OBM's Debt Management Function
Section 126.11 of the Ohio Revised Code sets forth OBM's role and responsibilities with respect to managing existing State debt and proposed issuances of new State debt. For proposed sales of new State debt, OBM must review and approve each sale including the amount, security, source of payment, structure and maturity schedule. OBM is also charged with reviewing and commenting on the resolution or order authorizing the sale and the preliminary and final official statements. Following each sale, issuers are to provide OBM with a final transcript of documents relating to the sale including the final debt service schedules, prices and yields, tax compliance certificate and identification of the original purchasers of the obligations.
OBM is also charged with developing and distributing a coordinated bond sale schedule for certain State bond issuing authorities. The coordinated bond sale calendar is published monthly and includes projected sales over the next six months for the following issuers: i) Ohio Public Facilities Commission; ii) Treasurer of State; iii) Ohio Building Authority; iv) Ohio Housing Finance Agency; v) Ohio Water Development Authority; vi) Ohio Turnpike Authority, and vii) Petroleum Underground Storage Tanks Release Compensation Board.
OBM also serves as the provider of official disclosure information relating to state debt, state budgeting and finances, certain economic and demographic information, and other information required under federal continuing disclosure regulations. This is accomplished through submission of an annual information report (including accompanying annual financial reports) and the submission of timely reports of the occurrence of any specified material events. Copies of the State's annual disclosures and material event notices are available through any of the Nationally Recognized Municipal Securities Information Repositories (NRMSIRs) or the State Information Depository (SID). A listing of NRMSIRs is available on the Securities and Exchange Commission website.
With respect to the State's biennial operating budget, OBM establishes and monitors debt service appropriation line items within various agency budgets to ensure that all necessary debt service payment authorizations and associated administrative expenses are included in each budget bill. OBM also models and projects the affordable size of future capital bills within the constraint of the Constitutional 5% limitation on debt service and reviews and approves each requested release of funds from State capital appropriations.
Terms of Use and Disclaimers
Please read carefully before using this area of this website. Use of this area of site constitutes acknowledgment and acceptance of the following terms and conditions:
Information in this Debt Management area of the OBM website is not an offer to sell securities or the solicitation of an offer to buy securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.
You are entering web pages that contain information relating to debt management and bonds or other obligations of the State of Ohio. The purpose of this section is to provide general information about the State of Ohio and its debt management and borrowing programs. The information is provided for quick reference only and is not a summary or a compilation of information for any particular bond issue. It does not purport to include every item which may be of interest, nor does it purport to present full and fair disclosure within the meaning of applicable securities law with respect to any of the matters or programs addressed. Investment decisions should be made only after full review of the official statement and other relevant matters in connection with a particular bond issue.
The Ohio Office of Budget and Management (OBM) maintains the following web pages, and OBM has not undertaken nor has any obligation to update any information included on these pages. The documents available on these pages set forth information as of their respective dates and the posting of these documents or other information on these web pages does not imply that there has been no change in the affairs of the State of Ohio since the date of posting that information. Any addresses of or links to other websites which may be contained herein are given solely for the convenience of the user only. OBM has not participated in the preparation, compilation or selection of information on any other website, and assumes no responsibility or liability for the contents thereof.
