Explanation
Background: The City is proposing to jointly create with Franklin County a new port authority focused on serving the economic development needs of the City and Franklin County. Formation of this port authority will require the execution of an agreement between the City and Franklin County to provide for the jurisdiction, governance, powers and funding of the port authority. This ordinance approves the form of this agreement and authorizes the Mayor to execute this agreement and provides City Council's advice and consent to the Mayor's appointments to the port authority's board of directors as provided in this agreement.
Fiscal Impact: No funding is required for this legislation. Companion legislation will be submitted to appropriate 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 port authority 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 approve and authorize the Mayor to execute a Port Authority Agreement between the City and Franklin County in order to create a new port authority serving the economic development needs of the City and Franklin County; to authorize appointments to the new port authority's board of directors; and to declare an emergency.
Body
WHEREAS, Ohio Revised Code Sections 4582.21 through 4582.59 (as amended from time to time, the "Port Act") authorizes a city and a county to act jointly to create a port authority which shall have territorial limits co-terminus with the limits of the city and the county creating the port authority; and
WHEREAS, the City and Franklin County, Ohio (the "County") have determined that it is desirable and necessary that a port authority (the "Port Authority") be created pursuant to the pro...
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