Galion Port Authority
The Galion Port Authority was created by City Council on May 28, 2019, through Ordinance 2019-30. 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 governmental organizations cannot.
Any municipal corporation, township, county, or any combination of a municipal corporation, municipal corporations, township, townships, county, or counties, none of which was included in a port authority in existence on December 16, 1964, may create a port authority. A municipal corporation shall act by ordinance, a township shall act by resolution of the township trustees, and a county shall act by resolution of the county commissioners, in authorizing the creation of a port authority.
O.R.C. 4582.06 (in part)
(1) 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;
(2) Straighten, deepen, and improve any canal, channel, river, stream, or other water course or way that may be necessary or proper in the development of the facilities of the port authority;
(3) Issue bonds or notes for the acquisition, construction, furnishing, or equipping of any real or personal property;
(4) By resolution of its board of directors, 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;
(5) 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.
(6) 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.
For more information, visit www.galionport.org.