About

Learn about Ohio Lease-Appropriation Bond Programs, including Recent Transactions.

Number of State Agencies Supported
21
Bond Ratings
Aa2/AA/AA
Bonds Outstanding as of 10/01/2019
$1,980,480,000

About Ohio Lease-Appropriation Bond Programs

The Treasurer's Office issues special obligations to fund capital facilities for branches and agencies of State government, parks and recreation facilities, cultural and sports facilities and facilities for the treatment of mental health, drug addiction and developmental disabilities. Debt service on the special obligation debt is subject to biennial appropriations for “lease-rentals” by the Ohio General Assembly in the State’s operating budgets. Neither the full faith and credit nor the taxing powers of the State are pledged to the payment of principal or interest on those special obligations.

The Ohio Lease-Appropriation Program provides financing for the following programs:


Administrative Building Fund Program

These bonds provide financing for capital facilities to house branches and agencies of state government, including state office buildings.  The bonds were previously issued by the Ohio Building Authority under Chapter 152 of the Ohio Revised Code. Issuing authority transferred from the Ohio Building Authority to the Treasurer's Office in January 2012. 

Authority
Ohio Constitution, Article VIII, Section 2i

Ohio Revised Code, Chapter 154

Link to Department of Administrative Services
http://das.ohio.gov/


Parks and Recreation Improvement Fund Program

These bonds are issued to pay costs of capital facilities for state parks and recreation. Issuing authority transferred from Ohio Public Facilities Commission to the Treasurer's Office in September 2000.

Authority
Ohio Constitution, Article VIII, Section 2i

Ohio Revised Code, Chapter 154

Link to Department of Natural Resources
http://ohiodnr.com/


Cultural and Sports Facilities Building Fund Program

These bonds are issued to provide funds for the planning, construction, renovation and expansion projects at Ohio’s theaters, museums, historical sites and publicly owned professional sport venues.

Authority
Ohio Constitution, Article VIII, Section 2i

Ohio Revised Code, Chapter 154

Link to Facilities Construction Commission
http://ofcc.ohio.gov/


Mental Health Facilities Improvement Fund Program

These bonds are issued to pay costs of capital facilities for mental health, drug additction and developmental disability purposes.  Issuing authority transferred from Ohio Public Facilities Commission to the Treasurer's Office in September 2000.

Authority
Ohio Constitution, Article VIII, Section 2i

Ohio Revised Code, Chapter 154

Link to the Ohio Department of Mental Health
http://mha.ohio.gov/

Link to the Department of Developmental Disabilities
http://dodd.ohio.gov/Pages/default.aspx


Adult Correctional Building Fund Program

These bonds are issued to pay for the costs of building and maintaining the capital facilities for adult correctional facilities.  The bonds were previously issued by the Ohio Building Authority under Chapter 152 of the Ohio Revised Code. Issuing authority transferred from the Ohio Building Authority to the Treasurer's Office in January 2012. 

Authority
Ohio Constitution, Article VIII, Section 2I

Ohio Revised Code, Chapter 154

Link to Ohio Department of Rehabilitation and Correction
http://www.drc.ohio.gov/


Juvenile Correctional Building Fund Program

These bonds are issued to pay for the costs of maintaining and building juvenile correctional facilities.  The bonds were previously issued by the Ohio Building Authority under Chapter 152 of the Ohio Revised Code. Issuing authority transferred from the Ohio Building Authority to the Treasurer's Office in January 2012. 

Authority
Ohio Constitution, Article VIII, Section 2I

Ohio Revised Code, Chapter 154

Link to Department of Youth Services
http://www.dys.ohio.gov/dnn/


Highway Safety Building Fund Program

These bonds are issued to finance the facility and building costs of highway safety facilities.  The bonds were previously issued by the Ohio Building Authority under Chapter 152 of the Ohio Revised Code. Issuing authority transferred from the Ohio Building Authority to the Treasurer's Office in January 2012. 

Authority
Ohio Constitution, Article VIII, Section 2I

Ohio Revised Code, Chapter 154

Link to Ohio Department of Public Safety
http://ohiohighwaysafetyoffice.ohio.gov/


Transportation Building Fund Program

These bonds are issued to finance capital facilities for use by the Ohio Department of Transportation.  

Authority
Ohio Constitution, Article VIII, Section 2i

Ohio Revised Code, Chapter 154

Link to Department of Transportation
http://www.dot.state.oh.us 

Recent Transactions

Cultural Facilities Series 2019A

In May 2019, the Treasurer's Office issued $35 million in bonds on behalf of the Ohio Facilities Construction Commission. These bonds fund the planning, construction, renovation, and expansion projects involving Ohio’s theaters, museums, arts education facilities, historical sites, and publicly owned professional sports venues. Such projects supported by the 2019 issuance include the Bradford Rail Museum tower exhibits, the Center for Holocaust and Humanity Education expansion, the Cincinnati Contemporary Arts Center Learning Center renovation, the Dayton Art Institute preservation, and the Valentine Theatre acoustical enhancement.

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Administrative Building Series 2018A and 2018B

In November 2018, the Treasurer’s Office issued $70 million in bonds on behalf of the Department of Administrative Services. These bonds funded various capital projects that house branches and agencies of state government. The projects include modernization of the façade of the James A. Rhodes State Office Tower, improvements at the State of Ohio Computer Center, and improvements at facilities operated by the Ohio Attorney General, the Department of Agriculture, the Department of Commerce, the Department of Natural Resources, the Judiciary/Supreme Court, the Ohio School for the Blind, the Ohio School for the Deaf, and the Capitol Square Review and Advisory Board.

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Juvenile Correctional Series 2018A

In April 2018, the Treasurer’s Office issued $35 million in bonds on behalf of the Department of Youth Services (DYS). These bonds funded various capital projects that address security challenges and make improvements to facilities at the end of useful life. The projects include new housing units at juvenile correctional facilities at Circleville and Cuyahoga Hills; capital improvements at the community correctional facilities and county detention centers.

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Parks & Recreation Series 2018A

In November 2018, the Treasurer’s Office issued $100 million in bonds on behalf of the Department of Natural Resources. These bonds fund various capital improvements at state parks and local parks across the state. Improvements are planned at state park dams, campgrounds, lodges and cabins. Two of the major projects include improvements at Portage Lakes State Park North Reservoir dam and the rebuilding of the Hocking Hills State Park Lodge.

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View Recent Transactions