The mayor of Bridgeport, Conn., <

the city that nearly a year ago made history by becoming the largest to file for Bankruptcy Court protection, yesterday announced plans for a bond-issuing port authority.

Mayor Joseph P. Ganim, elected <

last November in part because of his opposition to the city's bankruptcy filing, yesterday said in a statement that "the development of Bridgeport's harbor is the master key to our city's economic recovery."

Mr. Ganim's plan would have to <

be approved by the city's 20-member Common Council, which consists of 18 Democrats and two Republicans. Mr. Ganim is a Democrat.

Last fall Mr. Ganim said "a detailed <

and comprehensive plan of development of Bridgeport's harbor" would be part of his plan to restore the city to fiscal health. "Most cities would kill to have a harbor like we have," he said at the time.

"It's our last, best chip in the field <

of economic development."

In his statement yesterday, the <

mayor said the "creation of the port authority is necessary for the city to develop our deep-water harbor." But he could not be reached for comment on why the bond-issuing functions of the new authority could not be performed by the Connecticut Development Authority.

Not only would the authority <

have the power to issue bonds for economic development, but it would also be able to "assume, through condemnation" certain properties.

The mayor submitted the proposed <

ordinance to the council for a meeting June 1. The measure would be assigned to a committee, studied, and reported on in time for a vote July 6, according to Mr. Ganim's statement. A Bridgeport port authority is allowed under state law, a state economic development official said yesterday.


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