City of Milwaukee - File #: 071452

• File #: 071452
• Version: 0
• Type: Resolution
• Status: Passed
• File created: 2/26/2008
• In control: FINANCE & PERSONNEL COMMITTEE
• Final action: 3/18/2008
• Title: Resolution authorizing an appropriation of $460,000 from the Common Council Contingent Fund to the Remission of Taxes Special Purpose Account and directing payment of a civil judgment in favor of U.S. Bank against the City in the amount of $440,430.03, plus simple interest at 0.8% from January 1-31, 2008, and simple interest at 1.0% thereafter until date of payment.
• Sponsors: THE CHAIR
• Indexes: CONTINGENT FUND, LITIGATION, SUITS PAYMENT, SUITS SETTLEMENT, TAX CANCELLATIONS

Date	Ver.	Action By	Action	Result	Tally
3/27/2008	0	MAYOR	SIGNED
3/18/2008	0	COMMON COUNCIL	ADOPTED	Pass	14:0
3/12/2008	0	FINANCE & PERSONNEL COMMITTEE	RECOMMENDED FOR ADOPTION; Minutes note: Appearance by Ms. Mary Reavey, City Assessor	Pass	3:0
3/10/2008	0	JUDICIARY & LEGISLATION COMMITTEE	AMENDED; Minutes note: Amended at the table to add the year at the request of the Comptroller's Office.	Pass	4:0
3/10/2008	0	JUDICIARY & LEGISLATION COMMITTEE	RECOMMENDED FOR ADOPTION AND ASSIGNED	Pass	4:0
3/3/2008	0	FINANCE & PERSONNEL COMMITTEE	HEARING NOTICES SENT
2/29/2008	0	JUDICIARY & LEGISLATION COMMITTEE	HEARING NOTICES SENT
2/26/2008	0	COMMON COUNCIL	ASSIGNED TO

Number
071452
Version
ORIGINAL
Reference

Sponsor
THE CHAIR
Title
Resolution authorizing an appropriation of $460,000 from the Common Council Contingent Fund to the Remission of Taxes Special Purpose Account and directing payment of a civil judgment in favor of U.S. Bank against the City in the amount of $440,430.03, plus simple interest at 0.8% from January 1-31, 2008, and simple interest at 1.0% thereafter until date of payment.
Analysis
This resolution authorizes payment of a sec. 74.37 lawsuit judgment by U.S. Bank against the City for excessive assessments for 12 branch bank properties from 2001-2006 in the amount of $440,430.03 plus simple interest at 0.8% from January 1-31, 2008, and simple interest at 1.0% thereafter until the date of payment.
Body
Whereas, U.S. Bank has brought suit against the City for allegedly excessive assessments of the properties of 12 branch banks; and

Whereas, A civil judgment has been entered against the City on behalf of U.S. Bank for $440,430.03 plus simple interest at 0.8% for the month of January, 2008, and simple interest at 1.0% thereafter until the date of payment; and

Whereas, The Assessor’s Office and the City Attorney have determined that an appeal is not appropriate or in the best interests of the City; and

Whereas, A total amount of $500,000 has been budgeted in the 2008 Remission of Taxes Special Purpose Account; and

Whereas, There are multiple claims pending seeking remission of taxes alleging excessive assessments under the procedures in s. 74.37, Wis. Stats.; and

Whereas, The Common Council of the City of Milwaukee deems it just and expeditious to settle this lawsuit; now, therefore, be it

Resolved, By the Common Council of the City of Milwaukee, that an amount of $460,000 be appropriated from the 2008 Common Council Contingent Fund Account No. 0001-9990-C001-006300 and placed within the 2008 Remission of Taxes Special Purpose Account, and that the proper City officers are authorized and directe...