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JobsOhio swallows liquor business, issues bonds

COLUMBUS, Ohio (AP) — The sale of $1.5 billion in bonds to fund Ohio's private job-creation entity is under way, and the transfer of the state's liquor business to JobsOhio is complete.

JobsOhio bonds, backed by state liquor proceeds, went on sale Tuesday in two separate but related offerings.

An official circular posted on the Municipal Securities Rulemaking Board's website Friday says more than $1.1 billion are taxable revenue bonds while the other $400 million are tax-exempt. Also Friday, the state and JobsOhio completed transfer of the liquor business.

The complicated business transaction proceeded despite an unresolved legal challenge alleging that JobsOhio's structure is unconstitutional. The Ohio Supreme Court is determining their standing to sue.

Gov. John Kasich accused opponents this week of using the suit to hurt Ohio's economy for political gain.

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