Number
011254
Version
ORIGINAL
Reference
Sponsor
THE CHAIR
Title
Resolution relating to expenditure of funds to be reimbursed by greater than anticipated revenue. (Port of Milwaukee)
Analysis
This resolution authorizes the Port of Milwaukee to expend an additional $125,000 in funds due to unanticipated expenses for legal services retained during negotiations for the renewal of the Summerfest property lease. This lease resulted in 2001 revenues for the Port of Milwaukee being greater than anticipated.
BODY:
Whereas, Common Council file 980965 established procedural guidelines related to the expenditure of funds to be reimbursed by greater than anticipated revenues; and
Whereas, The Port of Milwaukee has realized, in 2001, greater than anticipated revenues due to the renewal of the lease of its Summerfest property; and
Whereas, The Port of Milwaukee has realized greater than anticipated expenses of $125,000 for legal services to renew the lease of its Summerfest property; and
Whereas, The Comptroller has certified greater than anticipated revenue in the amount of $125,000, pursuant to s. 304-91,
Pursuant to s. 304-91, I hereby certify that the money required for this is anticipated to be realized on or before 12/31/01 and to be expended only for the purpose in this resolution.
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Comptroller Date
; now, therefore, be it
Resolved, That $125,000 is appropriated to the Port of Milwaukee professional services account #0480-4280-R999-634000; and, be it
Further Resolved, That the Port of Milwaukee is authorized to expend $125,000 from the professional services account #0480-4280-R999-634000 for expenses associated with legal services to renew the lease of its Summerfest property; and, be it
Further Resolved, That the City Comptroller be, and hereby is, authorized and directed to establish the necessary accounts and accounting procedures to carry out the in...
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