Ohio Code 5120.47 – Leasing capital facilities
The department of rehabilitation and correction shall lease capital facilities constructed, reconstructed, or otherwise improved, which facilities are financed by the treasurer of state pursuant to Chapter 154. of the Revised Code, for the use of the department, and may enter into any other agreements with the Ohio public facilities commission, the department of administrative services, or any other authorized state agency ancillary to the construction, reconstruction, improvement, financing, leasing, or operation of such capital facilities, including, but not limited to, any agreements required by the applicable bond proceedings authorized by Chapter 154. of the Revised Code. Such agreements shall not be subject to section 5120.24 of the Revised Code. Any lease of capital facilities authorized by this section shall be governed by Chapter 154. of the Revised Code.
Terms Used In Ohio Code 5120.47
- Bond: includes an undertaking. See Ohio Code 1.02
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- state: means the state of Ohio. See Ohio Code 1.59