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 2011. The City desires to continue their support of the finance port authority by providing administrative costs of $150,000.00 for 2012.
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.
FISCAL IMPACT: $150,000 in the 2012 General Fund budget has been allocated for support of the Columbus-Franklin County Port Authority.
Title
To authorize the Director of the Department of Development to enter into a contract with the Columbus-Franklin County Finance Authority for administrative costs associated with carrying out activities, projects and programs of the authority; to authorize the expenditure of $150,000.00 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 into 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 2011; and
WHEREAS, the City desires to continue their support of the finance port authority by providing administrative costs of $150,000 for 2012, and
WHEREAS, funds have been allocated from the 2012 General Fund budget to support the port authority; and...
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