3335.45 Ohio state university highway and transportation research fund. - Ohio Statutes

3335.45 Ohio state university highway and transportation research fund.

The Ohio state university highway and transportation research fund is hereby created in the state treasury. Not later than the thirty-first day of July each year, the Ohio state university shall certify to the director of budget and management, and pay to the treasurer of state for deposit in the fund, the income distributions derived from the six million dollars of transportation research center proceeds that were paid to the endowment portfolio pursuant to section 12 of Am. Sub. S.B. 321 of the 117th general assembly. The fund shall be used for the support and encouragement of research by the Ohio state university in automotive, vehicular, and related forms of transportation, and for the development of improved highway facilities for vehicular traffic. For the purposes of this section, “income distributions” means that part of the investment earnings which is to be distributed pursuant to the endowment portfolio investment policies of the Ohio state university board of trustees.

Effective Date: 01-21-1988