MANSFIELD — The Richland County Port Authority board meets Wednesday at 9 a.m. at the Richland Area Chamber & Economic Development Offices, 55 N. Mulberry St.
According to an email on Monday, the meeting is to consider resolutions:
— awarding public funds to public depositories.
— amend port authority rules and regulations.
— approving a port authority fee policy.
— and to “consider any other business as may properly come before the board.”
This meeting is open to the public.
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.
