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 authorizes the expenditure of funds for the support of the Columbus-Franklin County Port Authority in the amount of $150,000 under the terms of the 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 $150,000 of funding annually through 2010 to the port authority.
Emergency action is requested to continue the administration of the above activity.
FISCAL IMPACT:
$150,000 in 2007 General Fund monies has been allocated for support of the Columbus-Franklin County Port Authority.
Title
To authorize the expenditure of $150,000 from the General Fund to support the Columbus-Franklin County Port Authority; and to declare an emergency. ($150,000)
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 Port Authority Agreement requires the City and the County to each provide funding to the Columbus-Franklin County Port Authority in the amount of $150,000; and
WHEREAS, funds are available in 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 authorize the expenditure of funds per the Port Authority Agreement so that support of the Columbus-...
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