MANSFIELD — The Richland County Port Authority board has announced a meeting for Monday at 9 a.m. at the Richland Area Chamber & Economic Development offices, 55 N. Mulberry St.
In an email sent Friday morning, the port’s attorney, Greg Daniels, said the “purposes of the meeting are to consider for approval a resolution authorizing the issuance of a maximum of $6,000,000 of lease revenue obligations in support of Avita Health System, and to consider any other business as may properly come before the Board of Directors.”
Richland County Port Authority meetings are open to the public.
more coverage of the richland county port authority
What is a port authority?
A port authority is authorized under Ohio law to construct facilities, issue bonds, make loans, and sell or buy real and personal property.
A port can also offer economic development financing products in which other governmental organizations cannot.
— It can acquire, construct, furnish, equip, maintain, repair, sell, exchange, lease to or from, lease with an option to purchase, convey other interests in, or operate real or personal property;
— Issue bonds or notes for the acquisition, construction, furnishing, or equipping of any real or personal property;
— By resolution of its board of directors, it can issue revenue bonds beyond the limit of bonded indebtedness provided by law, for the acquisition, construction, furnishing, or equipping of any real or personal property;
— It can do any of the following, in regard to any interests in any real or personal property, or any combination thereof, including: loan moneys to any person or governmental entity for the acquisition, construction, furnishing, and equipping of the property; acquire, construct, maintain, repair, furnish, and equip the property; sell to, exchange with, lease, convey other interests in, or lease with an option to purchase the same or any lesser interest in the property to the same or any other person or governmental entity; guarantee the obligations of any person or governmental entity.
It can construct, maintain, repair, furnish, equip, sell, exchange, lease, or lease with an option to purchase, any property that it is authorized to acquire. A port authority that is subject to this section also may operate any property in connection with transportation, recreational, governmental operations, or cultural activities.