Ohio Code 3334.06 – Plan for sale of bonds – approval of sale – cooperation with issuing authorities
(A) The Ohio tuition trust authority shall, after consultation with the issuer, develop a plan for the sale of college savings bonds. The plan shall include:
Terms Used In Ohio Code 3334.06
- Bond: includes an undertaking. See Ohio Code 1.02
- College savings bond issue: means any issue of bonds of which any part has been designated as college savings bonds. See Ohio Code 3334.01
- College savings bonds: means revenue and other obligations issued on behalf of the state or any agency or issuing authority thereof as a zero-coupon or capital appreciation bond, and designated as college savings bonds as provided in this chapter. See Ohio Code 3334.01
- Issuer: means the issuing authority or, if so designated under division (B) of section 3334. See Ohio Code 3334.01
- state: means the state of Ohio. See Ohio Code 1.59
- Tuition: means the charges imposed to attend an institution of higher education as an undergraduate, graduate, or professional student and all fees required as a condition of enrollment, as determined by the Ohio tuition trust authority. See Ohio Code 3334.01
(1) An advertising program to inform the public about the availability of college savings bonds;
(2) The estimated cost of financing and administering the plan;
(3) A description of the ongoing administrative authority and responsibility for the plan.
(B) The authority shall approve the sale of a college savings bond issue under division (A) of section 3334.04 of the Revised Code only after it has determined that the issuance would comply with section 3334.04 of the Revised Code.
(C) The authority shall cooperate with all state issuing authorities in identifying potential bond issues which may be appropriate for designation as college savings bonds and shall encourage those issuing authorities to participate in the Ohio college savings program.