Investor Presentaiton
Ohio Water
Development
Authority
OVERVIEW OF THE AUTHORITY
Enforcement Process for Revenue Collection
•
•
OWDA staff has focused on
loan tracking and collections for
all its programs
Loan payment dates are
generally five months prior to
Authority debt service payment
dates to further strengthen
bondholder security
• The Authority has covenants to its bondholders that require it to take all
necessary actions to collect all loan payments due to the Authority,
including:
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Sending invoices 15 days prior to due date
•
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Making demand for payment within 20 days after any default
Giving notice that if the default is not remedied within 2 months the
Authority will file suit to collect the moneys due
· Filing suit within 3 months of the default date
OWDA uses a comprehensive computerized loan tracking system
⚫OWDA has a strong, 45-year record of enforcing its rights to loan payments
Only 8 instances of loan payment defaults, and OWDA has fulfilled its
Trust Agreement covenants to file suit to collect in each case
- Courts have affirmed OWDA's right to enforce borrowers' loan payment
obligations
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