City of Milwaukee - File #: 071233

• File #: 071233
• Version: 1
• Type: Resolution
• Status: Passed
• File created: 12/11/2007
• In control: JUDICIARY & LEGISLATION COMMITTEE
• Final action: 1/15/2008
• Title: Substitute resolution authorizes and approves the payment to the City of Milwaukee by Dana Corporation, et al., for the amount of $75,451.72 as full payment of the real and personal property tax liability for account number 037-9998-112-1 for tax year 2006, and account number 9306-1746 for tax year 2006, and authorizes waiving of the outstanding interest and penalties.
• Sponsors: THE CHAIR
• Indexes: IN REM JUDGMENTS, LITIGATION, SUITS SETTLEMENT, TAXATION

Date	Ver.	Action By	Action	Result	Tally
1/23/2008	0	MAYOR	SIGNED
1/15/2008	0	COMMON COUNCIL	ADOPTED	Pass	14:0
1/7/2008	0	JUDICIARY & LEGISLATION COMMITTEE	SUBSTITUTED; Minutes note: Proposed Subsitute A accepted.	Pass	4:0
1/7/2008	0	JUDICIARY & LEGISLATION COMMITTEE	RECOMMENDED FOR ADOPTION	Pass	4:0
1/3/2008	0	JUDICIARY & LEGISLATION COMMITTEE	HEARING NOTICES SENT
12/11/2007	0	COMMON COUNCIL	ASSIGNED TO

Number
071233
Version
SUBSTITUTE 1
Reference

Sponsor
THE CHAIR
Title
Substitute resolution authorizes and approves the payment to the City of Milwaukee by Dana Corporation, et al., for the amount of $75,451.72 as full payment of the real and personal property tax liability for account number 037-9998-112-1 for tax year 2006, and account number 9306-1746 for tax year 2006, and authorizes waiving of the outstanding interest and penalties.
Analysis
Substitute resolution authorizing and approving the payment of $75,451.72, to the City of Milwaukee as full payment of the real and personal property liability of Dana Corporation, et al., pursuant to an Order, pursuant to §§105 and 363(B) of the Bankruptcy Code Authorizing Payment of Certain Secured Pre-petition Real and Personal Property Taxes (Docket 5167) (the Secured Tax Order) entered on April 25, 2007, for the United States Bankruptcy Court Southern District of New York, Case No. 06-10354 (BRL), and authorizing waiving of the outstanding interest and penalties.
Body
Whereas, on March 3, 2006, (“The Petition Date”) the debtor’s Dana Corporation, et al and its subsidiaries, including Reinz Wisconsin Gasket LLC (collectively, “Dana Corporation”) filed a voluntary petition in the United States Bankruptcy Court, Southern District of New York, for reorganization relief under Ch. 11 of Title 11 of the United States Code, 11 U.S.C. §§ 101-1120 as amended (the “Bankruptcy Code”); and

Whereas, on April 25, 2007, the Honorable Burton R. Lifland signed an order reducing Dana Corporation’s personal and real property tax liabilities for the tax year 2006, and

Whereas, the City agrees that amount of $75,451.72 be paid in full to the City for satisfaction of the City’s claim and Dana Corporation‘s tax liability for the tax year 2006; now, therefore, be it

Resolved, That the City of Milwaukee accepts $75,451.72 as payment in full for the real and personal property tax liability for account numbers for account numbe...