Explanation
BACKGROUND: In March, 2006 the City of Columbus and Franklin County entered in to an agreement to jointly create a finance port authority focused on serving the economic needs of the City and Franklin County. This agreement called for the City to provide administrative costs to the finance port authority in years 2006 through 2010. The City desires to continue their support of the finance port authority by providing administrative costs of $150,000 for 2011.
This legislation authorizes the Director of Development to enter into an agreement with the Columbus-Franklin County Finance Authority for administrative costs associated with carrying out activities, projects and programs of the authority. This legislation also authorizes the expenditure of funds for the above purpose.
Emergency action is requested to continue the administration of the above activity without interruption.
FISCAL IMPACT: $150,000 is allocated from the 2011 General Fund budget for support of the Columbus-Franklin County Finance Authority.
Title
To authorize the Director of the Department of Development to enter into a contract with the Columbus-Franklin County Finance Authority to provide continued support of activities, projects and programs; to authorize the expenditure of $150,000 from the General Fund; and to declare an emergency. ($150,000.00)
Body
WHEREAS, in March, 2006 the City of Columbus and Franklin County entered in to an agreement to jointly create a finance port authority focused on serving the economic needs of the City and Franklin County; and
WHEREAS, this agreement called for the City to provide administrative costs to the finance port authority in years 2006 through 2010; and
WHEREAS, the City desires to continue their support of the finance port authority by providing administrative costs of $150,000 for 2011, and
WHEREAS, funds have been allocated from the 2011 General Fund budget to support the port authority; and
WHEREAS, emergency action is necessary to allow the Columbus-Franklin County Finance Authority to carry out activities, projects and programs uninterrupted; and
WHEREAS, an emergency exists in the usual daily operation of the Department of Development in that it is immediately necessary to continue the administration of said activity without interruption, all for the immediate preservation of the public health, peace, property, safety and welfare; NOW, THEREFORE,
BE IT ORDAINED BY THE COUNCIL OF THE CITY OF COLUMBUS:
Section 1. That the Director of the Department of Development is hereby authorized and directed to enter into a contract with the Columbus-Franklin County Finance Authority to provide continued support of activities, projects and programs.
Section 2. That the expenditure of $150,000 or so much thereof as may be necessary, be and is hereby authorized to be expended from the Development Department, Division 44-01, General Fund, Fund 010, Object Level One 03, Object Level Three 3336, OCA 440307.
Section 3. That for the reasons stated in the preamble hereto, which is hereby made a part hereof, this ordinance is hereby declared to be an emergency measure and shall take effect and be in force from and after its passage and approval by the Mayor or ten days after passage if the Mayor neither approves nor vetoes the same.