Ohio Admin. Code 111:3-3-04 - Repayment of loans
(A) Counties shall lease from the secretary
the equipment financed in part from the loan fund and shall be required to
comply with any loan fund agreement or other agreement required under the
applicable bond proceedings.
(B)
All automatic tabulating equipment, marking devices, and voting machines
purchased through the loan fund shall remain the
property of the state, and the state shall retain title until all payments
under the applicable county lease have been made. After final payment has been
made, title shall transfer to the county.
(C) If the final cost of capital facilities
is less expensive than the estimated total cost, then the loan fund must be
reimbursed for its contributions that exceed the agreed upon percentage from
the loan fund. A county has thirty days to reimburse the loan fund if such an
event were to occur
occurs .
(D) Repayment of the loan shall be made by
equal monthly, quarterly, semi-annual, or annual payments not to exceed a
period of five years. The payment schedule shall be agreed on by the county and
the secretary before the funding request is approved. If a county wishes to
change the agreed upon payment schedule, then the secretary must approve the
new payment schedule before it becomes effective.
(E) Interest shall not accrue on loans made
to counties from the loan fund.
(F)
Costs associated with the maintenance, repair, and operation of the automatic
tabulating equipment, marking devices, and voting machines purchased shall be
the responsibility of the participating county board of elections and boards of county
commissioners.
(G) No board of
county commissioners may apply for and receive a loan if that county currently
has an outstanding loan from the loan fund,
which
that is in default.
Notes
Promulgated Under: 119.03
Statutory Authority: 111.26
Rule Amplifies: 111.26, 154.24
Prior Effective Dates: 01/07/2011, 01/25/2016
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