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Council committee requests ordinance to open bids for leasing city oil and gas mineral rights
Summary
The Finance Committee "sun shined" an ordinance to lease the City's oil and gas mineral rights and solicit bids under R.C. 721.03; the item will return for formal consideration as an ordinance and possible emergency declaration.
Finance Committee member Mr. McManamon announced the committee’s intent to introduce an ordinance authorizing leasing the City of Steubenville’s oil and gas mineral rights and putting the lease out to bid under Ohio law. "Mr. McManamon sun shined an ordinance authorizing the leasing of the oil and gas mineral rights owned by the City of Steubenville and letting the same out to bid pursuant to R.C. 721.03 and declaring an emergency," he stated during committee reports.
The motion was seconded by Mr. Hernon. Council did not vote on the substantive lease terms at this meeting; the announcement signals the item will be formally introduced at a future meeting for committee consideration and potential emergency passage. No dollar amounts, lessee terms or timetable were provided during the discussion.
Next steps: Staff will prepare ordinance language and bid documents for council review and a future vote.
