If signed into law, the bill would create the State Bond Bank to issue tax-exempt bonds, to be re-paid by local government borrowers.
The localities would pool their needs rather than enter into smaller, uneconomical debt, creating economies of scale. The Ohio Treasurer would administer the funds.
If you have questions, please do not hesitate to contact attorney Luther L. Liggett of Graff & McGovern at 614-228-5800, x-6.