NUMB:
VERS:
ORIGINAL
REF:
XXBY:
THE CHAIR
TITL:
Resolution appropriating an amount not to exceed $10,100,000 from the Borrowed Money Fund for the purpose of paying the judgments in Circuit Court Case No. 95-CV-011251 (the "Merger Case") and Circuit Court Case No. 97-CV-000685 (the "Performance Fee Case"), and authorizing the appropriate city officials to satisfy the judgment.
ANLS:
This resolution appropriates an amount not to exceed $10,100,000 from the Borrowed Money Fund for the purpose of paying uncontested amounts under the judgments in Circuit Court Case No. 95-CV-011251 (the "Merger Case") and Circuit Court Case No. 97-CV-000685 (the "Performance Fee Case").
BODY:
Whereas, The City is paying uncontested amounts under the judgments in these two outstanding pension cases in an amount not to exceed $10,100,000; and
Whereas, The City Attorney recommends and the Common Council of the City of Milwaukee deems it expeditious and just to pay these uncontested amounts; now, therefore, be it
Resolved, By the Common Council of the City of Milwaukee that a sum not to exceed $10,100,000 be and hereby is appropriated from the Borrowed Money Fund to the Damages and Claims Fund Special Purpose Account No. 0001-1490-0001-S118-006300 for the purpose of paying outstanding contributions; and, be it
Further Resolved, That no additional authority is needed for the City Attorney to authorize payment from the Damages and Claims Fund Special Purpose Account for this purpose; and, be it
Further Resolved, That the proper city officers be and hereby are authorized to issue checks in a total amount not to exceed $10,100,000 at the direction of the City Attorney and that said payment to be made upon delivery of an executed release and partial satisfaction of judgment meeting with the approval of the City Attorney.
ZDPT:
City Comptroller
DFTR:
City Comptroller/City Attorney
#24527 TEH:kef 9/15/99