Ohio Code 703.35 – Pending village dissolution
Current as of: 2024 | Check for updates
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During the period when a dissolution is in question, both of the following apply:
Terms Used In Ohio Code 703.35
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
(A) The legislative authority of the village shall not create any new debts, obligations, or liabilities except to the extent the debt, obligation, or liability is necessary in connection with the continued provision of the village’s utilities consistent with prudent utility practice.
(B) The legislative authority of the village shall select an official or employee of the village who is knowledgeable on village matters to serve as a representative during a dissolution, should one occur, as specified under section 703.361 of the Revised Code.
Last updated February 12, 2024 at 5:32 PM