Number
081199
Version
SUBSTITUTE 1
Reference
071452
Sponsor
THE CHAIR
Title
Substitute resolution rescinding reserved commitments from the 2008 Common Council Contingent Fund.
Analysis
Resolution rescinding a previous appropriation of $460,000 from the Common Council Contingent Fund to the Remission of Taxes Special Purpose Account.
Body
Whereas, To facilitate closing of Year 2008 financial books, rescinding commitments from 2008 Common Contingent Fund are necessary; and
Whereas, An amount of $460,000 was appropriated from the Common Council Contingent Fund in Common Council File 071452 to the Remission of Taxes Special Purpose Account and directed payment of a civil judgment in favor of U.S. Bank against the City of Milwaukee; and
Whereas, Payment for this particular judgment will now be addressed through a greater than anticipated revenue resolution to be heard by the Common Council; now, therefore, be it
Resolved, By the Common Council of the City of Milwaukee, that the appropriation of $460,000 from the Common Council Contingent Fund (#0001-9990-C001-006300) (2008) from Common Council file 071452 be rescinded.
Requestor
Budget and Management Division
Drafter
Budget and Management Division
Ref: DY/DS; 08021
December 12, 2008
I:\FINANCE\Resolutions\081199 - CCCF - Rescind Remission of Taxes.rtf