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State Issuers

The state of Ohio has two primary issuers of debt for which the state is the direct obligor and debt service is paid from state revenues. These issuers are the Ohio Public Facilities Commission and the Treasurer of State. The table below shows the purposes of bonds issued by each and the source of state funds used to pay debt service on those bonds.

Ohio Public Facilities Commission
The Ohio Public Facilities Commission (OPFC) is a body corporate and politic constituting an agency and instrumentality of the state. It is comprised of six members, being the incumbents in the elective offices of Governor John Kasich, Attorney General Mike Dewine, Auditor of State Dave Yost, Secretary of State Jon Husted, Treasurer of State Josh Mandel, and the OBM Director Timothy S. Keen, appointed by the governor with the consent of the senate, and serving at the pleasure of the governor). The governor serves as the chair, the Treasurer of State as the treasurer and the Director of Budget and Management as the secretary of the Commission. Commission members may, at Commission meetings, act through their appointed designees. The OPFC acts as the issuer of the state general obligation debt backed by the general revenue fund.

Treasurer of State
The Ohio Treasurer of State (TOS) acts as issuer of the general and special obligation direct debt listed below. The TOS is also the issuer of other obligations backed by dedicated state non-tax revenues and is a conduit issuer for industrial development bond programs (e.g., the Ohio Department of Development Enterprise Bond Fund).

SECURITY/PURPOSE OPFC TOS SOURCE OF STATE PAYMENT
General Obligations      
  Higher Education X   General Revenue Funds
  Common Schools X   General Revenue Funds
  Coal Development X   General Revenue Funds
  Natural Resources X   General Revenue Funds
  Conservation X   General Revenue Funds
  Local Infrastructure X   General Revenue Funds
  Third Frontier R&D X   General Revenue Funds
  Site Development X   General Revenue Funds
  Veterans Compensation X   General Revenue Funds
  Highways   X Highway User Receipts
       
Special Obligations (Lease Rental)      
  Mental Health   X General Revenue Funds
  Parks and Recreation   X General Revenue Funds
  Cultural & Sports Facilities   X General Revenue Funds
  Higher Education   X General Revenue Funds
  Administrative Facilities   X General Revenue Funds
  Correctional Facilities   X General Revenue Funds
  Youth Services Facilities   X General Revenue Funds
  Public Safety Facilities   X Highway User Receipts
  BWC Facilities   X BWC Admin. Cost Fund
       
Other Obligations      
  State Highway Infrastructure (GARVEE)   X Federal Transportation Grants

Other State Issuers

Other bond issuing authorities have been created by the state to administer programs or projects financed through the issuance of revenue bonds the debt service on which is secured by and paid from revenues or fees that are charged for the use of the facilities. Those issuers are:

Ohio Turnpike and Infrastructure Commission

Ohio Housing Finance Agency

Ohio Water Development Authority

Petroleum Underground Storage Tank Release Compensation Board


Conduit bonds are also issued by certain state agencies to finance industrial or commercial projects, air and water pollution control and solid waste disposal facilities, and private higher education institutions. Debt service on those conduit obligations is payable solely from the benefited business or other non-public entity. State issuers of conduit bonds include:

Development Services Agency (Ohio Enterprise Bond Fund)

Higher Educational Facility Commission

Ohio Water Development Authority

Ohio Air Quality Development Authority

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