Number
070213
Version
ORIGINAL
Reference
Sponsor
THE CHAIR
Title
Resolution relating to expenditure of funds to be reimbursed by greater than anticipated revenue.
Analysis
This resolution provides additional appropriation for the payment of principal and interest on general obligation debt paid during 2006.
Body
Whereas, The City of Milwaukee expenditures for principal and interest expenditures exceeded the budget due to various new and refunding debt issues paid during 2006; and
Whereas, The Comptroller has certified greater than anticipated revenue in the amount of $816,238.53 from interest on investments revenue, pursuant to s. 304-91; and
Pursuant to s. 304-91, I hereby certify that the money required for this is anticipated to be realized on or before 12/31/06 and to be expended only for the purpose in this resolution.
__________________________________________ __________________
Comptroller Date
; now, therefore, be it
Resolved, That $816,238.53 is appropriated to the Debt Service Fund, Bonded Debt (principal and interest) account 0210-2110-006610-0001-R999-2006; and, be it
Further Resolved, That the Comptroller is authorized to expend these funds for the payment of principal on the debt; and be it
Further Resolved, That the Comptroller is authorized and directed to establish the necessary accounts and accounting procedures to carry out the intent of this resolution.
Requestor
CITY COMPTROLLER
Drafter
CITY COMPTROLLER
WMM:BL:
05-01-07