Ohio Revised Code

Ohio Rev. Code § 135.09 (2026)

Award of interim deposits

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Effective:

March 5, 1987

Latest Legislation:

House Bill 144 - 116th General Assembly

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Interim deposits may be awarded by the treasurer or governing board as interim moneys become available.

The treasurer or the governing board shall award the interim deposits of public moneys subject to its control to the eligible institution or institutions which offer to pay the highest permissible rate of interest on interim deposits in like time certificates of deposit or savings or deposit accounts.

Whenever, during the period of designation, the treasurer or governing board considers the terms of the applications for interim deposits in force no longer reflect prevailing interest rates in the market, the board, by resolution, may determine this fact and request new bids for interim deposits from eligible institutions. Each application shall be in writing and made prior to the date set by the governing board, specifying the maximum amount of public moneys the applicant desires to receive and have on deposit as interim deposits at any one time during the remaining period of designation and the rate of interest the applicant will pay thereon, subject to the limitations of sections 135.01 to 135.21 of the Revised Code.

Notes of Decisions

Cited in 4 cases, 1966–2012 · leading case: State v. Bilder, 651 N.E.2d 502 (Ohio Ct. App. 9th Dist. 1994).

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State v. Bilder, 651 N.E.2d 502 (Ohio Ct. App. 9th Dist. 1994). · cites it 20× “The trial court did not err by failing to include a definition of it in the instructions provided to the jury.”

State v. Herbert, 358 N.E.2d 1090 (Ohio 1976). · cites it 2× “The award of interim deposits shall be made in accordance with Section 135.09 of the Revised Code and the treasurer or the governing board shall determine the periods for which such interim deposits are to be made and shall award such interim deposits for such periods, provided,…”

Ruble v. Escola, 898 F. Supp. 2d 956 (N.D. Ohio 2012). “1993) (finding that the City Charter of Cleveland and the Cleveland Code § 135.09(a), the applicable Ohio law, revealed that the “Chief of Police is subordinate to the Director of Public Safety[,]” and therefore, “plaintiffs have not shown that the Chief of Police has been…”

In re Dissolution of the Springfield Sav. Soc'y, 231 N.E.2d 314 (Ohio Ct. App. 1966). · cites it 2× “Section 135.09 of the Revised Code provides that the appropriate board shall award the deposit to the financial institution offering to pay the highest rate of interest which can legally be paid.”

Ohio Rev. Code § 135.09(C)(1): 1 case

State v. Bilder, 651 N.E.2d 502 (Ohio Ct. App. 9th Dist. 1994). “The trial court did not err by failing to include a definition of it in the instructions provided to the jury.”

Ohio Rev. Code § 135.09(a): 1 case

Ruble v. Escola, 898 F. Supp. 2d 956 (N.D. Ohio 2012). “1993) (finding that the City Charter of Cleveland and the Cleveland Code § 135.09(a), the applicable Ohio law, revealed that the “Chief of Police is subordinate to the Director of Public Safety[,]” and therefore, “plaintiffs have not shown that the Chief of Police has been…”

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