NUMB:
980213
VERS:
ORIGINAL
REF:
XXBY:
THE CHAIR
TITL:
Resolution relating to claims against the Mitchell Center Development Corporation. (Comptroller's Office)
ANLS:
- Analysis -
This resolution authorizes the cancellation of the balance of the City of Milwaukee's claim against the Mitchell Center Development Corporation of $310,187.96.
BODY:
Whereas, The City of Milwaukee entered into an agreement with the Mitchell Center Development Corporation on January 7, 1975 to finance the improvement of public streets for the Mitchell Street project in the amount of $1.2 million of which $600,000.00 plus interest of $94,750.00 was billed to Mitchell Center Development Corporation; and
Whereas, The Comptroller's Office of the City of Milwaukee has outstanding the amounts billed to the Mitchell Center Development Corporation on 2-1-79 and 12-7-81, of $96,787.96 and $213,400.00 respectively; and
Whereas, Due to the ages of the outstanding invoices, the amount of $310,187.96 has been fully reserved in the estimated uncollectible Accounts Receivable account and is unlikely to be paid now or in the future. As a result, there is no fiscal impact; now, therefore, be it
Resolved, By the Common Council of the City of Milwaukee that the following claims are canceled:
Dept. Invoice Amount Defendant
Comptroller 6203 $ 96,787.96 Mitchell Center
Comptroller 9123 213,400.00 Mitchell Center
ZDPT:
DFTR:
Office of the Comptroller
CAC
5/26/98