Number
141890
Version
ORIGINAL
Reference
Sponsor
THE CHAIR
Title
Resolution to authorize up to $6.5 million dollars of contingent borrowing to fund settlement of the claims raised by the plaintiff, Chaunte Ott, in the lawsuit entitled Chaunte Ott v. City of Milwaukee, et al.
Analysis
The Common Council of the City of Milwaukee adopted File Number 141889 on ______, 2015 authorizing settlement of the claims raised by the plaintiff, Chaunte Ott, in the lawsuit entitled Chaunte Ott v. City of Milwaukee, et al., Case No. 09-C-870 in the United States District Court for the Eastern District of Wisconsin. The City of Milwaukee and Mr. Ott agreed to a $6.5 million dollar settlement amount regarding resolution of his claims. The City will fund the settlement using Contingent Borrowing.
Body
Whereas, Common Council File Number 141889 adopted on _______, 2015, authorized settlement of the claims raised by the plaintiff, Chaunte Ott, in the lawsuit entitled Chaunte Ott v. City of Milwaukee, et al., Case No. 09-C-870; and
Whereas, The agreed $6.5 million dollar settlement amount exceeds the available balance in the Damages and Claims Fund Special Purpose Account (001-1490-S118-006300); and
Whereas, The 2015 Budget of the City of Milwaukee authorized $200,000,000 of Contingent Borrowing for purposes not contemplated at the time the budget was adopted; and
Whereas, Resolution File Number 141362 authorized the issuance of general obligation promissory notes for various public purposes, including Contingent Borrowing as may be authorized from time to time; and
Whereas, The City desires to use $6.5 million dollars of Contingent Borrowing to fund settlement of the above-noted claims raised by Chaunte Ott; now therefore, be it
Resolved, By the Common Council of the City of Milwaukee, that up to $6,500,000.00 of Contingent Borrowing for Damages and Claims is authorized to be issued and the proceeds used to fund settlement of the claims raised by the plaintiff, Chaunte Ott, in the lawsuit; and, be it
Further Resolved, That the debt may be issued as Notes pursuant to Resolution Number 141362 (including commercial paper notes), and that such debt shall be a purpose of Contingent Borrowing - Unallocated in Exhibit A of the resolution, including refunding of commercial paper if the debt is temporarily issued as commercial paper; and, be it
Further Resolved, That the proper City officers are authorized to make necessary transfers to the appropriate accounts or fund to dispense the settlement amount.
Requestor
Budget and Management Division
Drafter
MRH:mrh
March 31, 2015
1032-2009-2803:213879