Explanation
Under the terms of the Airport Operation and Use Agreement, which created the Columbus Municipal Airport Authority ("Port Authority"), once the Port Authority repaid, in full, the City debt issued for the airports, the City of Columbus ("City") was contractually obligated to convey to the Port Authority all airport property. In December 2007, the Port authority made their final debt payment to the City; therefore, per the Airport Operation and Use Agreement the City is obligated to complete various land transfers. In December 2007, the City conveyed most of the City owned land to the Port Authority; however, at that time legal descriptions for some of the city streets which had been previously closed and used as airport property were not available, consequently it was agreed to convey these at such time as descriptions became available.
The following legislation authorizes the Director of the Public Service Department to execute those documents needed to transfer a portion of Seventeenth Avenue to the Port Authority.
Title
To authorize the Director of the Public Service Department to execute those documents required to transfer a portion of Seventeenth Avenue east of Stelzer Road to the Columbus Regional Airport Authority.
Body
WHEREAS, under the terms of the Airport Operation and Use Agreement, which created the Columbus Municipal Airport Authority ("Port Authority"), once the Port Authority repaid, in full, the City debt issued for the airports, the City of Columbus ("City") was contractually obligated to convey to the Port Authority all airport property; and
WHEREAS, the Port Authority made their final debt payment to the City in December 2007; and
WHEREAS, concurrent with the Port Authority's repayment of their debt, per the obligations contained in the Airport Operation and Use Agreement, the City conveyed most of the City owned lands to them; and
WHEREAS, at the time of transfer, descriptions for some of the City ...
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