Explanation
Background:
Ordinance 0540-2006 authorized the execution of a port authority agreement between the City and Franklin County to create a new port authority focused on serving the economic development needs of the City and Franklin County and provided City Council's advice and consent to the Mayor's appointments to the port authority's board of directors as provided in the agreement.
This legislation appropriates funding for the support of the port authority in the amount of $200,000 under the terms of the proposed port authority agreement. The port authority agreement also requires Franklin County to match City payments. The agreement also provides that the City will, subject to future appropriations, provide up to $200,000 of funding in years 2007 through 2010 to the port authority
Fiscal Impact:
Funding for the support of the port authority will be distributed equally between the Jobs Growth Initiative Fund and the General Fund. The port authority agreement requires Franklin County to match City payments. The agreement also provides that the City will, subject to future appropriations, provide up to $200,000 of funding in years 2007 through 2010 to the port authority.
Title
To appropriate and authorize the expenditure of $100,000 in the Jobs Growth Initiative Fund, to authorize the transfer and expenditure of $100,000 within the General Fund to support the new port authority; and to declare an emergency. ($200,000)
Body
WHEREAS, Ordinance 0540-2006 authorized the execution of a port authority agreement between the City and Franklin County to create a new port authority focused on serving the economic development needs of the City and Franklin County; and
WHEREAS, the proposed Port Authority Agreement requires the City and the County to each provide funding to the proposed Port Authority in the amount of $200,000; and
WHEREAS, funds are available in the Jobs Growth Initiative Fund and the General Fund to support the new port authority; and
WHEREAS, an emergency exists in the usual daily operation of the Department of Development in that it is immediately necessary to appropriate funds, transfer funds and authorize the expenditure of funds for a Port Authority Agreement without delay so that actions necessary to establish the proposed Port Authority can begin at the earliest date possible, thereby preserving 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 City Auditor be and is hereby authorized and directed to appropriate $100,000 in the Jobs Growth Fund, Fund 015 to the Department of Development, Division of Economic Development, Division No. 44-02, Object Level One 03, OL3 3337, OCA Code 440215.
Section 2. That the City Auditor be and is hereby authorized to transfer $100,000 within the General Fund, Fund 010, Department of Development, Division of Economic Development, Division No. 4402 OCA Code 440314, from Object Level One 05, Object Level Three 5513 to Object Level One 03, Object Level Three 3337.
Section 3. That the expenditure of $200,000, or so much thereof as may be needed, is hereby authorized to be expended from the following funds to make the payment required pursuant to the Port Authority Agreement:
Jobs Growth Fund, Fund 015, Division No. 44-02, Object Level One 03, OL3 3337, OCA Code 440215 in the amount of $100,000;
General Fund, Fund 010, Division 44-02, Object Level One 03, OL3 3337, OCA Code 440314 in the amount of $100,000.
Section 4. 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 passage and approval by the Mayor, or ten days after passage if the Mayor neither approves nor vetoes the same.