Council hereby implements its prerogative provided by Ohio R.C. 4582.201 (B) and authorizes the Lorain Port Authority to operate pursuant to Ohio R.C. 4582.21 through 4582.59, subject to the following limitations:
(a) The Lorain Port Authority shall submit for the review of Council the annual budget for the operations and administration of the Lorain Port Authority.
(b) The Lorain Port Authority shall submit for the review of Council the annual budget for the proceeds of all levies and all other sources of revenue, including but not limited to the five-year, one-mill Lorain Port Authority Levy.
(c) The Lorain Port Authority shall continue to submit monthly financial statements, as approved by the Board of Directors, for Council perusal.
(d) The Lorain Port Authority shall submit to Council all proposed annual or contractual expenditures exceeding twenty-five thousand dollars ($25,000). The legislative authority shall review said submittals within two weeks of receipt of same. In the event the legislative authority determines such expenditure or expenditures warrant(s) public debate, then in such event, the matter will be referred to the appropriate committee of Council as expeditiously as possible. The recommendation of said committee, assuming adoption by the legislative authority, shall be submitted to the Lorain Port Authority as a nonbinding recommendation. The Lorain Port Authority is urged to consider the recommendation of the legislative authority; however, as statutorily provided, the final determination with respect to said expenditure or expenditures shall be within the control of the Lorain Port Authority.
(e) Prior to the adoption of, amendment to, or modification of, any development plan, lease of property or Official Plan as defined in Ohio R.C. 4582.32, the Lorain Port Authority shall submit the proposed plan, lease or Official Plan, or amendment or modification thereto, to Council which shall review same within two weeks from receipt. In the event the legislative authority determines said plan, (including the Official Plan) or lease, or amendment or modification thereto, warrants public debate, then in such event, the matter will be referred to the appropriate committee of Council as expeditiously as possible. The recommendation of said committee, assuming adoption by the legislative authority, shall be submitted to the Lorain Port Authority as a nonbinding recommendation. The Lorain Port Authority is urged to consider the recommendation of the legislative authority; however, as statutorily provided, the final determination with respect to said plan, including the Official Plan or lease, or amendment or modification thereto, shall be within the control of the Lorain Port Authority.
(f) The Lorain Port Authority shall secure the approval of the legislative authority by ordinance or resolution prior to the adoption of any rezoning proposals or zoning changes.
(Ord. 62-90. Passed 5-21-90.)