Explanation
Background: The City of Columbus is contemplating entering into mineral leases with outside companies for the use of city-owned property for mining purposes. This ordinance establishes a special revenue fund titled the "Mined Assets Fund" to allow the Real Estate Management Office to deposit any revenue collected from a non-City entity for activities related to feasibility determination, exploration, lease, or license of any city property for mining purposes. The ordinance further establishes that the purpose of any monies collected is for payment of costs of acquisition, maintenance, operation, or construction of city-owned property or activities required for the establishment of mineral lease or license agreements.
Fiscal Impact: Annual income associated with this project can not be fully determined at this time. Monies to be appropriated by this ordinance are to come from anticipated income and will be used for payment of activities required for the establishment of lease or license agreements for use of city property for mining purposes.
Emergency action is requested so that all payments may be deposited into the special revenue fund as soon as they are received.
Title
To authorize the City Auditor to establish a special revenue fund, titled the "Mined Assets Fund," for the deposit of payments from non-city tenants related to feasibility determination, exploration, lease, or license of any city property for mining purposes; to appropriate $20,000.00 within the Mined Assets Fund; and to declare an emergency. ($20,000.00)
Body
WHEREAS, the City of Columbus is contemplating the use of city-owned property for mining purposes and wishes to collect revenue from activities related to feasibility determination, exploration, lease, or license of any city property for mining purposes; and
WHEREAS, it is necessary to create a special revenue fund titled the "Mined Assets Fund," in order to deposit revenue from non-City entities for feasibility determination, exploration, lease, or license of any city property for mining purposes; and
WHEREAS, it is necessary to appropriate $20,000 or as much thereof as necessary, for payment of activities required for the establishment of lease or license agreements for use of city property for mining purposes; and
WHEREAS, an emergency exists in the usual daily operation of the City of Columbus, in that it is immediately necessary to establish the "Mined Assets Fund" so that payments associated with feasibility determination and exploration of city-owned property for mining purposes can be deposited as soon as they are received for the immediate preservation of the public health, peace, property, safety and welfare, now, therefore:
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF COLUMBUS:
SECTION 1. That the City Auditor is hereby authorized and directed to establish a special revenue fund titled the "Mined Assets Fund", Fund No. XXX, which is authorized to accept funds from non-City entities for activities related to feasibility determination, exploration, lease, or license of any city property for mining purposes.
SECTION 2. Monies accounted for in Mined Assets Fund No. XXXX shall be used for the acquisition, maintenance, operation, or construction of city-owned property or for activities required for establishment of lease or license agreements for use of city property for mining purposes.
SECTION 3. That from the unappropriated monies in the Mined Assets Fund (Fund XXX), and from the monies estimated to come into said fund from any and all sources unappropriated for any other purpose during the fiscal year ending December 31, 2009, the sum of $20,000 be and hereby is appropriated to the Real Estate Management Office, Dept/Div: 45-51, Object Level One Code xxx, Object Level Three Code xxxx, OCA Code xxxxxx. The funds appropriated are not to exceed the available cash in the Mined Assets Fund.
SECTION 4. That the monies appropriated in the foregoing Section 3 shall be paid upon the order of the Director of Finance and Management, and that no order shall be drawn or money paid except by voucher, the form of which shall be approved by the City Auditor.
SECTION 5. The City Auditor is hereby directed and authorized to deposit all revenues received from any non-City entity for activities associated with feasibility determination, exploration, lease, or license of any city-owned property for mining purposes into the Mined Assets Fund.
SECTION 6. That for the reasons stated in the preamble hereto, which is hereby made a part hereof, this ordinance is hereby declared an emergency measure and shall take effect and be in force from and after its adoption and approval by the Mayor, or ten days after adoption if the Mayor neither approves nor vetoes the same.